| SEC postpones approval of at least 3 bitcoin spot ETFs; Musk denies that X platform will issue tokens (September 1)

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Azuma
1 years ago
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The founder of Coinbase shared his top ten favorite tracks, including reputation on the chain, chain games, RWA, etc.

| SEC postpones approval of at least 3 bitcoin spot ETFs; Musk denies that X platform will issue tokens (September 1)

headlines

SEC Has Delayed At Least 3 Bitcoin Spot ETF Application Results

Odaily News The SEC will postpone the application and approval of 3 bitcoin spot ETFs. The SEC believes that more time is needed to decide on the Bitcoin spot ETF proposed by WisdomTree, Valkyrie, and Invesco, and the decision on the outcome of the application has been postponed to mid-October.
The Commission believes that it is appropriate to give a longer period of time for approval, which will allow us sufficient time to consider the proposed rule and address the issues therein. In addition, the SEC did not indicate a specific reason for delaying the approval. (Blockworks)

Elon Musk Denies Platform X Will Issue X Tokens For Creators

Odaily News In response to user X News Dailys statement that X platform may issue X tokens for creators, Musk issued a negative reply No.

The founder of Coinbase announced ten promising crypto tracks, including reputation on the chain, chain games, RWA, etc.

Odaily news Coinbase founder Brian Armstrong issued a post announcing the ten crypto tracks he is optimistic about, namely:
1. Flatcoin (a better form of money created through cryptocurrencies that is censorship resistant and tracks consumer prices to maintain purchasing power or close to it);
2. On-chain reputation;
3. On-chain advertising;
4. On-chain capital deployment;
5. Labor market for the crypto field;
6. Layer 2 privacy;
7. P2P exchange place on the chain;
8. Blockchain games;
9. Tokenization of Real World Assets (RWA);
10. Software that starts and manages network status.

Grayscale CEO: Not sure whether to resubmit spot Bitcoin ETF application to SEC

Odaily News After Grayscale won the lawsuit against the SEC, Grayscale CEO Michael Sonnenshein is not yet sure whether the company needs to resubmit a spot Bitcoin ETF application to the SEC.
Michael Sonnenshein said in an interview: We need to pay attention to the final order that the court will issue to clarify the final operating procedures. We will not know the content of the final opinion until the relevant period (45 days after the ruling) is over.
Sonnenshein also said that the SEC should no longer have reason to block the launch of spot bitcoin ETF products.
In addition, Bloomberg Intelligence analyst James Seyffart said that it is unlikely that GBTCs negative premium rate will become zero before it is officially converted to a spot bitcoin ETF. The narrowing of the negative premium rate shows that the market is more confident in the conversion of GBTC to ETF today than a few days ago, but still not fully convinced that GBTC can complete the conversion. Given the hostility shown by Gensler and the SEC to cryptocurrencies The view is not unreasonable.” (Bloomberg)

Industry news

People familiar with the matter: Binance Asia Pacific head Leon Foong has resigned

According to people familiar with the matter, Leon Foong, head of Binance Asia Pacific, has resigned and is about to leave Binance. It is reported that Leon Foong is responsible for the expansion of Binance to markets such as South Korea, Thailand and Japan.
A spokesperson for Binance declined to comment, and Foong did not immediately respond to a request for comment. (Bloomberg)

Binance reminds users to convert BUSD to other assets before February next year, and can switch to FDUSD with zero fees

According to an official announcement from Odaily, Binance will gradually stop supporting BUSD due to Paxos stopping issuing new BUSD tokens. Binance will gradually notify users of the affected services in the form of announcements. The users assets are safe, and BUSD will always be anchored by the US dollar at a ratio of 1:1.
The Binance platform will continue to support multiple stablecoins and other digital assets. The platform reminds users that they can convert their BUSD assets into other assets supported by the Binance platform before February 2024. Users can trade their BUSD assets into FDUSD with zero handling fees on the Binance spot market, or exchange their BUSD assets into FDUSD at a ratio of 1:1 with no spread and zero handling fees on the flash exchange platform.
Binance will delist BUSD spot and leveraged trading pairs one after another. The specific delisting information will be announced separately. Starting from 14:00 on September 7, 2023 (East 8th District Time), Binance will stop supporting BUSD borrowing on cross-margin and isolated-margin platforms. From 14:00 on October 19, 2023 (Eastern Eighth District time), users of cross-margin and unified accounts will no longer be able to transfer additional BUSD as margin to the cross-margin wallet, and users can still transfer other tokens coins as security deposit.
Binance will stop supporting the withdrawal of Binance-Peg BUSD tokens through BNB Chain, Avalanche, Polygon, and Tron Network at 08:00 on September 7, 2023 (Eastern Eighth District Time). Binance will continue to support BUSD (ERC-20) deposits and withdrawals via Ethereum until further notice. Binance will continue to support Binance-Peg BUSD deposits via BNB Chain, Avalanche, Polygon, and TRON networks until further notice.

Binance Labs Announces ColLabs, a Web3 Investment Community

Odaily News Binance Labs announced the launch of ColLabs, a Web3 investment community on the X platform. ColLabs is an invitation-only Web3 investment community for founders, builders and investors. The benefits include exclusive content and activities, mining of trading opportunities, internal Insight sharing, resource acquisition and project co-construction, etc.

HashKey Capital launches its first secondary crypto asset fund

Odaily News HashKey Capital has launched its first secondary encrypted asset fund, which will be operated by the investment arm of Hashkey Group, mainly for high-net-worth individuals and wealthy families in Asia. Its investment manager Jupiter Zheng said that no more than 50% of the funds will be invested in BTC and ETH, and a certain amount of “altcoins” will be allocated. (Reuters)

HashKey Exchange will launch Hong Kong dollar trading pairs in the next few weeks

According to the official announcement from Odaily, the HashKey Exchange platform currently supports the recharge and withdrawal of the Hong Kong dollar legal currency HKD, and users can use it for KYC deposit verification.
HashKey Exchange stated that the platform does not currently support the trading of Hong Kong dollar HKD trading pairs, and will launch Hong Kong dollar HKD trading pairs in the next few weeks.

Fidelity: Ethereum unlocks a new level of programmability, but there are future upgrades, supply-related uncertainties

Odaily News Fidelity Digital Assets subsidiary released an Ethereum investment paper. The researchers who compiled the report said that investors could view Ethereum as an aspirational form of money, but could face far more challenges than Bitcoin to become a widely accepted form of money. resistance.
Uncertainty about ethereums future upgrades and the number of tokens in circulation creates a series of hurdles before ethereums supply can reliably align with the supply of other store-of-value assets, the report said.
It seems unlikely that any other digital asset will be better than Bitcoin, which is seen by some as the safest, most decentralized, and soundest digital currency to date, and any improvement will require trade-offs, the report states. .”
However, Fidelity believes that Ethereum’s use of smart contracts unlocks a whole new level of programmability, which is Ethereum’s “true differentiator.” In addition, Ethereum can also generate income through staking.
Fidelity’s final conclusion is that increased activity on Ethereum does in fact drive block space demand, which in turn benefits token holders; at the same time, there are still “complex, subtle” factors, including protocol and expansion upgrades, making the future of Ethereum uncertain for investors. (Blockworks)

Woori Bank, Samsung Securities, and SK Securities Jointly Enter Security Token Market

Odaily News Korea Woori Bank (Woori Bank) announced the signing of a business agreement with Samsung Securities (Samsung Securities) and SK Securities (SK Securities). The three companies agreed to jointly explore the security token (ST) business model, achieve system compliance, build infrastructure, jointly verify distributed ledgers, and form a cooperative consulting agency Finance 3.0 Partners. (Decenter)

Gitcoin official X (Twitter) suspected of being stolen, posting phishing information

Odaily news Gitcoin official X (Twitter) is suspected of being stolen, posting phishing information, Odaily reminds users not to click on the link.

Arkham: Robinhood is the fifth largest ETH wallet owner, holding $2.54 billion in ETH

Odaily News Arkham posted on X that it has identified Robinhood as the owner of the fifth largest ETH wallet, holding $2.54 billion worth of ETH. Its wallet address is: 0x40B38765696e3d5d8d9d834D8AaD4bB6e418E489.

Project News

The Cosmos community is voting on the v1 2 upgrade proposal, including updates such as the introduction of the liquidity staking module

The official governance page of Odaily News shows that the Cosmos community is voting on the v1 2 software upgrade proposal, and the voting ends on September 8.
According to reports, the Gaia v1 2 upgrade is a major release that includes the Liquid Staking Module and other core dependency updates. This version has been extensively tested, and operators can join the public test network to participate in testing before upgrading. Validator coordination can be used to create and execute contingency plans in case of problems.

Offchain Labs: Arbitrum Stylus code has been open-sourced and launched on the testnet

Odaily News Offchain Labs posted on the X platform that the Arbitrum Stylus code has been open-sourced and launched on the test network.
It is reported that Stylus allows developers to develop applications on Arbitrum using traditional EVM tools and WASM-compatible languages, such as Rust, C, and C++. By improving computation, storage, and memory efficiency, Stylus will significantly reduce gas costs. Using Stylus, developers are able to develop new use cases for EVMs that were previously considered impractical, such as alternative signature schemes, C++-based games, and computationally intensive AI models.

Circle to Launch Native USDC on Optimism Next Week

Odaily News According to official news, Circle announced that it will launch the native USDC on Optimism next week. Before that, the Ethereum bridge USDC will be renamed USDC.e for easy distinction.

StarkWare: Restored access to funds for users who did not update to Starknet 0.12.1

Odaily News StarkWare, the parent company of Starknet, posted on X that Starknet had an important version update last week, namely 0.12.1. A few months ago, in preparation for this update, Starknet users were asked to perform the necessary upgrades to their accounts.
When 0.12.1 went live, non-upgraded accounts were temporarily inaccessible, and access was restored for all of these accounts (including funds totaling $550,000).
Effective immediately upgrades have been re-enabled, allowing users to immediately regain access to their accounts. For technical reasons, Argent and Braavos users may not be able to regain access until tomorrow.

The Lido community launched a new proposal to introduce wstETH into the Cosmos ecosystem

Odaily News Axelar and Hadron Labs launched a new proposal to introduce wstETH into the Cosmos ecosystem. This bridge deployment is intended to allow for the eventual transfer of ownership of the bridge mechanism to the Lido DAOs Aragon smart contract, and to prevent possible challenges from an uncoordinated bridge with the Cosmos ecosystem.

Temperature Check Vote Passed for Proposal to “Deploy V2 on All Chains with Uniswap V3”

The Odaily news governance page shows that the temperature check vote for the proposal of deploying V2 on all chains with Uniswap V3 has been passed.
According to the proposal, Uniswap stated that the only officially deployed Uniswap V2 currently exists on the Ethereum mainnet. There is demand for V2-type AMMs on other chains, with many forked modified versions. These forked versions may not be safe, and the liquidity of the forks could have accumulated to Uniswap V2. In addition, V2 can provide better services for small exchange, so it is planned to deploy V2 on all chains with Uniswap V3.

The Yearn community has voted down the proposal related to the Wintermute YFI Loan and CRV Program

Odaily’s Snapshot page shows that the Yearn community has ended the voting on the proposal YIP-74 related to the “Wintermute YFI Loan and CRV Plan”, with a final opposition rate of 94.17%.

The Yearn community has voted for the Launch V3 proposal

Odaily News The Yearn community has voted to pass the proposal YIP-75 on Launching V3, with a final support rate of 83.47%.
The proposal proposes the rollout of a full V3 system, allowing anyone to deploy V3 vaults and policies permissionlessly.

Balancer: Mitigation procedures have been developed for the vulnerability but the affected pool cannot be suspended, and the exact loss amount cannot be disclosed for the time being.

Odaily News The DeFi liquidity protocol Balancer issued a document on X in response to the vulnerability risk, stating that mitigation procedures have been established to reduce the risk, but the affected pool cannot be suspended, and users are urged to immediately use the user interface (UI) to exit the affected LP. Due to the vigilance and swift action of Balancer LP, the vast majority of liquidity initially deemed at risk was withdrawn.
However, five days after the vulnerability was disclosed (August 27), malicious actors still managed to exploit the vulnerability in some of the affected pools within the Balancer and Beethoven X protocols. Balancer and the Beethoven X community are taking steps to thoroughly investigate the situation and are actively working with relevant partners, legal teams, and security experts to resolve the issue.
The safety of users remains the highest priority, and if the UI does not prompt to exit a liquidity pool or allow users to enter a liquidity pool, the pool is not at risk and is considered safe to use.
The team is still gathering information about some recent vulnerabilities, so exact numbers related to losses cannot be disclosed at this time. During this period, the team will remain vigilant and keep the community updated as the situation progresses.

Farcaster launched the V3 version and launched the OP Mainnet, and launched a commemorative NFT at the same time

Odaily News Dan Romero, the co-founder of Farcaster, posted on X that Farcaster has launched the V3 version and launched OP Mainnet.
In addition, Farcaster launched NFT on Zora to commemorate the launch of the V3 version, and users can mint on Base.

ParaSpace and Parallel Finance announce merger and rebranding to become Web3 superapp ParaX

According to official news from Odaily, ParaSpace and Parallel Finance will merge and carry out a brand upgrade. After the upgrade, ParaX will be positioned as a Web3 super application and is committed to becoming a multi-chain traffic portal.
ParaX adopts the account abstraction (AA) model based on ERC-4337, zkVM and a large language model of cross-domain intent, with a customizable UI interface, allowing users to easily participate in the Web3 ecosystem, one-stop with Uniswap, Blur, AAVE and other mainstream applications to accelerate the large-scale adoption of Web3.
After the brand upgrade, ParaSpace and Parallel will continue to develop as two representative applications on the ParaX platform.
For Parallel Finance users, there is no need to operate the original assets on Polkadot. For holders of Parallel tokens PARA and HKO, ParaX will be airdropped in the future.
For ParaSpace users, simple operations will be required to migrate assets to the ParaX platform, and previous loyal users will also receive future ParaX airdrops.

Investment and Financing

Lightning Network Liquidity Staking Project Stroom Network Closes $3.5M Seed Round Led by Greenfield

Odaily News Stroom Network, a liquidity staking project for the Bitcoin Lightning Network, completed a $3.5 million seed round of financing, led by Greenfield, with strategic support from Mission Street, the venture capital arm of Ankr, and participation from Lemniscap, No Limit Holdings, and Cogitent Ventures.
It is reported that Stroom Network adopts a liquidity staking mechanism to provide users with services to use Bitcoin on the Lightning Network and Ethereum networks. Stroom Network will use the funds from this round to expand the team and launch liquid collateralized tokens on the Ethereum mainnet. (Decrypt)

GPU.Net, a decentralized GPU resource network, has completed $500,000 in financing and plans to launch a testnet next month

Odaily News GPU.Net, a decentralized GPU resource network, has completed $500,000 in financing, with investors including Momentum 6 and Alphablockz.
Additionally, the company is backed by Nvidia and Taanga Studios, and plans to launch a GPU.Net testnet next month.
GPU.Net aims to meet the computing power needs of new technologies such as generative AI, Web3 metaverse, cryptocurrency mining, and high-end graphics rendering by providing a decentralized GPU infrastructure. (Globe Newswire)

global policy

SEC Chairman Gary Gensler to Testify at Two Congressional Hearings in September

Odaily News Fox Business News reporter Eleanor Terrett posted on X that US SEC Chairman Gary Gensler will attend two congressional hearings in September this year, namely the hearing of the US Senate Banking Committee on September 12, local time, and the hearing on September 27. House Financial Services Committee hearing.
Earlier, U.S. lawmakers, especially Republicans, made a series of criticisms and allegations against Gensler. Patrick McHenry, chairman of the U.S. House of Representatives Financial Services Committee, criticized Genslers approach to digital asset regulation as being too aggressive, and currently lacks clear guidelines as to which digital assets fall under the SECs jurisdiction. (CryptoSlate)

character * voice

Hashkey COO: It is expected that only 5 to 8 exchanges will eventually be able to obtain Hong Kong compliance licenses

Odaily News HashKey Group Chief Operating Officer Weng Xiaoqi (Livio Weng) said in an interview that Hashkey will not only be launched in Hong Kong, but in addition to China and the United States and restricted areas, other countries or regions can conduct business in compliance with regulations.
He also said that it is expected that only 5-8 exchanges will eventually successfully obtain the Hong Kong virtual asset exchange license, and 80% of the license applications are expected to be withdrawn.
At present, Hashkey cooperates with Chainalysis to ensure the security and compliance of encrypted assets themselves. In addition, Hashkey may be the first to launch ETFs (especially spot ETFs) within the compliance framework, including providing the underlying infrastructure for funds applying for ETFs in Hong Kong, which has already started. (DeThings)

Consensys Attorney: Uniswap Class Action Judge Determines Ethereum Is a Commodity, Not a Security

Odaily news ConsenSys lawyer Bill Hughes posted on X that the judge of the US District Court for the Southern District of New York clearly ruled in the class action ruling against Uniswap on August 29 that Ethereum is a commodity, not a security. Hughes added that there was no analysis in the ruling, only conclusions, but felt it was still a fairly clear statement.
In addition, the judgment document also implies that Wrapped BTC is a commodity, but does not explicitly state this.

Original article, author:Azuma。Reprint/Content Collaboration/For Reporting, Please Contact report@odaily.email;Illegal reprinting must be punished by law.

ODAILY reminds readers to establish correct monetary and investment concepts, rationally view blockchain, and effectively improve risk awareness; We can actively report and report any illegal or criminal clues discovered to relevant departments.

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