Compilation: Luan Peng, ChainCatcher
Important Information:
- X Platform Releases First Transparency Report, Took Action Against Only 2361 Hate Content Accounts in the First Half of This Year
- Binance Still Serving Some Users in Russia Since Announcing Exit from the Market Last Year
- Bloomberg: Dubai Implements Stricter Regulations on Cryptocurrency Investment Marketing
- LongHash Ventures Partner: Funds and Direct Investments Are Drying Up, Bullish Market for Q4 This Year and Q1 Next Year
- Japanese Financial Bureau Issues Business Improvement Order to DMM Bitcoin
- Decentralized Cryptocurrency Exchange SphereX Announces Mainnet Launch
"What Important Events Have Happened in the Last 24 Hours"
According to Solidot, since Elon Musk acquired its predecessor Twitter in 2022, X Platform has released its first transparency report. Unlike Twitter's previous 50-page transparency report released every half year, X'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 banned. In the first half of 2024, X received 22.4 million reports and banned 5.2 million accounts.
It is noteworthy that X took action against only 2361 hate content accounts, far fewer than Twitter's previous handling of 1 million hate content accounts. Turkey made the most content removal requests, and X fulfilled 60% of them.
Binance Still Serving Some Users in Russia Since Announcing Exit from the Market Last Year
According to Cointelegraph, since Binance announced its exit from Russia in September last year, the traffic to its local website has significantly decreased.
Based on data shared by the web analytics platform SimilarWeb, from August 2023 to July 2024, Binance's website traffic in Russia decreased by 43%. Despite the significant decrease, Russia still remains one of the largest sources of traffic to Binance's website during this period, accounting for 6% of its total visits. The traffic share from Russia is comparable to Binance's other major markets, including Turkey and Vietnam, which account for 8% and 6.6% of its total traffic, respectively. Binance declined to disclose whether its significant traffic share in Russia or the provision of certain services to Russian users means that the company is still operating or resuming operations in the market.
A Binance spokesperson stated, "We will continue to serve a limited number of existing users in Russia to ensure the security of their digital assets." The representative emphasized that the cryptocurrency exchange "complies with global sanctions regulations" and "fully complies with restrictions on individuals, entities, and countries subject to international sanctions."
Bloomberg: Dubai Implements Stricter Regulations on Cryptocurrency Investment Marketing
Dubai's cryptocurrency regulatory agency has updated its marketing guidelines for virtual assets, requiring companies to include disclaimers in their marketing materials to clearly outline investment risks.
Starting from October 1, companies wishing to promote virtual assets in the UAE must include a "significant" disclaimer stating that "virtual assets may partially or completely lose their value and are subject to extreme volatility," the Dubai Virtual Assets Regulatory Authority (VARA) announced on Thursday.
Matthew White, CEO of VARA, stated, "We believe that by providing clear and actionable guidance, we can help virtual asset service providers (VASPs) responsibly deliver services while promoting trust and transparency in the market."
LongHash Ventures partner emmacui.eth shared views on Token2049 and Solana Breakpoint on X.
Key points include:
Both funds and direct investment capital are drying up. Western general partners (GPs) are flocking to Asia for fundraising. GPs unable to raise the next fund are seeking to change investment mandates to return capital. Funds are lowering fundraising targets. The distributed capital return rate (DPI) for 2021 and beyond is very poor, and the multiple on invested capital (MOIC) is difficult to compare.
Investor fatigue is real. There are over 700 off-site activities, most of which are infrastructure projects. Everyone is trying to find a granular narrative to differentiate from other infrastructure projects in the same category.
Solana Breakpoint is refreshing. This event is full of developers rather than business development personnel.
The entire market is bullish for the fourth quarter of 2024 and the first quarter of next year. The main catalysts are interest rate cuts and the U.S. presidential election. We have already seen the price trend after Token2049.
Reputation is important. As cryptocurrency matures, its surface area becomes larger. Investors/projects can conduct more due diligence on specific founders/projects/investors in more ways. People are starting to put in more effort for due diligence before investing/hiring/joining a project. This is a sign of maturity.
Japanese Financial Bureau Issues Business Improvement Order to DMM Bitcoin
According to the official website, the Japanese Financial Bureau stated that, based on Article 63-16 of the Japanese Securities Law, the Kanto Local Finance Bureau issued a business improvement order to the cryptocurrency exchange DMM Bitcoin.
Decentralized Cryptocurrency Exchange SphereX Announces Mainnet Launch
The decentralized cryptocurrency exchange SphereX has announced the official launch of its mainnet, supported by zkLink Nova's Layer-2 scaling technology. SphereX aims to ensure lower gas fees, achieve more frequent transactions, realize high transaction volume, and seamless scalability.
Adrienne Harris, director of the New York Department of Financial Services (NYDFS), stated that she welcomes federal cryptocurrency legislation, but believes that states should retain their regulatory authority.
Adrienne Harris said, "We may be more eager than anyone to work with federal partners and see the enactment of federal legislation and regulation. I think it's very important that legislation is passed and regulation is put in place, but states should still retain their regulatory role."
Harris expressed optimism about the possibility of relevant legislation being pushed through the House and Senate soon, noting that the NYDFS has been in dialogue with members of both parties in both houses over the past few years.
Additionally, Harris mentioned that the NYDFS has one of the largest cryptocurrency departments globally, with 60 full-time employees dedicated to the cryptocurrency industry.
Russian Dagestan Police Raid Underground Illegal Cryptocurrency Mining Farm, Seize 17 Devices
According to Cryptonews, the Russian Dagestan police, in conjunction with energy officials, raided an underground cryptocurrency mining hideout in Makhachkala and discovered 17 mining devices. Video footage released by the authorities showed the operation of these devices in a small underground space several meters deep.
Officials stated that the mining farm was operated by "electricity thieves," and miners had begun establishing underground mining farms and mobile mining units in multiple locations.
Furthermore, these illegal mining activities led to a fire at the local 110 kV Novaya substation, causing a power outage in parts of the capital for several days. The government plans to invest approximately 3 billion rubles (about $32.5 million) to repair the damaged energy facilities.
New York City Mayor Eric Adams, a Supporter of Cryptocurrency, Indicted on Corruption Charges
According to Cointelegraph, New York City Mayor Eric Adams, a supporter of cryptocurrency, has been indicted on corruption charges, becoming the first mayor in New York's history to be charged while in office.
These charges were brought after an investigation by the Federal Bureau of Investigation (FBI) in November 2023, which searched Adams' personal electronic devices, suspecting that he had received illegal donations from the Turkish government in 2021.
Eric Adams has been a long-time supporter of cryptocurrency, with his first three paychecks being in BTC and ETH, and he pledged to make New York the "center of the cryptocurrency industry" when he was elected mayor in 2021.
The Seoul Central Police Station is pursuing a criminal gang that robbed victims under the pretext of virtual asset trading. On the 23rd, the gang forcibly took a bag containing approximately 180 million Korean won in cash from an office in central Seoul by threatening the victim with violence. The victim had intended to conduct a face-to-face virtual asset trade in their office at the time of the crime, refused to hand over the money to the gang, and said, "I haven't received the coins yet."
The police have arrested four suspects, including the ringleader, and have applied for an arrest warrant for the ringleader. They are currently tracking the whereabouts of the remaining three suspects.
OpenAI CEO Announces Major Senior Leadership Changes, Will Refocus on Technology and Products
OpenAI founder and CEO Sam Altman announced on social media that there are significant senior leadership changes at the company. Chief Technology Officer Mira Murati, Chief Scientist Bob, and another executive, Barret, will be leaving. Altman stated that these decisions were independent and amicable. Mark will take over as Senior Vice President of Research, co-leading the research team with Chief Scientist Jakub. Josh Achiam will serve as the Mission Alignment Officer, while Kevin and Srinivas will continue to lead the applications team, and Matt Knight will serve as Chief Information Security Officer.
Altman emphasized that while the changes were sudden, the leadership changes are a natural result of the company's rapid growth. He plans to refocus on the company's technology and products and will discuss these changes further at an all-hands meeting.
U.S. Vice President Harris stated during a speech at the Pittsburgh Economic Club on Wednesday that under her leadership, the U.S. will "recommit to" maintaining global leadership in defining the fields that will shape the next century, including artificial intelligence and quantum computing, blockchain, and other emerging technologies.
During a recent fundraising event on Wall Street, Harris stated that artificial intelligence and cryptocurrency are part of her vision for the "opportunity economy."
In an extensive 80-page economic plan, Harris reiterated, "We will encourage innovative technologies such as artificial intelligence and digital assets while protecting consumers and investors. We will create a safe business environment with consistent and transparent rules."
"What are the exciting articles worth reading in the past 24 hours"
Interview with Puffpaw Founder Reffo: Smoking "Mining" is Cool, but How to Implement It?
Smokers have good news, as soon smoking can also make money.
To be precise, this is a project to help people quit smoking, and smoking is just a behavior. The purpose is to quit smoking, and X-To-Earn is the mechanism.
Puffpaw, a project on Berachain that focuses on "quitting smoking and making money," announced on September 5 that it had completed a $6 million seed round of financing. As the first DePIN project on Berachain, Puffpaw has received support from the Berachain Foundation.
"We are now developing our own e-cigarettes and sensor devices. At this stage, it is a brand-new self-owned e-cigarette brand. By exploring Web3 to enhance the consumer experience and help people quit smoking. In the future, our sensors will support more e-cigarette brands. Selling e-cigarettes and cartridges is not our ultimate goal," said Puffpaw founder Reffo in an interview with ChainCatcher.
Reffo and two other partners are already in the e-cigarette industry and have their own brands in the United States, with a complete supply chain covering production, OEM, and tobacco. After spending some time in the Web3 industry, Reffo gradually described the idea of "smoking to make money" - combining e-cigarettes with blockchain for e-commerce applications. So, since the end of last year, they have been working on launching this idea.
Currently, Puffpaw has completed the preliminary e-cigarette and hardware development work, and the team has expanded to 15 people. They will launch TG mini-games in October and conduct a cold start in the form of NFTs.
Interestingly, Reffo also mentioned that they chose Berachain because its culture and community consensus matched the project, and also because the name of Berachain's founder, "Smokey," sounded related to smoking.
Why Was SBF's Former Girlfriend Caroline Ellison Sentenced to Only Two Years in Prison?
On September 25, U.S. Judge Lewis Kaplan sentenced Caroline Ellison, the main witness in the case of FTX's former CEO SBF (Sam Bankman-Fried), to two years in prison. Ellison will also be forfeiting approximately $11 billion and will serve her sentence in a "minimum-security prison."
Ellison, 29, pleaded guilty about two years ago (December 2022), admitting to seven charges, including two counts of conspiracy to commit wire fraud, two counts of actual wire fraud, one count of conspiracy to commit commodity fraud, one count of conspiracy to commit securities fraud, and one count of conspiracy to commit money laundering, facing a maximum sentence of 110 years. She testified against SBF for nearly three days in a trial last November.
Binance Makes Another Move, Will Pre-Market Trading Cause a BNB Flywheel Effect?
Last night, according to official information from Binance, Binance has launched pre-market trading services, allowing users to build positions in token spot markets before they are listed. In an interview with The Block, a Binance spokesperson pointed out that while other cryptocurrency exchanges also offer pre-market trading, it is usually limited to derivatives trading, whereas Binance is the "first exchange to provide real token trading for users during pre-market trading." Through this service, tokens will be specifically allocated and generated for users to hold and trade on the Binance platform before they are listed.
The biggest difference between Binance's pre-market trading service and that of other centralized exchanges is that Binance's pre-market trading involves "spot" trading, while other exchanges mainly trade "futures." Below, Odaily will analyze Binance's pre-market trading service, including the participation process, product features, and potential impact on the market.
(Any views expressed in this article are the personal views of the author and should not be used as a basis for investment decisions, nor should they be considered as recommendations or advice for engaging in investment transactions.)
This week has been truly shocking. If you missed the Token2049 conference held in Singapore last week, I feel sorry for you. Over 20,000 enthusiastic participants expressed their passion in various ways. I have attended almost every race since the start of the night F1 race in Singapore, but I have never seen the city so vibrant.
The number of attendees at Token2049 doubled compared to last year. I heard that some lesser-known projects were charging up to $650,000 for speaking on small stages.
Price Doubles, TVL Returns, Reanalyzing the First Resurgent Veteran Leader Aave
Leading lending platform Aave (AAVE) has shown a reverse trend independent of the sector's weakness in the past few months, quietly doubling in price from around $80 on August 5 to over $170 today, while tokens of various veteran DeFi protocols have continued to stagnate.
As the Federal Reserve officially enters a rate-cutting cycle, discussions about the return of the "altcoin season," especially the call for "DeFi resurgence," have been growing louder, and Aave seems to have already led the resurgence. In the following article, Green LightCapital has reanalyzed the fundamental situation of Aave today from multiple dimensions, which may help investors clarify the logic behind AAVE's current rise and expectations for future trends.
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