- The release date of Uniswap V4 is confirmed; the five major ETH pledgers released a statement (September 4)
Headlines
US August seasonally adjusted non-farm payrolls increased by 187,000, expected 170,000
US August seasonally adjusted non-farm payrolls increased by 187,000, expected 170,000. Unemployment rate reached 3.8%, expected 3.5%.
US Labor Statistics Bureau: Non-farm payrolls for June revised down from 185,000 to 80,000; non-farm payrolls for July revised down from 187,000 to 157,000. After the revision, the total addition of employment in June and July was 110,000 lower than the previous revision. (Jinshi)
Former SEC Chair: Approval of spot Bitcoin ETF is inevitable
Former SEC Chair Jay Clayton said in an interview with CNBC that the approval of a spot Bitcoin ETF is inevitable.
Industry News
CZ: DeFi market size may surpass CeFi in the next bull market
CZ stated during the AMA event on September 1st that he believes the more decentralized the DeFi industry becomes, the better. He also predicts that DeFi trading volume may soon surpass CeFi trading volume.
Nikolaos Panigirtzoglou and other analysts at JPMorgan have released a research report showing that Grayscale's recent legal victory suggests that the U.S. SEC may be forced to approve the spot Bitcoin ETF applications of Grayscale and other asset management companies.
Analysts believe that the SEC needs to withdraw its previous approval of futures-based Bitcoin ETFs to demonstrate the reasonableness of its "rejection of Grayscale's proposal to convert its Bitcoin Trust into an ETF." However, analysts added that this would be highly embarrassing and disruptive for the SEC and seems unlikely to happen. Therefore, analysts believe that the SEC is more likely to be forced to approve multiple spot Bitcoin ETF applications.
Real estate influencer: Li Yanhong sold Gulfstream private jets, now owned by Justin Sun
The real estate influencer revealed that Li Yanhong sold two Gulfstream jets in October 2021 and repaid two US dollar debts just before the grace period countdown ended. What was put on the shelf afterwards was an ACJ 330. What he may not know is that the plane is now owned by Justin Sun.
Project News
Uniswap V4 to be launched after Dencun upgrade
Uniswap Labs announced on the X platform that Uniswap V4 will be launched after the Dencun upgrade.
It is reported that Uniswap V4 will be different from previous versions V1-V3 and will no longer be a technical innovation from 0 to 1, but a complete subversion based on the infrastructure of DeFi. For example, V4 will provide token pools that can be independently created and managed, AMMs that can add new features through "hooks," and will adopt a large contract framework to replace the previous Factory/Pool model, and so on.
Ripple requests court to dismiss SEC's appeal
According to a document disclosed by Fox Business reporter Eleanor Terrett, Ripple has requested the court to dismiss the SEC's appeal and hopes the court will reject the SEC's request to stay the judgment during the appeal period.
Ripple's representative lawyer stated, "There are no special circumstances required for an intermediate appeal." The SEC must respond to the filing submitted today by September 8.
At least five ETH staking service providers have implemented or are working to implement self-restriction rules, committing to not owning more than 22% of the Ethereum staking market share—a measure seen as ensuring the decentralization of the Ethereum network.
Superphiz, an Ethereum core developer, stated that ETH staking service providers that have committed or are committed to complying with self-restriction rules include Rocket Pool, StakeWise, Stader Labs, and Diva Stake.
Puffer Finance has also committed to complying with self-restriction rules.
However, the largest ETH staking service provider, Lido Finance, voted by a majority of 99.81% in June not to implement self-restriction. According to data from Dune, Lido has exceeded the 22% limit in terms of staking amount and market share.
UK cryptocurrency travel rules take effect, potentially halting certain cryptocurrency transfers
Cryptocurrency businesses in the UK are now able to start detaining certain cryptocurrency transfers to comply with the new cryptocurrency travel rules that came into effect on September 1.
The UK Financial Conduct Authority first introduced rules for virtual asset service providers on August 17, ensuring that UK-based VASPs "collect, verify, and share information relating to the transfer of crypto assets." If an inbound payment is received from an overseas jurisdiction that has not implemented travel rules, the VASP must conduct a risk assessment on whether to provide crypto assets to the beneficiary.
Creditors accuse Genesis of buying votes in proposed $175 million settlement agreement with FTX
Gemini and other creditors have criticized Genesis Global Capital (GGC) for buying votes to "manipulate" the bankruptcy process in the proposed $175 million settlement agreement with FTX. It is reported that the bankruptcy plan must be voted on by creditors according to their proportion of debt.
Cryptocurrency exchange Gemini stated in a filing submitted on Thursday that the proposed settlement plan by Genesis and FTX is actually an attempt to manipulate the voting process of their plan.
A group of creditors calling themselves the "Fair Deal Group" stated in a filing on Thursday: "Genesis seeks to obtain support from FTX debtors and their votes by supporting the proposed settlement agreement."
Uniswap launches bug bounty program with rewards up to $2.25 million
Uniswap has launched a bug bounty program with rewards of up to $2.25 million, including Router contract, Permit 2 contract, V3 contract, and UniswapX contract. Uniswap defines the most critical issues as those "affecting a large number of users and having serious impact on reputation, legality, or finance," and the least severe issues as those "not causing direct risk but related to best security practices."
CyberConnect: Introducing safeguards to prevent similar incidents from happening again
CyberConnect releases a statement regarding CYBER Bridge and CP-1. CyberConnect stated that the first proposal of Cyber DAO provided by the community users contains an error, and the official takes full responsibility for this mistake. It assures the community that the rumors about CYBER token manipulation and market manipulation are baseless, and these rumors were caused by incorrect circulating supply data of the token.
CyberConnect states that the official has proposed the CP-1 proposal to optimize the liquidity of CYBER token on three networks (ETH, OP, and BNB) by introducing a bridge. However, there was an error in the current unlocked amount of CYBER in the community treasury, which ultimately renders the proposal invalid. The bridge can ensure a healthy balance of CYBER token on these three networks without unlocking new CYBER or altering the token's current supply.
Gala Games revealed that two founders have filed lawsuits against each other
According to the documents disclosed by Jake Browatzke, the founder of Magic Book, on X platform, it shows that Eric Schiermeyer, the founder and CEO of Gala Games, and co-founder Write Thurston have filed lawsuits against each other.
The document states that Eric Schiermeyer accuses Write Thurston and the holding investment tool True North of stealing 8,645,014,077 GALA tokens from Gala Games and allegedly transferring and selling stolen GALA tokens worth around 130 million US dollars. Furthermore, Eric Schiermeyer also claims that Write Thurston stole licenses to operate "nodes" in the Gala ecosystem and sold them to others for profit, manipulating nodes to earn GALA tokens.
Investment and Financing
Web 3 Social Protocol Tako Protocol completes $2 million Pre-Seed funding round. This round of funding was participated by UOB Venture, DWF Labs' DWF Ventures, Mask Network, Signum Capital, AC Capital, SmrtiLab, HashBrown Research, RSS 3, and some angel investors.
Satoshi Network completes $2 million angel funding round
Satoshi Network announces the completion of a $2 million angel funding round. This funding will primarily support the early redemption plan of Satoshi Network's bond sUSD.
Satoshi Network, launched and governed by BitDAO and several foundations, is dedicated to building a globally distributed commercial consumption value system based on the smallest unit of Bitcoin called "satoshi".
On-chain derivative protocol ProsperEx completes a new strategic financing round with participation from EMURGO Ventures, a venture capital firm under Emurgo, the developer of Cardano (ADA). The specific amount has not been disclosed.
ProsperEx is an innovative on-chain derivative protocol that supports spot trading, on-chain perpetual contracts, and on-chain options, among other major derivative instruments. In addition, the protocol will further explore and layout in the field of RWA (Real World Asset Tokenization) to promote a deeper integration of the Web 2 and Web 3 worlds.
Bitget hosted the "Mining the Web 3 Future with AI" fifth anniversary gala in Taiwan. On that evening, Bitget announced the launch of a 100 million Taiwanese dollars Web 3 Fund to support the construction and innovation of Taiwan's blockchain ecosystem. This fund will be used for cryptocurrency education, hackathon events, promoting the growth of the cryptocurrency community, and innovative research and development.
According to data from The Block Research, the investment amount of cryptocurrency venture capital in August was less than 500 million US dollars, marking a continuous decline for four months and the lowest monthly investment since January 2021.
A previous report showed that the total venture capital amount for the first quarter of this year was 76 billion US dollars, lower than the 162 billion US dollars in the same period in 2022. (The Block)
