Daily Report | TON Official X account posts "Resistance" to show defiance; Trump family's new crypto project TG channel renamed to "World Liberty Financial."
Highlights of August 26th整理：Luan Peng, ChainCatcher
Important News:
- Insider: The current maximum detention time for Telegram founder can reach 96 hours
- DOGS: On-chain withdrawals are now open, CEX and on-chain trading will start at 8 PM Beijing time
- Binance Labs executive: The company's recent AI investments aim to support the AI-driven DApp wave
- ChainCatcher and Blocktempo launch a survey on crypto venture capital research in the Asia-Pacific region, participants can win RootData API rewards
- Vitalik: Supports RWA, hopes to see more diversity on-chain
- Greeks.live: This week there are several important macroeconomic data releases and speeches from key figures
- Trump family’s new crypto project TG channel renamed to "World Liberty Financial"
- TON official X account posts "Resistance" as a sign of protest
"What important events occurred in the past 24 hours"
Insider: The current maximum detention time for Telegram founder can reach 96 hours
According to The Guardian, the French judiciary extended the detention of Russian-born Telegram founder Pavel Durov on Sunday, after he was arrested at a Paris airport.
Sources close to the investigation revealed that the investigating judge has extended Durov's detention until after Sunday night. The initial detention period can last up to 96 hours. When this phase of detention ends, the judge can decide to release him or continue prosecution and extend the detention.
Previously, French investigators had issued an arrest warrant for Durov as part of an investigation into allegations of fraud, drug trafficking, organized crime, terrorism propaganda, and cyberbullying.
DOGS: On-chain withdrawals are now open, CEX and on-chain trading will start at 8 PM Beijing time
DOGS official stated on their Telegram channel, "On-chain withdrawals are now open, users can operate through the application. CEXs and on-chain trading will start at 8 PM Beijing time. Please note: We are gradually rolling out the 'claim' feature. If users do not see the button, please check the application again in 15 minutes."
Binance Labs executive: The company's recent AI investments aim to support the AI-driven DApp wave
According to Cointelegraph, Binance Labs investment director Max Coniglio shared details of the company's recent investments and explained why the company is venturing into the AI field. Coniglio stated that one of their recent investment goals is to promote decentralized applications powered by AI.
Coniglio believes that if both AI and blockchain are open-source, they will thrive. He explained, "AI and blockchain are a powerful combination. Both rely on open-source innovation, challenge traditional regulations, and drive significant wealth creation. They complement each other by addressing challenges between them." Coniglio believes that these two technologies fit well together, with AI improving the user experience of blockchain and enhancing decentralized systems; on the other hand, blockchain ensures authenticity, facilitates collaboration on open-source projects, and supports the computational needs of AI.
While these ideas sound good in theory, Coniglio pointed out that those looking to build projects using these technologies still face challenges. He stated that blockchain developers and projects must build solid products and sustainable businesses. He added, "To succeed, founders must master AI technology and have a keen business sense. New technology alone cannot create a large-scale impact."
ChainCatcher, in collaboration with crypto media Blocktempo, has launched a survey on the research methods of crypto venture capital in the Asia-Pacific region.
As the crypto industry enters a new development cycle, understanding the changes in venture capital research methods and standards helps reduce information gaps, identify quality projects for the next cycle, and promote effective allocation of market resources.
Click the link to participate in this survey. The results will be published on over 10 authoritative media platforms, and completing the questionnaire takes only 10-15 minutes. Participants will have the chance to win 100 Plus version API (3 months of usage) provided by RootData, available on a first-come, first-served basis.
Vitalik: Supports RWA, hopes to see more diversity on-chain
Ethereum co-founder Vitalik posted on X, "I support RWA, and I hope to see more diversity on-chain so that applications can use them without being affected by systemic risks from a single issuer or asset class."
Greeks.live macro researcher Adam posted on social media that Powell's speech at the Jackson Hole Global Central Bank Conference clarified the Fed's interest rate cut in September, with a consensus leaning towards a 25 basis point cut, and there is also a possibility of a 50 basis point cut if economic data pressures are significant this month. The clear commitment to rate cuts has given the market great confidence, leading to a rebound in major cryptocurrencies, but the subsequent trend remains highly uncertain.
This week, there are several important economic data releases, as well as speeches from key figures, primarily revolving around the Fed's rate cut in September. Additionally, Russia's cryptocurrency legislation is also worth noting, as crypto begins to take center stage.
ETH has remained sluggish after the Cancun upgrade, with Gas now below 0.8 Gwei. The significant reduction in ETH consumption has caused the deflationary flywheel to fail, and currently, there seems to be no opportunity for ETH exchange rate rebound, making the bearish ratio price difference very cost-effective.
Trump family’s new crypto project TG channel renamed to "World Liberty Financial"
Donald Trump Jr.'s Telegram channel for the new crypto project "The DeFiant Ones" has been renamed to World Liberty Financial.
The announcement states, "Everyone knows how banks and financial institutions manipulate the system against ordinary Americans. We have been abandoned by banks, banned by platforms, and subjected to every imaginable political game. These banks and the elites controlling them want absolute control, but that is all about to end. We are making finance great again by returning power to you. This new decentralized finance (DeFi) platform will eliminate corrupt, expensive, and inefficient intermediaries. No more bureaucrats deciding your fate. It’s time to modernize this unfair and outdated system, giving everyone the opportunity to access the same opportunities that elites have hoarded. Join us, and let’s make finance serve the people again."
TON official X account posts "Resistance" as a sign of protest
TON official posted "Resistance." on X as a sign of protest.
According to previous news, TON's official Twitter added the Resistance Dog logo, hand-drawn by Telegram founder in 2018, to their profile picture.
Binance page shows TON Logo updated to Resistance Dog
Binance's official page shows that the TON token logo has been updated to Resistance Dog, and it is unclear whether this was an initiative from Binance.
According to the TON Foundation, the dog in a hoodie (also known as Resistance Dog) was originally hand-drawn and named by Pavel Durov, the founder of Telegram and TON, in 2018. REDO has since been the (un)official mascot of Telegram's vision of "resisting" censorship.
According to previous news, TON's official Twitter added the Resistance Dog logo, hand-drawn by Telegram founder in 2018, to their profile picture.
Sun Yuchen posted on X that the TRON community's proposal No. 92 has taken effect, raising the energy cap to 12 billion. This means that TRX stakers can conduct more transactions, reduce Gas fees, and increase network activity.
Former Heartland Tri-State Bank CEO Shan Hanes has been sentenced to 293 months in federal prison for alleged involvement in a $47 million cryptocurrency fraud case. Court documents show that Hanes executed 11 unauthorized wire transfers between May and July 2023, transferring $47.1 million of the bank's funds into a cryptocurrency wallet linked to a pig-butchering scam. This scam ultimately led to the collapse of Heartland Tri-State Bank.
"What are the must-read articles from the past 24 hours"
The Bitcoin market is entering an intriguing phase after completing its fourth halving in April 2024. This cycle presents unique challenges for analysis, with new factors such as ETF approvals influencing traditional post-halving patterns.
In this article, we will review historical data from previous halvings, assess the current market conditions, and explore one of my ideas—a potential long-term consolidation period that could define this cycle. While I am not suggesting that this idea is entirely novel, it is interesting that I have seen very little discussion about this perspective recently. When I mention this idea, the common response is, "This cycle is different."
Ethereum Foundation's spending transparency questioned, ETH held only enough for 8 years of expenses
On August 24, it was reported that the Ethereum Foundation deposited 35,000 ETH (approximately $94.07 million) into Kraken. The last transfer of ETH to Kraken was on May 6 of last year, when 15,000 ETH (approximately $30.1 million) was transferred, and ETH subsequently dropped 13% over the next six days.
This transfer operation has raised concerns within the crypto community. In response, Ethereum Foundation Executive Director Aya Miyaguchi claimed, "This is part of the Ethereum Foundation's financial management activities. The Ethereum Foundation's annual budget is about $100 million, mainly consisting of grants and salaries, with some beneficiaries only able to accept fiat currency. For a long time, the Ethereum Foundation has been advised not to engage in any financial activities due to complex regulations, and we cannot share plans in advance. However, this ETH transfer transaction does not equate to a sale, and there may be plans for gradual sales in the future."
In response to this incident, crypto KOL Ignas analyzed how the Ethereum Foundation uses ETH, pointing out the lack of comprehensive and transparent reporting on its expenditures. Here are the details:
The Ethereum Foundation holds ETH worth $845 million, accounting for 0.25% of the total ETH supply.
Analyzing the impact of Nikkei Index and US stocks on the cryptocurrency industry
In today's increasingly interconnected global financial markets, the relationship between traditional stock markets and the emerging cryptocurrency market has drawn widespread attention from investors and analysts. This article will analyze the recent "8.5 coin disaster" event and the relationship between the Japanese economy and the global cryptocurrency market, revealing the driving factors behind these complex market dynamics.
Interpreting Web3 games in 2024: Development, trends, and market dynamics
The Web3 gaming industry has undergone significant evolution since its inception. Initially driven by the "play-to-earn" (P2E) model, the industry is now shifting towards a more balanced "play-and-earn" approach, prioritizing the appeal of games and the potential for earning. This shift addresses the sustainability issues of the pure P2E model, especially in developing countries where gaming guilds play a crucial role.
TVL surges over 240% this year, crypto tiered fund Tranchess enters the liquidity staking battle
From financial innovation experiments to the cornerstone of liquidity markets, DeFi has experienced rapid development and evolution over the years. With the deleveraging amplifying the cyclical evolution effect, the DeFi ecosystem has faced a liquidity crisis, causing the fate gears of various players to turn, leading to fierce competition.
Tranchess, a veteran player in the DeFi space that plays with the concept of tiered funds, has continuously enhanced its ability to navigate through cycles around asset management over the past few years and has now immersed itself in the narrative wave of liquidity staking.
