Compiled by: Luan Peng, ChainCatcher
"What Important Events Happened This Week (9.16-9.22)"
ChainCatcher announced that it now supports English, Japanese, and Korean language versions and has recently completed an app upgrade.
Previously, ChainCatcher had completed deep integration with the leading Web3 asset data platform RootData.
In the future, ChainCatcher will support more languages to provide users with one-stop Web3 information and data services.
2. Maryland Police: Phishing Scam Targeting Gmail Users Spreading, Extorting Bitcoin
According to Bitcoin.com, Maryland police issued a warning that a phishing scam targeting Gmail users is spreading. Scammers extort Bitcoin by sending Google Maps photos with the victim's address and threatening to publicly disclose false damaging information.
The police explained that scammers typically use extortion tactics, claiming to have damaging information about the victim and threatening to publicly disclose it if Bitcoin is not paid. Scammers usually provide two options: pay the ransom or face the risk of information disclosure.
Similar scams have also occurred in California, Nevada, and other locations.
3. Binance CEO: Task Force Working to Rescue Tigran Gambaryan, Whose Health Is Deteriorating
According to Cointelegraph, Binance CEO Richard Teng stated that his team has been working "day and night" to bring back to the United States the detained executive Tigran Gambaryan in Nigeria, whose health is deteriorating. "We have repeatedly appealed to the Nigerian government to release Tigran so he can go home and receive the proper treatment he needs."
"There is no need to detain our employee. He has been unjustly and unfairly detained," Teng said at the TOKEN2049 conference held in Singapore on September 19.
"This is painful for all of us," he said, "especially for his family. For Binance, this is our top priority. We have an internal task force working around the clock, looking for different avenues from legal to political (to help Tigran return home)."
Teng hopes the United States can designate Gambaryan as unlawfully detained to expedite the process. He added that Binance is also trying to appeal to the Nigerian government to release Tigran on humanitarian grounds.
He also mentioned that since being detained in Nigeria, Gambaryan has suffered two bouts of malaria and pneumonia. His deteriorating health even led to him fainting in court in May.
4. Token2049 Launches Decentralized AI Association DAIS to Promote Safe and Beneficial AI
Token2049 has launched the decentralized AI association DAIS to promote safe and beneficial AI by fostering collaboration between organizations working in the emerging decentralized AI ecosystem, including cryptocurrency and others.
With the support of founding members CETI Al, Filecoin Foundation, Bloq, Hypercycle, Morpheus, Hemi, Odyssey, and Lumerin, the non-profit DAIS will help the industry come together to overcome capital, engineering, policy, and public education barriers to better compete in the AI arms race against centralized models. DAIS believes that AI must be open and decentralized to serve humanity, rather than the interests of a few tech giants.
5. Russian Man Charged with Treason for Sending Cryptocurrency to Ukraine
A Russian man has been arrested and faces treason charges for sending cryptocurrency to the Ukrainian armed forces. A video released by the Federal Security Service (FSB) of Russia shows agents tackling the man to the ground and detaining him. According to the Russian newspaper "Novaya Gazeta," the cryptocurrency was allegedly used to "purchase weapons, ammunition, and military gear."
It is currently unclear what penalties the unidentified man will face if convicted.
6. UAE Blockchain and AI Company Capstone Technology Completes $5.45 Million Financing
The UAE blockchain and artificial intelligence company Capstone Technology has completed a $5.45 million financing to drive the development of its GAYA blockchain project. The project aims to create a network for entrepreneurs in the gaming, AI, and entertainment industries. Capstone Technology plans to use these funds to manage technological assets, develop Web3 applications, expand regional influence, and improve its platform.
At the Solana Breakpoint 2024 conference, PayPal's blockchain strategy and cryptocurrency head José Fernández stated that Ethereum is not the best solution for the payments sector, which is why PayPal chose to issue stablecoins on the Solana network.
Fernández pointed out that Solana provides token scalability, lower transaction costs, and can process 1,000 transactions per second, making it very suitable for mainstream adoption.
At the Solana Breakpoint conference, Chaos Labs Founder & CEO Omer Goldberg stated that the decentralized oracle protocol Edge, launched last week, has processed over $40 billion in transactions.
Reportedly, Edge is the primary oracle for Jupiter, capable of dynamically and in real-time adjusting on-chain risk parameters to enhance the responsiveness and efficiency of DeFi platforms in volatile markets, and supports secure on-chain delivery of custom data points.
According to data from the Web3 asset data platform RootData, Chaos Labs announced on September 19 that it had received investment from PayPal Ventures; on August 15, Chaos Labs announced a $55 million Series A financing led by Haun Ventures, with participation from F-Prime Capital, Slow Ventures, Spartan Capital, as well as Lightspeed Venture Partners, Galaxy Ventures, and PayPal Ventures.
9. Circle Co-Founder: Silicon Valley Veteran Bradley Horowitz Joins Circle Board
Circle co-founder Jeremy Allaire announced that Bradley Horowitz has joined the Circle board.
Bradley Horowitz is a veteran product and business leader, entrepreneur, and prominent seed investor in Silicon Valley. He previously led the development of several popular products at Google and was responsible for search and media infrastructure at Yahoo.
Jeremy Allaire stated that Bradley's humility, passion, creativity, and wisdom will make significant contributions to the company, and he looks forward to working with him to advance the construction of the new infrastructure platform for the internet economy.
10. Terraform Labs Receives Approval from US Bankruptcy Court to Begin Liquidation
According to Reuters, Terraform Labs received approval from the US Bankruptcy Court on Thursday to begin liquidation. US Bankruptcy Judge Brendan Shannon approved Terraform's bankruptcy plan at a hearing held in Wilmington, Delaware, calling it a "popular alternative" to continued litigation over investor losses. As part of the bankruptcy liquidation, Terraform estimates it will be able to pay between $1.845 billion and $4.422 billion to cryptocurrency investors and other stakeholders.
Earlier News 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 a.m. Eastern Time (10 p.m. Beijing Time).
"What are the exciting articles worth reading this week (9.16-9.22)"
1. In-depth Research Report: Predicting Market Breakout, Analyzing Leading Players Polymarket and Azuro
The leading player in the prediction market, Polymarket, is about to launch its coin. This report can help you further understand the prediction market.
2. Multicoin Co-founder's Token2049 Speech: Why Solana Will Surpass Ethereum?
With the rapid development of blockchain technology, Ethereum has achieved great success as a leader in the industry. However, after 9 years of development, it took 5 years to finalize its expansion plan and another 7 years to complete the transition from Proof of Work (PoW) to Proof of Stake (PoS). Ethereum has never been clear about what it wants to become. The expansion plan keeps changing, and there is no clear direction.
Compared to Ethereum's confusion, Multicoin co-founder Kyle Samani expressed high expectations for Solana's future in his keynote speech "Why SOL Will Flip ETH" at the Token2049 conference on September 19. The entire community has rallied around a common vision of "decentralized Nasdaq" and is moving forward in the same direction. Golden Finance has compiled Kyle Samani's speech content for readers.
3. From Dogs, Hamster to Catizen, Who Will Be the Next Project to Land on Binance?
Since mid-August, Binance Launchpool has successively launched 4 projects related to the Ton ecosystem, starting with the native token Toncoin (TON), followed by the meme project Dogs (DOGS), and then the mini-games Hamster Kombat (HMSTER) and Catizen (CATI) new token mining on September 12 and 13, supporting users to participate in HAMSTER and CATI token airdrop rewards by staking BNB and FDUSD.
On September 20, Binance officially opened trading for the Catizen token CATI.
As of September 20, Binance has launched 6 projects related to Ton, including the mini-game Notcoin, the Telegram bot Banana Gun, the native token TON, the meme project Dogs, the Hamster Kombat (HMSTER), and the Catizen (CATI).
Dogs, Catizen, and Hamster Kombat are all star projects in the Ton ecosystem, and Binance's frequent actions regarding its ecosystem projects seem to indicate that the battle for user traffic in the Ton ecosystem has begun.
Not only keen on launching Ton ecosystem projects, Binance was also reported to have personally taken charge of the mini-game project Moonbix a few days ago, which was later confirmed by the official.
As a barometer of the crypto industry, Binance's frequent actions regarding Ton and its ecosystem projects have forced the crypto community to re-evaluate its ecosystem projects. Who will be the next project to be listed on Binance? Which projects have potential? These have become hot topics of discussion in the crypto community.
As an important driver of crypto's mainstream adoption, the DePIN ecosystem has shown strong momentum, and it has become one of the main investment themes for capital influx. However, the current expansion of the DePIN market is mainly driven by top projects "striding" forward, with limited overall profitability and facing risks such as regulation and network security.
Nerio has gained over 20 times since its listing on Binance, demonstrating the listing effect of Binance and breaking the previous impression of VC tokens listed on Binance continuously declining. If listing on a CEX is seen as the ultimate goal and positive news, which types of tokens have the most advantages? What is the listing effect of top exchanges? This article compiles the listing situation on top exchanges since August 1 and attempts to answer these questions.
6. The Boot Drops! The Fed Cuts Interest Rates, Is the Big Bull Market for Bitcoin About to Begin?
The boot has finally dropped. In the early hours of September 19, Beijing time, the Federal Reserve announced a 50 basis point cut in the federal funds rate target range to a level between 4.75% and 5.00%. This is the first rate cut by the Federal Reserve since March 2020, and prior to this, to alleviate domestic inflation in the United States, the Federal Reserve raised interest rates 11 times from March 2022 to July 2023, with a cumulative increase of 525 basis points.
This means that the US monetary policy has shifted from tightening to easing, and Bitcoin temporarily bid farewell to its downturn, rebounding to over $60,000 per coin just before the interest rate cut and then surging to near a 20-day high. In pre-market trading today, crypto-related stocks rose, with Coinbase (COIN.US) up over 3% and MicroStrategy (MSTR.US) up over 4%.
On September 18, the highly anticipated annual Web3 summit TOKEN2049 officially kicked off in Singapore, bringing together global Web3 heavyweights and providing intense highlights for the long-dormant crypto market.
During the conference, altcoins experienced a general rise, and many projects chose to announce important strategic plans at this time. ChainCatcher has summarized the recent developments of some important projects.
8. Arthur Hayes on the Fed's Interest Rate Cut: Markets May Face Unexpected Impact
In an interview with CoinDesk's Markets Daily, BitMEX co-founder and Maelstrom Chief Information Officer Arthur Hayes discussed the impact of the Fed's interest rate cut, his views on this year's cryptocurrency market trends, and why he invests in Bitcoin and NFTs.
BitMEX co-founder and Maelstrom Chief Information Officer Arthur Hayes had a conversation with Markets Daily host Jennifer Sanasie and CoinDesk's Technology and Protocol Managing Editor Brad Keoun, sharing his views on whether a 25 or 50 basis point cut by the Fed will lead to financial turmoil or a short-term rebound. He also discussed the potential impact of government spending, inflation, and the reliance of major economies on fiat currency systems, as well as the dynamics of Bitcoin compared to traditional markets. The following record has been lightly edited for clarity.
The US will hold a Federal Reserve meeting today. What do you think we will see? How will this affect the market?
9. Two Years of Ethereum's Transition to PoS: Deep Reasons for ETH's Price Sluggishness
The transition of Ethereum to a PoS mechanism has long been seen as helpful in achieving currency deflation and meeting the needs of larger-scale applications, which would be beneficial for ETH price appreciation. However, on the occasion of the two-year transition anniversary, Ethereum has faced many doubts. On the surface, these doubts have arisen mainly because ETH has performed poorly in the recent market cycle, especially compared to BTC and SOL during the same period, with price increases falling short of expectations.
However, at a deeper level, these doubts reflect two main challenges in Ethereum's development: competition between Layer1 and Layer2, with the core issue being how to position the role of Layer2 and its relationship with Ethereum, and the contradiction between staking and liquidity, with the core issue being how to position the attributes of ETH.
To further demonstrate the current development status of Ethereum and the challenges behind the doubts, the data column PAData under PANews comprehensively analyzed the changes in Ethereum's transaction fees, Blob fees, and Layer2 demand, as well as the changes in Ethereum's staking and lock-up amounts. The analysis revealed that: first, Ethereum has reduced transaction fees, but Layer2 has diverted on-chain activity demand and interacted with Ethereum at lower prices, challenging the value feedback and accumulation of ETH. Second, if ETH is positioned as a settlement currency, expecting sustained high demand for Ethereum to achieve long-term stable appreciation of ETH, the market's willingness to pay for this long-term expectation may waver in the face of intense competition.
10. A Quick Look at zkTLS: Secure Information Transmission, the Next ZK Narrative?
Blockchain Oracle: Blockchain API for Public Data
zkTLS: Blockchain API for Any Data
Zero-Knowledge Transport Layer Service (zkTLS) could be a fatal blow to closed enterprise giant networks. Emerging networks now have the ability to compete with giants like Facebook and Amazon by leveraging zkTLS.
zkTLS allows users to migrate their identity information on the internet without permission, providing a powerful way for new networks to utilize existing networks. It enables users to switch freely between different platforms without starting from scratch. Most importantly, it achieves this goal without compromising data privacy and security.
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