Today's Headlines:
US Government Plans to Notify Federal Employees of Possible Government Shutdown
US SEC Accepts Franklin Templeton and Hashdex's Bitcoin ETF Application
Ethereum Network Browser Rated Completes $12.89 Million Series A Financing, Led by Archetype
OpenAI: ChatGPT Now Able to Browse the Internet, Data No Longer Limited to Before September 2021
Ethereum Holesky Testnet is Back Online
GameFi Project Tiny World Personnel Suspected of Being Investigated by Police
Bloomberg: Kraken Plans to Launch US Stock and ETF Trading in 2024
Regulatory News
US SEC Chairman: Bitcoin is Not a Security as It Does Not Meet the Howey Test
During a hearing held by the US House Financial Services Committee, US House Financial Services Committee Chairman Patrick McHenry asked US Securities and Exchange Commission (SEC) Chairman Gary Gensler, "I asked you about Ethereum at the last meeting. Today I want to ask about Bitcoin. Why do you not consider Bitcoin to be a security? Do you think Bitcoin is a security?" Gensler replied, "I don't think Bitcoin is a security because it does not meet the Howey test." Gensler also stated, "The cryptocurrency industry has many fraudsters and thieves. This harms the interests of investors."
Gensler also stated: Cryptocurrencies Will Not Become Currency in the Short Term.
US SEC Delays Decision Date for ARK 21Shares and VanEck Ethereum ETFs to December
According to The Block, the US Securities and Exchange Commission (SEC) will delay the decision on the proposed ARK 21Shares Ethereum ETF, with the new deadline set for December 26th of this year. The SEC stated in a filing, "The Commission believes that designating a longer period to make a decision is appropriate in order to have sufficient time to consider the proposed rule change." In addition, it also decided to postpone the decision date for the VanEck Ethereum ETF to December 25th of this year.
US SEC Accepts Franklin Templeton and Hashdex's Bitcoin ETF Application
Bloomberg analyst James Seyffart tweeted that the US Securities and Exchange Commission (SEC) has accepted Franklin Templeton's Bitcoin spot ETF as well as Hashdex's Bitcoin and Ethereum ETF applications. The analyst stated that it typically takes about 1 week from the submission of Form 19b-4 to the SEC's acceptance of the application, but the SEC's rapid acceptance of the application this time may be based on concerns about the US government shutdown.
Bloomberg Analyst: US SEC Hopes to Expedite Launch of Ethereum Futures ETF
Bloomberg Senior ETF Analyst Eric Balchunas tweeted, "The US Securities and Exchange Commission hopes to expedite the launch of an Ethereum futures ETF (because they want to free it from their work after the government shutdown), so they have requested applicants to update their documents by Friday afternoon (this is not a small task, especially for independent issuers, to squeeze in 48 hours, so they can start trading on Monday and Tuesday."
US Government Plans to Notify Federal Employees of Possible Government Shutdown
According to The Washington Post, the US government plans to promptly notify federal employees that the government is about to shut down, as the Biden administration is preparing to orderly and systematically prepare to shut down most of Washington. Unless lawmakers can reach an agreement at the last minute to extend government funding beyond Saturday, millions of employees and military personnel will stop receiving pay within just three days.
The report stated that the government shutdown will force it to reduce to only the most essential functions. The resulting chaos could be quite severe, especially if the deadlock continues for weeks, potentially dragging down the fragile US economy and complicating many services relied upon by millions of Americans and businesses.
NFT&AI
OpenAI: ChatGPT Now Able to Browse the Internet, Data No Longer Limited to Before September 2021
OpenAI tweeted that ChatGPT can now browse the internet to provide users with the latest authoritative information and direct source links. The data is no longer limited to before September 2021.
Now, Plus and Enterprise users can use the browsing feature, and it will soon be expanded to all users. To enable, select "Use Bing Browse" in the selector under GPT-4.
Meta's New VR Device Quest 3 Now Available for Pre-order, Official Sales Begin on October 10th
Meta announced at the Connect conference that its latest virtual reality (VR) headset, Meta Quest 3, is now available for pre-order and will officially go on sale from October 10th, 2023. It is priced at $499.99 for the 128GB version and $649.99 for the 512GB version.
Project Updates
Mixin Founder: Compensation Ratios for BTC, ETH, and ERC20 USDT are 90%, 30%, and 10%
Mixin founder Feng Xiaodong announced the preliminary plan for the recovery of user wallet assets, stating that the main affected currencies in this incident are BTC, ETH, and ERC20 USDT, with expected compensation ratios of 90%, 30%, and 10% respectively. He noted that other versions of USDT were not affected.
Feng Xiaodong stated that the formal compensation plan announcement will take some time, but assured that the change in compensation ratios will not exceed 1%. Additionally, while other currencies have suffered losses to varying degrees, the team is prepared to use existing funds and borrow to fully compensate for the corresponding assets. Despite the initial estimated loss of $200 million, Feng Xiaodong stated that the Mixin team is currently working to compensate affected users based on the stolen coins' price in USD on the day of the theft, with priority given to the affected USDT ERC20 holders.
Uniswap Foundation Releases $62.37 Million Fundraising Proposal and Announces Multiple Future Plans
The Uniswap Foundation announced its latest fundraising and future plans. Uniswap governance approved providing $74 million in funding to the Uniswap Foundation. The foundation today released a proposal, stating that the initially requested amount was $74 million, with $17.3 million received in the first phase. The proposal now seeks to add 10% buffer funds to the second phase's remaining $56.7 million, totaling $62.37 million, with plans for an on-chain vote on October 4th, 2023. These funds will be used to support the development of the Uniswap ecosystem, including developer support, research funding, and more.
Lybra Finance tweeted that Lybra DAO will launch on October 1st, 2023, at 21:00 Beijing time. esLBR and LBR holders will be able to submit governance proposals and vote on critical decisions for Lybra's future. Submitting a DAO proposal will require a minimum of 10,000 esLBR. Voting will take place two days after the proposal submission. Any LBR/esLBR holder can vote, but any LBR used will automatically convert to esLBR after the vote. 1 LBR equals 1 vote.
Bloomberg: Kraken Plans to Launch US Stock and ETF Trading in 2024
Bloomberg reported, citing sources, that the cryptocurrency exchange Kraken plans to launch US stock and ETF trading services in 2024, marking its first foray into business outside the crypto field. According to an anonymous source, Kraken will initially offer the aforementioned trading through a new department called Kraken Securities in the US and UK. The company already holds the necessary regulatory licenses in the UK and has applied for a broker-dealer license with the US Financial Industry Regulatory Authority.
Do Kwon Rejects Extradition Request from US SEC
According to CoinDesk, a document filed with the US Southern District Court of New York on Wednesday shows that Terraform Labs founder Do Kwon has requested the federal court to reject the US SEC's request to question him in the US regarding the Terra and Luna collapse. The document states that Do Kwon's lawyer opposes providing testimony to the US regulatory agency and states that it is "impossible" to extradite Do Kwon to the US as he is still indefinitely detained in Montenegro. He is also unable to provide written testimony to the SEC as it would violate his due process rights under US law.
According to TechCrunch, messaging app Telegram is collaborating with the TON Foundation and Tencent to potentially transform Telegram into a "super app ecosystem platform" similar to WeChat, allowing third-party developers and businesses to develop mini-programs for user interaction, ranging from games to restaurants. Developers can use JavaScript to create highly flexible interfaces that can be launched within Telegram or completely replace any website.
BlockFi announced on the X platform that it will discontinue its iOS and Android mobile apps in the coming weeks as part of its ongoing business operations optimization. After the mobile app is discontinued, customers will only be able to access the platform through BlockFi's official website.
ConsenSys' Layer2 network Linea announced the launch of the soul-bound token Voyage XP, aimed at unifying and recognizing contributions to the development of the Linea ecosystem. Voyage XP is a non-transferable soul-bound token (SBT) representing the contribution of each community member to the ecosystem, covering users, startups, DApps, and Linea team members. By default, Voyage XP is visible in MetaMask, non-transferable, and cannot be cross-chain to other networks, and is associated with the user's address.
Binance to List BICO U Perpetual Contract Tonight at 20:30
Binance's futures trading platform will launch the USDⓈ-M BICO perpetual contract at 20:30 on September 28th, 2023 (Beijing time), with leverage of up to 10x.
GameFi Project Tiny World Personnel Suspected of Being Investigated by Police
According to reports from Wu, personnel related to the GameFi project Tiny World are suspected to be under investigation by the police. Tiny World is the original EOS Three Kingdoms team. Analysts point out that currently, blockchain games in China are easily associated with crimes such as operating casinos.
Hangzhou to Issue 10 Million RMB in Digital RMB Restaurant Special Consumption Vouchers
According to the official WeChat account "Hangzhou Release," from 10:00 on September 29th to 22:00 on October 8th, Hangzhou will issue 10 million RMB in digital RMB restaurant special consumption vouchers for the "Passionate Asian Games, Leading Hangzhou Consumption" - "Asian Food Festival" in 2023. The issuance is open to all personnel in Hangzhou (including those from outside the area).
Crypto.com Launches PayPal Stablecoin PYUSD
According to an official announcement, cryptocurrency exchange Crypto.com has launched PayPal USD (PYUSD) on its platform for retail and institutional users.
GMX Applies to Arbitrum DAO for Grants of Up to 14 Million ARB Tokens
GMX has submitted a grant application to Arbitrum DAO's Short-Term Incentive Program (STIP), focusing on creating diverse perpetual and spot pools. GMX requests DAO consideration for approving incentives of up to 12 million ARB tokens for its V2 version, as well as an additional 2 million ARB tokens for liquidity and trading volume plans for ecosystem partners building on GMX V2 but not directly receiving incentives from Arbitrum DAO. The proposal focuses on areas including converting CEX users to DEX users, promoting the development and integration of the Arbitrum protocol on GMX V2, targeted liquidity incentives, and fostering an active on-chain trading environment.
The governance forum page also shows that several projects, including Aave, Pancakeswap, Curve Finance, and Lido, have applied for grants from Arbitrum DAO, with grant amounts ranging from hundreds of thousands to millions of ARB tokens.
Zhao Changpeng: I Am Not the Ultimate Beneficiary of CommEx, Nor Do I Own Any Shares There
Binance founder commented on Binance/CommEx-related issues, stating, "When users transfer funds, cryptocurrency transfers will occur between Binance and CommEx. This was also the case during the integrated testing phase. It is expected. Some former Binance CIS team members may join or have already joined their team. We see this as a good thing. Their design, API, etc., are similar to Binance. We request this to ensure a smooth user experience. CommEx does not serve US or EU users. They have IP and KYC. These are the terms we require in trading. I am not the ultimate beneficiary there, nor do I own any shares there. There is no buyback option for this transaction."
SeeDAO Strategic Incubator to Launch and Incubate Public Chain Project Polis
SeeDAO announced that its strategic incubator has decided to launch and incubate the Polis public chain project. Ownership of the Polis public chain is 100% held by SeeDAO. The startup capital for the Polis public chain comes from the SeeDAO strategic incubator, and the Polis public chain team will jointly promote subsequent financing with the SeeDAO strategic incubator. The SeeDAO strategic incubator is responsible for the operational decisions of the Polis public chain project and supervises and reviews the project's development progress. The SeeDAO white paper was released on September 27, 2023. SeeDAO's vision is to become a city-state, and the fundamental purpose and essence of the city-state lie in people.
The Polis public chain project will also include the SeeDAO OS proposed in the white paper, and the team will be responsible for developing the SeeDAO OS and migrating it to the Polis public chain after its release.
X CEO: X Expected to Achieve Profitability by 2024, 90% of the Top 100 Advertisers Have Returned
X CEO Linda Yaccarino stated that X is expected to achieve profitability by 2024. She also mentioned that in the past 12 weeks, approximately 1,500 advertisers have returned to the platform, with 90% of the top 100 advertisers having returned to X.
Metrics Ventures Launches $30 Million Digital Asset Secondary Liquidity Fund
PANews reported on September 28th that venture capital firm Metrics Ventures announced the launch of a $30 million data and research-driven digital asset secondary liquidity fund. Metrics Ventures stated that it has obtained a mutual fund license from the Cayman Islands Monetary Authority (CIMA).
DFINITY Foundation Allocates $20 Million to Launch ICP Asia Alliance to Drive Web3 Adoption
According to official news, the DFINITY Foundation announced the launch of the Internet Computer Protocol (ICP) Asia Alliance and a $20 million grant fund to support the growth and development of blockchain and artificial intelligence technology in Asia.
The ICP Asia Alliance focuses on promoting the adoption of the Internet Computer blockchain and will bring together various stakeholders, including government organizations, investors, tech entrepreneurs, universities, developers, and community members, to establish a collaborative, educational, and innovative platform aimed at harnessing the transformative power of Web3 and AI technology for individuals, businesses, and communities. The ICP Asia Alliance grant fund will focus on fully leveraging the potential of Asian developers and building the infrastructure for the future of Web3 on the Internet Computer.
Ethereum Holesky Testnet is Back Online
PANews reported on September 28th that according to a post by EthHub co-founder sassal.eth, the Ethereum Holesky testnet is back online. Previously, on September 16th, the Ethereum Holesky testnet failed to launch due to network configuration errors.
PANews reported on September 28th that Coinbase announced that Coinbase International Exchange has received approval from the Bermuda Monetary Authority (BMA) to provide perpetual futures trading services to non-US retail traders. The service will be launched on Coinbase Advanced in the coming weeks.
According to Jiemian News, Zhang Yufeng, a 2018 graduate of the International Trade major at Shenzhen University, donated 50 million RMB to his alma mater in his personal capacity during the 40th anniversary celebration of the university. It is reported that on June 8, 2022, while still in his senior year, Zhang Yufeng gave a lecture at the School of Economics titled "Teacher-Student Interview: Senior Student Zhang Yufeng's Innovative Entrepreneurial Journey to Achieve Financial Freedom," which included topics such as alternative asset trading, balancing academic coursework and extracurricular internships, and obtaining internship offers from well-known companies. At the time, Zhang Yufeng was a partner at the Singapore hedge fund ABD Venture, primarily engaged in alternative asset investment and trading, with outstanding performance and substantial returns. Alternative assets refer to assets outside traditional categories, such as private equity, hedge funds, collectibles, and virtual currencies. A search on the internet did not yield further information about the hedge fund ABD Venture.
Starting from his sophomore year, Zhang Yufeng interned at various organizations, including the Singapore cross-border e-commerce platform Shopee, international consulting firm McKinsey, China International Capital Corporation, Tencent, and a leading US dollar fund. In addition, according to several Shenzhen University alumni, Zhang Yufeng invested in virtual currencies during his university years and shared his cryptocurrency trading experience on campus. One alumnus stated that Zhang Yufeng is a super-rich figure in his circle of friends and achieved financial freedom early on.
Funding News
Ethereum Network Browser Rated Completes $12.89 Million Series A Funding, Led by Archetype
According to The Block, the Ethereum network browser Rated announced the completion of a $12.89 million Series A funding round, led by Archetype, with seed investors Placeholder, 1confirmation, Cherry and Semantic, as well as new supporters Robot Ventures, Chorus One, Factor, and Maelstrom participating. Archetype founder and general partner Ash Egan has joined the Rated board. Rated co-founder and CEO Elias Simos stated that the Series A funding began in February of this year and concluded in May, and it was a "pure equity" round.
Rated Labs currently provides an Ethereum network browser, data API, and oracle, and plans to expand its products to multiple Layer 1 blockchain networks next year, including Polygon, Solana, Cosmos, and Polkadot.
Important Data
Address Suspected to be Associated with Bithumb Now Holds 11% of LEVER's Total Supply
PANews reported on September 28th that according to Lookonchain monitoring, over the past 6 days, a wallet has accumulated 1.72 billion LEVER tokens (approximately $3.58 million) from 8 addresses via Binance. The wallet currently holds 3.76 billion LEVER tokens (approximately $8.17 million), accounting for 11% of the total supply. According to Nansen's tagging, the wallet is associated with the South Korean cryptocurrency exchange Bithumb.
PANews APP Points Mall Officially Launched
Free exchange for hardcore prizes: imKeyPro hardware wallet, First Class Cabin Research Report monthly subscription, Ballet REAL series wallet, AICoin membership, various peripherals, and hundreds of selected research report collections. First come, first served, experience now!
PANews Launches Global LEAP Tour!
South Korea, Singapore, Shanghai, Taipei, multiple locations from September to December to witness a new chapter in globalization!
?Events in multiple locations are being planned, welcome to communicate!
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