Daily Report | Trump considers appointing Musk to a cabinet or advisory role; SEC rejects Solana's spot 19b-4 application; Harris states she will not participate in the debate on September 4
Highlights of August 20th整理：Fairy，ChainCatcher
Important News:
- Insider: SEC Rejects Two Solana Spot 19b-4 Applications Submitted by Cboe BZX
- Upbit Adds USDT Trading Pairs for BRETT and PEPE
- Former CEO of HTSB Bank in the U.S. Misappropriates Tens of Millions of Dollars to Participate in Crypto Scam, Leading to Bank's Collapse
- Trump: Harris Indicates She Will Not Attend Debate on September 4 at Fox News
- U.S. SEC Previously Discussed the Securities Status of SOL with ETF Issuers
- Trump: If Elected, He Will Consider Appointing Musk to Cabinet or Advisory Role
"What Important Events Happened in the Last 24 Hours"
Insider: SEC Rejects Two Solana Spot 19b-4 Applications Submitted by Cboe BZX
According to The Block, an insider revealed that the U.S. Securities and Exchange Commission (SEC) has rejected two Solana spot 19b-4 applications submitted by Cboe BZX.
It is reported that the 19b-4 documents are submitted by exchanges on behalf of issuers. If these documents are published in the Federal Register, the SEC's approval process would begin. Another important document, the S-1 registration statement, is submitted by the issuer and has no deadline.
However, since the SEC rejected the 19b-4 forms, they were never published in the Federal Register, and the potential approval or rejection process has not been initiated.
Upbit Adds USDT Trading Pairs for BRETT and PEPE
According to an official announcement, Upbit has added USDT trading pairs for Brett (BRETT) and Pepe (PEPE).
Former CEO of HTSB Bank in the U.S. Misappropriates Tens of Millions of Dollars to Participate in Crypto Scam, Leading to Bank's Collapse
According to an announcement from the U.S. Department of Justice, a Kansas man was sentenced to 293 months in prison for misappropriating tens of millions of dollars through a cryptocurrency scheme while serving as the former CEO of a bank, leading to the bank's collapse and total loss for investors.
While serving as the CEO of Heartland Tri-State Bank (HTSB) in Elkheart, Kansas, Hanes initiated 11 wire transfers from May to July 2023, transferring $47.1 million of Heartland's funds into cryptocurrency wallets in a scheme referred to as "pig butchering." During the time HTSB was insured by the Federal Deposit Insurance Corporation (FDIC), these funds were transferred to multiple cryptocurrency accounts controlled by unidentified third parties. The FDIC incurred a loss of $47.1 million. Hanes's fraudulent actions led to HTSB's bankruptcy, resulting in a loss of $9 million for bank investors. A federal judge has ordered a separate hearing within the next 90 days to finalize compensation matters.
Trump: Harris Indicates She Will Not Attend Debate on September 4 at Fox News
Former U.S. President Trump stated on his social media platform that Harris has informed the Trump team that she will not attend the debate on September 4 at Fox News.
Musk: Willing to Serve for "D.O.G.E."
Tesla CEO Elon Musk tweeted "I am willing to serve," accompanied by an image showing the abbreviation for "Department of Government Efficiency" as "D.O.G.E."
U.S. SEC Previously Discussed the Securities Status of SOL with ETF Issuers
According to The Block, citing insider information, the SEC had discussions with potential Solana ETF issuers regarding concerns about Solana's potential status as a security before Cboe BZX removed the Solana ETF-related 19b-4 forms from its website.
After discussions, the SEC and Cboe agreed not to submit the 19b-4 forms to the Federal Register. The 19b-4 documents submitted by Cboe on behalf of ETF issuers were no longer displayed on the exchange's website over the weekend. They are also not currently in the Federal Register. For an ETF to be approved, the 19b-4 forms must first be approved, and the S-1 registration statement must also be effective.
Currently, VanEck's Solana ETF's S-1 registration statement is still displayed in the SEC's EDGAR filing system. However, 21Shares' S-1 registration statement is no longer appearing in search results, although direct links remain valid.
The insider stated that it is not surprising for issuers that the SEC has previously referred to Solana as a security in multiple court documents, thus taking this position. The insider indicated that they expect new filings or revisions to the 19b-4 forms in the future to attempt to prove that Solana is not a security.
Despite Bitcoin and Ethereum spot ETFs having cleared regulatory hurdles and begun trading, most market observers had anticipated that the SEC would be more reluctant to approve new Solana funds.
Trump: If Elected, He Will Consider Appointing Musk to Cabinet or Advisory Role
Former U.S. President Trump stated that if elected as the next president, he would consider eliminating the $7,500 electric vehicle tax credit and would consider appointing Musk to a cabinet or advisory role if he is willing.
"What Interesting Articles Are Worth Reading in the Last 24 Hours"
Base Becomes a New Battleground for DeFi Protocols, Second Only to Ethereum in Developer Count
On August 15, Growthepie data showed that the daily transaction count processed by the Ethereum Layer 2 ecosystem has surpassed 13 million (approximately 13.15 million), setting a new daily transaction volume record, driven by the Base network.
Since late July, the daily transaction volume on the Base network has repeatedly surged to peaks of over 4 million. On July 27, the Base network set a record with a daily transaction volume of 4.432 million. In other words, one-third of the transaction volume in the Layer 2 ecosystem now occurs on the Base network.
During the same period, Arbitrum's daily transaction volume was approximately 1.8 million, while Op Mainnet had only 470,000 transactions, and the Ethereum mainnet's daily transaction volume has remained around 1.1 million for most of this year. This indicates that Base has become the most active blockchain network.
This is confirmed by data from Base's official block explorer, Basescan, which shows that the daily transaction volume on the Base network has surged by 700% over the past six months.
According to DeFiLlama data, the Total Value Locked (TVL) on the Base network has reached $6.3 billion, making it the second-largest Layer 2 network.
Netting $10 Million, What Are Trump's "Crypto Earnings"?
Since Biden's withdrawal from the election, the U.S. presidential election has entered a new round of public opinion dynamics. The Financial Times analyzed that Harris's current digital advertising spending has reached ten times that of Trump, mainly focusing on tech platform promotional efforts; additionally, during the conversation between Trump and Musk on the evening of August 12, Trump did not discuss any cryptocurrency-related topics, causing the market to feel disheartened. Currently, Polymarket predicts that Harris's chances of winning have surpassed Trump's by 10%.
If the most watched topic in the cryptocurrency field for 2024 is the U.S. election, related meme coins are flying around, and every meeting of political figures is not overlooked, once again igniting the prediction market. At the center of this vortex is former U.S. President Trump, who has transformed from a crypto-apathetic politician to a new presidential candidate advocating for Bitcoin. Cryptocurrency has become a new breakthrough point for Trump's campaign this year.
Canaan Inc.: Selling Mining Machines is Just Making Friends, Not Profitable
Canaan Inc. recently released its unaudited financial report for the second quarter of 2024. The report shows that the company's overall operating conditions have improved compared to the second quarter of 2023 and the first quarter of 2024, with profitability moving in a positive direction. However, despite several indicators showing that the company is making progress, Canaan Inc. still faces significant financial challenges and market pressures.
