Highlights Preview:
- The U.S. House of Representatives will hold a hearing on "Supervision of the SEC's Investment Management Department" on September 19.
- OKX has announced a compensation plan for the contract price anomaly event, planning to distribute the compensation in the form of USDT directly to user fund accounts before September 20.
- Due to disk damage, Tip Coin has delayed the token launch until September 19.
- Huang Licheng proposed allocating 11 million APE to create a collection of digital art movement and governance token DAM for ApeCoin community, with voting closing on September 21.
- SPACE ID (ID) will unlock approximately 18.49 million tokens worth about $3.8 million on September 22 at 8 am.
- The 9th Blockchain Global Summit will be held in Shanghai from September 19 to 20, hosted by Wanxiang Blockchain Lab.
- Bitmain will host the 2023 Global Digital Mining Summit (WDMS 2023) in Hong Kong from September 22 to 23.
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September 18
Centralized Finance:
The UK digital bank Revolut announced the suspension of its cryptocurrency services in the United States. The decision took effect on September 2, 2023, and the delisting process is scheduled to be completed on September 18. Starting from October 3, 2023, more comprehensive restrictions will be implemented, completely prohibiting U.S. customers from accessing cryptocurrencies through Revolut. However, this decision does not affect Revolut's operations outside the United States. A spokesperson for Revolut stated that this decision only affects less than 1% of its cryptocurrency customers globally.
The next hearing for the SEC v. Binance case is scheduled for September 18.
According to court documents, a temporary order was signed and issued by District Judge Zia M. Faruqui in the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance, Binance.US, and its founder CZ. The next hearing is scheduled for September 18, during which the judge will hear statements from the defendants regarding the motion for a protective order filed by BAM Management US Holdings and BAM Trading Services (Binance.US), as well as arguments from the SEC opposing the motion for a protective order.
Genesis Global Trading will close its OTC cryptocurrency trading platform on September 18.
Genesis will close its over-the-counter (OTC) cryptocurrency trading business for the U.S. market later this month. Genesis Global Trading (GGT) will close its OTC trading platform on September 18. All trades must be settled by September 21, and any remaining open accounts will be closed by September 30. The decision to close the platform was made for business reasons. Another trading-focused subsidiary, GGC International Limited, will continue to operate its spot and derivatives trading services.
Project Updates:
Balancer DAO demands the attacker to return 90% of the funds, with a deadline of September 18.
DeFi protocol Balancer announced that Balancer DAO has issued an on-chain statement to the attacker, demanding the return of 90% of the funds by 17:00 on September 18, Beijing time. If the funds are not returned by the deadline, relevant authorities will be involved.
The Anti-Corruption and Civil Rights Commission of South Korea announced that it will start an investigation into the cryptocurrency trading and holdings of members of the National Assembly from September 18 for a period of three months. For this purpose, a special investigation team for virtual assets of National Assembly members has been established, equipped with 30 professional investigators. The investigation will cover the 21st National Assembly members and will collect information from May 30, 2020, to May 31, 2023.
The Arbitrum community previously initiated the "Short-Term Incentive Plan" AIP proposal, aiming to allocate up to 75 million ARB from the DAO treasury to active Arbitrum protocol participants to meet short-term needs. The snapshot voting for this proposal has begun and will end on September 18, 2023, at 11:58. Currently, the option to allocate the highest 25 million ARB has received the most votes, reaching 1.5 million ARB, accounting for 65.97%; the option to allocate the highest 75 million ARB has the second-highest number of votes, reaching 453,000 ARB, accounting for 20.05%; and the option to allocate the highest 50 million ARB has the third-highest number of votes, reaching 296,000 ARB, accounting for 13.11%.
The Ethereum staking infrastructure ssv.network announced that the new testnet Jato-v2 has been launched and officially opened to the public. This testnet is identical to the current version running on the mainnet and provides a test environment similar to the mainnet. Starting from September 4, Jato-v2 will be permissionless, allowing anyone to test the ssv.network protocol. During a 2-week migration period, all Jato-v1 users are required to migrate to v2. Jato-v1 will be closed on September 18.
Jato-v2 has improved performance and security by optimizing SSV nodes and specifications. The new updates and features include a new contract architecture (changed to ERC-2535 Diamond Standard to expand contract functionality), full support for MEV, improved operator metadata, improved node performance (optimized P2P layer and signature verification, incentivizing task execution volume by 30%), and community-launched nodes.
September 19
Policy and Regulation:
Patrick McHenry, Chairman of the U.S. House Financial Services Committee, announced that the House Capital Markets Subcommittee will hold a hearing on "Supervision of the SEC's Investment Management Department" at 22:00 on September 19, Beijing time.
Centralized Finance:
Binance Futures will conduct a system upgrade for cross-margin leverage on September 19.
Binance Futures will conduct a system upgrade for cross-margin leverage from 14:00 to 15:00 on September 19 and for isolated-margin leverage from 14:00 to 15:00 on September 20 to improve the overall performance and stability of the system. During the system upgrade, all leverage services will remain operational. Users are advised to re-evaluate their margin balances and risk ratios before or after the upgrade to avoid potential liquidation risks due to price fluctuations.
Project Updates:
Tip Coin: Due to disk damage, the token launch has been delayed until September 19.
Web3 social app Tip Coin announced that the token launch will be delayed until September 19 due to disk damage (Windows 10 upgrade to 11). All data is safe and backed up, but some recent changes are missing on Github, hence the delay. In a previous announcement, Tip Coin disclosed the token economic model, with 35% of TIP tokens allocated for platform rewards, 5% for the market, 5% for team lock-up, and the remaining tokens allocated for three Epoch rewards.
September 18
Community Initiatives:
The proposal initiated by the Convex Finance community to increase the FXS Protocol treasury fee from 17% to 20% has started voting and will end on September 19, 2023, at 11:05. Currently, over 99% of the voting rate supports the adjustment of the fee structure. The proposal also suggests reducing the vlCVX share from 7% to 5%; allocating the remaining 5% of boost fees to the treasury; and adding a 5% fee to the Treasury based on veFXS fee income.
Ethereum ACDC Meeting #117: Devnet #9 Release Date Postponed to September 19
Christine Kim, Vice President of Research at Galaxy, summarized the 117th Ethereum Core Developers' Consensus Meeting (ACDC), where the release date for Devnet #9 was postponed by a week to next Tuesday (September 19) to test the Cancun/Deneb (Dencun) upgrade, EIP-4844 blob parameterization, SSZ stable containers proposal, and limiting the loss of verification nodes.
Community Events:
The 9th 2023 Shanghai Blockchain International Week, hosted by Wanxiang Blockchain Lab, will be held from September 15 to 20 in Hongkou District, Shanghai. The event consists of a hackathon, open day, and blockchain global summit, focusing on application innovation, ecosystem prosperity, and in-depth sharing.
September 20
Policy and Regulation:
The OSFI announced two draft guidelines on the regulatory capital treatment of crypto asset risks, one for federally regulated deposit-taking institutions and the other for insurance companies. These guidelines detail the classification of crypto assets and the capital treatment for each classification. The public consultation for these guidelines will be open until September 20, 2023.
ESMA has invited stakeholders to provide feedback on proposed rules for crypto asset service providers (CASP) under MiCA, including their authorization, identification and management of conflicts of interest, and handling of complaints. The consultation will end on September 20, 2023.
Centralized Finance:
Binance Futures will conduct a system upgrade for isolated-margin leverage on September 20.
Binance Futures will upgrade the system for isolated-margin leverage from 14:00 to 15:00 on September 20 to improve overall system performance and stability.
OKX has announced a compensation plan for users who experienced forced liquidation or stop-loss due to a contract price anomaly event on September 13. The compensation will be distributed in USDT directly to user fund accounts before September 20.
September 21
Centralized Finance:
Binance Futures will remove 20 cross-margin and isolated-margin trading pairs involving BUSD on September 21, including ALICE/BUSD, ANKR/BUSD, AVA/BUSD, and others.
Binance will delist privacy coins, including Monero (XMR), in Belgium starting from September 21.
Binance will delist privacy coins in Belgium, including Monero (XMR), MobileCoin (MOB), Firo (Firo), and Horizen (ZEN), starting from September 21.
Binance suspended crypto debit card services in Latin America and the Middle East from August 25 and will terminate these services on September 21.
Project Updates: (No specific project updates provided for September 21.)
The RCMP and SSC are seeking to develop a digital asset solution to facilitate the seizure and storage of cryptocurrencies and NFTs from multiple public blockchains. The tender notice has been posted, with a bid deadline of 2:00 PM Eastern Time on September 21, 2023. The RCMP has outlined 17 requirements for the future storage facility, including the ability to handle transactions of the top 20 cryptocurrencies by market capitalization and scalability to support future new blockchains. The RCMP also intends to grant access to its data to authorized users. Regarding NFTs, the RCMP believes it is necessary to allow NFTs based on Ethereum, Solana, and Polygon.
Governance Voting:
Taiwanese singer Huang Licheng has initiated AIP-304 proposal in the ApeCoin community, proposing the creation of a digital art movement collection, which will consist of NFT collections curated from Yuga assets (BAYC, MAYC, BAKC, and Punks) and other prominent NFTs. These collections will be used for exhibitions and donations to art institutions to enhance the global dissemination of digital art. The cost of this proposal is 11 million APE, which will be provided in batches through a mechanism jointly determined with the APE Foundation. Huang Licheng, along with the Tastemaker team and community members, will use the digital art movement (DAM) governance token to collectively decide how to execute the selection and curation of NFTs. 30% of DAM will be allocated to ApeCoin stakers over 5 years, and 70% will be allocated to the treasury, decided by token holders. The voting for this proposal will open at 9:00 AM on September 15 and end on September 21.
September 22
Centralized Finance:
Mastercard and cryptocurrency exchange Binance will end their crypto card projects in Argentina, Brazil, Colombia, and Bahrain on September 22. The decision will not affect any other crypto card programs of Mastercard.
Project Updates:
NFT project Nakamigos will conduct a new season public sale on September 22.
NFT project Nakamigos has announced the details of a new season NFT sale. The presale for this series, which is compliant with snapshot requirements, will take place from 00:00 to 03:00 on September 22, and the public sale will begin at 04:00 on the same day. The Nakamigos-CLOAKS whitelist and public sale price will both be 0.05 ETH.
Community Events:
Bitmain will host the 2023 World Digital Mining Summit (WDMS 2023) in Hong Kong from September 22 to 23. Bitmain will also release the world's first 1XJ/T miner: ANTMINER S21.
Token Unlock:
SPACE ID (ID) will unlock approximately 18.49 million tokens worth about $3.8 million on September 22 at 8:00.
1inch (1INCH) will unlock approximately 53,500 tokens worth about $13,000 on September 22 at 16:00.
September 23
Project Updates:
Japanese electronics giant Casio is collaborating with Ethereum scaling developer Polygon Labs to launch its virtual G-SHOCK watches on the Polygon blockchain. The project will begin with an NFT-based G-SHOCK creator pass, allowing holders to access a dedicated Discord channel and vote on the appearance and design of the watch.
According to a statement, Casio will distribute 15,000 NFT-based G-SHOCK creator passes starting from September 23. Casio customers who have registered on the company's membership website with a CASIO ID can participate in the pre-distribution phase from September 23 to 26, followed by the public distribution phase from September 26 to 29. Earlier in August, Casio submitted a trademark application to the US Patent and Trademark Office covering virtual clothing and watches, NFT-supported media, and virtual goods stores.
September 24
Centralized Finance:
According to sources, cryptocurrency exchange Bullish is one of the companies bidding for FTX. Bullish believes that FTX's customer base is valuable and hopes to "convert as many FTX customers as possible into Bullish customers." In addition to Bullish, Tribe Capital has also made a bid, and the company's venture capital portfolio includes FTX. According to a document submitted to the Delaware court, FTX is conducting due diligence and sharing information with multiple parties to negotiate "acquisitions, mergers, capital reorganizations, or other transactions" to relaunch the company. A stakeholder briefing released on Monday shows that FTX has contacted over 75 bidders since May 2023 to assess the possibility of relaunching the exchange. According to the filing, the bid deadline for FTX 2.0 is September 24. Additionally, a document submitted to the court on Monday shows that FTX's assets are approximately $7 billion, including about $1.2 billion in SOL tokens.
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