Arrangement: Fairy, ChainCatcher
Important Information:
Robinhood fined $3.9 million by California over cryptocurrency withdrawal issues
Upbit adds BIGTIME Korean Won trading pair
Shandong Weifang established a universe industry fund group with a total scale of no less than 10 billion yuan to support the development of the metaverse industry
Fed Accuses Crypto-Friendly Bank United Texas Bank of ‘Major Flaws’ in Transactions with Crypto-Related Clients
Grass launched the airdrop inspection page, the first airdrop accounts for 10% of the total
Coinbase spokesperson: Harris did not directly accept cryptocurrency donations, but her PAC accepted
“What important events have occurred in the past 24 hours?”
Robinhood fined $3.9 million by California over cryptocurrency withdrawal issues
The California Department of Justice has fined Robinhood’s cryptocurrency trading subsidiary, Robinhood Crypto LLC, $3.9 million for past conduct.
The company banned users from withdrawing purchased cryptocurrencies from 2018 to 2022. Although Robinhood abandoned this policy in 2022, it is still under investigation by the California Department of Justice. The investigation considers cryptocurrencies traded through Robinhood as commodities and believes that the company failed to give users custody of their personal assets, violating California's commodities law. Under the settlement agreement, Robinhood must allow users to withdraw cryptocurrencies from the app and update disclosures about its custody practices. Robinhood Crypto is also facing an independent review by the U.S. Securities and Exchange Commission, which said in May that it was preparing to file a lawsuit against the company for violating federal securities laws.
Upbit adds BIGTIME Korean Won trading pair
According to official news, Upbit announced that it will launch the BIGTIME Korean won trading pair at 18:00 on September 5 (17:00 Beijing time).
Shandong Weifang established a universe industry fund group with a total scale of no less than 10 billion yuan to support the development of the metaverse industry
According to Jinshi, the Weifang Municipal Bureau of Industry and Information Technology recently issued the "Several Policies on Accelerating the Development of the Metaverse Industry", proposing to establish a Metaverse Industry Fund Group with a total scale of no less than 10 billion yuan and a first phase scale of no less than 2 billion yuan, focusing on the Metaverse industry chain and targeting enterprises at different life cycle stages. The funds will be mainly used to invest in and attract enterprises and projects that "strengthen, supplement and extend the chain".
State-owned enterprises are encouraged to jointly establish special funds for the Metaverse industry and explore a direct investment model that combines "equity + debt". They can exit within 5 years at an interest rate not higher than the bank loan interest rate during the same period, and exit in a market-oriented manner after more than 5 years. The municipal guidance fund can transfer the added value to the state-owned enterprises that invested.
Fed Accuses Crypto-Friendly Bank United Texas Bank of ‘Major Flaws’ in Transactions with Crypto-Related Clients
The Federal Reserve on Wednesday issued a cease-and-desist order to crypto-friendly lender United Texas Bank, citing “material deficiencies” in the bank’s compliance with anti-money laundering laws related to its cryptocurrency customer transactions, among other alleged violations.
Grass launched the airdrop inspection page, the first airdrop accounts for 10% of the total
According to official news, Grass announced the launch of the airdrop inspection page.
Currently, the inspection page only reflects allocations for Closed Alpha and Epochs 1-7, and does not include ongoing Bonus Epoch or To Be Announced allocations. The total supply will be 1 billion GRASS tokens, with 10% reserved for the first airdrop.
The detailed allocation is:
Closed Alpha: 1.5%；
Epochs 1-7: 7%；
Bonus Epoch: 0.5%；
To Be Announced: 1%。
Coinbase spokesperson: Harris did not directly accept cryptocurrency donations, but her PAC accepted
A Coinbase spokesperson clarified on Wednesday that Harris' statement that she was "accepting crypto donations" was incorrect. The spokesperson said: "Coinbase can confirm that the lobbying organization Future Forward PAC has partnered with Coinbase Commerce to accept cryptocurrency donations." Harris' campaign website currently does not provide a way to donate in cryptocurrency.
While Harris’ campaign has not directly accepted cryptocurrency donations, Future Forward USA is a major source of support for Harris, and the development could at least be a sign of Democrats’ growing interest in cryptocurrency.
Data: Ethereum Foundation sold 100 ETH, about $240,000
According to @ai_9684xtpa, the Ethereum Foundation sold another 100 ETH, about US$240,000.
This address has sold a total of 2,616 ETH on the chain in the past eight months, with a total value of US$7.64 million and an average selling price of US$2,921.
19-year-old Singaporean crypto trader attacked while trading USDT offline, police arrest two suspects
According to Protos, a 19-year-old Singaporean cryptocurrency trader named “ZK” was attacked and forced to cancel the transaction when he tried to exchange 32,000 Singapore dollars (about 24,000 US dollars) for Tether (USDT).
According to Mothership, during the transaction, ZK was ambushed by two men when he met the seller in a parking lot, one of whom hit him in the face. ZK fled into a nearby mall and called the police. The transaction was originally scheduled to take place in a public place, but the seller changed the location at the last minute. Police have arrested two suspects, aged 20 and 21, on suspicion of attempted robbery.
"What are the interesting articles worth reading in the past 24 hours?"
A quick look at AI+DePIN projects EMC, which received investments from Amber Group, Polygon, etc.
With the rapid rise of AI technology and Web3 decentralized physical infrastructure network (DePIN), building computing power DePIN based on GPU is becoming a hot topic in the industry. Many projects such as Render, IoTeX, Helium and io.net are making significant progress. Recently, EMC announced the successful completion of a $20 million strategic financing. EMC will be introduced below.
The legend of Yang Bin: the former richest Chinese man arrested for crypto fraud, Kim Jong-il’s adopted son
On August 26, 2024, at the Singapore High Court, Yang Bin, once the second richest man in China, now sat in the dock. Yang Bin, who always had a dark complexion, did not look very good. Through the court interpreter, he told the judge that he had stomach cancer.
The courtroom fell silent as the judge read out the verdict, sentencing Yang Bin to six years' jail and a S$16,000 fine for running a multimillion-dollar Ponzi scheme disguised as cryptocurrency investments.
The cause of all this can be traced back to 2021, when Yang Bin used the name of A & A Blockchain Innovation to attract a large number of investors, claiming to have 300,000 cryptocurrency mining machines and promising a daily return of 0.5%. In fact, these mining machines never existed, and Yang Bin used the funds of new investors to pay early participants, a typical Ponzi scheme. In the end, the scam was fully exposed under the investigation of Singapore regulators.
This is not the first time that Yang Bin has faced legal sanctions. In 2003, he was sentenced to 18 years in prison by a Chinese court. "South African Mandela was in prison for 27 years and became president when he was released. I, Yang Bin, was in prison for 18 years and was 58 years old when I was released. I can still be president." The 68-page verdict could not suppress his arrogance.
This former richest man in China and leader of the North Korean Special Administrative Region has a legendary business empire full of ambition and glory, and also has a wonderful legendary experience: from an orphan to a billionaire, from a business tycoon to a prisoner. The following content is the full truth of this once glorious "dark horse tycoon".
As Polkadot plunged 50%, Gavin Wood decided to become a DJ
Ethereum co-founder Gavin Wood was interviewed by DL News as Polkadot plunged 50%.
After investing heavily in marketing, Polkadot is facing a backlash from users.
Gavin Wood talks about his alter ego - as a DJ.
When Polkadot students finished up their five-week developer bootcamp in Hong Kong earlier this year, the party was on. During the graduation ceremony, members of the DeFi network saw a familiar face taking their place behind the DJ booth — Gavin Wood, co-founder of Polkadot and one of the masterminds of Ethereum.
After a decade of playing a key role in building the DeFi ecosystem, Gavin Wood, 44, is returning to his original passion: music. “If you see any article about DJ Wasabi, that’s me,” Wood told DL News.
