AI Project Discovery
Exploring the best Web3 projects and AI innovations. Join me for insights into the groundbreaking tech shaping our digital future. ๐๐
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It looks like Solana is planning to release a gaming console. A few weeks ago, a Solana Play account was created on X, and now you can register your email for early access.
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๐ฐ Telegram CEO Pavel Durov has been transferred to a court in Paris.
๐ OpenSea CEO's Statement
โ OpenSea has received a Wells notice, which is a threat to sue us because the SEC believes that the NFTs on our platform are securities.
We did not anticipate that the SEC would take such broad action against creators and artists.
However, we are ready to stand up and fight.
By targeting NFTs, the SEC will stifle innovation on a much broader scale, putting hundreds of thousands of online artists and creatives at risk, many of whom do not have the resources to defend themselves.
NFTs are fundamentally creative products. They include art collectibles, video game items, domain names, event tickets, and more.
We should not regulate digital art in the same way we regulate secured debt.
If regulatory authorities' forceful actions cause creators to stop making digital art, it would result in a terrible outcome.
โ OpenSea has received a Wells notice, which is a threat to sue us because the SEC believes that the NFTs on our platform are securities.
We did not anticipate that the SEC would take such broad action against creators and artists.
However, we are ready to stand up and fight.
By targeting NFTs, the SEC will stifle innovation on a much broader scale, putting hundreds of thousands of online artists and creatives at risk, many of whom do not have the resources to defend themselves.
NFTs are fundamentally creative products. They include art collectibles, video game items, domain names, event tickets, and more.
We should not regulate digital art in the same way we regulate secured debt.
If regulatory authorities' forceful actions cause creators to stop making digital art, it would result in a terrible outcome.
Multiple Large $ETH Holders Selling $ETH
According to LookOnChain, multiple $ETH whale addresses appear to have sold $ETH.
According to LookOnChain, a specific $ETH holder deposited $8,825 $ETH to Binance on the 27th, suffering a loss of $3.66 million for $24 million. The address purchased $8,825 $ETH from Binance for $27.96 million between July 27 and August 3.
Meanwhile, another large $ETH holding address appears to have sold $5,088 $ETH for $13.58 million on the night of the 27th, despite suffering a loss of $3.66 million. The address reportedly withdrew $5,088 for $17.24 million from Binance between March 28 and April 3.
In addition, two large $ETH holding addresses were reported to have sold $8,208 for $21.59 million on-chain and used the money to pay debts on Aave to avoid liquidation early today.
One large holder began selling $19,000 for $49.17 million today, while the address requested a withdrawal of $30,007 for $78.67 million about 4 days ago, and claimed $19,000 for $49.17 million early today. The whale deposited $19,000 for $ETH to Coinbase.
Another holder stated that he exchanged $4,591.8 $stETH for $4,589.5 $ETH directly, despite losing about $2.3 $ETH, in order to avoid the exchange's withdrawal process. The address then stated that he sold all $5,145 $ETH, worth $13.3 million, to Binance.
Currently, Ethereum is trading at $2,449.70, down about 8.80% over the last 24 hours.
According to LookOnChain, multiple $ETH whale addresses appear to have sold $ETH.
According to LookOnChain, a specific $ETH holder deposited $8,825 $ETH to Binance on the 27th, suffering a loss of $3.66 million for $24 million. The address purchased $8,825 $ETH from Binance for $27.96 million between July 27 and August 3.
Meanwhile, another large $ETH holding address appears to have sold $5,088 $ETH for $13.58 million on the night of the 27th, despite suffering a loss of $3.66 million. The address reportedly withdrew $5,088 for $17.24 million from Binance between March 28 and April 3.
In addition, two large $ETH holding addresses were reported to have sold $8,208 for $21.59 million on-chain and used the money to pay debts on Aave to avoid liquidation early today.
One large holder began selling $19,000 for $49.17 million today, while the address requested a withdrawal of $30,007 for $78.67 million about 4 days ago, and claimed $19,000 for $49.17 million early today. The whale deposited $19,000 for $ETH to Coinbase.
Another holder stated that he exchanged $4,591.8 $stETH for $4,589.5 $ETH directly, despite losing about $2.3 $ETH, in order to avoid the exchange's withdrawal process. The address then stated that he sold all $5,145 $ETH, worth $13.3 million, to Binance.
Currently, Ethereum is trading at $2,449.70, down about 8.80% over the last 24 hours.
Robinhood Wallet, Solana Network Integration
Johann Kerbrat, head of crypto at fintech company Robinhood, announced via his X channel that Robinhoodโs own wallet has been integrated with the Solana network.
This will allow users to store Solana-based tokens in their Robinhood wallet and transfer them over the Solana network.
#SOL
Johann Kerbrat, head of crypto at fintech company Robinhood, announced via his X channel that Robinhoodโs own wallet has been integrated with the Solana network.
This will allow users to store Solana-based tokens in their Robinhood wallet and transfer them over the Solana network.
#SOL
Ethereum Foundation Releases 2023 Expenditures
Amid rising concerns within the virtual asset community about the Ethereum Foundation (EF)'s spending, Josh Stark from EF shared a detailed breakdown of their 2023 expenditures on his personal X (formerly Twitter) account. The scrutiny increased after DeFi analyst Ignas highlighted on August 26th that EF's expenditures were not clearly documented. Additionally, on August 23rd, the community criticized EF when it was revealed via the on-chain tracking platform LookOnChain that an EF wallet had deposited $35,000 worth of Ethereum, equivalent to $93.8 million, to the Kraken exchange.
The expenditure breakdown for 2023, as presented by Stark, includes the following categories: Applied ZK (Zero-Knowledge) accounted for 10.4%, Community Building for 12.7%, Internal Operations for 7.7%, Developer Platform for 6.5%, Layer 1 (L1) Research and Development (R&D) for 24.9%, Layer 2 (L2) R&D for 1.4%, and New Organizations for 36.5%. Stark emphasized that this breakdown encompasses both internal and external spending, with L1 R&D including contributions from external clients and internal EF researchers. The spending pattern shows that external spending, such as grants, accounted for 62% of the budget, while internal spending was 38%, consistent with the trends observed in 2022.
Internal expenditures covered teams like Geth, Privacy and Scaling Exploration (PSE), Solidity, Cryptography Research, and others, all of which are actively engaged in sharing their progress through various public platforms. External spending primarily involves grants, with a comprehensive list available on the official Ethereum blog detailing grants distributed over the past four years.
Notably, the largest spending category, "New Organizations," which made up 36.5% of the budget, is dedicated to funding new entities that enhance and support the Ethereum ecosystem. Vitalik Buterin added that this category includes entities like the Nomic Foundation, Decentralization Research Center (DRC), L2Beat, and 0xPARC. EF has been increasingly focusing on ecosystem support, with the budget for these initiatives nearly doubling in 2023 compared to the previous year. Additionally, Buterin disclosed that his annual salary is 182,000 Singapore dollars in response to a question from a Twitter user.
The expenditure breakdown for 2023, as presented by Stark, includes the following categories: Applied ZK (Zero-Knowledge) accounted for 10.4%, Community Building for 12.7%, Internal Operations for 7.7%, Developer Platform for 6.5%, Layer 1 (L1) Research and Development (R&D) for 24.9%, Layer 2 (L2) R&D for 1.4%, and New Organizations for 36.5%. Stark emphasized that this breakdown encompasses both internal and external spending, with L1 R&D including contributions from external clients and internal EF researchers. The spending pattern shows that external spending, such as grants, accounted for 62% of the budget, while internal spending was 38%, consistent with the trends observed in 2022.
Internal expenditures covered teams like Geth, Privacy and Scaling Exploration (PSE), Solidity, Cryptography Research, and others, all of which are actively engaged in sharing their progress through various public platforms. External spending primarily involves grants, with a comprehensive list available on the official Ethereum blog detailing grants distributed over the past four years.
Notably, the largest spending category, "New Organizations," which made up 36.5% of the budget, is dedicated to funding new entities that enhance and support the Ethereum ecosystem. Vitalik Buterin added that this category includes entities like the Nomic Foundation, Decentralization Research Center (DRC), L2Beat, and 0xPARC. EF has been increasingly focusing on ecosystem support, with the budget for these initiatives nearly doubling in 2023 compared to the previous year. Additionally, Buterin disclosed that his annual salary is 182,000 Singapore dollars in response to a question from a Twitter user.
Recently, an address linked to Justin Sun or the Tron Foundation sold approximately $2.86 million worth of SUN tokens over two days.
This address had been accumulating SUN tokens for the past three years before initiating this large-scale sale.
The breakdown shows $1.18 million worth of SUN was sold on the first day, followed by another $1.68 million sold the next day.
Following these sales, the price of SUN tokens dropped by around 15%.
#Tron
This address had been accumulating SUN tokens for the past three years before initiating this large-scale sale.
The breakdown shows $1.18 million worth of SUN was sold on the first day, followed by another $1.68 million sold the next day.
Following these sales, the price of SUN tokens dropped by around 15%.
#Tron
๐บ๐ธ
According to Polymarket, only 37% of people believe that Pavel Durov will be released in August.
According to on-chain data, the current Bitcoin bull market is surpassing the bull market cycles of 2015 and 2018. This suggests that the current rally is stronger and potentially more sustained than those in previous cycles, reflecting increased investor confidence and a more robust market structure.
According to a report on the newly released cryptocurrency section, the number of Bitcoin millionaires increased by 111% over the last year.
โ Last year alone, the number of cryptocurrency billionaires increased by 6, bringing the total number of cryptocurrency holders with assets exceeding nine figures to 28.
โ Last year alone, the number of cryptocurrency billionaires increased by 6, bringing the total number of cryptocurrency holders with assets exceeding nine figures to 28.
Trump in Crisis: 238 Republican Strategists Declare Support for Kamala Harris
Powell: 'The Time Has Come to Adjust Interest Rates'
Summary of Key Comments from Jackson Hole
- Federal Reserve Chair Jerome Powell has hinted that interest rate cuts are on the horizon but declined to specify the exact timing and magnitude.
- In his keynote speech at Jackson Hole, Powell stated, "The time has come for policy to adjust."
- He noted, "Inflation has significantly decreased. The labor market is no longer overheated and is less tight than it was before the pandemic. Supply constraints have normalized."
- He further explained, "As a result, the balance of risks concerning our two objectivesโprice stability and employmentโhas shifted. We will do everything in our power to continue managing inflation while ensuring the labor market remains strong."
Summary of Key Comments from Jackson Hole
- Federal Reserve Chair Jerome Powell has hinted that interest rate cuts are on the horizon but declined to specify the exact timing and magnitude.
- In his keynote speech at Jackson Hole, Powell stated, "The time has come for policy to adjust."
- He noted, "Inflation has significantly decreased. The labor market is no longer overheated and is less tight than it was before the pandemic. Supply constraints have normalized."
- He further explained, "As a result, the balance of risks concerning our two objectivesโprice stability and employmentโhas shifted. We will do everything in our power to continue managing inflation while ensuring the labor market remains strong."
Temu's Parent Company Pinduoduo (PDD) Plummets 27% Due to Earnings Miss and Cautious Comments
- 2Q24 revenue was $13.36 billion, up 86% year-over-year, but missed consensus by 4%.
- Management stated, "Going forward, revenue growth will inevitably face pressure due to competition and external factors."
- "As we continue to invest resolutely for the future, profitability will also be impacted."
- 2Q24 revenue was $13.36 billion, up 86% year-over-year, but missed consensus by 4%.
- Management stated, "Going forward, revenue growth will inevitably face pressure due to competition and external factors."
- "As we continue to invest resolutely for the future, profitability will also be impacted."
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