Compiled by: Luan Peng, ChainCatcher

 

Important Information:

  • Ant Financial announced the progress of the Hong Kong Sandbox project and confirmed that it had completed the first cross-border RWA for a mainland enterprise

  • Vitalik: Airdrops are an ideal use case for testing blockchain identity and credential frameworks

  • Justin Sun: TRON has been running without any problems for 7 consecutive years

  • Binance will remove MATIC spot trading pairs and will open POL/BNB, POL/BTC, POL/ETH and other spot trading pairs on September 13

  • Data: Polymarket predicts that the probability of "Pavel Durov being released in August" has risen to 38%

  • Nvidia will release its Q2 earnings report tonight, and Goldman Sachs said its stock market value may fluctuate by $298 billion

  • He Yi responded to the restriction of Palestinian user accounts: Only a few user accounts related to illegal funds were prohibited from trading

  • Trump: U.S. Justice Department violated its policies and interfered in election

“What important events have occurred in the past 24 hours?”

Ant Financial announced the progress of the Hong Kong Sandbox project and confirmed that it had completed the first cross-border RWA for a mainland enterprise

According to Jinshi.com, in the first phase of the Ensemble (Sandbox) project announced by the Hong Kong Monetary Authority, the first domestic RWA based on new energy physical assets completed in Hong Kong by Ant Digits and Longsun Technology was officially announced. This is one of the four tokenization theme cases in the progress of the HKMA's sandbox project, and it is also the case that has attracted the most attention.

Vitalik: Airdrops are an ideal use case for testing blockchain identity and credential frameworks

Ethereum co-founder Vitalik Buterin said at X that the airdrop is an interesting initial use case for validating zero-knowledge proofs (ZK), a blockchain identity, credential and proof framework.

He pointed out that the goals of the airdrop include: distribution to community members rather than random users who sell immediately, rewarding project contributors, maintaining relative fairness (allowing a certain degree of difference), and resisting malicious extractive arbitrage. Vitalik believes that these are exactly the characteristics that identity, credential, and proof frameworks are designed to achieve, so it is reasonable to use token issuance as an initial use case for these frameworks to test and optimize, especially in adversarial environments.

Justin Sun: TRON has been running without any problems for 7 consecutive years

Justin Sun, founder of TRON and member of the Huobi HTX Global Advisory Committee, said in a post on the X platform that the TRON platform has been running uninterruptedly for the past seven years without any failures even at the microsecond level. He mentioned that many blockchains may stop producing blocks for hours or even days after downtime, so TRON's performance is impressive.

Binance will remove MATIC spot trading pairs and will open POL/BNB, POL/BTC, POL/ETH and other spot trading pairs on September 13

Binance announced a plan to support the swap of Polygon (MATIC) tokens to Polygon (POL).

Binance will stop trading and delist all existing MATIC spot trading pairs (MATIC/BNB, MATIC/BRL, MATIC/BTC, MATIC/ETH, MATIC/EUR, MATIC/FDUSD, MATIC/JPY, MATIC/TRY, MATIC/USDC and MATIC/USDT) at 11:00 (UTC) on September 10, 2024, and will automatically cancel all pending orders. Binance will open POL/BNB, POL/BRL, POL/BTC, POL/ETH, POL/EUR, POL/FDUSD, POL/JPY, POL/TRY, POL/USDC and POL/USDT spot trading at 18:00 (UTC) on September 13, 2024.

Data: Polymarket predicts that the probability of "Pavel Durov being released in August" has risen to 38%

The Polymarket platform shows that the current probability of Telegram founder Pavel Durov being released in August has risen to 38%.

Earlier news said that Telegram founder Pavel Durov visited Russia many times between 2015 and 2021.

Nvidia will release its Q2 earnings report tonight, and Goldman Sachs said its stock market value may fluctuate by $298 billion

According to Jinshi.com, Nvidia will release its second-quarter financial report tonight. Goldman Sachs' trading department stated in a report that after Nvidia releases its financial report, its stock market value may fluctuate as much as $298 billion. This estimate is based on recent option pricing data.

According to Goldman Sachs, if the company is able to report a solid growth quarter and give stronger forward guidance, it could surprise the stock market and cause a big move in the stock price.

He Yi responded to the restriction of Palestinian user accounts: Only a few user accounts related to illegal funds were prohibited from trading

He Yi responded to the restriction of user accounts in the Palestinian region on X. He said: “Only a few user accounts related to illegal funds were prohibited from trading.

As a global cryptocurrency exchange, Binance complies with internationally recognized anti-money laundering regulations like other financial institutions. Binance will continue to educate users on how to trade safely and securely on Binance's platform.

Most importantly, Binance hopes for lasting peace across the region.”

Trump: U.S. Justice Department violated its policies and interfered in election

Trump tweeted: "DOJ policy states that the DOJ should not take any action that could affect the election within 60 days of the election - but they just did such an action. Voting begins on September 6th, so the DOJ violated its own policy, which is election interference. All of these Kamala or Biden's 'hoaxes' should be undone immediately."

US State Department: About 40% of North Korea’s weapons of mass destruction development funds are obtained through theft of virtual assets

Seth Bailey, the U.S. State Department's special deputy representative for North Korea, said at the "South Korea-U.S. Joint Civilian Seminar on Preventing North Korean Virtual Asset Money Laundering" that the theft of virtual currencies is a relatively new source of income for North Korea. It is estimated that more than 40% of the funds used by North Korea for weapons of mass destruction (WMD) and ballistic missile development projects are raised through virtual currencies.

Bailey cited a report from blockchain research firm TRM Labs, pointing out that about one-third of virtual asset thefts worldwide last year were carried out by North Korean hackers, and the amount of theft is expected to increase further this year.

“We are working closely with like-minded countries like South Korea and Japan to develop government policies and procedures that will have a direct impact on North Korean behavior,” Bailey stressed.

Solana restaking protocol Solayer completes $12 million seed round led by Polychain Capital

Solana ecosystem re-staking protocol Solayer completed a $12 million seed round of financing, led by Polychain Capital, with participation from Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and Arthur Hayes family office Maelstrom. The post-investment valuation reached $80 million.

Co-founder Rachel Chu revealed that the round of financing closed in May and was structured as a simple agreement for future equity (SAFE) plus token warrants. The new financing will be used to expand the team, integrate new protocols and prepare for the second phase of the platform. The project plans to hire more employees in functions such as growth, institutional partners and engineering. Solayer also plans to launch its native token in the future, which is currently "under design."

Earlier this month, Binance Labs said it had invested in Solayer as part of the same $12 million seed round. Last month, Solayer also announced a Pre-Seed round of undisclosed size from angel investors including Solana co-founder Anatoly Yakovenko and Polygon co-founder Sandeep Nailwal.

"What are the interesting articles worth reading in the past 24 hours?"

Behind MakerDAO’s name change to Sky, is scale more important than decentralization?

Yesterday, the Maker Protocol announced that its brand name would be upgraded to Sky, and the Maker ecosystem also ushered in a major change.

The decentralized stablecoin Dai (DAI) will be upgraded to USDS at a ratio of 1:1, and the native governance token MKR will be upgraded to SKY at a ratio of 1:24,000. Maker SubDAO will be renamed Sky Stars.

This is not a simple name change, but a major change of strategic direction.

Rune Christensen, co-founder of Sky (formerly Maker), said that the rebranding is an important step in leading the "next evolution of DeFi", aiming to increase access to the protocol, focus more on building ease of use, and help attract more mainstream users from centralized exchanges.

But after the upgrade, Spark Protocol CEO Sam MacPherson said that USDS introduced a freezing function. Sky's official website also added a new function to prohibit the use of VPN login.

Many crypto users question whether Sky is deviating from its decentralization goal.

@Lumbergdoteth of PleasrDAO posted on X: “DAI is currently migrating to USDS, a censorable stablecoin that goes against its original vision. RIP DAI, 2017-2024.”

@Oxngmi of DefiLlama also posted: “Rip, looks like the rebranding maker introduced a vpn blocker (which makerdao.com won’t block).

Supporting Telegram founder, Musk's long-term and short-term concerns

The arrest of Telegram founder Pavel Duro in Paris on the evening of August 24 (local time in France) has attracted widespread attention from the market in recent days, triggering discussions among many well-known figures from the investment, business and political circles, including Tesla founder Elon Musk, Sequoia Capital partner Shaun Maguire, Ethereum founder Vitalik Buterin and other celebrities who have expressed their support.

The keywords of the support are mostly focused on "EU" and "freedom of speech". Elon Musk has made several statements on X about the arrest of Pavel Durov. Nigel Farage, leader of the British Reform Party and MP for Clacton, commented on X: "The arrest of Pavel Durov is worrying. Telegram is a safe application for free speech. Maybe there are some bad guys on it, but there are bad guys on any platform. What will happen next...Elon Musk's arrest?"

Elon Musk's support for Pavel Duro may be a manifestation of the fact that the lips and teeth are in danger. When Elon Musk first acquired Twitter (the predecessor of X) for $44 billion, he claimed to be a "free speech" advocate and criticized the US government and the European Union for "non-free speech" on many occasions.

In December 2023, the Commission initiated formal proceedings against X to assess whether X may have violated the Digital Services Act (DSA) in areas related to risk management, content review, dark mode, advertising transparency, and researcher data access, and notified X of its violation of the DSA on July 12 this year.

With the arrest of Telegram's founder, a new debate has begun among all parties regarding freedom of speech on the Internet.

As the owner of X, Musk, who is unwilling to cooperate with EU regulation, obviously has greater concerns.

Arrests like this one set a dangerous precedent for social media leaders. The European Union and U.S. governments have subpoenaed and questioned leaders of other social media companies, but few leaders of big tech companies have been arrested over what happens on those sites.

Cryptocurrency people are suddenly "controlled at the border"? Detailed explanation of the reasons, query paths and solutions

Recently, a member of Sister Sa’s team suddenly received an inquiry call from an old friend in the cryptocurrency circle late at night. The friend said that he was suddenly “under border control” and could not leave the country. Because there were some gray areas in his previous business operations, he is now very worried that he will be taken away by judicial authorities and his personal freedom will be restricted, so he urgently needs legal services.

In fact, Laoyou’s situation is not an isolated case. Among the many cases we handle, “border control” is nothing new, and it is not uncommon for people in the cryptocurrency circle to be suddenly “border controlled”. Today, the Sajie team will explain in detail what “border control” is? Why are people in the cryptocurrency circle “border controlled”? And if you are “border controlled”, how to save yourself.

Arthur Hayes: Fed rate cuts and a stronger yen will push Bitcoin “to the Moon”

In the final stretch of the third quarter, legal liquidity conditions could not have been better.

The old OG was doing well, why did MakerDAO suddenly change its name?

Let me introduce you to a new project called Sky.

When this word appears, besides the feeling of unfamiliarity, you may feel that this ordinary and common name should correspond to a local dog project that can be launched into the sky tomorrow.

It’s hard to imagine that this is a brand renaming by MakerDAO, the pioneer of DeFi and crypto stablecoin DAI.

On August 27, MakerDAO announced its plan to rebrand to Sky and upgrade its own tokens and stablecoins to the new names SKY and Sky Dollar (USDS).

From MakerDAO to Sky, it is not just a change in name, but also a change in brand awareness.

Tonight, the world is waiting for "NVIDIA time"

The "Nvidia time" that the market has been looking forward to is about to arrive.

After the U.S. stock market closed on Wednesday, Eastern Time, the company known as the "world's most important stock" will release its second quarter financial report for fiscal year 2025, followed by a financial report conference call. Nvidia's report card is not only related to itself, but also to the global technology and even financial industry chain.

Nvidia, which has been "leading the pack" in the AI ​​craze, has high hopes from the market. The market optimistically expects Nvidia's revenue to double year-on-year this quarter, and expects the company's stock price to hit a new high. Of course, there are also constant doubts such as "AI has been overhyped" and "Nvidia's valuation is inflated."

Whether Nvidia can catch up with the market's optimism and renew the "AI faith" is the key. Morgan Stanley said that if Nvidia's revenue exceeds expectations, it may drive AI-related stocks up 3-15%, otherwise it will cause AI stocks to collapse. Bank of America believes that if Nvidia's performance is disappointing, there may be a 10% fluctuation, or about $300 billion in fluctuations.

In addition to performance, the production schedule of Nvidia's next-generation AI chip Blackwell has also become a focus of attention.

Zerohedge reported that generally speaking, Nvidia's financial data is usually released around 4:20 p.m. Eastern Time (4:20 a.m. Beijing Time on Thursday), followed by a conference call at 5 p.m. Eastern Time (5:00 a.m. Beijing Time on Thursday).