Highlights Preview:
- The first season of LotM game under Yuga Labs will start open testing on September 26th
- Yield Guild Games (YGG) will unlock approximately 12.42 million tokens worth about 2.63 million USD on September 27th at 22:00
- Bitcoin options worth over 3 billion USD and Ethereum options worth about 1.8 billion USD on Deribit will expire on September 29th
- Hardware wallet OneKey will stop accepting new user applications from mainland China, Russia, and other countries or regions starting from September 30th
- Bitget will comprehensively upgrade its KYC process, and existing users need to complete KYC certification before October 1st
- Optimism (OP) will unlock approximately 24.16 million tokens worth about 31.17 million USD on September 30th
- The Arbitrum Odyssey event will be relaunched next week for a duration of 7 weeks
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September 25th
Exchanges:
Bitstamp to Stop Offering Ethereum Staking Services to US Customers from September 25th
Bitstamp will stop offering Ethereum staking services to its US customers from September 25th. Bobby Zagotta, CEO of Bitstamp US, stated that customers will continue to receive staking rewards until September 25, 2023, after which all staked assets will be unstaked. All other Bitstamp services will remain unaffected. The rewards will be credited to users' main account balance along with the principal. The company stated that the closure of staking services is due to the regulatory environment in the United States. The US Securities and Exchange Commission (SEC) has targeted staking services in multiple enforcement actions, claiming that these staking projects fall under investment contracts under the Howey test in lawsuits against Coinbase and Binance.
A spokesperson for Binance stated, "Binance will change the provider for euro deposits and withdrawals via bank transfer (SEPA). Our current euro bank partner, Paysafe Payment Solutions Limited, will stop providing these services to Binance users from September 25, 2023. Users will need to update their bank details for depositing into Binance accounts and may need to accept new terms and conditions to continue using SEPA services after this date."
Project Updates:
Binance Labs announced the 12 incubation projects for the sixth season, including: Infrastructure: 1. Vistara, a one-click aggregation deployment framework; 2. UXUY, a multi-chain platform based on MPC and AA wallet technology; DeFi: 3. BBOX, a perpetual decentralized exchange on Linea; 4. Derivio, a decentralized structured derivatives ecosystem based on zkSync; 5. Ethena, a derivative infrastructure provider that converts ETH into native encrypted stablecoins; 6. Shogun, a chain-agnostic order flow aggregator and intelligent liquidity router; AI-driven DApp: 7. MyShell, a Web3 chatbot platform based on AI; 8. NFPrompt, an AI-based Prompt-UGC platform; 9. QnA3, a Web3 knowledge sharing and search platform based on AI; GameFi/SocialFi: 10. Cellula, a self-sustaining life simulation strategy game based on Ethereum; 11. Crypto Café, a learning and earning platform on blockchain and crypto themes; 12. MetaCene, a Web3 native large-scale multiplayer online role-playing game. The sixth season of the incubation program will start on September 25, 2023.
Injective and SPACE ID's .inj Domain Auction to End on September 25th
Injective, a Layer 1 blockchain based on Cosmos, collaborated with the decentralized domain protocol SPACE ID to hold an auction for .inj domains from September 20th to September 25th. Pre-registration for .inj domains will take place from September 26th to October 1st, and public registration will start on October 2nd.
Token Unlock:
Acala (ACA) will unlock approximately 4.66 million tokens worth about 220,000 USD on September 25th at 8:00
September 26th
Exchanges:
Binance will support the Horizen (ZEN) network upgrade and hard fork. Token trading supported by the network will not be affected. Binance is expected to suspend token deposit and withdrawal services for the network from 17:00 on September 26th and will reopen these services after the network stabilizes following the second phase at block height 1,426,200 (estimated to be at 18:00 on September 26th).
Upbit to Delist Dawn Protocol (DAWN), Refereum (RFR), and Maro (MARO) on September 26th
The South Korean cryptocurrency exchange Upbit announced that it will end support for trading Dawn Protocol (DAWN), Refereum (RFR), and Maro (MARO) at 15:00 on September 26th. Upbit stated that Dawn Protocol and Refereum received consistently poor evaluations in internal assessments and failed to respond to requests for investor protection information after being listed as warning projects. Dawn Protocol did not provide sufficient explanations about the use and actual use cases of the DAWN token, and Refereum did not appropriately address its project.
Project Updates:
SEC Urges Court to Allow Testimony from Do Kwon, Planned Response Submission on September 26th
September 27th
Regulatory Updates:
SEC Chairman Gary Gensler is scheduled to testify before the US House Financial Services Committee on September 27th. Ahead of these scheduled hearings, US lawmakers, particularly Republicans, have levied a series of criticisms and accusations against Gensler. Senior member of the House Financial Services Committee, Patrick McHenry, criticized Gensler for his aggressive approach to regulating digital assets, especially considering the lack of clear cryptocurrency guidance outlining which digital assets fall under the SEC's jurisdiction. McHenry and others have expressed concerns about the nature of the SEC's regulatory approach, suggesting that the SEC's regulatory approach prioritizes enforcement over clear guidance.
The UK government is considering banning cold call promotions of financial products as part of a larger campaign to reduce fraud, but has launched a new public consultation to review the potential impact of such a ban on individuals and businesses. The consultation, which includes 19 questions, began this month and will continue until September 27th, aiming to explore the best ways to design and implement the ban. The survey will assess consumers and businesses that may be affected by a comprehensive ban. The UK government has emphasized various fraudulent activities related to consumer and investor fund losses, citing a specific case related to cryptocurrency.
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Project Updates:
Sui Liquidity Staking Hackathon to Compete in Demo Day from September 27-30
The Sui Liquidity Staking Hackathon is now open for registration. The hackathon officially began registration on August 16 and will compete in Demo Day from September 27-30, with results to be announced on October 2. The hackathon's prize pool includes 25 million staked SUI tokens and SUI tokens worth $125,000.
Token Unlock:
Galxe (GAL) will unlock approximately 586,700 tokens worth around $770,000 on September 27 at 20:00.
Yield Guild Games (YGG) will unlock approximately 12.42 million tokens worth around $2.63 million on September 27 at 22:00.
September 28th
Exchanges:
Binance to Remove 20 Cross Margin Trading Pairs on September 28
According to an official announcement, Binance will remove the following cross margin trading pairs at 14:00 (UTC+8) on September 28: (list of trading pairs).
Project Updates:
Ethereum Client Nethermindv Releases v1.20.4, Holesky to Restart on September 28
Blockchain tools and infrastructure developer Nethermind tweeted that the Nethermind client v1.20.4 has been released, and Holesky will restart at 20:00 (Beijing time) on September 28. Previously, the Ethereum Holesky testnet failed to start due to network configuration errors, and developers plan to restart it soon.
Token Unlock:
SingularityNET (AGIX) will unlock approximately 9.68 million tokens worth around $1.73 million on September 28 at 8:00.
Euler (EUL) will unlock approximately 153,000 tokens worth around $410,000 on September 28 at 8:14.
September 29th
Regulatory Updates:
The Malta Financial Services Authority (MFSA) is seeking public feedback on proposed amendments to cryptocurrency company regulation. The regulatory body is rewriting rules for exchanges, custodians, and portfolio managers to align with the rules outlined in the EU's Markets in Crypto-Assets Regulation (MiCA). The consultation is open until September 29, aiming to ensure a smooth transition for virtual financial asset (VFA) service providers in Malta.
Exchanges:
Bitcoin Options Contracts Worth $3 Billion to Expire on September 29
Bitcoin options worth over $3 billion and Ethereum options worth around $1.8 billion on Deribit will expire on September 29. Deribit's Chief Commercial Officer, Luuk Strijers, stated that as the options expiration date approaches, especially coinciding with the end of the quarter, this "may lead to significant trading volume and volatility."
Binance to Remove Spot Trading API Services for 57 Trading Pairs on September 29
Binance will remove spot trading API services for the following trading pairs on September 29 at 10:00 (UTC+8): (list of trading pairs).
FTX Reminder: September 29 Deadline for Customer Claims Submission
FTX reminds its customers on the X platform that the deadline for submitting customer claims is 4:00 PM Eastern Time on September 29, 2023 (4:00 AM Beijing Time on September 30). Customers are advised to log in to the customer claims portal to begin the claims process. FTX requires customers to provide KYC information during the claims process, and the KYC verification process will continue after the deadline.
Additionally, for accounts previously frozen due to a network security event, FTX sent a separate notification on September 17, 2023.
The FTX Unsecured Creditors Official Committee reiterates that the deadline for FTX customers to submit proof of claims is September 30, 2023. To determine if you hold "customer claims," claims must be submitted before the customer bar date. Regardless of KYC status, customer claims must be submitted before 4:00 AM Beijing Time on September 30, 2023.
Previously in June, the FTX Unsecured Creditors Official Committee issued a similar statement.
September 30th
Project Updates:
dYdX to Cancel Trader Fee Discounts and Resume Normal Fees on September 30
dYdX announced an update to the v3 fee schedule, canceling all trader fee discounts and resuming normal fees on September 30 at 1:00 AM Beijing Time. Hedgie holders will be eligible for a 3% fee discount starting from September 30, and holding multiple Hedgies will not increase the discount percentage.
Hardware wallet OneKey announced on Twitter that starting from September 30, 2023, OneKey Card will stop accepting new user applications from the following countries or regions: Mainland China, Iran, North Korea, Syria, Russia, North Macedonia, Sudan, Venezuela, and Zimbabwe. OneKey stated that users who have already activated their cards will not be affected and can continue to use them normally. This move is to strictly comply with local laws and regulatory requirements.
NFT trading platform Rarible announced on X platform that it will permanently support royalties, and therefore, after September 30, Rarible will no longer aggregate orders from OpenSea, LooksRare, and X2Y2. Rarible stated that the royalty principle is at the core of decentralization, continuously confirming the value of creators in each transaction.
Governance Voting:
Curve Finance tweeted that the community vote to "adjust the fee rate of the crvUSD/USDC pool back to 1 bps (0.01%)" has been initiated, and the voting deadline is September 30. Relevant experiments have shown that adopting a 1 bps fee rate for the crvUSD/USDC pool will result in higher trading volume and returns compared to 2 bps (0.02%).
Token Unlock:
Optimism (OP) will unlock approximately 24.16 million tokens worth around $31.17 million on September 30 at 12:00.
October 1st
Exchanges:
Cryptocurrency exchange Bybit to suspend its services in the UK from October 1
Cryptocurrency exchange Bybit announced that starting from 16:00 on October 1, 2023 (Beijing time), it will no longer accept new account applications from confirmed residents/citizens ("UK customers") in the UK. From 16:00 on October 8, 2023, UK customers will no longer be able to make new deposits, create new contracts, or increase any existing positions for all products and services. However, they can reduce and close positions and withdraw funds from the platform. It is recommended that UK customers affected by these measures take action to manage and reduce their positions before 16:00 on January 8, 2024. After the specified deadline, their uncleared positions will be liquidated, and the liquidation funds will be available for withdrawal.
Bitget announced a comprehensive upgrade to the KYC process to better protect user rights, comply with global cryptocurrency industry regulatory requirements, and create a secure and compliant trading environment. Starting from September 1, new registered users who complete KYC verification can use the full range of Bitget services. To ensure normal use, old users need to complete KYC verification before October 1. In case of any issues, they can contact customer service for 24/7 official support.
Project Updates:
Lybra Finance reminded on Twitter that the deadline for LBR V1 migration is 8:00 on October 1 (Beijing time), and any V1 LBR not migrated before the deadline will be permanently destroyed from the circulating supply. Earlier in July, Lybra Finance launched the V2 testnet on the Arbitrum Goerli network. Through the V2 upgrade, users can use staked tokens from RocketPool, Binance, and Swell as collateral to generate the stablecoin eUSD, and this version also introduces a complementary stablecoin called peUSD.
In an email sent to some users on August 14, PayPal stated that due to new rules introduced by the Financial Conduct Authority (FCA) in the UK, it will temporarily suspend cryptocurrency purchase services in the UK from October 1, 2023, and will resume in early 2024 (specific date not provided). The company did not specify which rules are involved but mentioned that these rules will require it to "implement additional steps before customers purchase cryptocurrency."
Despite being unable to purchase cryptocurrency, PayPal stated that users will be able to hold and sell their cryptocurrency during the service interruption. The company did not specify whether users can transfer cryptocurrency to other wallets and exchanges, but currently, this feature seems to be applicable only to US users. The company assured users that their cryptocurrency remains secure and stated that holding the cryptocurrency will not incur fees.
Specific Time TBD
Project Updates:
Arbitrum Odyssey event to relaunch next week, lasting for 7 weeks
Ethereum Layer 2 scaling solution Arbitrum announced on X platform that the Arbitrum Odyssey event will relaunch next week and will last for 7 weeks. Completing tasks and exploring 13 projects on Arbitrum One will earn users custom badges. This event will not involve any form of airdrop or reward, and badges are the only items that users can collect after completing tasks. The new Arbitrum Odyssey will include the following 13 projects: GMX, Aboard, tofuNFT, Uniswap, ApeX Protocol, 1inch Network, Premia Blue, DODO, Swapr, Treasure, BattleFly DAO, handle.fi, SushiSwap.
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