Daily Report | Ethereum Foundation sells ETH 4 times this month; BingX suffers a hacker attack; German government shuts down 47 exchanges

Compilation: Fairy, ChainCatcher

Important Information:

"What Important Events Have Occurred in the Past 24 Hours"

Terraform Labs Granted Approval by US Bankruptcy Court to Commence Liquidation

According to Reuters, Terraform Labs was granted approval by the US Bankruptcy Court on Thursday to commence liquidation. US Bankruptcy Judge Brendan Shannon approved Terraform's bankruptcy plan at a hearing held in Wilmington, Delaware, stating that this was a "popular alternative" for investor losses to continue litigation. As part of the bankruptcy liquidation, Terraform estimates that it will be able to pay between $1.845 billion and $4.422 billion to cryptocurrency investors and other stakeholders.

Earlier news stated that according to an official announcement from Terra, the confirmation hearing for the Chapter 11 bankruptcy reorganization plan of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) is scheduled to be held on September 19, 2024, at 10 am Eastern Time (10 pm Beijing Time).

Franklin Templeton Plans to Launch Mutual Fund on Solana Blockchain

At the Solana Breakpoint conference, asset management company Franklin Templeton plans to launch a mutual fund on the Solana blockchain.

BNB Chain Announces Integration with Telegram

BNB Chain announced that it has integrated with the messaging application Telegram. This integration makes Web3 more accessible, allowing users to manage BNB using the Telegram wallet.

Data: Ethereum Foundation Sells ETH Four Times This Month, Totaling 950 ETH Sold

According to Spot on Chain statistics, the Ethereum Foundation has sold ETH four times this month, totaling 950 ETH (approximately $2.27 million), with an average price of $2392, and sales occurring every 4-7 days.

German Government Shuts Down 47 Exchanges, Citing "Illegal Activities"

German authorities have shut down 47 cryptocurrency exchanges suspected of being involved in money laundering and other criminal activities, stating that these exchanges deliberately failed to fulfill their obligations to conduct identity and background checks on customers. Some of these exchanges include Xchange cash, 60cek, Baksman, and several smaller platforms. One of the exchanges has been active since 2012, while others were established in the previous year.

BingX: Detected Hacker Attack at 4 AM, Emergency Plan Activated

Vivien Lin, Chief Product Officer of BingX, posted on the X platform, stating: "At around 4 AM, the technical team detected abnormal network access and suspected that BingX's hot wallet was under hacker attack. We immediately activated the emergency plan, including emergency asset transfers and suspension of withdrawals. Currently, there has been a small amount of asset loss, but the amount is not large and is still being calculated.

To protect user assets, we adopt a layered management system, with the majority of assets stored in cold wallets, and only a very small amount of assets stored in hot wallets for withdrawals. To ensure security, we are conducting emergency checks and strengthening wallet services, temporarily suspending withdrawals. We deeply apologize for any inconvenience caused. Withdrawals will be restored within 24 hours at the latest."

Jupiter Announces Acquisition of Cross-Chain AMM Aggregator Coinhall

At the Solana Breakpoint conference, in addition to acquiring the Solana browser SolanaFM, the Solana ecosystem DEX aggregator Jupiter announced the acquisition of the cross-chain AMM aggregator Coinhall.

According to the crypto data platform Rootdata, Coinhall provides real-time prices, charts, trade aggregation, and analysis for all AMM DEXs in the Terra, Juno, Near, and Cosmos ecosystems.

Societe Generale Subsidiary SG Forge to Issue Euro Stablecoin EURCV on Solana

According to Coindesk, Societe Generale subsidiary SG Forge announced the launch of the Euro stablecoin EUR CoinVertible (EURCV) on the Solana blockchain.

EURCV was previously issued on the Ethereum blockchain last year as a highly regulated Euro alternative to USD stablecoins such as Tether and Circle.

However, EURCV's performance on Ethereum has not been ideal. According to Etherscan data, there are currently only 28 holders, 154 transaction records, and a circulation of 33 million. SG Forge hopes to test the demand of crypto users for a Euro stablecoin on a faster and lower-cost network by issuing EURCV on Solana.

"What Exciting Articles Have Been Published in the Past 24 Hours"

From Dogs, Hamster to Catizen, Who Will Be the Next Project to Land on Binance?

"Recent Projects Launched on Binance Launchpool and DePIN Ecosystem Analysis"

Since mid-August, Binance Launchpool has consecutively launched four projects related to the Ton ecosystem. First, it was the native token Toncoin (TON) of the Ton network, followed by the meme project Dogs (DOGS) within its ecosystem. On September 12th and 13th, it also launched the small game Hamster Kombat (HMSTER) and the new coin mining for the cat-themed project Catizen (CATI), supporting users to participate in HAMSTER and CATI token airdrop rewards by staking BNB and FDUSD.

On September 20th, Binance officially started trading the Catizen token CATI.

As of September 20th, Binance has listed six projects related to Ton, including the small game Notcoin, the Telegram bot Banana Gun, the native token TON, the meme project Dogs, the small game Hamster Kombat (HMSTER), and the cat-themed project Catizen (CATI).

Dogs, Catizen, and Hamster Kombat are all star projects in the Ton ecosystem. Binance's multiple proactive moves towards its ecosystem projects seem to imply that the battle for user traffic in the Ton ecosystem has begun.

Neiro Universe, Trump Buying Hamburgers, Vitalik's Dog… A Review of Recent Trends on the ETH Mainnet

The Federal Reserve has finally hinted at raising interest rates, causing the market to rise in response. Retail investors, who have been eagerly anticipating the "altcoin season," have seen their dreams reflected in the prices of these alternative cryptocurrencies.

Meanwhile, the on-chain world, which has always been indifferent to the market's mood, has been lively for quite some time. Take the recent hot trends on the Ethereum mainnet, for example: the Neiro upper and lower case dispute is still ongoing. Two weeks after the uppercase $NEIRO was listed, the lowercase $Neiro, representing the community's power, was directly listed on Binance and saw an almost 30-fold increase in just two days. The community was jubilant, and the frenzy surrounding the lowercase $Neiro completely ignited the on-chain excitement.

Following the success of the lowercase $Neiro, the concept coins related to the Neiro universe also saw a surge, with almost a tenfold increase in value. However, the speed of changing trends always exceeds your imagination. Before the excitement around the Neiro universe could settle, news of Trump buying hamburgers with Bitcoin today has benefited another group of people. The Ethereum-based token $BURGER, named after the incident, had a market value of $5 million within half a day of its launch, and related concept tokens followed suit.

Analyzing the Competitive Landscape of DePIN: Top Projects Occupy 80% of the Market but Have Minimal Revenue, Capital Influx on the Horizon

As one of the important drivers pushing crypto towards the mainstream, the DePIN ecosystem has shown strong momentum and has become one of the main investment themes attracting a swarm of capital. However, at the current stage, the expansion of the DePIN market is mainly driven by the "strides" of top projects, with limited overall profitability and facing risks such as regulation and network security.

Overall market size has exceeded $20 billion, with Ethereum and Solana ecosystems as the main focus

Data from DePINscan shows that as of September 19th, there are approximately 276 DePIN projects, mainly categorized as AI, wireless, energy, services, sensors, data, and computing. The overall market value of DePIN has now reached nearly $21.23 billion, an increase of 17.1% since the beginning of the year. The top ten projects account for approximately 80.5% of the market value, totaling $17.08 billion.

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