headlines
Ordinals founder Casey Rodarmor proposed a new protocol based on the Bitcoin network called Runes as an alternative to BRC 20. Rodarmor believes that the problem with BRC 20 tokens is that they generate “garbage UTXOs” that take up space in Bitcoin. In a post on September 25, Rodarmor said that the BRC 20 token has the characteristics of undesirable UTXO increase. He said that Runes is a UTXO-based protocol that more naturally adapts to Bitcoin and avoids the creation of Junk UTXO to promote the minimization of UTXO collections.
cryptocurrency
Grayscale launches new brand image to reflect company mission, vision and values
According to official news, Grayscale announced the launch of a new brand image and a comprehensive revision of the official website. Grayscale said the new brand reflects the company’s mission, vision and values and will better help investors understand the evolving crypto ecosystem.
MicroStrategy buys 5,445 Bitcoins for $147.3 million
Michael Saylor, the founder of MicroStrategy, posted on the .
SBF lawyers file another motion for pretrial release
SBFs defense team has re-filed an application for interim release against SBF, citing the difficulty of preparing an adequate defense under current restrictions, according to new court documents. The legal team said the SBFs knowledge and involvement were critical in reviewing thousands of pages of investigative materials and financial records involving complex matters. To mitigate possible flight risk concerns, the defense proposed conditions such as private security personnel escorting SBF between approved locations and restricting his use of communications devices during his interim release, and the defense indicated a willingness to accept any additional conditions deemed necessary by the court. limit. The news comes after a three-judge panel of the U.S. Court of Appeals for the Second Circuit on September 21 denied SBF’s motion for early release. The panel ruled largely on First Amendment grounds, saying Judge Lewis Kaplan, who presided over SBFs criminal case, had correctly determined that SBFs remarks constituted witness tampering.
Project News
friend.tech TVL exceeds US$40 million
DeFiLlama data shows that friend.tech TVL exceeded $40 million and is currently at $40.06 million. According to previous news, friend.tech TVL exceeded US$10 million on September 8, US$20 million on September 11, and US$30 million on September 14.
Aave V3’s TVL on Ethereum reached $1.87 billion, more than three times the total TVL on other chains
DefiLlama data shows that Aave V3 was launched on Ethereum on January 27, 2023, and its TVL peaked in 42 days; it is currently $1.87 billion, more than three times the total TVL on all other chains.
BAYC announced a cooperation with the trendy brand BAPE on the BAYC added that BAYC holders have first dibs, but the collection will be available in BAPE stores globally soon.
Cross-chain lending protocol Radiant Capital has submitted a proposal to the Arbitrum DAO to obtain a strategic grant to further fuel the growth of the ecosystem. The proposal builds on Radiant’s recent successful ARB airdrop campaign on Arbitrum, which resulted in a 67% increase in RDNT holders and a 19% increase in TVL. Radiant is requesting funding ranging from 52,126 to 3,359,302 ARB through the proposal to expand its influence in the following three core areas: 1. Sticky liquidity: through its proprietary long-term dynamic liquidity Supply (dLP) mechanism to encourage new and old users to participate in the ARB airdrop; 2. Ecosystem enrichment: Cooperation plans with existing protocols such as GMX, Camelot, Dopex and Plutus, aiming to diversify liquidity pools, enhance lending options and cultivate Robust options market; 3. Future integration: As Radiant is about to be launched on the Ethereum mainnet and expand its influence on the BNB chain, the fund will attract a wider user group to join Arbitrum. If the proposal is approved, Radiant will track KPIs such as incremental TVL, white space users, total user growth, and sequencer revenue generated through the plans executed in the proposal. It is reported that Radiant is building a full-chain currency market on Layer Zero and Stargate to promote seamless lending of cross-chain assets.
Investment and Financing
Fhenix closes $7 million in seed round led by Multicoin Capital and Collider Ventures
Fhenix, the first confidential blockchain powered by fully homomorphic encryption (FHE), announced a $7 million seed round led by Multicoin Capital and Collider Ventures, with participation from Node Capital, Bankless, HackVC, TaneLabs and Metaplanet, and others Individual investors include Tarun Chitra and Robert Leshner of Robot Ventures. Funding from this round will be used to bring the Fhenix network to a public testnet early next year and support ecosystem application development.
Avantis Labs completes $4 million in seed round led by Pantera Capital
DeFi derivatives trading platform Avantis Labs has completed a $4 million seed round of financing. This round of financing was led by Pantera Capital, with participation from Founders Fund, Coinbase’s Base Ecosystem Fund and Modular Capital. The new funding will be used to grow its flagship product, Avantis, a perpetual contracts trading and market-making protocol. Avantis is being developed on Optimism Superchain, a chain network built using OP Stack and using the USDC stablecoin as collateral for its protocol transactions.
regulatory policy
Regarding Tether modifying its terms of service and restricting Singaporean entities from redeeming USDT, Tether’s chief technology officer responded that the 2020 legal terms shall prevail. Its legal clause 1.1.30 reads: Prohibited jurisdictions include Singapore, Cuba, North Korea, Iran, Pakistan, Syria, the Government of Venezuela, and Crimea.
Goyang City in South Korea stated that it is becoming more and more common to default on local taxes through virtual assets. They will take action against high local tax defaulters and freeze their virtual assets. According to the Law on the Reporting and Use of Specific Financial Transaction Information, etc. revised last year, Goyang City can view customer information and transaction records of virtual asset exchanges. Therefore, Goyang City introduced a “virtual asset electronic collection system” to deal with tax evasion. Currently, Goyang City has requested the three major domestic virtual asset exchanges (Bithumb, Upbit, Korbit) to provide the virtual asset holdings of 10,391 high local tax defaulters. Once the information is confirmed, they plan to freeze and recover the assets of the defaulters.
Character*Voice
Hong Kong Chief Executive Lee Ka-chiu said that the Securities and Futures Commission has announced the release of different lists, which he believes will help investors make decisions, and calls on investors to invest in licensed platforms. Investors who invest in unlicensed platforms must bear their own risks. Li Jiachao also said that the authorities will ensure that the information released is as transparent and clear as possible, promote investor education, and recommend that everyone understand the nature and risks of investment products as much as possible.
JPMorgan CEO: Not sure markets are ready for 7% rates
JPMorgan Chase Co. CEO Jamie Dimon said the Federal Reserve may have to continue raising interest rates to tame persistent inflation, and an upcoming rise in borrowing costs could cause more damage to the global economy. Dimon said: Growing from 0% to 2% is not a big change, and going from 0% to 5% caught some people off guard, but no one would rule out 5% as a possibility, and Im not sure the market is doing it for 7%. Be prepared. If theyre going to lower volumes and raise rates, the system will come under pressure.
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