Headlines
BTC briefly breaks through 81,000 USDT, setting a new historical high
Odaily Planet Daily reports that OKX market data shows BTC briefly broke through 81,000 USDT, reaching a high of 81,568 USDT, continuing to set historical highs.
MicroStrategy's Bitcoin holdings are up over $10 billion
Odaily Planet Daily reports that as Bitcoin's price surpassed $79,000, MicroStrategy's Bitcoin holdings are now up over $10 billion.
As of September 19, 2024, MicroStrategy holds a total of 252,220 Bitcoins, with a total purchase cost of approximately $9.9 billion, averaging about $39,266 per Bitcoin.
MicroStrategy founder Michael Saylor hinted on X that he may continue to increase his BTC holdings, stating, “I think the saylortracker website needs more ‘green dots’.”
Note: This website tracks MicroStrategy's Bitcoin purchase records, with green dots indicating BTC purchases.
U.S. SEC delays decision on whether to approve Ethereum spot ETF options
Odaily Planet Daily reports that according to official news, the U.S. SEC has delayed its decision on whether to approve Ethereum spot ETF options to conduct further analysis and gather public opinion, particularly regarding whether the proposed rule changes comply with the Securities Exchange Act. The SEC emphasized concerns about the potential impact of the proposal on preventing market manipulation, protecting investors, and ensuring a fair trading system.
Odaily Planet Daily reports that according to information from platform traders, Polymarket claims that “future platform trading volume is expected to decline, while users who reinvest bonuses into other betting activities may qualify for higher rewards in the future.”
Data from The Block shows that Polymarket had 235,300 active users in October. Additionally, media inquiries confirmed that Polymarket CEO Shayne Coplan stated that Polymarket is not open to U.S. users.
Previously, The Information reported that Polymarket is considering raising $50 million and launching its own token.
Industry News
American Securities Association calls for current SEC Chairman Gary Gensler to resign immediately
Odaily Planet Daily reports that the American Securities Association (ASA) has issued a statement calling for SEC Chairman Gary Gensler to resign immediately. ASA President and CEO Chris Iacovella stated, “Voters have decided that this country needs a new direction, and Chairman Gensler should respect this vote and resign immediately. This is the only way for American working families, retirement savers, and small businesses to rebuild trust and confidence in the SEC.” (American Securities)
Odaily Planet Daily reports that Cardano founder Charles Hoskinson has confirmed plans to collaborate with the Trump-led U.S. government to help formulate cryptocurrency legislation. The goal is to create a clear regulatory framework for the cryptocurrency industry, which has faced uncertainty and regulatory challenges for years.
Hoskinson announced these plans in a recent speech, stating that developing positive policies regarding cryptocurrency requires support from both Democrats and Republicans. He mentioned that his company, Input Output Global (IOG), will establish a separate policy department for cryptocurrency regulation. This office will focus on creating a legislative framework that incorporates provisions from the Financial Innovation and Technology Act of the 21st Century (FIT21) and the Responsible Financial Innovation Act (RFIA). He added, “I will work with lawmakers and the government to push for a bipartisan bill to be passed.” (CoinGape)
FTX sues SkyBridge Capital and its founder to recover investment funds for creditors
Odaily Planet Daily reports that FTX has filed a lawsuit against Anthony Scaramucci and his hedge fund SkyBridge Capital in an attempt to recover funds for creditors. This lawsuit is one of 23 filed in Delaware bankruptcy court on Friday. Court documents show that the plaintiffs also include digital asset exchange Crypto.com and political groups founded by Mark Zuckerberg, such as FWD.US.
FTX claims that during the 2022 crypto bear market, founder SBF was “engaged in influence-buying activities throughout the year and made extravagant and ostentatious ‘investments’.”
According to the documents, one relationship in which SBF invested significant time and money was with Scaramucci, as he built a “financial, political, and social” network.
FTX is now seeking to recover these investments, claiming they “provided almost no benefit” and instead “only supported SBF's position in politics and traditional finance.”
The company stated that SBF invested $67 million in various SkyBridge businesses in 2022, as Scaramucci was “seeking rescue.” According to the documents, assets managed by SkyBridge have fallen from a peak of $9 billion in 2015 to $2.2 billion.
A representative for Scaramucci declined to comment.
In September 2022, SBF and Scaramucci announced that FTX's venture capital division would acquire a 30% stake in SkyBridge. Financial terms were not disclosed at that time. Scaramucci stated that this investment reflected his “consideration for SkyBridge's next decade.” (Bloomberg)
Top trader Eugene: Binance is gradually lifting leverage trading position limits
Odaily Planet Daily reports that top trader Eugene stated that Binance has recently increased the maximum position limits for contracts of several cryptocurrencies (Neiro, Moodeng, GOAT, TIA, etc.), indicating that Binance is opening the floodgates for leverage. During normal times, the risk exposure for holders of newly listed tokens/smaller tokens will be $3 million at 1x leverage, with a maximum of $5 million. The latest announcement shows that the maximum exposure limits for Neiro, Moodeng, and GOAT are $80 million, $20 million, and $20 million, respectively.
Odaily Planet Daily reports that a user who “mistakenly sent 7,912 ezETH to a contract address” in June has posted a reward announcement on X, promising to offer a 10% reward to anyone who helps successfully recover the funds, which is approximately $2.5 million at current prices.
Analysis indicates that the involved CoboSafeAccount, confirmed by Shenyu, is a logical contract that stores risk control logic, which cannot be upgraded or transferred, and can only retrieve assets through the Renzo project party, suggesting that this solution may not be feasible.
Project News
NEAR AI: Alpha version product has been launched
Odaily Planet Daily reports that NEAR AI announced on the X platform that it has launched the Alpha version, which includes a customized AI smart assistant that interacts with other AI agents and services across Web2 and Web3. Meanwhile, the NEAR AI research center will support community-built AI research and foundational model creation, aiming to build a model with 1.4 trillion parameters.
dYdX is about to launch dYdX Unlimited
Odaily Planet Daily reports that according to official news, dYdX will launch dYdX Unlimited this month, which includes the launch of a permissionless market, MegaVault (which obtains liquidity from dYdX users and acts as a market maker for all dYdX Chain markets), and an Affiliates Program. This is one of the most significant upgrades in dYdX's history.
It also stated that a series of other enhancements are expected to be launched in the coming months, including new integrations with popular wallets and third-party services, permission keys, instant deposits, and more innovative features.
Immutable launches pre-approved trading feature for seamless in-game blockchain transactions
Odaily Planet Daily reports that Immutable has announced the launch of the Pre-Approved Transactions feature for Passport, allowing games to seamlessly handle blockchain transactions within their environment.
Currently, pre-approved transactions only work with assets issued by games, ensuring a controlled and secure environment. Future roadmaps include expanding these features to support IMX, USDC, and ETH, always prioritizing player safety and asset security.
Farcaster to launch App Frames feature to optimize social app development and distribution
Odaily Planet Daily reports that the decentralized social protocol Farcaster will launch the App Frames feature, aimed at enabling developers to develop and distribute social applications in the best way: distributing applications in the feed and hook (i.e., cast operations, exploration) of any Farcaster client; using identity to provide social context and allow authenticated operations; prompting users to perform Farcaster actions, such as sending casts or joining channels; and interacting with users' Ethereum wallets using familiar tools (like wagmi).
Insiders: OpenSea V2 may launch a loyalty program and retroactive rewards
Odaily Planet Daily reports that NFT trader john.weth shared information about the beta version of OpenSea V2 on his social platform. Relevant screenshots show that OpenSea V2 will update the UI and launch a loyalty program, allowing users to earn XP rewards. Additionally, the new version will provide retroactive rewards for long-time OpenSea users, although the "methods and extent of the rewards are yet to be determined."
pump.fun accumulates over $170 million in revenue, with over 3.1 million tokens deployed
Odaily Planet Daily reports that Dune data shows pump.fun has accumulated over $170 million in revenue ($177,958,960) and has deployed over 3.1 million tokens.
STEPN's advisor unlock shares for this month have been transferred to GMT Foundation address
Odaily Planet Daily reports that according to the latest on-chain data monitoring, last night, the advisor unlock shares for GMT this month were transferred to an address suspected to belong to the GMT Foundation. This move may be related to the GMT team's future strategic adjustments and ecological incentive plans, but the specific motives are currently unclear.
Insiders revealed that the GMT team has repurchased all unlocked tokens from investors and advisors, involving a total of up to 600 million GMT.
Regulatory Trends
Biden and Trump to meet at the White House on the 13th
Odaily Planet Daily reports that the White House stated on the 9th that, at the invitation of President Biden, Trump, who won the 2024 presidential election, will meet with Biden at the White House on the 13th at 11 AM Eastern Time (midnight Beijing time next Thursday). No further details have been disclosed. (Jinshi)
Odaily Planet Daily reports that insiders revealed that Kramer Levin Naftalis & Frankel law firm partner Richard Farley and K&L Gates law firm partner Norm Champ are among the candidates to succeed Gary Gensler as Chairman of the U.S. Securities and Exchange Commission. Other insiders indicated that Robinhood Markets Inc. legal chief Dan Gallagher, current SEC Commissioner Mark Uyeda, and former Commodity Futures Trading Commission Chairman Heath Tarbert are also under consideration. Insiders stated that former SEC Commissioners Paul Atkins and Willkie Farr & Gallagher partner Robert Stebbins are also in the running.
Some insiders noted that members of President-elect Donald Trump's transition team and other advisors began discussions with potential candidates after the election. Discussions are ongoing, and candidates may not be determined for several weeks. Regardless of Trump's choice, the next SEC Chairman is likely to closely review major rules from the Gensler era that are pending implementation or have not yet taken effect, seeking to reduce regulation on the digital asset industry to comply with securities laws. (Bloomberg)
Odaily Planet Daily reports that recently, South Korea's central bank signed a usability testing agreement for CBDC and tokenized deposits with the Ministry of Science and Information and Communication Technology (MSIT) and the Financial Services Commission (FSC).
According to reports from September, the Bank of Korea is preparing to conduct a tokenized deposit experiment involving about 100,000 people, having announced the formal plan for such experiments a year ago, in conjunction with wholesale central bank digital currency (wCBDC) for interbank settlements.
In June, MSIT and the Korea Internet and Security Agency (KISA) provided a budget to the Bank of Korea for developing a voucher program using smartphones, which can be used to purchase welfare, culture, education, and other goods and services. Therefore, the Bank of Korea developed a digital voucher management platform aimed at addressing the settlement complexities and potential fraud associated with paper vouchers. The vouchers will use Singapore's dedicated funds (PBM) model, which essentially encapsulates deposit tokens in smart contracts and defines the conditions for token usage.
The FSC has approved seven local banks to participate as innovative financial service providers, although the compliance of these banks will be continuously reviewed. These banks include Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, Industrial Bank of Korea, Nonghyup Bank, and Busan Bank. Notably, deposit tokens will be protected by traditional deposit protection systems. So far, the Bank of Korea has not disclosed details regarding user recruitment and vouchers. (Ledger Insights)
Norway supports MiCA and considers CBDC for financial stability
Odaily Planet Daily reports that Norway's central bank, Norges Bank, has recognized the EU's Markets in Crypto-Assets Regulation (MiCA), and the country is assessing the possibility of adopting a central bank digital currency (CBDC).
Kjetil Watne, project director of the Norges Bank CBDC project, stated that as a member of the European Economic Area (EEA), Norway welcomes the MiCA framework. However, he noted that the bank is still considering "whether additional regulation is needed to promote financial stability." Norges Bank "has not yet decided" whether to issue a CBDC and is evaluating how to "mitigate regulatory gaps associated with decentralized finance." (Cointelegraph)
Investment and Financing
Odaily Planet Daily reports that former ParaFi Capital partner Santiago Roel Santos has announced the launch of a new private equity fund, Inversion Capital, which will "acquire traditional businesses that can benefit from transforming their business models through the adoption of crypto mechanisms."
Santos believes that the crypto transformation of traditional businesses can help them operate better, faster, and cheaper. Some businesses can benefit from adopting crypto tools to address "issues manifested as higher operating costs, capital expenditures, or declining unit economics." He explained that it does not matter whether business owners are reluctant to accept cryptocurrencies, as Inversion Capital will not become an investment partner but will directly acquire these businesses.
Santos did not specify how much capital he plans to raise through the fund or whether initial targets have been selected. (The Block)
Layer1 blockchain developer Pharos completes $8 million seed round financing
Odaily Planet Daily reports that Layer1 blockchain developer Pharos has completed an $8 million seed round financing, led by Lightspeed Faction and Hack VC, with SNZ Capital participating as a strategic investor. Other investors include Dispersion Capital, Hash Global, Generative Ventures, MH Ventures, Zion, and Chorus One.
Odaily Planet Daily reports that RWA stablecoin protocol Usual has announced the completion of a new round of financing totaling $1.5 million, with participation from Comfy Capital, early crypto project investor echo, and Breed VC founder Jed Breed, although specific valuation data has not been disclosed.
Usual stated that the project plans to launch a token generation event (TGE) to support the construction of a USD0 stablecoin backed by real-world assets. The protocol previously raised $7 million in strategic round financing in April this year, with investors including IOSG Ventures and Kraken Ventures, bringing the total financing amount to $8.5 million to date.
Web3 shopping app Bion completes a new round of strategic financing, with TON Ventures participating
Odaily Planet Daily reports that the Web3 shopping application Bion has announced the completion of a new round of strategic financing, with participation from TON Ventures. The specific financing amount and valuation data have not been disclosed. Bion primarily utilizes blockchain technology to enhance the shopping experience and provide value-added services to consumers. The new funds will be used to expand its Web3 shopping platform that offers cashback rewards and to enhance its crypto rewards.
People * Voices
CZ: As Bitcoin continues to hit historical highs, investors should manage risks appropriately
Odaily Planet Daily reports that CZ posted on the X platform, stating that as Bitcoin continues to hit historical highs, investors also need to manage risks appropriately. There will be many lows (and highs) in the future, and one should ensure they can handle them, control their greed, and not put all their eggs in one basket.
Vitalik discusses prediction markets: Information finance brings us closer to the truth
Odaily Planet Daily reports that Vitalik published a new article titled "From Prediction Markets to Information Finance," stating that he has been a close supporter and follower of Polymarket this year, considering prediction markets one of the most exciting Ethereum applications.
Vitalik believes that Polymarket has a dual nature; on one hand, it is a betting site for participants, and on the other, it serves as a news site for everyone else. As the election results gradually unfold, despite many experts and news sources trying to entice audiences with favorable news for Harris, Polymarket directly reveals the truth, showing that Trump's probability of winning has reached 95%. Users' real money investments allow the market to recognize what the truth is closer to.
Additionally, prediction markets can use finance as a way to coordinate incentives to provide valuable information to the audience. Information finance addresses the trust issues that actually exist among people. A common concern in this era is the lack of knowledge and uncertainty about whom to trust in political, scientific, and business environments. Information finance applications can help be part of the solution. He predicts that a technology that will drive the development of information finance in the next decade is artificial intelligence.
Odaily Planet Daily reports that Ari Paul, founder and CIO of digital asset investment firm BlockTower, stated on the X platform that we are currently in the early stage of the later part of the overall bull market (approximately 70% or 66% progress). Recent buyers are preparing for a 6-12 month rise, with more being "institutions" rather than retail speculation.
He personally expects the market to produce a relatively "gradual" rebound at this stage, potentially seeing BTC at $90,000 or even $125,000. Retail participation will gradually increase, bringing with it rising leverage and volatility. Currently, buying the right assets and holding them for the next few months may be the wisest strategy. In the later stages of a bull market, more aggressive trading will yield returns.
Odaily Planet Daily reports that Nick Tomaino, founder of cryptocurrency investment firm 1confirmation, stated on the X platform that "the largest investment to date is Polymarket. We invested in the early stages of this project in 2020 and have supported the company to this day. Currently, Polymarket's trading volume has exceeded $2.6 billion and has become the best real-time prediction tool for the U.S. presidential election. You can watch founder and CEO Shayne Coplan discuss how Polymarket has consistently released election news ahead of other media on CNBC. Some analysts suggest that trading volume will decline after the election, but I believe that prediction markets will grow 100 times in the coming years, with Polymarket leading this trend. Geopolitical, cultural, health, and sports markets will play significant roles in prediction markets, and the growth of the political market will continue."
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