Compiled by: Luan Peng, ChainCatcher

Important Information:

  • Binance will launch 6 spot trading pairs including BTC/EURI, CATI/BRL

  • Crypto community calls on SEC chairman to resign at congressional hearing to avoid future dismissal

  • Kraken to hire Natasha Powell as UK compliance chief: sources

  • Japan's Ceres launches virtual currency "shareholder preferential treatment" policy, its stock price rises by 300 yen

  • Vitalik: Independent stakers are the “first line of defense” and “last line of defense” of the Ethereum network

  • Saga founder: The average income of women in Web3 finance is 46% lower than that of men, which is higher than that of Web2 finance

  • Only 1.1% of remittances in El Salvador involve cryptocurrencies

  • Green United fails to dismiss $18 million crypto mining fraud lawsuit

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

Binance will launch 6 spot trading pairs including BTC/EURI, CATI/BRL

Binance announced that it will launch 6 new spot trading pairs at 19:00 (Beijing time) on September 25, 2024, including 1MBABYDOGE/FDUSD, 1MBABYDOGE/TRY, BTC/EURI, CATI/BRL, NEIRO/FDUSD and NEIRO/TRY. At the same time, Binance will open trading robot services for these trading pairs and support spot algorithmic orders.

Crypto community calls on SEC chairman to resign at congressional hearing to avoid future dismissal

According to Ibtimes, the U.S. House of Representatives Financial Services Committee will hold a hearing titled "Oversight of the SEC" on September 24. SEC Chairman Gary Gensler will attend and testify, and he will attend the Senate hearing alone tomorrow. After Gensler announced his attendance, many crypto community users expressed criticism and dissatisfaction.

NFT collector Medic Matt said that attending a congressional hearing would be "a great opportunity to resign," and some community members called on Gensler to hand over the SEC chairmanship to someone more capable. Cryptocurrency researcher Anderson said he predicted he would see Gensler "not answering any questions and just wasting everyone's time." Anderson said that at a hearing in 2023, Gensler repeatedly refused to answer lawmakers' questions about whether Ethereum was a security or a commodity.

Crypto YouTuber James Rule asked Democratic Senator Elizabeth Warren if she would "write the answers" for Gensler. Warren and Gensler have been accused of deliberately destroying the cryptocurrency industry. Crypto investor and developer Leon Gaban said the SEC should be shut down. He urged Gensler: "Resign now before Trump fires you later."

Earlier, Republican presidential candidate Donald Trump said that if elected in November, he would fire SEC Chairman Gary Gensler on his first day in office. Cryptocurrency analyst Jonathan Morgan reminded Gensler that his "Democratic allies" can no longer "slander" the cryptocurrency industry because more and more Republican politicians have acknowledged the industry's rapid growth.

Kraken to hire Natasha Powell as UK compliance chief: sources

According to Coindesk, cryptocurrency exchange Kraken has hired Natasha Powell as head of UK compliance, according to two people familiar with the matter. Powell will take office in November.

"We are always exploring new opportunities and looking to leverage talent from across the industry to enhance our services," a Kraken spokesperson said in an emailed comment. Powell comes from crypto payments company BCB Group, where she served as chief compliance officer. According to her LinkedIn profile, she began her career at the Financial Conduct Authority (FCA), the UK regulator responsible for overseeing the financial services industry, and later worked at the Royal Bank of Scotland and Barclays Capital.

Japan's Ceres launches virtual currency "shareholder preferential treatment" policy, its stock price rises by 300 yen

Japan's Ceres, which operates the points site "Moppy" and a crypto asset exchange, saw its share price rise by 300 yen (22.7%) in the previous trading day, closing at the upper limit of 1,623 yen.

Ceres announced that it will give 10,000 yen (about $69.29) worth of crypto assets to shareholders who hold more than 100 shares at the end of each December, starting from the end of December 2024. It has not yet been clarified whether the crypto assets given will be Bitcoin (BTC) or other types.

In addition, the cooperation between Ceres and bitbank is also continuing to advance, and bitbank is preparing for listing.

Vitalik: Independent stakers are the “first line of defense” and “last line of defense” of the Ethereum network

Ethereum co-founder Vitalik Buterin shared excerpts from his fireside chat at the Home Staking Summit in Singapore on social media, discussing the actual value of independent stakers (including small businesses and community stakers) to the network, and what changes L1 can make to better support these stakers.

Vitalik said that independent stakers are both the "first line of defense" of the Ethereum network, providing censorship resistance, and the "last line of defense", protecting the network by preventing 67% final confirmation of the wrong chain. Independent stakers are usually not associated with large organizations, which makes them difficult to be captured or coerced by regulators, thereby enhancing Ethereum's position as a trusted neutral block space.

Vitalik raised the possibility of increasing the required validator ratio (e.g. from 67% to 85%) to enhance network security. However, he also pointed out that this may bring new challenges, such as reducing the cost of attacks that prevent final confirmation. In addition, Ethereum network security strategy may face a reassessment. Currently, 33% of staked ETH represents the highest attack cost of hijacking the blockchain. However, this status quo indicates that there may be an over-investment in defending against frontal attacks above 33%, and it is recommended to reallocate resources to strengthen defense capabilities against attacks "above 66%".

Vitalik emphasized the importance of increasing the number of independent stakers as a key component of the current final confirmation threshold, and discussed possible measures that the Ethereum base layer (L1) could take to better support and encourage independent staking.

Saga founder: The average income of women in Web3 finance is 46% lower than that of men, which is higher than that of Web2 finance

According to Unchained, Saga founder Rebecca Liao said that the "Web3 Financial Salary Report" shows that women's income in the Web3 financial field is on average 46% lower than that of men. This gap is significantly higher than the 39% in Web2 Finance (U.S.) and 28% (UK).

In 2024, more than 90% of blockchain venture capital funding will flow to male-led projects, and in 2023, women will hold only 26% of positions in the crypto industry and only 6% of leadership positions.

While an earlier Pantera report had previously stated that women earn 14.6% more than men in the crypto space, the study also revealed that the average experience level for women in the industry is 5.3 years, compared to 4.5 years for men.

Rebecca Liao said the two studies do not present a contradictory picture, but rather reinforce what McKinsey found in its 2023 Women in the Workforce report: Women are not being held back by a lack of advancement opportunities in the C-suite, but rather by a “disconnect.” This means that women are not progressing as quickly as men from entry-level to mid-level positions, which in turn hinders their chances of reaching the top.

Only 1.1% of Remittances in El Salvador Involve Cryptocurrency

Salvadorans still prefer to use the U.S. dollar as the basis for sending and receiving remittances, according to the latest statistical report on household remittances from the Central Reserve Bank of El Salvador. The report found that only 1.1% of all remittances sent to El Salvador included cryptocurrencies, indicating that most use other methods.

The report confirms that the amount of cryptocurrency remittances has been declining since 2022, when Salvadorans received $84.8 million in digital currencies. In 2023, it dropped to $59.5 million, and now in 2024 it has reached only $57.4 million.

The Salvadoran government is reportedly committed to incentivizing the use of cryptocurrencies for payments and remittances, even funding the national crypto wallet Chivo and providing airdrops for citizens to familiarize themselves with Bitcoin.

Green United fails to dismiss $18 million crypto mining fraud lawsuit

Green United LLC has failed to dismiss a lawsuit filed by the U.S. Securities and Exchange Commission, which accused its executives of operating a fraudulent cryptocurrency mining scheme that defrauded investors of $18 million. Defendants Wright Thurston and Kristoffer Krohn allegedly falsely sold nonexistent mining equipment, promoting "green boxes" and "green nodes" as tools for mining GREEN tokens.

On September 23, Judge Ann Marie McIff Allen ruled that the defendants failed to refute the SEC’s allegations and refused to dismiss the fraud charges against Thurston, noting that investors’ GREEN token allocations relied solely on Thurston’s personal decisions.

Binance and Tokocrypto team up with Indonesian law enforcement to uncover major crypto fraud, seize $200,000

Indonesia’s Criminal Investigation Bureau (Bareskrim) worked with Binance and Tokocrypto to capture a major fraud operation, identifying multiple suspects and seizing $200,000 in ill-gotten gains.

Bareskrim launched an investigation into an alleged trading fraud case involving a cryptocurrency trading website. After investigation, it was confirmed that the website was part of a pig-killing scam. During the investigation, several individuals involved in managing accounts that received stolen funds were arrested. Authorities found approximately 50 mobile phones and multiple local bank cards, as well as banking applications on the suspects' phones and tablets. The suspects refused to cooperate when asked about the cryptocurrency wallets they controlled.

Through forensic analysis, Bareskrim investigators discovered wallet addresses that were likely controlled by the suspect and found supporting evidence in their communication records, especially on Telegram. Screenshots of their chats revealed several key wallet addresses, further linking the suspect to the scam.

Bareskrim has arrested individuals involved in managing the stolen funds.

A South Korean man has been arrested by the police for defrauding 250 million won by using cryptocurrency mining investment as bait

A South Korean man in his 30s was arrested by South Korean police for defrauding 250 million won (about 187,000 U.S. dollars) by luring people to invest in cryptocurrency mining.

According to a report from the Ulsan Southern Police Station, suspect A defrauded investment funds by promising interest group members 3 to 4 times high returns from May 2021 to May this year.

The investigation found that A did not use the funds for mining business, but used them to repay personal debts, wedding supplies and living expenses. At present, A has been arrested by the police and the case will be transferred to the prosecutor's office.

The central bank announced a rate cut and reserve requirement ratio cut, and will cut the reserve requirement ratio by 0.5 percentage points in the near future

According to Jinshi, Pan Gongsheng, governor of the People's Bank of China, announced at a press conference held by the State Council Information Office on the 24th that the deposit reserve ratio and policy interest rate would be reduced. In the near future, the reserve ratio will be reduced by 0.5 percentage points, releasing 1 trillion yuan of long-term liquidity, and the reserve ratio may be reduced by another 0.25-0.5 percentage points before the end of the year. At the same time, the central bank's policy interest rate will be reduced, and the seven-day reverse repurchase operation rate will be reduced by 0.2 percentage points, guiding the loan market benchmark rate (LPR) to decline simultaneously.

Citibank survey: Family office investment in cryptocurrencies doubled year-on-year

According to the "2024 Global Family Office Survey Report" released by Citibank, the number of family offices optimistic about cryptocurrencies has doubled from 8% last year to 17% this year, and direct investment remains their most preferred investment method.

The report points out that family offices’ interest in digital assets is still growing from a low base. Whether it is a large family office with an asset management scale of more than US$500 million or a small family office with less than US$500 million, the level of interest in digital assets is similar, with direct cryptocurrency investment and cryptocurrency-related investment funds being their priority.

Large family offices show greater interest in tokenized real-world assets (RWAs) than small family offices, with 11% of large family offices holding exposure to cryptocurrencies, compared to just 3% of small family offices. On the other hand, small family offices have a greater appetite for derivatives, with 8% holding exposure to these products, compared to 3% of large family offices.

Asia Pacific leads in digital asset adoption, with 37% of family offices investing or interested in investing in digital assets. One in 20 family offices in the region reported that digital assets account for more than 10% of investable assets. Meanwhile, Latin American family offices have the lowest interest, with 83% not prioritizing digital asset allocations.

Celestia Foundation Completes $100 Million Funding, Bain Capital Crypto Leads Investment

Celestia Foundation announced that it has completed $100 million in financing, led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, etc. This brings the total amount raised for the project to $155 million.

Celestia Mainnet Beta went live in October 2023, providing a dedicated modular consensus and data network. Since launch, an early ecosystem has formed, with developers deploying the first 20 rollup chains, and the Celestia data blob recently reaching more than half of the total data released by rollups.

It is reported that Celestia's core developer community recently announced its technical roadmap, whose core goal is to expand to 1 GB blocks, bringing a significant increase in data throughput to Celestia's rollup ecosystem.

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

TON Asia Development Relations Director: What should developers build on TON?

The TON ecosystem has been active recently, and applications have emerged within the ecosystem. In response to this situation, Howard, the head of TON's Asian development relations, published an article on the X platform, pointing out the potential application areas worth developing in the current TON ecosystem, and pointing out the direction for developers to build. The following is the full text.

The TON ecosystem has exploded in recent months as applications have proliferated. While many projects are on a similar path (a good sign), TON’s goal remains to maximize your investment, both in time and money, to achieve greater results with less effort.

According to the tried and true 2/8 rule, attention is focused on the top 20% (or fewer) of projects in any field, and traffic and funding will flow to the best projects.

Understanding Solana’s ambitions again from BreakPoint

Memecoin transcends emotions and culture, and is the ideological product of this cycle. Ideology is on par with technological innovation in any historical period. Investors and institutions who understand this will know how to view Memecoin correctly.

Insight into Bitcoin L2 Ecosystem: Sidechains and Rollups Become Mainstream, and Top Projects Raise Millions of Dollars

Bitcoin Layer2 is a second-layer blockchain network built outside the main chain to improve the scalability, functionality and transaction efficiency of the Bitcoin blockchain. Although it is often compared with Ethereum Layer2, on the road to Bitcoin expansion, it was not until the BRC20 experimental token standard based on the Ordinals protocol became popular in May 2023 that more people believed that Bitcoin could not only issue coins, but also realize more complex and sustainable application scenarios.

Finding angles and playing conspiracies, crazy Ethereum MEME week, who is the winner in the end?

Over the past week, the on-chain market of the ETH mainnet can no longer be described as simply "lively". Bao's interest rate cut has revived the already active on-chain market: there is a golden dog every day, and on weekends there are two or three waves of market in a day. The mainnet Gas also soared to around 70Gwei at one point, and it was expensive to even breathe on the chain.

"Mars Tide" Meme Coin is coming, TERMINUS ranks first

In the crypto world, the miracle of making wealth always appears inadvertently. Recently, TERMINUS has led the "Mars Tide" Meme coin explosion.

Last Saturday, with the "joining" of Chinese crypto KOL and SHIB community OG Li Ping, the Meme coin project with the ID TERMINUS, "the first city on Mars in the future" described by Musk, became the latest focus of the market after completing the CTO (community takeover).

This article briefly reviews the recent "Mars Tide" Meme coin project for readers' reference. (Note from Odaily Planet Daily: Meme coin prices fluctuate greatly, and investment risks are high. Please choose the target carefully. The following information does not constitute investment advice)