headlines
E-commerce platform Shopify integrates Solana Pay to support USDC payment method
Solana Pay, the decentralized payments protocol developed by Solana Labs, has integrated its plugin with e-commerce platform Shopify to offer USDC payments to the millions of businesses on its platform. It is reported that Shopify has previously integrated with other payment applications such as Coinbase Commerce, Strike, Crypto.com and BitPay. (Techcrunch)
cryptocurrency
DefiLlama data shows that the DeFi TVL of the entire network is currently approximately US$38.18 billion, which is close to the low since February 2021, which was US$37.911 billion on January 1, 2023.
Bitstamp will stop offering ETH staking services for US users
Bitstamp will stop providing ETH staking services for US users on September 25. Bitstamp US CEO Bobby Zagotta said that users will continue to receive staking rewards until September 25, 2023, after which all pledged assets will be unpledged and refunded to the users account. (Cointelegraph)
FTX Seeks to Sell, Pledge and Hedge Over $3B Worth of Its Crypto Holdings, Hires Galaxy as Advisor
FTX wants to begin selling, staking and hedging its more than $3 billion worth of crypto asset holdings, and has hired Galaxy Asset Management as an adviser to help, according to court documents filed late Wednesday. FTX seeks to return funds to creditors in fiat currency rather than BTC or ETH, but believes prudent trading can avoid losses on its crypto assets where possible. Additionally, FTX is concerned that selling all its positions at once would cause the price to plummet and is currently seeking advice from market experts to avoid this, such as weekly selling limits. It is worth mentioning that Galaxy Digital, a subsidiary of Galaxy Asset Management, has previously stated that it held tens of millions of dollars in assets on the FTX platform when it went bankrupt. The new filing details conflict of interest procedures to ensure Galaxy acts in the best interest of FTX. (CoinDesk)
Project News
MakerDAO Adds $50M in RWA Assets with BlockTower Andromeda
According to makerburn data, MakerDAO added $50 million in RWA assets through BlockTower Andromeda today, mainly investing in short-term U.S. Treasury bonds. Currently, the total RWA assets in MakerDAO are approximately US$2.537 billion, including US$1.139 billion in Monetalis Clydesdale and US$652 million in BlockTower Andromeda.
Astar Network will launch Astar 2.0 on September 13th
Astar Network released a video preview on Twitter, and will launch Astar 2.0 on September 13. Previously, Astar Network announced Astar Token Economics 2.0, which includes: token destruction, graded incentives for builders, a significant reduction in inflation, and higher rewards for DApps that drive Astar’s growth.
Aave Community Launches ARFC Proposal to Increase GHO Lending Rate
Aave community member Marc Zeller initiated the ARFC proposal to increase the GHO lending rate. The proposal proposes to increase the annual lending rate of the algorithmic stablecoin GHO from the current 1.5% to 2.5%, aiming to solve the problem of decoupling between GHO and the US dollar stablecoin. , ensuring its growth and credibility in the market.
Investment and Financing
Web3 user interaction platform Raleon announced the completion of US$3.8 million in financing, with participation from Blockchange, Play Ventures, Alliance DAO and Portal Ventures. The funds will be used to help project and brand development. It is reported that Raleon’s SaaS platform was founded by Nathan Snell and Adam Larson in 2022. Raleon uses growth analysis, automated marketing, embedded tasks, and off-chain and on-chain data to help Web3 projects with user retention and conversion. (Cryptonews)
Metaverse game developer Irreverent Labs completes new funding round led by Samsung Next
Metaverse game developer Irreverent Labs has completed a new round of financing, led by Samsung Next, with an undisclosed amount. It is reported that the reason Irreverent Labs chose to strengthen its cooperation with Samsung is that Irreverent hopes to have greater access to potential customers in the Samsung Next portfolio. (TechCrunch) According to previous news, Irreverent Labs completed US$40 million in financing in May 2022, with a total of 11 investors participating in this equity and option financing.
global policy
The U.S. Securities and Exchange Commission (SEC) announced it is considering final changes to the rules related to broker-dealer registration with national securities associations, with the goal of determining which broker-dealers are required to register with national securities associations, such as the Financial Industry Regulatory Authority (FINRA). This SEC revision involves Rule 15 b 9-1, which was expanded in 1976. The rule was originally developed in the 1960s to allow a limited number of exchange members to not be members of the National Association of Securities Dealers (NASD, the predecessor to FINRA). But with the rapid changes in the market, especially the rise of high-frequency trading, many brokers conduct a lot of activity across exchanges or off-exchange. However, some brokers still rely on outdated state securities association registration exemptions, which creates a regulatory gap. As a result, these revisions update and narrow the circumstances under which broker-dealers are not required to register with a national securities association. Membership of national securities associations will help to enhance sound and consistent regulation, particularly of cross-market and over-the-counter transactions. For example, firms joining FINRA will increase transparency and strengthen oversight of the Treasury market, as FINRA requires its members to report post-trade activities in these markets. The SEC said this will benefit investors and a fair, orderly and efficient market.
Tornado Cash Partner Roman Semenov Added to OFAC Sanctions List
Tornado Cash co-founder Roman Semenov was placed on the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctions list on Wednesday. OFAC lists Roman Semenov’s email address and eight Ethereum wallet addresses on the Specially Designated Nationals and Blocked Persons List (SDN). Previously, the U.S. Department of Justice charged Tornado Cash founders Roman Storm and Roman Semenov with violating money laundering and sanctions regulations and conspiring to operate an unlicensed money transfer business. The indictment says the pair operated Tornado Cash, which facilitated more than $1 billion in money laundering transactions and laundered hundreds of millions of dollars for the Lazarus Group, a sanctioned North Korean cybercriminal organization. Roman Storm has been arrested in Washington state and is scheduled to appear in U.S. District Court for the Western District of Washington on August 23. Roman Semenov remains at large.
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Foreign media: Binance Italy accumulated 385 million euros in cryptocurrency in a few months
Binance Italy accumulated €385 million worth of cryptocurrencies in a matter of months. Since its launch in September 2022, Binance Italy has seen transaction volume of approximately €2.4 billion, revenue exceeding €3 million, and marketing spend of €2.9 million. (MilanoFinanza News) It is reported that on May 27, 2022, Binance announced that Binance Italy has registered as a cryptocurrency service provider with the Organismo Agenti e Mediatori (OAM) and has obtained regulatory approval and complies with Italian crypto asset legal requirements .
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