Today's news tips:
Fox reporter: US SEC includes cryptocurrency in its 2025 review priority list
Market News: Nigerian government drops charges against Binance executives
Bill Gates privately says he donated $50 million to Harris
Bitcoin mining difficulty increased by 3.94% to 95.67 T this morning
Arkham: Tesla’s 11,509 BTC have not been sold
Regulatory News
According to Cointelegraph, Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), sent a "Sweet Sixteen" blessing to the 16th anniversary of the release of the Bitcoin white paper in an interview with Bloomberg. In the interview, he said that the SEC will continue to maintain its current "law enforcement and supervision" strategy for crypto assets, emphasizing the importance of protecting investors and the healthy development of the market.
Gensler declined to comment on Trump's remarks that he plans to replace him if he is re-elected as president in 2024. The day before the interview, the SEC's regulatory department listed crypto assets as a key regulatory target in 2025. Although there is controversy over Gensler's regulatory approach, he has not revealed any intention to change the current policy.
The Bitcoin white paper was released on October 31, 2008, and this year will mark its 16th anniversary.
Fox reporter: US SEC includes cryptocurrency in its 2025 review priority list
Fox Business reporter Eleanor Terrett wrote on the X platform: "Although no major cryptocurrency players registered with the U.S. Securities and Exchange Commission (SEC) in 2024, the commission still included cryptocurrencies in its 2025 review focus list. The only two crypto assets I can think of that the SEC has interacted with in a regulatory role (rather than an enforcement role) are Bitcoin and Ethereum ETFs. Will the review focus on these ETFs and the companies that work with them?"
Market News: Nigerian government drops charges against Binance executives
According to Tree News citing Bloomberg, the Nigerian government dropped charges against Binance executive Tigran Gambaryan.
AI & NFT
Artificial intelligence company Anthropic announced that the upgraded version of Claude 3.5 Sonnet has launched a new "Computer Use" function, which enables AI to operate computers like humans and complete complex tasks. This technology is currently in the public beta stage and supports tasks through screen interaction, mouse operation and text input. Anthropic also released a new model Claude 3.5 Haiku, which processes code tasks at a faster speed and higher cost performance, and will be launched at the end of this month.
NFT platform Magic Eden adds support for BeraChain and ApeChain
According to The Block, NFT platform Magic Eden has added support for BeraChain and ApeChain, bringing the total number of supported blockchains to nine. The platform plans to make it the tenth supported Layer 1 network after the Monad testnet is launched. BeraChain features a "liquidity proof" consensus mechanism, while ApeChain was developed by Yuga Labs to support the ApeCoin ecosystem. Magic Eden aims to support ten blockchains by the end of the year to expand the multi-chain ecosystem.
Project News
Bill Gates privately says he donated $50 million to Harris
The New York Times reported that Bill Gates, who has been out of politics for decades, has privately stated that he recently donated about $50 million to Future Forward, a nonprofit supporting Vice President Harris' campaign. The donation was originally made in secret. According to a person familiar with Gates' thinking, in private calls with friends and others this year, he has expressed concerns about the prospect of Trump being re-elected as president, although he emphasized that he can work with any candidate. Gates praised the work done by the Biden-Harris administration on climate change. According to two sources, Gates' charitable organization, the Bill & Melinda Gates Foundation, is very worried that funding for family planning and global health projects may be cut if Trump is elected.
According to Radiant Capital's official reminder, all users who have interacted with Radiant need to take immediate action to revoke the authorization of the relevant contracts. Radiant warned that if the authorization is not revoked in time, user funds may be at risk of being stolen. Users can remove permissions by visiting revoke.cash to ensure the safety of their assets.
Radiant said the team is working hard to track and freeze the stolen funds and is working closely with security experts and law enforcement agencies to prevent further losses.
Across proposes to limit token supply after LayerZero founder raises issues with its contract
According to The Block, after being criticized by LayerZero Labs CEO Bryan Pellegrino, Across Protocol co-founder Hart Lambur proposed on Monday evening to permanently limit the supply of ACX tokens to 1 billion. If the proposal is approved by the Across community, Across Governance will also give up its ownership of ACX tokens and set them to 0x0 - preventing any future changes to the token supply through minting or destruction.
Previously, Pellegrino pointed out that there were "serious problems" with the Across token contract. However, this move was opposed by the community, who believed that this was more of a transparency issue than a security vulnerability. Pellegrino stated: "You mistakenly exposed the internal private function (used to destroy tokens) written by OpenZeppelin in its ERC-20 token implementation and gave it to your contract owner-this allows you to withdraw (destroy) tokens from any wallet at any time and arbitrarily return any account to zero." He also claimed that the cross-protocol and UMA protocol contracts can mint tokens indefinitely, and suggested that in order to solve this problem, ownership should be transferred to an immutable smart contract to prevent the minting of tokens exceeding the total supply, not allow destruction, and not transfer ownership.
Lambur initially refuted Pellegrino’s allegations, but later admitted that while Pellegrino was wrong to believe that its ERC-20 implementation had serious vulnerabilities, “the design choices were wrong,” adding that the proposal was made in the “spirit of decentralization and transparency.” The proposal is currently undergoing a temperature check vote, with 99.5% in favor of setting a supply cap.
Aurum Equity Partners to Launch $1 Billion Tokenized Equity and Debt Fund on XRP Ledger Blockchain
Aurum Equity Partners, a private equity firm, has launched the world's first $1 billion tokenized fund combining equity and debt. The fund uses Zoniqx's asset tokenization technology and XRP Ledger blockchain to promote innovation in AI, IoT and cloud infrastructure. The project will establish data centers in the United States, the United Arab Emirates, Saudi Arabia, India and Europe to increase investment liquidity and transparency through tokenization. Aurum has partnered with Zoniqx to demonstrate the practical application of blockchain technology in traditional financial markets and help the digital transformation of global asset management.
Coinbase International will launch Scroll perpetual futures contracts
Coinbase International Station announced on the X platform that Coinbase International Station and Coinbase Advanced will add support for Scroll perpetual futures contracts. The SCR-PERP market is expected to open at or after 20:30 on October 22, 2024, Beijing time.
According to CoinDesk, MakerDAO is discussing whether to abandon the Sky brand due to the lukewarm market response after the rebrand. Despite the successful launch of the USDS stablecoin, the SKY token has performed poorly, falling 23% recently, far below the performance of the CoinDesk 20 Index. The community plans to hold a formal governance vote on November 4 to decide whether to restore the original Maker brand, maintain the Sky brand, or rebrand. MakerDAO founder Rune Christensen said that the community still highly recognizes the stability and trust of the Maker brand.
Binance to Delist IDRT, KP3R, OOKI, and UNFI on November 6
Binance announced that it will delist and stop the spot trading pairs of the following tokens at 11:00 (GMT+8) on November 6, 2024: Rupiah Token (IDRT), Keep3rV1 (KP3R), Ooki Protocol (OOKI), and Unifi Protocol DAO (UNFI). The affected trading pairs include KP3R/USDT, OOKI/USDT, UNFI/BTC, UNFI/TRY, UNFI/USDT, and USDT/IDRT.
Binance will remove spot trading pairs such as ALGO/FDUSD and CHR/ETH
Binance announced that it will delist and stop trading the following spot trading pairs at 11:00 (ET) on October 25, 2024: ALGO/FDUSD, CHR/ETH, DGB/BTC, GMX/BTC.
Ethereum co-founder Vitalik Buterin published his latest article "The Future of Ethereum Protocol (Part 4): The Verge", which stated that Ethereum plans to improve blockchain verification efficiency through the "Verge" project. Verge initially focused on stateless verification of Verkle trees, and has now expanded to comprehensive resource optimization, including the use of STARK technology to verify the execution layer and consensus layer of the chain. This design will enable ordinary devices such as mobile phones to run fully verified nodes, which is expected to lower the hardware threshold. The current project also focuses on increasing verification speed, reducing data storage requirements, and the possibility of addressing future quantum computer threats.
Andre Cronje: Sonic spent $35.6 million on R&D, ecology, legal and compliance in the past year
Sonic Labs CTO Andre Cronje posted on the X platform that the cost of running a Layer 2 or application chain is about $13.2 million, including prepaid and annual expenses such as oracles, stablecoins, RPC services, governance, etc. Cronje also listed the cost centers of the Sonic project in the past year, totaling $35.6 million, mainly including R&D, ecosystem construction, legal and compliance expenses. He pointed out that these costs do not include exchange listing fees, indicating that no related operations have been carried out this year.
Binance completes USDC integration on zkSync Era network and opens deposit and withdrawal services
Binance has now completed the integration of USDC on the zkSync Era network and opened deposit and withdrawal services.
Chain detective ZachXBT mentioned in a comment on the SlowMist chain security tracking platform MistTrack’s tweet, “I haven’t seen publicly reported numbers anywhere before, but I estimate that social engineering/phishing scams impersonating Coinbase customer support have caused users to lose around $100 million to $150 million in the past year.”
Survey: Nearly 35% of tokens launched in South Korea in the past 7 years have been delisted
According to Seoul News, a survey by the Financial Supervisory Service of South Korea showed that nearly 35% of the virtual assets listed on South Korea's top five crypto exchanges (Upbit, Bithumb, Coinone, Korbit and Gopax) have been delisted in the past seven years from January 2018 to August 2024. Since the rise of cryptocurrency trading in 2018, these five exchanges have listed a total of 1,482 cryptocurrencies, of which 517 have been delisted. The average lifespan of these virtual assets on the platform is about 748 days, or a little over two years. The report also pointed out that 54% of the delisted assets were removed within the first two years after listing.
Financing News
DeFi platform Azura completes $6.9 million seed round of financing, led by Initialized
According to Fortune magazine, DeFi platform Azura officially launched on Tuesday after raising $6.9 million in a seed round led by Initialized. Other investors include Volt Capital, Winklevoss Capital, Solana co-founder Raj Gokal, etc. The funds will be used to expand the scale of applications, including increasing company salary expenses, improving software, and purchasing better servers.
According to reports, Azura provides market data access, full transaction lifecycle support and DeFi asset transactions. It will connect various crypto wallets, blockchains, exchanges and other protocols within an interface layer. Azura also reduces trust risks by eliminating middlemen and returning control to users. Azura was launched a year ago as a private invitation-only closed beta under the name Thunder. This is a product test in which only a selected group of users can participate. It is reported that all Thunder users will migrate to Azura.
Important data
Notional value of $4.2 billion in BTC options and $1 billion in ETH options will expire this Friday
According to CoinDesk, data shows that BTC and ETH options contracts with nominal values of $4.2 billion and $1 billion, respectively, will expire on Deribit on Friday. The biggest pain point for Bitcoin options is $64,000, with a put/call ratio of 0.62, indicating that market sentiment is optimistic. Ethereum is currently trading at around $2,600, which is exactly at its biggest pain point price.
It is worth noting that more than $682 million worth of BTC options (equivalent to 16.3% of the total $4.2 billion) will be "in-the-money" at expiration, most of which are call options. When the strike price of a call option is lower than the current market price, the option is considered in-the-money; while in-the-money put options are options with a strike price higher than the spot price.
Bitcoin mining difficulty increased by 3.94% to 95.67 T this morning
CloverPool data shows that the difficulty of Bitcoin mining has been adjusted at block height 866,880 (2024-10-23 02:05:01), with the difficulty of mining increasing by 3.94% to 95.67 T, a record high. The current average computing power of the entire network is 706.03 EH/s.
According to on-chain analyst Ember, the Worldcoin multi-signature wallet (address 0xE79…1a3) distributed 5.3 million $WLD (about $12 million) to five market makers in the past week. Since April 29, the wallet has continued to distribute $WLD to market makers such as Wintermute, GSR, Flow Traders, Auros Global and Amber, and a total of 44.9 million $WLD (about $103 million) has been distributed in half a year.
Arkham: Tesla’s 11,509 BTC have not been sold
According to Arkham Intelligence analysis, despite the large number of Bitcoin transfers last week, Tesla's 11,509 BTC (about US$777 million) remain intact.
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