Organizer: Luan Peng, ChainCatcher
“What Vital Occasions Occurred This Week (10.14-10.20)”
In accordance to Caixin, the Hong Kong SAR authorities introduced that the Chief Govt of the Hong Kong SAR has appointed Dr. Huang Tianyou as the Chairman of the Securities and Futures Commission (SFC) for a three-year time period, from October 20, 2024, to October 19, 2027, below the Securities and Futures Ordinance (Chapter 571).
Polkadot group members Alice and Bob launched the Treasury operational report for Q3 2024 on the official governance discussion board.
The report exhibits that the Polkadot Treasury stability is 33.3 million DOT (roughly $153 million), with a surplus of 32.4 million DOT (roughly $149 million) after deducting liabilities.
In phrases of expenditures, the Polkadot Treasury spent a complete of $27 million (5.2 million DOT) in Q3, which is about half of the complete expenditure in Q2 (down from $58 million to $27 million), and in DOT phrases, it decreased from 8 million DOT to 5.2 million DOT.
Particularly, marketing-related bills noticed the largest lower, from $27 million to $9.9 million; development-related bills remained steady, growing from $10 million to $11.9 million; operational bills additionally remained at a related degree, reducing from $1.7 million to $1.4 million; expertise and education-related bills noticed a slight enhance, from $2.3 million to $3.8 million; analysis bills had been low, reducing from $1.5 million to $310,000; no financial incentive proposals had been accepted this quarter.
3、Bitcoin Infrastructure Company Blockstream Completes $210 Million Convertible Note Financing, Led by Fulgur Ventures
Bitcoin infrastructure firm Blockstream has accomplished $210 million in convertible notice financing, led by Fulgur Ventures. This spherical of financing will probably be used to speed up market adoption of its Bitcoin Layer 2 know-how, broaden its mining operations, and enhance its Bitcoin reserves.
Blockstream’s Layer 2 options embody Liquid Community and Core Lightning.
It’s reported that over $1.8 billion in belongings have been issued on the Liquid Community, together with stablecoins, tokenized bonds, and securities, with roughly 3,844 Bitcoins locked on-chain (price about $250 million). The corporate plans to place Liquid as the “de facto infrastructure” for the tokenization of bodily belongings inside the Bitcoin ecosystem.
4、Canary Submits Litecoin Spot ETF Application to U.S. SEC
In accordance to the U.S. SEC’s official web site, cryptocurrency funding agency Canary Capital has submitted a registration utility for a spot LTC exchange-traded fund (ETF) to the U.S. Securities and Alternate Commission (SEC).
5、“Network State” Project Praxis Raises $525 Million to Build Crypto-Friendly Cities
Claiming to be the world’s first “community state,” the undertaking Praxis introduced on Tuesday that it has secured $525 million in funding to build a cutting-edge city that helps the improvement of cryptocurrency, synthetic intelligence, vitality, and biotechnology.
In accordance to the announcement, the funding contributors embody Arch Lending, GEM Digital, Manifold Buying and selling, and new angel traders such as Dan Romero (CEO of Farcaster), Tom Schmidt (Common Accomplice at Dragonfly), and Rob Hadick (Common Accomplice at Dragonfly).
Moreover, Web3 asset knowledge platform RootData exhibits that Praxis is a group composed of future city residents, together with founders, creatives, traders, and everybody in between. Membership is predicated on an utility course of. As soon as accepted, members can take part in actions and contribute to the city’s improvement. Most significantly, members share a frequent way of life: optimism, well being, clear objectives, and a dedication to concepts better than themselves, summarized in a single phrase: vitality.
6、Sources: Do Kwon Conducted at Least Three Cryptocurrency Transactions After Arrest
In accordance to Protos, Terra founder Do Kwon was arrested in Montenegro on March 23, 2023, however his digital gadgets weren’t handed over to the investigating choose till June of that 12 months.
An official from Montenegro’s particular police instructed Portal ETV that in searches of inmates, together with Do Kwon, laptops, telephones, cryptocurrency pockets login data, and “different codes to entry the blockchain” had been discovered.
Two sources acknowledged that at the least three cryptocurrency transactions had been performed utilizing Do Kwon’s crypto pockets throughout his detention. This data was linked to accounts related with a cell phone firm in Podgorica.
7、CMB Wing Lung Bank Launches Virtual Asset ETF Trading Service for Hong Kong Stocks
In accordance to the Hong Kong Financial Journal, CMB Wing Lung Financial institution has formally launched buying and selling providers for digital asset exchange-traded funds (ETFs) in the Hong Kong inventory market, turning into one of the first Chinese language-funded banks in Hong Kong to provide digital asset ETF buying and selling providers.
In response to Zhu Su’s earlier put up involving Arthur Hayes, Arthur Hayes acknowledged, “The one true data in your put up is that each of us labored at Deutsche Financial institution. If you find yourself prepared to cooperate with the BVI liquidators, please accomplish that rapidly and cease making collectors pay authorized charges. BitMEX will settle for the courtroom’s determination as deemed applicable, however I can’t have interaction in behind-the-scenes buying and selling such as you did with CoinFlex, Hodlenaught, Ox, and many others.”
It’s reported that Zhu Su beforehand acknowledged that almost all of the work he did was for Arthur Hayes, and that they labored collectively at the identical financial institution counter at Deutsche Financial institution in Hong Kong, probably having two or three dozen shut mutual mates. Zhu Su claimed to have supplied many collaboration alternatives to Arthur Hayes, main many collectors who incurred losses to seize these alternatives. Earlier this 12 months, after Arthur Hayes indicated that this affected his means to conduct enterprise, Zhu Su withdrew his expedited safety order in opposition to Arthur Hayes.
9、DBS Bank Launches “Token Services” to Achieve Blockchain-Based Banking
Singapore’s DBS Financial institution has launched a new service referred to as “DBS Token Providers,” which mixes tokenization and good contract capabilities with its present banking providers.
In accordance to the assertion, DBS Token Providers integrates the financial institution’s licensed blockchain appropriate with the Ethereum Digital Machine, its core cost engine, and a number of trade cost infrastructures.
Moreover, good contracts allow establishments to programmatically handle the use of funds. Particularly, the new service consists of Treasury Tokens, Conditional Funds, and Programmable Rewards.
Loh Boon Chye, Head of World Transaction Providers at DBS Financial institution, acknowledged that DBS Token Providers permits company and public sector entities to “optimize liquidity administration, streamline operational workflows, improve enterprise resilience, and open new alternatives for finish prospects or finish customers to take part.”
In accordance to Coindesk, Citi (C) acknowledged in a analysis report on Wednesday that a Republican landslide victory in the upcoming U.S. elections can be the most favorable final result for Coinbase and the cryptocurrency market, whereas a victory for Harris and a divided Congress may lead to extra uncertainty in the digital asset trade.
Analysts led by Peter Christiansen wrote, “The Trump/Vance mixture has publicly supported digital asset reform, and Republican management of the Senate is essential for passing payments like FIT21 and confirming leaders who help cryptocurrency. With a unified Congress, the tempo of digital asset reform might speed up.”
Nonetheless, the report famous that a Republican victory in the Senate and a Democratic victory in the Home would nonetheless be favorable for Coinbase and the cryptocurrency market. The U.S. elections will probably be held on November 5, with outcomes introduced on November 8.
11、Bernstein: Bitcoin Strength Linked to Increased Probability of Trump Winning
Analysts at analysis and brokerage agency Bernstein acknowledged that after a 5% rise on Monday, Bitcoin has elevated by about 14% in October, surpassing $65,000. That is pushed by a correlation with the rising chance of Donald Trump’s election, with MicroStrategy being a main indicator of potential bullish breakouts.
Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia analyzed, “We imagine the current power of Bitcoin is due to the correlation between Bitcoin and the chance of Trump’s election returning, regardless of either side expressing help for digital belongings. Nonetheless, due to Trump’s elevated odds in the election prediction market, the bids in the crypto market are stronger.”
Hong Kong SAR Chief Govt John Lee acknowledged that the authorities will proceed to promote the coverage stance and pointers for the utility of synthetic intelligence in progressive monetary providers such as central financial institution digital foreign money, cell funds, digital banks, digital insurance coverage, and digital asset buying and selling.
Measures embody: 1. Selling cross-border cost purposes utilizing central financial institution digital foreign money. The Hong Kong Financial Authority is actively testing and exploring extra know-how options and situations associated to cross-border commerce settlement on numerous central financial institution digital foreign money cross-border networks, increasing the participation of public and non-public establishments; 2. Enhancing regulation of digital belongings and buying and selling. The Monetary Providers and the Treasury Bureau will full the second spherical of session on the regulation of over-the-counter buying and selling of digital belongings and submit a digital licensing system for regulating digital asset custodians; 3. Selling the tokenization of real-world belongings and the digital foreign money ecosystem. The Hong Kong Financial Authority is selling the progress of the Ensemble undertaking.
In accordance to Cointelegraph, Radiant Capital and two cybersecurity corporations disclosed that after a cybersecurity vulnerability incident exceeding $50 million occurred on the BNB Chain and Arbitrum, Radiant Capital has suspended its lending market.
Web3 cybersecurity firm De.Fi Antivirus acknowledged on X platform: “By exploiting the ‘transferFrom’ perform on BSC and ARB chains, attackers focused the Radiant Capital contract, stealing person funds, together with USDC, WBNB, ETH, and many others. The assault resulted in roughly $58 million in stolen funds.” That is related to the estimate from one other cybersecurity firm, Ancilia Inc., which estimated the loss at round $50 million. Radiant is managed by a multi-signature pockets, and the attackers gained management of the non-public keys of a number of signers, then managed a number of good contracts.
Radiant acknowledged in a put up on X platform: “We’re conscious of the points in the Radiant lending market on the BNB Chain and Arbitrum. We’re working with SEAL911, Hypernative, ZeroShadow, and Chainalysis and will present updates as quickly as doable. The markets on Base and the mainnet will probably be suspended till additional discover.”
The Russian Federal Monetary Monitoring Service (Rosfinmonitoring) emphasised that even when the Monetary Motion Activity Pressure (FATF) decides to blacklist Russia, its anti-money laundering system will proceed to function successfully. Earlier assessments talked about points with digital foreign money regulation, however Rosfinmonitoring insists that these points have been resolved.
In accordance to TASS, the regulatory company acknowledged: “The Russian Federation has improved its rankings on three FATF suggestions, with just one being downgraded to ‘partially compliant’ due to inadequate legislative regulation in the subject of digital foreign money circulation.”
Nonetheless, Rosfinmonitoring identified that since these assessments, Russia has handed two federal legal guidelines to strengthen its digital foreign money regulatory framework. The company added: “Since then, the Russian Federation has handed two federal legal guidelines regulating the circulation of digital currencies.”
It’s reported that the FATF is an intergovernmental group that units international requirements for anti-money laundering and combating the financing of terrorism. Whether or not Russia will probably be blacklisted will probably be mentioned at the FATF plenary assembly from October 21 to 25.
15、Worldcoin Renamed to World Network and Announces World Chain Mainnet Launched
The digital id undertaking Worldcoin, supported by OpenAI CEO Sam Altman, introduced its renaming to World Community (abbreviated as World) and formally launched its Ethereum Layer 2 blockchain mainnet, World Chain.
World Community acknowledged that as the undertaking scales and the significance of the World ID human proof protocol will increase, “Worldcoin” can not absolutely encapsulate the undertaking’s mission. The brand new model World consists of three core pillars: World Chain, World ID, and Worldcoin token, aiming to build a community composed of actual, verified people to drive developments in synthetic intelligence.
World Chain is a “human-only” group constructed on the OP Stack, offering extra sensible purposes and decrease gasoline charges, and will enable customers to take part in the improvement route of World Chain in the future. Nicely-known initiatives such as Optimism, Alchemy, Uniswap, Protected, Dune, and Etherscan will help the launch of this blockchain.
“What Attention-grabbing Articles Are Price Studying This Week (10.14-10.20)”
1、Optimism’s New Revenue Engine Superchain: OP Stack Ecosystem Revenue Exceeds $40 Million
The crypto group is celebrating DeFi chief Uniswap’s launch of the new Layer 2 community Unichain, whereas Optimism, as the key underlying know-how supplier, is the silent huge winner behind the scenes.
On October 15, throughout the official announcement of Uniswap’s developer grant program for Unichain, it was acknowledged that Unichain is a new Layer 2 community constructed on OP Stack know-how. As a half of Superchain, Unichain builders may also obtain extra rewards from Optimism Collective Grants. This announcement undoubtedly serves as a public endorsement of OP Stack know-how and clarifies Uniswap’s desire for OP Stack amongst numerous L2 Stacks improvement options (such as Arbitrum, zkSync, and many others.).
The collaboration between the two not solely signifies Uniswap’s deep recognition of OP Stack’s technological power but in addition introduces a sturdy ally to Optimism’s Superchain ecosystem. As of October 17, the quantity of L2 or L3 chains constructed on OP Stack has risen to 39, bringing over $40 million in income to Optimism.
Uniswap’s involvement is undoubtedly a boon for Optimism. As a long-standing spine in the DEX market, Uniswap’s massive person base and buying and selling quantity are doubtless to inject new vitality into Optimism’s SuperChain ecosystem and open up new income development alternatives.
2、Clone Version of “MicroStrategy” Enters in Bulk, Has BTC’s “Lying Win Strategy” Been Confirmed?
Final week, after founder Michael Saylor introduced that Microstrategy (NASDAQ:MSTR) goals to grow to be the main “Bitcoin financial institution,” MSTR surged almost 16% final Friday, breaking by $212 (briefly retreating to $194), with its market capitalization hovering to $43 billion, setting a new historic excessive.
Since Microstrategy started its Bitcoin funding technique in August 2020, MSTR has elevated by over 1600%, outperforming BTC and main tech shares like Nvidia in the S&P 500.
Underneath regulatory strain, Telegram’s privateness guarantees have crumbled.
Telegram’s speedy rise to grow to be the world’s fastest-growing communication platform, boasting 900 million month-to-month energetic customers and attracting the crypto group, is basically due to its sturdy stance on privateness safety, freedom of speech, and anti-censorship.
Nonetheless, following the arrest of founder Pavel Durov in France, Telegram’s privateness coverage underwent a vital change.
Telegram first quietly up to date its FAQ, eradicating the assertion, “All Telegram chats and group chats are non-public conversations between contributors. We don’t course of any requests associated to them.”
Pavel Durov quickly introduced on Telegram that person IP addresses and cellphone numbers can be shared with related regulatory authorities. Not too long ago, the Pockets utility on Telegram has additionally begun supporting regulation enforcement proof assortment.
Telegram’s compromise has as soon as once more raised person issues about privateness safety. Particularly for crypto customers, who deal with a great amount of private data and monetary knowledge, Telegram’s determination to share person knowledge with regulators inevitably will increase the dangers of transactions.
This transfer by Telegram might pressure a massive quantity of privacy-conscious customers to “flee,” looking for on the spot messaging platforms that obtain anti-censorship and communication freedom from the floor up, with out counting on the founder’s guarantees.
4、Ether.Fi Founder Reveals: The Top Ten Chaos in Crypto VC
You meet with a accomplice or assistant, and the assembly goes easily, however they organize one other assembly with one other accomplice, who has no concept who you might be, hasn’t acquired any related briefing, and hasn’t learn the notes. Thus, you expertise one other first assembly. If this occurs 3 times or extra, it turns into much more “thrilling.”
5、Interview with Sui Co-Founder Adeniyi: What Have We Done to Improve User and Developer Experience?
This text is an interview by Grayscale with Sui co-founder Adeniyi Abiodun. Adeniyi Abiodun is the co-founder and Chief Product Officer of Sui/Mysten Labs. Earlier than founding Mysten Labs, Adeniyi led many R&D initiatives at Meta in the blockchain and cryptocurrency area, together with the Diem (previously Libra) community and the Transfer programming language. In the interview, Adeniyi elaborates on the benefits of the Sui community and some sensible utility situations, discusses Sui’s progressive purposes for customers and builders, and outlines the future improvement route of Sui. Under is the full dialogue:
On October 13, the closing value of the SUI token broke by $2.2, setting a new all-time excessive, with its market capitalization getting into the prime 20, and the upward pattern continues, with the value surpassing $2.3 on October 14, marking a rise of over 30% in the previous two days. Latest monitoring knowledge from merchants exhibits that the efficiency of the SUI token has surpassed that of TON, making it the best-performing public chain token since early 2024.
At the identical time, a number of ecological meme undertaking tokens, such as HIPPO, BLUB, and FUD, have additionally surged, with will increase exceeding tenfold. Moreover, two main DeFi purposes inside the ecosystem: the lending protocol NAVI Protocol and the order ebook trade DeepBook, will formally begin token buying and selling on October 14.
The sturdy efficiency of Sui tokens and ecosystem initiatives has attracted vital consideration in the crypto market, with a massive inflow of funds into the Sui ecosystem looking for wealth alternatives. In accordance to Cointelegraph, almost 27% of funds that flowed out of Solana in September have shifted to Sui.
In accordance to DeFiLlama knowledge, the buying and selling quantity of funds on the Sui chain in the previous seven days has exceeded $1.32 billion, rating sixth in the whole public chain market, with Arbitrum in fifth place.
How to seize new wealth alternatives in the rise of the Sui chain ecosystem has grow to be a scorching subject in the crypto group.
7、On the Eve of Airdrop, Deep Dive into How Many Points Scroll Team Addresses Have?
Scroll is about to formally take an airdrop snapshot tomorrow and will open airdrop claims on October 22. On the eve of the airdrop, on-chain analyst Andrew 10 GWEI printed a deep dive into the factors (marks) scenario of a number of co-founders and group members of Scroll, displaying that a number of addresses related with the Scroll group have typically amassed tens of hundreds and even tens of millions of factors.
On this regard, a number of group members have referred to as for equity, urging that addresses holding massive quantities of factors must be excluded from the airdrop. As of the publication of this text, the Scroll group members haven’t responded to Andrew 10 GWEI’s investigation.
Since its launch, EigenLayer has confronted steady controversy. Initially, it “employed” Ethereum Basis researchers with excessive salaries, adopted by token possession disputes.
9、Beyond Memecoins, Why You Should Pay Attention to Undervalued Liquid Tokens?
The argument for liquid tokens is straightforward: I imagine there are big alternatives (alpha) in the liquid token funding area, whereas the VC token funding area has grow to be oversaturated.
Many nice corporations are constructing in the cryptocurrency area, and all of them have their very own tokens, however the pricing just isn’t cheap.
The primary driving pressure behind valuations in 2021 was the depiction of goals. I imagine that after 2024, valuations will come from the realization of these goals.
10、“Network State” Project Praxis Raises $525 Million, Blockchain Utopia Still Faces Many Challenges
On October 15, the undertaking Praxis, claiming to be the world’s first “community state,” introduced it has raised $525 million.
Of the $525 million raised, $500 million comes from GEM Digital, and the remaining $25 million comes from Arch Lending. Nonetheless, this quantity has not all been acquired; the undertaking wants to switch some powers and obtain objectives at every stage to obtain the full quantity.
The Praxis undertaking was based in 2020, throughout the peak of the metaverse idea. Praxis, in distinction, goals to set up a “nation” or “city” in the actual world by the idea of a community state. Will such a utopian observe succeed?
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