Compilation: Fairy, ChainCatcher

Important Information:

• DL News: RootData Launches Crypto Project Heat Ranking, Helping Investors Make More Scientific Decisions Based on Over 4.3 Million User Behaviors
• Zhao Changpeng Says Will Continue to Invest in Blockchain/Decentralized Technology, Artificial Intelligence, and Biotechnology
• FTX Expected to Distribute $16 Billion to Creditors in Q4, Hearing on October 7th May Determine Whether the Plan Can Be Implemented on Schedule
• Fully Homomorphic Encryption Network Mind Network Completes $10 Million Pre-A Round of Financing, with Participation from Animoca Brands
• Former Chinese Vice Minister of Finance: Significant Changes in US Cryptocurrency Policy This Year, We Need to Pay Attention to Research and Development of Cryptocurrencies
• Listed Company Remixpoint Recently Acquires Cryptocurrency Assets Worth Approximately $5.27 Million

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

DL News: RootData Launches Crypto Project Heat Ranking, Helping Investors Make More Scientific Decisions Based on Over 4.3 Million User Behaviors

According to DL News, the cryptocurrency data platform RootData has announced the official launch of version 3, revealing real attention trends based on multi-dimensional data from 4.3 million user behaviors.

The core function of version 3 is the top 100 ranking of popular crypto projects. This popularity index is based on weighted calculations of user behaviors such as searches, clicks, and votes from RootData users, as well as multi-dimensional data from X platform, aiming to restore the true popularity of crypto projects and help users improve the accuracy of investment decisions.

Since its launch, RootData has accumulated over 2 million independent users. Its data has been widely cited by mainstream media and well-known cryptocurrency influencers such as The Wall Street Journal, CoinDesk, and Cointelegraph.

In addition, RootData received a $1.25 million seed round financing led by NLVC in April. Listed company Boyaa Interactive (00434.hk), Bonfire Union Ventures (fund of Mask Network), Skyland Ventures, Orbiter Finance founder Gavin, and 0xScope co-founder Jackson also participated in the investment.

CCData: Fed's Expected Interest Rate Cuts This Year Could Result in a Combined $15.625 Billion Reduction in Stablecoin Interest Income

According to Cryptonews, the recent decision by the Federal Reserve to cut interest rates for the first time since March 2020 is expected to affect the income flow of five major centralized stablecoins. According to a report released by CCData on September 27, these stablecoins collectively hold nearly $125 billion in US Treasury bonds, and each 50 basis point (bps) rate cut could result in a loss of approximately $625 million in interest income. The report shows that US Treasury bonds account for 80.2% of the main stablecoin reserves.

Data from the Chicago Mercantile Exchange's FedWatch tool shows that the market expects a total of 75 basis points in interest rate cuts by the end of 2024, including a 50 basis point cut in November and another 25 basis point cut in December. If these predictions come true, stablecoins could face an additional income loss of $9.375 billion, bringing the potential total loss caused by the Fed's loose policy to $15.625 billion.

Among the affected stablecoins, Tether's USDT holds the largest share of US Treasury bond-backed reserves, totaling a high of $93.2 billion, including US Treasury bonds and repurchase agreements. This is followed by Circle's USD Coin (USDC), which holds $28.7 billion in US Treasury bonds through the Circle Reserve Fund. Other stablecoins, such as First Digital USD (FDUSD), PayPal USD (PYUSD), and TrueUSD (TUSD) hold smaller positions in US Treasury bonds, at $1.83 billion, $634 million, and $502 million, respectively.

Despite these potential financial setbacks, the stablecoin market has shown resilience. According to CCData, the total market value of stablecoins increased by 1.50% in September, reaching $172 billion, marking 12 consecutive months of growth.

Zhao Changpeng: Will Continue to Invest in Blockchain/Decentralized Technology, Artificial Intelligence, and Biotechnology

Zhao Changpeng posted on X platform, stating, "The food tastes great, I can eat more than one piece of fruit every day, it's really luxurious. I want to thank everyone for their support. This means a lot to me and keeps me strong in the darkest moments."

Some quick updates/thoughts: Giggle Academy is progressing well and will become an important part of my life in the coming years. I will continue to invest in blockchain/decentralized technology, artificial intelligence, and biotechnology. I am a long-term investor, concerned about impact rather than returns. I will also dedicate more time and funds to charity (and education). I have some rough ideas. Still working on my book. I think I'm about 2/3 done. Writing a book is much more challenging than I expected, but I will persevere.

FTX Expected to Distribute $16 Billion to Creditors in Q4, Hearing on October 7th May Determine Whether the Plan Can Be Implemented on Schedule

According to Forbes, FTX's expected return of $110-160 billion to creditors in the fourth quarter of 2024 may provide a significant boost to the cryptocurrency market, especially for Bitcoin, SOL, and Solana network cryptocurrencies. Although the specific date is unclear, FTX proposes that the distribution will take place within 60 days after the restructuring plan takes effect.

Currently, the next hearing on the restructuring plan is scheduled for October 7th. If approved, FTX will have 60 days to distribute the assets to creditors, meaning the returned cash will reach the hands of previous cryptocurrency buyers before December 7th. A large portion of this cash may remain in the cryptocurrency ecosystem, as creditors may reinvest the funds in their favorite tokens or ETFs.

However, there are still some risks that could disrupt this positive event. Firstly, court delays may further extend the date for returning the funds. Additionally, some FTX creditors are currently dissatisfied with the settlement plan (specifically the provision for cash-only returns).

Former Chinese Vice Minister of Finance: Significant Changes in US Cryptocurrency Policy This Year, We Need to Pay Attention to Research and Development of Cryptocurrencies

• The 2024 Tsinghua Wudaokou Chief Economist Forum was held in Beijing on September 28. Zhu Guangyao, former Deputy Minister of the Ministry of Finance, attended and delivered a speech. Zhu Guangyao called for attention to the development of cryptocurrencies, stating, "It does have a negative impact, and we must fully recognize its risks and the harm it poses to the capital market, but we must study the latest international changes and policy adjustments, as it is a crucial aspect for the development of the digital economy."

• Zhu Guangyao reviewed the development of cryptocurrencies, stating that for over a decade, the United States has always believed that cryptocurrencies have a huge destructive impact on international anti-money laundering and counter-terrorism financing. In addition, the drastic fluctuations in the value of cryptocurrencies have a huge impact on the international financial market. However, this year, there has been a significant evolution in the US policy.

• Zhu Guangyao mentioned that the Trump campaign platform explicitly included cryptocurrencies, and he publicly stated, "We must embrace cryptocurrencies, otherwise China will replace us." The US Securities and Exchange Commission also approved the listing of 11 Bitcoin ETFs on the stock and futures markets. In emerging market countries and BRICS countries, Russia, South Africa, Brazil, and India have also taken action.

• The fully homomorphic encryption network Mind Network announced the completion of a $10 million Pre-A round of financing, with major investors including Animoca Brands, Arkstream Capital, Cogitent Ventures, G Ventures, MH Ventures, Master Ventures, Moonhill Capital, SwissBorg Ventures, and IBC Group. This round of financing also attracted participation from well-known angel investors, including Mike Silagadze, CEO of Ether.fi, and prominent figures in the crypto field such as Mario Nawfal, Mr. Block, and Kyle Chassé.

• Vitalik, co-founder of Ethereum, released an article titled "Making Ethereum's Alignment Clear and Visible," discussing the issue of balancing the Ethereum client team, researchers, Layer 2 teams, application developers, and local community groups to ensure that all these projects collectively build a unified Ethereum ecosystem. He proposed the concept of "Ethereum alignment," which includes value alignment, technical alignment, and economic alignment.

• Remixpoint, a listed company in Japan, recently disclosed details of its latest round of cryptocurrency investments, totaling approximately $5.27 million. The investment includes the purchase of 64.4 BTC, 130.1 ETH, 2,260.5 SOL, and 12,269.9 AVAX.

• According to FTX creditor Sunil Kavuri, the latest revised bankruptcy documents indicate that FTX creditors may only be able to recover 10-25% of their cryptocurrencies.

• The US Bitcoin spot ETF has seen seven consecutive days of inflows, with Friday's inflow reaching a near four-month high, totaling $612.1 billion, the highest since July 29.

Vitalik's New Article: "It's Time to Align the Entire Ethereum Ecosystem"

In the Ethereum ecosystem, balance is the most important governance challenge—or more accurately, it is the integration of decentralization and cooperation. The strength of this ecosystem lies in the wide range of individuals and organizations—client teams, researchers, Layer 2 network teams, application developers, and local community groups—all striving towards their respective visions of what Ethereum could become. The main challenge is to ensure that all projects collectively build an Ethereum ecosystem, rather than 138 incompatible territories.

To address this challenge, many in the Ethereum ecosystem have proposed the concept of "Ethereum alignment." This may include value alignment (e.g., open source, minimizing centralization, supporting public goods), technical alignment (e.g., collaborating with ecosystem-wide standards), and economic alignment (e.g., using ETH as a token where possible). However, this concept has historically been poorly defined, leading to the risk of social control: if alignment means having the right friends, then "alignment" as a concept has failed.

To address this issue, I believe that the concept of alignment should be made clearer, breaking it down into specific attributes that can be represented by specific metrics. Everyone's list will be different, and the metrics will inevitably change over time. However, I believe we already have a solid starting point.

RootData Launches the First Web3 Project Popularity Ranking to Help Investors Capture the Most Consensus Projects

The essence of most investments in the Web3 field is attention investment.

Crypto KOL @redphonecrypto once stated that the ability of a token to attract attention is more important than other indicators. This bull market has once again demonstrated the importance of memes over "value coins."

However, in the current environment of dispersed attention and noise, it is not easy to judge the real direction of attention. Users are often misled by marketing information from platforms like X and false TVL data from project parties.

The Web3 market also lacks more authoritative data analysis platforms to guide users in attention investment.

To address these pain points, Web3 asset data platform RootData has launched the first "Web3 Hot Project Ranking." This popularity ranking, based on 4.3 million real user behavior data, helps users capture the real pulse of attention and improve the accuracy of their investment decisions.

Today's Meme Perspective: Enchanting Dog + Cute Kitten, Thousandfold Increase in Half a Day?

Today is September 29, 2024, a regular rest (or make-up) day, and the on-chain market has not rested either. From last night to this morning, diligent on-chain players have made new gains, with several new meme concepts: the new kitten caramelo of the dog coin $Doge founder Shibetoshi Nakamoto, the enchanting dog Point of dog…

What are these new concepts, and what other dogs with the same name have emerged? Let's take stock!

Founder's Handwriting: After Maker Transforms into Sky, What's Next?

Sky was officially launched 8 days ago, and it feels like we have entered a new era.

On September 18, Sky launched USDS and SKY tokens, and activated functions such as "USDS Savings Rate" and "USDS Token Rewards," allowing people to experience the Sky ecosystem for the first time. Many different front-end operators have provided related services, including sky.money, summer.fi, and defisaver.com.

In these 8 days, the new tokens have already gained significant adoption. The supply of USDS has exceeded 570 million, with a net inflow of 200 million USD.

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