Daily Report | Vitalik stated that he has no plans to invest in L2 or other token projects; WLFI plans to sell 30% of its tokens at a valuation of $18 billion; Zhao Changpeng still retains significant

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1 year ago

Compilation: Fairy, ChainCatcher

Important Information:

"What Important Events Have Happened in the Past 24 Hours"

Foreign Media: Trump Family's Crypto Project Plans to Sell 30% of WLFI Tokens at a Valuation of $1.8 Billion, Expected to Raise $537 Million

According to DL News, code tests identified by user Dumpster DAO indicate that the Trump family's crypto project, World Liberty Financial, plans to sell 30% of its WLFI token supply at a valuation of $1.8 billion to raise funds. If all these tokens are sold, it would bring in $537 million to the project's treasury.

Dumpster DAO inspected the token deployer for Dough Finance (an address on the Polygon blockchain) and found test contracts labeled WLFinancial and WLFiPresale. The contracts indicate a plan to sell 30% of the WLFI token supply at six different prices, starting at $0.0075 per token and ending at $0.03 per token, raising a total of $537 million. The code in the test specifies that WLFI will initially be non-transferable, but it leaves the option to upgrade WLFI for future tradability.

The information in the test code aligns with the draft whitepaper for World Liberty Financial previously reported by CoinDesk. The draft states that internal personnel will receive 70% of WLFI tokens, with the remaining 30% to be sold to the public. At an $1.8 billion valuation, those benefiting from the project, including several members of the Trump family, could potentially receive tokens worth nearly $1.3 billion.

Trump Family's New Crypto Project Hires Web3 Antivirus and PixelPlex Founder Alexei Dulub as Advisor

The Trump family's new crypto project, World Liberty Financial (WLFI), announced on X platform that Alexei Dulub, founder of Web3 Antivirus and PixelPlex, has joined the team as an advisor.

According to WLFI, "Alexei has been a blockchain pioneer since 2013, building custom L1 and L2 to support today's Web3 projects."

Web3 Antivirus is an open-source Web3 extension project that prevents crypto scams and wallet losses, while PixelPlex is a provider of blockchain technology solutions and software development.

Binance Kazakhstan Obtains Comprehensive Regulatory License Approved by AFSA

According to an official announcement, Binance Kazakhstan has obtained a comprehensive regulatory license approved by the Astana Financial Services Authority (AFSA).

Binance Kazakhstan has completed the necessary steps to operate with a full license in Kazakhstan, including a series of internal and external audits and regulatory checks, and will be authorized to operate virtual asset trading facilities and provide a range of virtual asset-related services.

88 US Business Leaders Sign Letter Supporting Harris, Including Ripple CEO, Facebook Co-Founder

According to CNBC, 88 current and former executives from the US business community have expressed support for Vice President Kamala Harris to become the country's president. Signatories include prominent CEOs from several publicly traded companies, such as Aaron Levie of Box, Jeremy Stoppelman of Yelp, and Michael Lynton, Chairman of Snap.

Some signatories appear to be publicly endorsing her for the first time since Harris became the actual Democratic candidate in July. This includes James Murdoch, former CEO of 21st Century Fox, and Chris Larsen, co-founder of the Ripple blockchain platform.

Over a dozen of the signatories made their fortunes on Wall Street, including Tony James, former President and COO of Blackstone Group and founder of Jefferson River Capital, and Bruce Heyman, former Managing Director of Private Wealth Management at Goldman Sachs.

However, the vast majority of the 88 people endorsing Harris are former CEOs of large publicly traded companies, including Indra Nooyi of PepsiCo, Barry Diller of Paramount Pictures, Ken Frazier of Merck, Logan Green of Lyft, Blake Irving of GoDaddy, Laxman Narasimhan of Starbucks, and Dan Schulman of PayPal.

Vitalik: Ethereum Foundation's Current Budget Strategy is to Spend 15% of Remaining Funds Annually

Vitalik stated in a Reddit subthread that the current budget strategy of the Ethereum Foundation (EF) is to spend 15% of the remaining funds annually, which means that the EF will continue indefinitely, but as part of the ecosystem, it will become smaller over time.

Earlier news indicated that Justin Drake of the Ethereum Foundation mentioned that the foundation's financial report will be released soon, estimating that the foundation has approximately 10 years of funding reserves.

OKX to Delist DMAIL, JPG, LITH, STC, REVV Spot Trading

According to an official announcement, OKX will delist DMAIL, JPG, LITH, STC, and REVV spot trading.

The platform will officially delist the following trading pairs on September 13th from 16:00 to 16:30 (UTC+8): DMAIL/USDT, JPG/USDT, LITH/USDT, LITH/USDC, STC/USDT, and REVV/USDT. Deposits for the above tokens were suspended on September 5th at 16:00 (UTC+8). Withdrawal services will continue until December 13th at 16:00 (UTC+8).

Data: Three Hackers Deposit 17,800 ETH Worth Approximately $42.7 Million into Tornado Cash in Three Days

According to Lookonchain monitoring, from September 3rd to 5th, three hackers collectively deposited 17,800 ETH worth approximately $42.7 million into the anonymous mixing protocol Tornado Cash. Among them:

  • The Penpie attacker deposited 9,600 ETH (approximately $23 million).
  • The WazirX attacker deposited 7,200 ETH (approximately $17.3 million).
  • The hacker who previously attacked Distributed Capital founder Bo Shen deposited 1,000 ETH (approximately $2.4 million).

Binance CEO: Zhao Changpeng Permanently Banned from Managing or Operating Binance, But Retains Significant Shareholder Rights

According to Axios, Binance's current CEO Richard Teng confirmed that Binance's former CEO Zhao Changpeng (CZ) has been permanently banned from managing or operating the company. Under an agreement with the US Department of Justice (DOJ), Zhao Changpeng will be prohibited from participating in the company's daily operations after completing his prison sentence on September 29, 2024.

However, as the largest shareholder, Zhao Changpeng retains all shareholder rights and will continue to have a significant influence on the company. Teng stated, "As an investor, if the company's performance does not meet expectations, he has the right to replace or nominate new board members or CEOs, and shareholders can also propose resolutions at any time."

Vitalik: No Plans to Invest in L2 or Other Token Projects in the Future, Will Only Make Donations to Valuable Projects

In a tweet on August 31, Vitalik replied to a tweet stating "Since 2018, I have never sold Ethereum for personal profit," saying, "The above also applies to L2 tokens or other project tokens I hold. All proceeds will be donated to support public goods within the Ethereum ecosystem or more broadly to charity. In the foreseeable future, I also have no plans to invest in L2 or other token projects. My goal in funding projects is to support things I believe are valuable, especially where other parts of the ecosystem may undervalue them. Looking ahead, I plan to achieve this only through donations."

Arthur Hayes: Expects Bitcoin to Fall Below $50,000 This Weekend, Has Shorted

Bitmex co-founder Arthur Hayes posted on X stating "Expects Bitcoin to fall below $50,000 this weekend, has already shorted."

Trump Plans to Appoint Musk to Lead Government Efficiency Committee, Musk Responds "I Look Forward to Serving the United States if Given the Opportunity."

Trump announced on Thursday that if he wins the November election, he will establish a government efficiency committee led by Musk. The committee will develop an action plan to completely eliminate fraud and improper payments within six months, saving the US trillions of dollars while maintaining the same level of government services. Musk wrote on X, "I look forward to serving the United States if given the opportunity. No need for compensation, no need for titles, no need for recognition." (FX168)

Telegram Founder Pavel Durov Promises Significant Platform Regulation Improvements After Being Arrested in France

Telegram founder Pavel Durov spoke out via Telegram after being arrested in France, stating, "The idea that Telegram is some kind of anarchist paradise is absolutely untrue. We delete millions of harmful posts and channels every day. We publish daily transparency reports and have direct channels of contact with NGOs to handle urgent regulatory requests more quickly.

Telegram's user base has rapidly grown to 950 million, leading to growing pains for the platform, making it easier for criminals to abuse the platform. That's why I have made significant improvements to this situation my personal goal. We have already started this process internally and will soon share more details about the progress with everyone."

Pavel Durov Responds to Arrest in France, Prepares to Exit Markets Incompatible with Platform Principles

According to The Block, Telegram founder and CEO Pavel Durov spoke out for the first time via the Telegram platform after being arrested in France. He not only denied the reasons for the arrest but also stated that he is prepared to exit markets that are incompatible with Telegram's principles.

Durov emphasized, "If we cannot reach an agreement with the regulatory authorities of a country on the balance of privacy and security, we are ready to leave that country at any time. We have done so many times before." He cited examples such as Russia and Iran. "We are prepared to leave markets that are incompatible with our principles because we are not in it for the money. Our motivation is to benefit people, defend basic rights, especially in places where these rights are violated."

Earlier reports stated that Durov was arrested at Paris airport and subsequently charged by a French court. The charges include "assisting in the dissemination of child sexual images and other criminal activities, such as drug trading on the messaging app." This arrest is part of a broader investigation into online crime, with Telegram being accused of facilitating money laundering, child pornography, and drug trading through its encryption tools and services. French authorities have released Durov but have requested him to accept "judicial supervision," meaning the Telegram founder must stay in France.

"Recent Outstanding Articles Worth Reading in the Past 24 Hours"

New Trends in Web3 Payments with Financing of Over $200 Million in the Past Two Months, Involving Sequoia, Temasek, and Tether

In the relatively quiet Web3 market recently, Web3 payments have been one of the more active tracks.

Solana, Binance, and Coinbase have all been emphasizing Web3 payments.

Lily Liu, Chair of the Solana Foundation, spoke about the concept of PayFi at major Web3 conferences this year, stating that its market size may far exceed that of DeFi. Binance Research recently released a research report titled "Blockchain Payments: A Fresh Start", detailing the impact of blockchain on global payments. The CEO of Coinbase also announced participation in a new track related to AI encrypted payments.

In the overall sluggish Web3 investment and financing market, Web3 payments have been one of the hottest financing tracks in the past quarter.

According to data from Web3 asset platform RootData, Web3 payments have announced 15 financings in the past two months, with a total financing amount exceeding $200 million, and large financings have been frequent.

ChainCatcher's statistics show that in the past two months, there have been a total of 11 financings exceeding $30 million, with nearly 40% coming from Web3 payments. Among them, stablecoin payment platform Bridge, blockchain payment and settlement technology platform Partior, both received over $50 million in financing.

Report on Web3 Financing in the First Half of 2024: Financing Exceeds $7.5 Billion, Transaction Volume Increases by 58%

In the first half of 2024, financing activities in the Web3 field have significantly increased, with a total of 1,240 projects raising $7.52 billion. Compared to the second half of 2023, capital has increased by 24%, and the number of transactions has increased by 58%. This surpasses the performance of the entire venture capital market, which saw a 16.1% increase in capital but a 16.7% decrease in the number of transactions.

Seed-stage financing in Web3 has shown strong resilience, setting a new high in the first half of 2024, raising a total of $189 million in 80 transactions. Series A financing also showed strong growth, raising a total of $1.56 billion in 77 transactions, almost double that of the second half of 2023.

In the second quarter of 2024, the financing environment for global startups has improved, mainly due to the increase in large financing rounds and the surge in funds in the field of artificial intelligence, which doubled to reach $24 billion. Despite market volatility, the overall trend shows a gradual recovery, especially in the seed and Series A stages.

The growth in investments in artificial intelligence and Web3 indicates investor confidence in these high-growth areas, driving the stability and improvement of the market environment in 2024. This trend suggests a potential upward trend in the coming quarters, especially in early-stage transactions.

First Response from Telegram Founder After Arrest: We Are Defending Basic Rights, Not Chasing Money

On August 25, Pavel Durov, founder and CEO of Telegram, was detained in Paris, France, and faced multiple charges including fraud, money laundering, and terrorism. On August 29, Pavel Durov was released after paying a €5 million bail, but was not allowed to leave France. For a complete overview of the events: "Real-time Updates | South Korea Investigates Telegram; Cryptocurrency-related Business Accounts for 40% of Telegram's Total Revenue."

After a week of silence, Durov made his first statement this morning in his official personal channel in response to the Paris detention incident. The following is his full statement:

"Thank you for your support and concern!"

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