No. 9.18: Crypto News 📰NO.1 "The JPEX exchange withdrawal limit is 1000U, and 1U is deposited into the account. Have you seen the 999U handling fee?"

1. JPEX cryptocurrency exchange has increased withdrawal fees and suspended its “Earn Plan” due to the ongoing liquidity crisis. The company claimed that third-party marketplace makers had "maliciously frozen" its funds. Some users have reported extremely high withdrawal fees, with a maximum limit of 1,000 USDT. JPEX promises to restore liquidity as soon as possible and reduce withdrawal fees. In addition, they have frozen the gaming platform and plan to solicit DAO restructuring proposals from users. Currently, JPEX has not responded to requests for comment.

2. Ethereum developers failed to successfully launch a new testnet called "Holesky" last Friday, damaging its technical milestone that was originally planned to celebrate the first anniversary of last year's "Merge" upgrade. According to Ethereum core developers, some validators were able to manually launch the testnet, but there was a configuration error in one of the network's origin files.

3. The Hong Kong Monetary Authority (HKMA) warned crypto companies not to call themselves “banks” as this would violate banking regulations. Only institutions licensed by HKMA can use the term "bank" or accept deposits from the public. HKMA also reminds not to use bank-related words, such as "digital bank", "crypto bank", etc.

4. Google Cloud’s Web3 director pointed out that the encryption industry focuses too much on token prices and should pay more attention to business logic in smart contracts to solve actual business problems. He believes that token price is not the key, but solving business problems is the key.

5. The cryptocurrency exchange CoinEx was hacked, with losses estimated at tens of millions of dollars. CoinEx called on the intruders to negotiate and offered generous rewards if they returned the stolen assets. The intrusion has been blamed on the North Korean-backed Lazarus Group. CoinEx invited intruders to talk in an open letter and expressed its willingness to improve security facilities and provide vulnerability bounties in the hope of reaching a more secure and reasonable solution. The company also invites intruders to participate in future security system upgrades.

6. Trading activity on the Binance.US exchange hit a new low in September, facing unprecedented challenges. According to The Tie Terminal, as of September 16, the trading volume of Binance.US only reached US$5.09 million, and the lowest point of this month was on September 9, which was only US$2.97 million. Compared with September 2022 The trading volume of approximately US$230 million on the 17th showed a significant decline.

7. The U.S. House Financial Services Committee is advancing legislation aimed at preventing the issuance of central bank digital currencies. The committee will discuss two digital dollar-related bills on September 20, including one that would prohibit the Federal Reserve System from conducting digital dollar pilot programs without congressional approval. Although the Federal Reserve recently claimed that it has not yet decided whether to issue a central bank digital currency, this legislation shows that a digital dollar is still a topic of discussion.

8. NFL quarterback Trevor Lawrence and YouTube stars Kevin Paffrath and Tom Nash have reportedly reached a settlement in a lawsuit involving their failure to fully disclose in the promotion of former cryptocurrency exchange FTX Compensation matters.