| ARK Applies for Ethereum ETF; FTX Wallet Anomaly (September 7th)
Headline
ARK Invest Submits First Ethereum Spot ETF Application
Odaily News - According to Bloomberg analysts, ARK Invest has submitted the first Ethereum spot ETF application.
BTC Falls Below 25500 USDT Temporarily with a 24-hour Decline of 1.09%
Odaily News - According to the market data from Eosen OKX, BTC briefly fell below 25500 USDT.
FTX Progress
US Department of Justice: SBF Can Now Prepare Defense Materials Daily on Isolated Computers
The US Department of Justice declared that SBF can now prepare defense materials daily on dedicated isolated computers, working 11 hours on weekdays and 7.5 hours on weekends and holidays.
Previously, SBF's lawyers argued that SBF could only use the computer twice a week, with battery and signal issues that significantly impacted the defense. (CoinDesk)
Judge Rejects SBF's Pretrial Release Motion
In a document submitted to the United States Second Circuit Court of Appeals on September 6, the court clerk Catherine O'Hagan Wolfe stated that a circuit judge denied the motion by SBF's legal team to immediately release SBF from the Brooklyn Metropolitan Detention Center. SBF's lawyers argued that SBF is only allowed to use a computer twice a week, and there are issues with the battery and signal, which significantly affects the defense.
The motion for pretrial release will now be submitted to a panel of three judges; in addition, the criminal trial against SBF will take place on October 3 in the Southern District of New York Federal Court. (Cointelegraph)
FTX: Actively Cross-Chain Various Tokens to Its Native Chain
FTX announced on the X platform that it has been actively cross-chaining various tokens to its native chain. Furthermore, FTX has been transferring SOL and other tokens from existing wallets to FTX's custodian, BitGo.
Industry News
US Dollar Index Breaks 105, Hits Six-Month High
Market data shows that the US Dollar Index has broken the 105 level, reaching a six-month high.
Grayscale Writes to SEC: GBTC Ready for ETF Operations
Grayscale stated on the X platform that it has submitted a letter to the SEC, which contains information that can serve as a reference for the SEC's further decisions on GBTC. Grayscale stated that the SEC's review time for the conversion of GBTC into a spot Bitcoin ETF 19b-4 filing has exceeded the designated time by three times, and GBTC is ready for ETF operations once regulatory approval is granted.
Google updates its advertising policy to allow NFT game advertising
Google has updated its advertising policy to allow the placement of NFT game advertisements, as long as the advertisements do not involve gambling or gambling promotion. This policy will be implemented starting from September 15th. (Cointelegraph)
Celsius files an "adversary complaint" against EquitiesFirst to recover $439 million in assets
Court documents show that Celsius Network has filed an "adversary complaint" against EquitiesFirst Holdings on Wednesday afternoon in an attempt to recover assets.
EquitiesFirst is reportedly a private lending platform that owes Celsius about $439 million in cash and Bitcoin as of July 2022. Celsius first obtained a mortgage loan from the platform in 2019, but EquitiesFirst failed to return the collateral in 2021.
The filed document lists EquitiesFirst and its CEO, Alexander Christy, as defendants. (CoinDesk)
Visa executive: Visa payments will involve multiple blockchain networks, stablecoins, CBDC, etc.
Visa blockchain leader Cuy Sheffield said in a blog post on Wednesday that, despite various flaws and issues, blockchain technology is similar to the early Internet and is moving from obscurity to ubiquity. Sheffield believes that blockchain technology, in terms of efficiency, related costs, and usability, may mature in the next decade.
In addition, he expects Visa's payment network to involve not only "multiple currencies and banking settlement tracks but also multiple blockchain networks, stablecoins, and CBDCs or tokenized deposits". (Decrypt)
Project Updates
Lido provides $63,000 funding to RAI fork project HAI to assist with audit
Lido DAO governance forum shows that Lido has provided $63,000 funding to stablecoin project HAI on Optimism, to assist the latter in completing an audit by a third-party security firm.
It is reported that HAI is a fork project of reflexer finance (RAI). Recently, V God has stated that the rise of RAI can solve the issue of Lido's monopoly in the LSD ecosystem.
Polygon Foundation addresses deposited 10.6 million MATIC into Binance in the past 30 days
According to Lookonchain, the address marked as "Polygon Foundation: 0x8d36" has deposited 6 million MATIC (worth about $3.35 million) into Binance in the past 2 days.
Another address marked as "Polygon Foundation: 0xf957" has deposited 4.6 million MATIC (worth about $2.57 million) into Binance in the past 30 days.
South Korean financial giant Mirae Asset Securities has partnered with Polygon Labs, with a focus on building infrastructure for tokenized securities platforms and the technology required for issuing and distributing tokenized securities.
Mirae Asset Securities, a subsidiary of Mirae Asset Financial Group, had managed assets worth $565 billion as of June this year. (Blockworks)
Binance responds to CYBER event: No internal dumping and arbitrage behavior
A user today posted on X platform that their 146,000 CYBER coins purchased on Binance on September 1st, deposited into Binance savings account, couldn't be redeemed that night, reaching a peak value of $2.336 million.
Binance has issued a statement in response to this event, stating that there is no internal dumping and arbitrage situation within Binance, and the withdrawal limitation is due to poor market liquidity.
Data from Nansen shows that the supply of the stablecoin First Digital USD (FDUSD) has increased by 51% in the past 30 days, with a market value of nearly $394 million.
According to CoinGecko, based on this market value, FDUSD is currently the 11th largest USD stablecoin in terms of market capitalization.
Nansen analyst Martin Lee said, "Over 90% of FDUSD's supply is on the Binance platform. Currently, there is no real use case in DeFi or any on-chain applications, so there isn't anything really exciting yet." (The Block)
Charles d'Haussy said that dYdX will migrate to the Cosmos Network. It is not expanding, but only migrating. The dYdX trading platform on Ethereum will be shut down in a few months. Users just need to connect their MetaMask wallet to the new dYdX chain. (Cointelegraph)
Binance: Refund Assets for XIRTAM Have Been Deposited Into the Smart Contract
Binance has released an update regarding XIRTAM-related matters. The relevant assets have been deposited into the smart contract. Users can view the information about the Claim contract through the XIRTAM refund guide and follow the instructions to check the relevant information.
Binance Will Delist 16 BUSD Trading Pairs on September 8th
Binance has announced that it will remove 16 spot trading pairs and cease trading based on liquidity and trading volume.
STEPN Team's New Game "Gas Hero" Will Choose Polygon as the First Launch Network
The new game "Gas Hero" developed by Find Satoshi Lab (FSL), the parent company of STEPN, announced that it will exclusively launch on Polygon. The game is expected to be officially released in December 2023.
Investment and Financing
Trident Digital Group, a crypto lending platform founded by former Coinbase executives, has completed a $8 million seed round financing, led by White Star Capital and New Form, with participation from CMT Digital, Joint Effects, and Permit Ventures.
It is reported that Trident will launch a yield product related to risk-free interest rates. Its founder, Anthony DeMartino, previously worked at UBS, Barclays, and HSBC, and joined Coinbase in 2021 as Head of Risk Strategy, focusing on DeFi and derivative trading. He subsequently served as CEO of Matrixport's US business for a year and stepped down in July this year. (The Block)
Socket Protocol, a cross-chain protocol, announced the completion of a $5 million financing round, with participation from Coinbase Ventures and Framework Ventures. Socket aims to connect L1 blockchains to more L2 or rollup solutions, and the new funding will be used to expand Socket's partnership with Coinbase, including providing cross-chain services to developers and users of Coinbase Wallet and Base network. (CoinDesk)
