Today's Headlines:
- US Legislators Propose "Assessment of DeFi Opportunities Act"
- South Korea Fines Worldcoin Foundation and Tools for Humanity
- OpenAI's Chief Technology Officer Mira Murati Announces Resignation
- Sources: OpenAI Discusses Granting CEO Altman 7% Stake in Profit Transition
- Binance Launches Pre-Market Spot Trading Service, "Actual Tokens" Instead of Derivatives
- Due to US SEC Charges, Curve Considers Removing TUSD as crvUSD Collateral
- Blockchain Project Initia Completes $14 Million Series A Financing, Valued at $350 Million
- Report: Most Projects Airdropping Coins This Year Collapse Within 15 Days
Regulatory News
- Harris Says US Should Take "Dominant Position" in Blockchain Field, Reaffirms "Digital Assets" in Economic Plan
- South Korea Regulatory Agency to Adopt Zero Tolerance Policy for Unfair Cryptocurrency Trading Practices
- Judge: US SEC Has Sufficiently Charged Green Boxes' Combination with Custody Agreement as Securities
- Earlier Today: South Korea Establishes Digital Asset User Protection Foundation to Assist Users of Defunct Cryptocurrency Exchanges in Recovering Funds
- US Legislators Propose "Assessment of DeFi Opportunities Act," DeFi "Crucial to the Future of Capital Markets"
- Central Committee of the Communist Party of China, State Council: Actively Address the Impact of Rapid Development of Emerging Technologies such as Artificial Intelligence on Employment
- South Korea Fines Worldcoin Foundation and Tools for Humanity for Violating Data Protection Law
According to ZDNet Korea, the Personal Information Protection Commission (PIPC) of South Korea has fined the Worldcoin Foundation and Tools for Humanity (TFH) for violating the Personal Data Protection Act. The Worldcoin Foundation was fined 725 million Korean won (approximately $546,000) for mishandling sensitive information and transferring it overseas. TFH was fined 379 million Korean won (approximately $285,000) for violating local regulations on the outbound transfer of personal data. The investigation began in February following complaints and reports that Worldcoin collected biometric data without permission to provide cryptocurrency services.
Japanese Financial Services Agency Plans to Reform Cryptocurrency Game Regulations
According to Nikkei, the Japanese Financial Services Agency (FSA) announced plans to reform the country's cryptocurrency game-related regulations to simplify the process for companies to handle in-game cryptocurrency assets. The regulatory reform may significantly lower the barriers for Japanese companies to enter the blockchain gaming market and encourage more domestic large enterprises to enter the blockchain gaming sector. The main points of the reform include establishing a dedicated working group to revise the current Payment Services Act, discussing the establishment of a new system to simplify the process for companies to handle cryptocurrency assets, potentially reducing the burden on companies in terms of compensation fund preparation, and making in-game operations using cryptocurrency for purchasing items more convenient. The FSA has initiated discussions on the revision of the Funds Settlement Act at the Financial System Council Working Group as of September 25.
Dubai Implements Stricter Regulations on Cryptocurrency Investment Marketing
According to Bloomberg, the Dubai cryptocurrency regulatory agency has updated its virtual asset marketing guidelines, requiring companies to add disclaimers to clarify the risks of such investments. Starting from October 1, companies wishing to sell virtual assets in the United Arab Emirates must add "clear" disclaimers stating that "virtual assets may depreciate in whole or in part and are susceptible to significant fluctuations." Matthew White, CEO of the Virtual Asset Regulatory Authority (VARA), stated that by providing clear and actionable guidance, they can help virtual asset service providers offer services responsibly while enhancing market trust and transparency. Additionally, companies offering virtual assets or related product rewards in the UAE must obtain compliance confirmation from VARA and adhere to other rules, such as not using bonuses for "transferring or misleading" investors in assessing investment risks.
AI
OpenAI's Chief Technology Officer Mira Murati Announces Resignation
According to Caixin, OpenAI's Chief Technology Officer Mira Murati announced her departure from the company, marking another notable senior personnel change at the AI startup. Murati stated in a post on X platform on Wednesday that she is leaving to make time and space for self-exploration, and she added that she will work to ensure a smooth transition. Murati has been a key figure at OpenAI and served as interim CEO when OpenAI's CEO Sam Altman was briefly ousted in November last year. Altman expressed gratitude to Murati, stating that she has been crucial to OpenAI, our mission, and each of us. Altman also mentioned that more information about the transition plan will be shared with employees soon.
Sources: OpenAI Discusses Granting CEO Altman 7% Stake in Profit Transition
According to Jinse, sources have revealed that OpenAI is discussing granting CEO Sam Altman a 7% stake in the company as it transitions to a for-profit entity, marking Altman's first ownership in the AI startup. The sources stated that the company is considering becoming a public benefit corporation to help society while achieving profitability. The transition is still under discussion, and the timeline is yet to be determined. An OpenAI spokesperson stated that OpenAI remains "focused on building AI for the benefit of all," and added that "non-profit is our core mission and will continue to exist."
Project Updates
PayPal Supports US Business Accounts to Buy, Hold, and Sell Cryptocurrencies
According to CoinDesk, PayPal will allow US business customers to directly buy, hold, and sell cryptocurrencies from their accounts. Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies at PayPal, stated, "Business users increasingly want to use cryptocurrency features that are open to consumers." Additionally, PayPal will also allow US merchants to transfer cryptocurrencies on-chain to "eligible" third-party wallets. This service will initially not be available to businesses in the state of New York. Since 2020, PayPal has allowed consumers to directly buy, hold, and sell cryptocurrencies from their accounts. Last year, it launched the USD-denominated stablecoin PayPal USD (PYUSD), which has reached a market value of $1 billion this summer.
Binance Launches Pre-Market Spot Trading Service, "Actual Tokens" Instead of Derivatives
According to The Block, Binance has launched a pre-market (pre-sale) spot trading service, allowing users to trade tokens before they are officially listed. Unlike its competitors, Binance's pre-market trading involves "actual tokens" instead of derivatives. A Binance spokesperson stated that Binance is the first exchange to allow users to trade actual tokens in the pre-market. The service is operated in collaboration with Binance Launchpool, where users can acquire new project tokens by staking BNB and other tokens, with restrictions on transfers and withdrawals before the official listing. Users from regions such as the US, Canada, and Japan are currently not able to use this service.
TON Status stated in its official Telegram channel that starting from 18:00 on September 26 (Beijing time), the load on the TON blockchain is expected to increase as the Hamster Kombat game project, with over 100 million monthly active users, will start mining on the blockchain. This will be a unique event of this scale in the industry. Therefore, stakeholders are advised to: 1. Stay in touch and be ready to respond within an hour if emergency action is needed; 2. Continuously monitor the status of validators and hardware in the coming days, as the quality of validators directly affects the quality of the chain.
Mark Cuban Expresses Interest in Serving as Chairman of the US SEC
Billionaire entrepreneur and cryptocurrency advocate Mark Cuban expressed his intention to serve as the Chairman of the U.S. Securities and Exchange Commission (SEC) during an interview with Fox News. Cuban had previously criticized the current SEC Chairman Gary Gensler, stating that Gensler had failed to protect any investors from cryptocurrency fraud and should resign.
Curve Considers Removing TUSD as crvUSD Collateral Due to SEC Charges
According to Cointelegraph, Curve Finance is considering removing TrueUSD (TUSD) from the list of collateral for the stablecoin crvUSD due to previous charges by the U.S. Securities and Exchange Commission (SEC) against TUSD's issuer TrueCoin for violating securities laws. At the Curve governance forum on September 25, the cross-chain messaging protocol Wormhole proposed reducing the collateral limit for TUSD in crvUSD to zero due to regulatory risks and solvency considerations, to completely eliminate exposure to TUSD. The proposal also suggested reducing the amount of crvUSD mintable by PayPal stablecoin PYUSD from $15 million to $5 million to mitigate related risks. Currently, the primary cryptocurrency collaterals for crvUSD include Ethereum (ETH) and Wrapped Bitcoin (WBTC), with WBTC accounting for the largest share of the collateral with a total locked value of over $68 million. Earlier, on September 24, the SEC reached a settlement with TrueCoin LLC and TrustToken Inc. regarding the unregistered sale and fraud charges related to the stablecoin TrueUSD (TUSD), stating that from November 2020 to April 2023, TrueCoin and TrustToken "issued and sold unregistered investment contracts in the form of the cryptocurrency TUSD on TrueFi." These companies also "falsely marketed the investment opportunity as safe and secure," claiming it was fully backed by U.S. dollar or dollar-equivalent assets, while in reality, most of the assets were invested in "speculative and high-risk offshore investment funds to earn additional returns."
Truflation Crypto Project Hacked, Loses Approximately $5 Million
Blockchain detective ZachXBT revealed that Truflation, a crypto project supported by Coinbase Ventures, was hacked, resulting in the theft of approximately $5 million from the treasury multisig wallet and individual wallets. Truflation subsequently stated on X platform that it had detected "abnormal activity" and confirmed a malicious software attack. The project stated that it is monitoring the situation and taking measures to protect the funds, while also cooperating with law enforcement for an investigation. Additionally, Truflation mentioned that staking operations are currently unavailable, and liquidity on decentralized exchanges is limited.
According to The Block, the Hamster Kombat team announced its latest development roadmap ahead of the upcoming token airdrop. The plans include conducting token buybacks using advertising revenue, integrating NFTs as game assets, and launching a Progressive Web Application (PWA) for Apple and Android devices. The second season of the Tap-to-Earn game is set to launch in the coming weeks, introducing NFTs as game assets, with an expected release in November. Additionally, the team plans to expand into new regions to grow the ecosystem. The token airdrop scheduled for this Thursday has attracted over 300 million players, with 131 million eligible to receive the airdrop, while approximately 2.3 million bots and cheaters have been disqualified.
OneKey Card Announces Gradual Termination of Services
According to an announcement on the OneKey official website, the OneKey Card Service will be gradually discontinued to improve service quality and optimize product experience. The specific schedule is as follows: starting from September 30, 2024, new registrations and recharges will be suspended; by October 31, 2024, all remaining balances will be securely transferred to users' wallets and can be withdrawn at any time; and by January 31, 2025, the OneKey Card Service will be completely terminated.
According to Bloomberg, the U.S. payment processing company and technology provider Worldpay Inc. plans to directly participate in the verification process of blockchain transactions for the first time to better understand the operation of digital ledgers. Sanchit Mall, Head of Web3 and Cryptocurrency at Worldpay Asia Pacific, stated that Worldpay is in negotiations with certain blockchains to become a validator. Mall mentioned in an interview, "Our idea is to embed ourselves in this ecosystem from a foundational level," as Worldpay intends to participate in building blockchain infrastructure for the future flow of funds between digital ledgers. Mall stated that Worldpay has processed $1.3 billion worth of payments using stablecoins so far this year, compared to less than $1 billion in 2023. This is only a small part of the over $23 trillion in payment transactions facilitated by Worldpay annually.
Arthur Hayes: Easing Global Monetary Policies to Benefit Cryptocurrency Market
Arthur Hayes, co-founder of BitMEX, stated in his latest article "Volatility Supercycle" that easing global monetary policies will benefit the cryptocurrency market. The article mentioned that since the 2008 financial crisis, credit-based currencies have been extensively issued, and the total bank credit has never fully declined since then. This fiat credit cannot be eliminated, otherwise the system would collapse under its weight. Additionally, in each crisis, banks must create more and more credit to suppress volatility. All this fiat currency must flow somewhere, and Bitcoin and cryptocurrencies act as a release valve, channeling the fiat currency needed to keep volatility at bay into cryptocurrencies. As investors, traders, and speculators, the goal is to acquire Bitcoin at the lowest cost possible. This may involve pricing one's hourly labor in Bitcoin, diverting excess cheap energy into Bitcoin mining, borrowing fiat currency at low rates to purchase Bitcoin, or using fiat currency savings to buy Bitcoin. Hayes analyzed the latest monetary policies of the U.S., EU, China, and Japan, and stated that if other major economies also ease their monetary policies, the pressure on the Bank of Japan to raise rates quickly would diminish. In the article, Hayes also reviewed his 8 market predictions combined with macro market analysis since November 2023, with the final outcome being "2 correct" and "6 incorrect," resulting in a correctness rate of only 25%, but he stated that he still made a profit.
Berachain Announces Launch of RFB Incentive Program to Support Early Teams with Liquidity
According to official sources, Berachain has announced the launch of the Request For Broposal (RFB) incentive program. The RFB program consists of three parts: 1. Boyco; 2. Application Request; 3. Community Request. The RFB program primarily provides liquidity support for the ecosystem projects and testnet developers of Berachain, helping with project bootstrapping. Projects deployed on the Berachain testnet can apply to participate in the RFB program before October 9 and can choose to participate in the Boyco project simultaneously. The Boyco project supports project integration with the Royco Protocol, allowing projects to directly receive liquidity support from Berachain, enabling them to focus on project development and community operations.
According to Solidot, since Elon Musk's acquisition of its predecessor Twitter in 2022, Pionex has released its first transparency report. Unlike Twitter's previous 50-page semi-annual transparency reports, Pionex's first report is only 15 pages long. The data shows that in 2021, Twitter received 11.6 million reports and took action against 4.3 million accounts, with 1.3 million accounts being suspended. In the first half of 2024, Pionex received 22.4 million reports and suspended 5.2 million accounts. It is noteworthy that Pionex took action against only 2361 hate content accounts, far fewer than Twitter's handling of 1 million hate content accounts in the past. Turkey had the most content removal requests, with Pionex meeting 60% of those requests.
Funding News
AminoChain Completes $5 Million Seed Round, Led by a16z
According to The Block, AminoChain has announced the completion of a $5 million seed round, led by a16z. AminoChain is building a "decentralized biobank" and L2 network aimed at connecting enterprise healthcare institutions that wish to share medical data while protecting patient privacy. Previously, AminoChain completed a $2 million pre-seed round, bringing its total funding to $7 million.
Blockchain Project Initia Completes $14 Million Series A Funding, Valued at $350 Million
According to The Block, blockchain project Initia has completed a $14 million Series A funding round, valuing the company at $350 million. This round of funding was led by Theory Ventures, with participation from Delphi Ventures and Hack VC, among others. Angel investors include Keone Hon from Monad Labs and Bryan Pellegrino from LayerZero Labs. Initia is developing a Layer 1 blockchain and platform for "interwoven optimistic rollups" to build a multi-chain system. Its testnet has already processed 125 million transactions, and the mainnet and token are expected to launch within the next two months.
Key Data
According to Lookonchain monitoring, an address made over a thousand times profit by buying $95 worth of INCEPT in just 12 hours. Many wallets that gained about a thousand times profit on INCEPT seem to be internal wallets. These wallets were all created 4 days ago and have only traded INCEPT.
Chainalysis CEO: Two-Thirds of Blockchain Transactions Come from Stablecoin Trading
According to CoinDesk, Chainalysis CEO Michael Gronager stated in an interview that stablecoins will drive institutional adoption in Asia, despite regulatory dissatisfaction. While cryptocurrency adoption rates are higher among Asian users, the U.S. remains the most influential region in the crypto industry. Gronager pointed out that two-thirds of the transaction volume on the blockchain comes from stablecoin trading. Additionally, he believes that the upcoming U.S. presidential election will not have a significant impact on the crypto industry, regardless of whether Trump or Kamala Harris wins.
Report: Most Projects Airdropped This Year Collapse Within 15 Days
According to DL News, a new study by cryptocurrency market maker Keyrock shows that 88% of tokens launched alongside airdrops this year have seen price declines, with most experiencing a sharp drop within 15 days. Price movements after the airdrop mainly occurred in the initial few days. Three months later, few tokens were able to achieve positive returns, with only a few tokens reversing this trend. It is generally believed that the more tokens a project airdrops, the worse its performance in the open market. However, this common belief is not supported by data. Keyrock stated, "Contrary to popular belief, larger airdrops do not always lead to sell-offs. A token that distributed 70% through airdrops achieved positive growth, indicating that managing fully diluted valuation (FDV) is more important." Keyrock identified two reasons for the failure of airdrops with high FDV. Firstly, projects with inflated FDV often struggle to maintain momentum as perceived upside becomes limited. Secondly, tokens with a larger FDV often lack the liquidity to support these valuations. Keyrock's research also identified the most successful and least successful airdrops. Keyrock stated that the Solana trading platform Drift performed exceptionally well, with the key to its success being a moderate issuance value and fair and thoughtful distribution. Currently, the trading price of the DRIFT token is nearly three times its issuance value. Other Solana-based airdrops also performed well. On the other hand, according to Keyrock's analysis, ZkLend was the worst-performing airdrop project, with its ZEND token price falling by 95% from its issuance value. Keyrock attributed the poor performance of the ZkLend token to its high issuance value and the project's failure to build appeal around its brand.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
