Headlines
Trump uses BTC for the first time for cryptocurrency transactions
Odaily Planet Daily News: Republican presidential candidate Donald Trump used Bitcoin to purchase a cheeseburger at PubKey Bar in New York City, marking his first cryptocurrency transaction. Trump called it a "historic moment." The official X account of PubKey Bar released this news, mentioning that the transaction occurred at block height 861871. Subsequently, Trump distributed the burgers to bar customers, calling them "crypto burgers." Earlier this week, Trump assisted in launching a decentralized finance project, World Liberty Financial, which his sons have been developing. (The Block)
Ethereum developers confirm plans to split Pectra upgrade into two executions
Odaily Planet Daily News: Ethereum developers agreed on Thursday to split the upcoming hard fork, Pectra, into two batches to make large-scale upgrades less cumbersome and reduce the risk of errors or mistakes. It is reported that the first software package may be released as early as February 2025. The first part of Pectra will include Ethereum Improvement Proposals (EIPs), including EIP-7702, aimed at improving wallets. The second part will see EIPs aimed at upgrading the Ethereum Virtual Machine (referred to as EOF). (Coindesk)
Industry News
Odaily Planet Daily News: According to SoSoValue data, the Bitcoin spot ETF saw a total net outflow of $52.827 million yesterday (September 18, US Eastern Time).
Yesterday, Grayscale's (GBTC) ETF saw a net outflow of $8.1347 million, bringing GBTC's historical net outflow to $20.069 billion.
Grayscale's Bitcoin Mini Trust ETF (BTC) saw a net inflow of $2.6634 million, bringing the total historical net inflow of Grayscale Bitcoin Mini Trust BTC to $385 million.
As of the time of publication, the total net asset value of the Bitcoin spot ETF is $54.846 billion, with an ETF net asset ratio (market value as a percentage of total Bitcoin market value) of 4.61%, and a historical cumulative net inflow of $17.444 billion.
Odaily Planet Daily News: According to SoSoValue data, the Ethereum spot ETF saw a total net outflow of $9.738 million yesterday (September 18, US Eastern Time).
Yesterday, Grayscale's Ethereum Trust ETF (ETHE) saw a net outflow of $14.6629 million, bringing ETHE's historical net outflow to $2.768 billion. Grayscale's Ethereum Mini Trust ETF (ETH) saw a net outflow of $0.00, bringing the total historical net inflow of Grayscale Ethereum Mini Trust ETH to $263 million. The Ethereum spot ETF with the highest net inflow yesterday was BlackRock's (BlackRock) ETF ETHA, with a net inflow of $4.9249 million, bringing ETHA's total historical net inflow to $1.035 billion.
As of the time of publication, the total net asset value of the Ethereum spot ETF is $6.302 billion, with an ETF net asset ratio (market value as a percentage of total Ethereum market value) of 2.25%, and a historical cumulative net outflow of $616 million.
Binance CEO: Working group is working hard to rescue Tigran Gambaryan, whose health is in jeopardy
Odaily Planet Daily News: Binance CEO Richard Teng stated that his team has been working "day and night" to bring back Tigran Gambaryan, a detained executive in Nigeria, to the United States, as his health is deteriorating. "We have repeatedly called on the Nigerian government to release Tigran so that he can return home and receive the proper treatment he needs."
"There is no need to detain our employees. He has been unjustly and unfairly detained," Teng said at the TOKEN2049 conference held in Singapore on September 19.
"This is painful for all of us," he said, "especially for his family. For Binance, this is our top priority. We have an internal working group working around the clock, looking for different avenues from legal to political (to help Tigran return home)."
Teng hopes that the United States can declare Gambaryan's detention as illegal to expedite the process. He added that Binance is also trying to appeal to the Nigerian government to release Tigran on humanitarian grounds.
He also mentioned that since being detained in Nigeria, Gambaryan has suffered two bouts of malaria and pneumonia. His deteriorating health even led to him fainting in court in May. (Cointelegraph)
Odaily Planet Daily News: Konstantin Richter, founder of blockchain infrastructure company Blockdaemon, stated that the company may go public in 2026. According to the Blockdaemon website, the US-based company, founded in 2017, has secured over 400 institutional clients, with supporters including Goldman Sachs, JPMorgan, and Citi Ventures Inc.
Richter stated that Blockdaemon's latest valuation is approximately $3.3 billion. He mentioned on Wednesday that Hong Kong may be more suitable than the United States for listing, as the cryptocurrency regulatory environment in the latter is "really bad." He added that regardless of the outcome, the regulatory environment in the United States will improve after the November US election. He also mentioned that Asia is driving the growth of its business, and the company may double the size of its team in the region within a year.
According to a press release, Blockdaemon's post-financing valuation in a $207 million round in 2022 was $32.5 billion, with investors including SoftBank Vision Fund 2. (Bloomberg)
Project News
Solana Mobile Chapter 2 renamed Solana Seeker, planned for release in 2025
Headlines
Odaily Planet Daily News: Solana Mobile has officially announced detailed information about the new generation Web3 smartphone, Solana Seeker. The device, originally named "Chapter Two," is planned for release in 2025 and will offer multiple improved features. Seeker has received over 140,000 pre-orders, and the Solana mobile development community has actively embraced Seeker, developing numerous exclusive dApps and features for the device. The core features of Seeker include a built-in self-custody Seed Vault wallet, Solana Mobile dApp store, Seeker Genesis Token (a soul-bound NFT), and upgraded hardware configuration. Solana co-founder Anatoly Yakovenko stated that Seeker will offer a higher standard than Saga at a more affordable price, aiming to become the most defining Web3 mobile device next year.
Sonic Labs launches Sonic Gateway, a decentralized, trustless bridge between Ethereum and Sonic
Odaily Planet Daily News: According to official sources, Sonic Labs has announced the launch of Sonic Gateway, a decentralized, trustless bridge between Ethereum and Sonic that eliminates custody risks. Sonic Gateway uses Sonic's validator network for secure ERC-20 token transfers, ensuring users retain full control of their funds. Transfers from Ethereum to Sonic take a maximum of 10 minutes, while transfers from Sonic to Ethereum take a maximum of 1 hour. Additionally, its fault-tolerant mechanism allows users to retrieve assets on Ethereum in case of a 14-day Sonic Gateway failure.
Odaily Planet Daily News: According to community reports, the associated wallet of Banana Gun appears to have been attacked, resulting in the theft of funds from some users. The Banana Gun team stated in their official TG channel, "We are investigating this issue and have temporarily suspended bot services." Community member yannickcrypto.eth posted, "So far, there have been 36 victims on the mainnet who have lost nearly 563 ETH ($1.4 million). I won't say that Banana Gun itself has been hacked, as the number of victims is not enough." (The Block)
Privy introduces native account abstraction feature
Odaily Planet Daily News: Web3 identity verification and private key management tool Privy has announced the introduction of a native account abstraction feature, allowing users to automatically configure smart wallets and unlock features such as gas fee delegation and transaction batching.
World Liberty Financial: Important announcements to be released this week and next week
Odaily Planet Daily News: The Trump family's cryptocurrency project, World Liberty Financial (WLFI), announced on X platform, "Thank you for the overwhelming feedback brought by X Spaces. The support and recognition from the audience and industry leaders are indeed overwhelming. Please stay tuned as several important announcements are planned for this week and next week."
UTXOSwap plans token airdrop in the fourth quarter
Odaily Planet Daily News: UTXOSwap, a Bitcoin network Layer 2 RGB++ DEX project, posted on X platform, revealing its roadmap and plans to conduct an airdrop for early LP providers in the fourth quarter of this year.
Yuga Labs co-founder: Workshop team releases first ApeChain native product, Top Trader
Odaily Planet Daily News: According to Yuga Labs co-founder Garga.eth (Greg Solano), the Workshop team has released the first ApeChain native product, Top Trader. This is an on-chain trading simulation game that allows users to trade with 1000x leverage without real financial risk. Top Trader integrates multiple tools, such as Ape Portal to support cross-chain payment for buying fees, Yuga ID for seamless account abstraction, and gas-sponsored transactions to enhance user experience, and manages tournament rewards through the restart protocol.
Regulatory Developments
Fed Chair Powell: Fed will speed up, slow down, or pause rate cuts as needed
Odaily Planet Daily News: Federal Reserve Chair Powell stated at a press conference that there are no signs of the Fed acting hastily. If appropriate, the Fed can speed up, slow down, or pause rate cuts. If the economy remains robust, we can slow down the pace of rate cuts. Similarly, if the labor market deteriorates, we can also respond. Our forecasts are not plans or decisions, and we will adjust policies as needed. Taking into account risks, we have lowered rates by 50 basis points today, and this adjustment will help maintain the strength of the economy and the labor market. Powell also stated that if the Fed had seen the non-farm payroll report released a few days after the July decision, it might have cut rates for the first time at the July meeting. The July non-farm payroll report showed weakness in the US labor market. Powell pointed out that the Fed remains firmly focused on its dual mandate. The overall US economy is strong, and the labor market has cooled from its previous overheated state. Our decision today reflects increasing confidence that the strength of the labor market can be sustained, and the Fed is committed to maintaining a strong economy. The unemployment rate has risen slightly but remains low. The labor market environment continues to cool, and the labor market is not the source of high inflationary pressures. The downside risks to employment have increased.
ECB board member Centeno: ECB may have to accelerate rate cuts
Odaily Planet Daily News: Portuguese central bank governor and ECB board member Centeno stated in an interview with Politico that the ECB may have to accelerate the pace of rate cuts, as data released since last week's rate cut indicates that economic growth and inflation may be lower than the ECB's new forecasts. "Given where we are in the monetary policy cycle, we really have to minimize the risks of rates being lower than expected, as this is the main risk," Centeno said. Centeno's remarks are the clearest indication to date that a rate cut in October is still possible. The ECB is grappling with a question of how quickly to ease policy in a situation where the economy is struggling to gain momentum but also struggling to contain inflation. ECB President Lagarde hinted last week that there would be no further action before December, at the ECB's second rate cut of the year. Although ECB Chief Economist Lane confirmed on Monday that policymakers should "keep their options open" for an October rate cut, hawks on the Governing Council emphasized that "a significant shift" would be needed to consider consecutive rate cuts. (Jin10)
Investment and Financing
Odaily Planet Daily News: According to official sources, Web3 security company CertiK announced a strategic upgrade of its products and services at the Token 2049 event, aiming to provide security protection covering the entire lifecycle of projects. This upgrade includes the launch of free community security tools such as Token Scan and Wallet Scan to help users effectively protect their assets. Additionally, CertiK Ventures announced the establishment of a $45 million fund dedicated to supporting high-potential Web3 projects. As a Web3 security unicorn with a valuation of $2 billion, CertiK has provided security services to over 4,700 projects in more than 150 countries and regions globally.
Solana DeFi platform Drift completes $25 million Series B financing, led by Multicoin Capital
Odaily Planet Daily News: Solana ecosystem DeFi platform Drift announced the completion of a $25 million Series B financing, led by Multicoin Capital, with participation from Blockchain Capital, Primitive Ventures, and Folius Ventures. The new financing brings Drift's total funding to $52.5 million. The company plans to double its staff from 25 to 50 next year. Drift Labs co-founder Cindy Leow stated that their goal is to build a set of financial service tools on Solana, including spot and derivative trading, as well as prediction markets, to establish Drift as the "Robinhood of the cryptocurrency space." She added that about half of the leadership team at Drift are women. (Fortune)
Odaily Planet Daily News: Solana developer platform Helius announced the completion of a $21.75 million financing round, with participation from Haun Ventures, Founders Fund, Foundation Capital, 6th Man Ventures, Chapter One, and Spearhead.
Odaily Planet Daily News: Brightband, a startup founded by a former Google executive aiming to use artificial intelligence to improve weather forecasting, announced that it has secured $10 million in Series A financing, led by Prelude Ventures. Other investors include Future Back Ventures under Bain Capital and Slack co-founder Cal Henderson. The company, launched this summer by former Google executive Julian Green and three scientists, aims to develop a paid product and an open-source AI forecasting model based on original weather observations. Brightband's co-founder and Oklahoma University professor of computer science and meteorology, Amy McGovern, stated that Brightband will initially focus on predicting extreme weather events, including heatwaves and tropical cyclones, several days in advance, compared to traditional forecasts. (Jin10)
Aptos receives strategic investment of millions of dollars from Foresight Ventures
Odaily Planet Daily News: Foresight Ventures announced a strategic investment of millions of dollars in L1 blockchain Aptos. According to a press release, the funds will be used to accelerate product development, enhance liquidity, and support the development of Aptos' scalable and upgradable L1 blockchain infrastructure. Aptos CTO Avery Ching noted that this partnership will help expand the blockchain's influence in the Asia-Pacific region while promoting the development and innovation of Web3 applications. (The Block)
Odaily Planet Daily News: Bitcoin decentralized verification infrastructure Bool Network announced the completion of a $2 million seed financing round on X, with participation from Antalpha Ventures, ViaBTC Capital, Spark Digital Capital, Cogitent Ventures, Web3Port, Satoshi Lab, D11 Labs, and Sharding Capital. The new financing will be used to further develop Bool Network's decentralized infrastructure, with a focus on unlocking the potential of BTCFi. The integration of DHC technology and Taproot enables Bitcoin holders to seamlessly interact with DeFi applications (including stablecoins, re-staking, and bridging) while maintaining self-custody and ensuring asset security.
Tether strategically invests $1.5 million in Sorted Wallet
Odaily Planet Daily News: According to official sources, Tether announced a strategic investment of $1.5 million in Sorted Wallet, a platform that provides access to cryptocurrencies for users in emerging markets, aiming to enhance financial inclusion in Africa and South Asia.
SunPump strategically invests in SunDog to empower the TRON Meme ecosystem
Odaily Planet Daily News: SunPump announced on the official X platform that it has made a strategic investment in SunDog, with the specific amount yet to be disclosed. Since its launch, SunDog's market value has surpassed $360 million within a month. Currently, SUNDOG is listed on 17 major exchanges, with a 24-hour trading volume of $180 million, and the liquidity pool size on decentralized exchanges has reached $5.27 million.
Voices
BlackRock: Market volatility may increase after the Fed's 50 basis point rate cut
Odaily Planet Daily News: In a report, the head of BlackRock Investment Research, Boyvin, stated that the Federal Reserve's decision to cut rates by 50 basis points may boost the market in the short term, but if US inflation and economic growth do not meet the Fed's expectations, the risk of increased market volatility in the coming months will also rise. "Given the extremely uncertain outlook and the divergence of opinions before the Fed's 'regulatory period,' the near-unanimity of the decision may be more surprising than dissenting voices." LSEG Refinitiv data shows that the market expects the Fed to cut rates by an additional 71 basis points in 2024. "We still believe that the market's expectations for rate cuts will ultimately be disappointing, and instead, positive news will come from resilient economic growth," Boyvin said. (Jin10)
Odaily Planet Daily News: Chris Aruliah, the institutional director of ByBit, has a different view on the impact of interest rate cuts on the crypto market. Aruliah wrote in an email statement, "Softening economic indicators and geopolitical complexities leading to a global economic slowdown are weakening investor sentiment. Therefore, while the Fed's 0.5% policy rate cut may boost the cryptocurrency market in the short term, it is crucial to remain vigilant about the potential challenges posed by economic uncertainty and market volatility."
Arthur Hayes, co-founder of BitMEX, stated in an interview that he believes an overall rate cut is unnecessary, and a 50 basis point rate cut will trigger a temporary market rebound but ultimately expose deeper issues in the global financial system, leading to further price declines. He said, "At a high level, I don't think they should be raising rates. I believe the U.S. economy is quite strong. If you look at the GDP data for the past eight or nine quarters, you'll see that it has been consistently growing. If they decide to continue cutting rates, inflation will accelerate into the fourth quarter." (CoinDesk)
SkyBridge Founder: Some cryptocurrency supporters are trying to push Harris away from Gary Gensler
Odaily Planet Daily News: Anthony Scaramucci, founder and managing partner of SkyBridge Capital, stated that some U.S. cryptocurrency supporters are currently working with Vice President Kamala Harris to push the Democratic Party away from Senator Elizabeth Warren and SEC Chairman Gary Gensler. Anthony Scaramucci suggested that this could lead to more positive legislation and clearer regulations on stablecoins and a broader cryptocurrency regulatory framework. The potential election of former President Donald Trump could trigger an "avalanche" of opposition, which could pose a "danger" to reaching bipartisan consensus on cryptocurrency policy in the United States. (The Block)
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