Daily Report | Trump: The U.S. Department of Justice violated its policies and interfered in the election; Nvidia will announce its Q2 earnings tonight; Ant Group's financial technology division announces progress on the Hong Kong sandbox project
Highlights of August 28th整理：Luan Peng, ChainCatcher
Important News:
- Ant Group announces progress on Hong Kong sandbox project, confirms completion of first cross-border RWA for mainland enterprises
- Vitalik: Airdrops are an ideal use case for testing blockchain identity and credential frameworks
- Sun Yuchen: TRON has operated without interruption for 7 years
- Binance to delist MATIC spot trading pairs and will open POL/BNB, POL/BTC, POL/ETH spot trading on September 13
- Data: Probability of "Pavel Durov being released in August" on Polymarket rises to 38%
- NVIDIA will announce Q2 earnings tonight, Goldman Sachs predicts its stock market value may fluctuate by $298 billion
- He Yi responds to account restrictions for Palestinian users: Only a few accounts related to illegal funds have been banned from trading
- Trump: The U.S. Department of Justice violated its policy and interfered in the election
"What important events have occurred in the past 24 hours"
According to Jinshi, in the first phase progress of the Ensemble (sandbox) project announced by the Hong Kong Monetary Authority, Ant Group officially announced the completion of the first domestic cross-border RWA based on new energy physical assets in Hong Kong in collaboration with Longxin Technology. This is one of four tokenization-themed cases in the progress of the Monetary Authority's sandbox project and has attracted the most attention.
Vitalik: Airdrops are an ideal use case for testing blockchain identity and credential frameworks
Ethereum co-founder Vitalik Buterin stated on X that airdrops are an interesting initial use case for validating zero-knowledge proofs (ZK), blockchain identity, credentials, and proof frameworks.
He pointed out that the goals of airdrops include: distributing to community members rather than randomly selling to users, rewarding project contributors, maintaining relative fairness (allowing for some degree of variance), and resisting malicious extractive arbitrage behavior. Vitalik believes that these are precisely the characteristics that identity, credential, and proof frameworks aim to achieve, so it is very reasonable to use token issuance as an initial use case for testing and optimizing these frameworks, especially in adversarial environments.
Sun Yuchen: TRON has operated without interruption for 7 years
Sun Yuchen, founder of TRON and a member of the Huobi HTX Global Advisory Committee, stated on the X platform that the TRON platform has operated continuously for the past 7 years without even a microsecond of downtime. He mentioned that many blockchains may experience hours or even days of downtime, making TRON's performance impressive.
Binance announced plans to support the swap of Polygon (MATIC) tokens for Polygon (POL).
Binance will stop trading and delist all existing MATIC spot trading pairs (MATIC/BNB, MATIC/BRL, MATIC/BTC, MATIC/ETH, MATIC/EUR, MATIC/FDUSD, MATIC/JPY, MATIC/TRY, MATIC/USDC, and MATIC/USDT) on September 10, 2024, at 11:00 AM (UTC+8), and will automatically remove all open orders. Binance will open POL/BNB, POL/BRL, POL/BTC, POL/ETH, POL/EUR, POL/FDUSD, POL/JPY, POL/TRY, POL/USDC, and POL/USDT spot trading on September 13, 2024, at 6:00 PM (UTC+8).
Data: Probability of "Pavel Durov being released in August" on Polymarket rises to 38%
The Polymarket platform shows that the current probability of Telegram founder Pavel Durov being released in August has risen to 38%.
Previous reports indicated that Pavel Durov visited Russia multiple times between 2015 and 2021.
According to Jinshi, NVIDIA will announce its second-quarter earnings tonight. Goldman Sachs' trading department stated in a report that NVIDIA's stock market value could experience a significant fluctuation of up to $298 billion after the earnings report, based on recent options pricing data.
According to Goldman Sachs, if the company can report a robust growth quarter and provide stronger forward guidance, it may surprise the stock market and lead to significant price movements.
He Yi responded on X regarding the account restrictions for users in Palestine. He stated: "Only a few accounts related to illegal funds have been banned from trading.
As a global cryptocurrency trading platform, Binance, like other financial institutions, complies with internationally recognized anti-money laundering regulations. Binance will continue to educate users on how to trade safely and reliably on its platform.
Most importantly, Binance hopes for lasting peace in the entire region."
Trump: The U.S. Department of Justice violated its policy and interfered in the election
Trump stated on X: "The Department of Justice's policy states that the Department should not take any action that could affect the election within 60 days of the election------but they just took such action. Voting will begin on September 6, so the Department of Justice has violated its own policy, which is election interference. All these 'pranks' by Kamala or Biden should be immediately revoked."
During the "Preventing North Korean Virtual Asset Money Laundering" joint seminar, U.S. State Department Special Representative for North Korea Seth Bailey stated that stealing virtual currency is a relatively new source of income for North Korea. It is estimated that over 40% of the funding North Korea uses for weapons of mass destruction (WMD) and ballistic missile development projects is raised through virtual currency.
Bailey cited a report from blockchain research firm TRM Labs, which indicated that last year, about one-third of global virtual asset thefts were carried out by North Korean hackers, and this year's theft amount is expected to increase further.
Bailey emphasized: "We are working closely with like-minded countries such as South Korea and Japan to develop government policies and procedures that directly impact North Korea's behavior."
Solana's re-staking protocol Solayer has completed a $12 million seed round financing, led by Polychain Capital, with participation from Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and Arthur Hayes' family office Maelstrom, achieving a post-investment valuation of $80 million.
Co-founder Rachel Chu revealed that the financing round ended in May and is structured as a Simple Agreement for Future Equity (SAFE) plus token warrants. The new funding will be used to expand the team, integrate new protocols, and prepare for the second phase of the platform, with plans to recruit more employees in functions such as growth, institutional partnerships, and engineering. Solayer also plans to launch its native token in the future, which is currently "in design."
It is reported that earlier this month, Binance Labs announced its investment in Solayer, which is part of the same $12 million seed round financing. Last month, Solayer also announced an undisclosed amount of pre-seed financing, with angel investors including Solana co-founder Anatoly Yakovenko and Polygon co-founder Sandeep Nailwal.
"What excellent articles are worth reading in the past 24 hours"
Behind MakerDAO's rebranding to Sky, is scale more important than decentralization?
Yesterday, the Maker protocol announced a brand upgrade to Sky, and the Maker ecosystem is undergoing a major overhaul.
The decentralized stablecoin Dai (DAI) will upgrade to USDS at a 1:1 ratio, while the native governance token MKR will upgrade to SKY at a ratio of 1:24,000. Maker SubDAO will be renamed Sky Stars.
This is not just a simple name change, but a significant shift in strategic direction.
Sky (formerly Maker) co-founder Rune Christensen stated that this brand transformation is an important step towards leading "the next evolution of DeFi," aimed at increasing protocol accessibility and focusing more on usability, which will help attract more mainstream users from centralized exchanges.
However, after the upgrade, Spark Protocol CEO Sam MacPherson stated that USDS has introduced a freezing feature. The Sky website has also added a function to prohibit VPN logins.
Many crypto users have questioned Sky's departure from its decentralization goals.
PleasrDAO's @Lumbergdoteth posted on X: "DAI is currently migrating to USDS, which is a censorable stablecoin, contrary to its original vision. RIP DAI, 2017-2024."
DefiLlama's @Oxngmi also posted: "Rip, it seems the Maker rebranding has introduced a VPN blocker (makerdao.com won't block)."
In support of Telegram founder, Musk's long-term concerns and immediate worries
The arrest of Telegram founder Pavel Durov on the evening of August 24 (local time in France) has recently attracted widespread attention in the market, sparking discussions among notable figures from the investment, business, and political sectors, including support from Tesla founder Elon Musk, Sequoia Capital partner Shaun Maguire, and Ethereum co-founder Vitalik Buterin.
The keywords of support mainly focus on "the EU" and "freedom of speech." Elon Musk has repeatedly expressed his views on X regarding Pavel Durov's arrest, and Nigel Farage, leader of the Reform Party in the UK, commented on X: "Pavel Durov's arrest is concerning. Telegram is a secure free speech application. There may be some bad actors on it, but any platform has them. What's next… Elon Musk's arrest?"
Elon Musk's support for Pavel Durov may reflect a sense of urgency. When Musk initially acquired Twitter (the predecessor of X) for $44 billion, he positioned himself as a "free speech" advocate and has criticized the U.S. government and the EU for "lack of free speech" on multiple occasions.
In December 2023, the committee initiated a formal lawsuit against X to assess whether X may have violated the Digital Services Act (DSA) in areas related to risk management, content moderation, dark patterns, advertising transparency, and researcher data access, and informed X of its violations of DSA regulations on July 12 of this year.
With the arrest of the Telegram founder, a new debate has begun around internet freedom of speech.
As the owner of X, Musk, who is unwilling to cooperate with EU regulations, clearly has greater concerns.
For social media leaders, arrests like this set a dangerous precedent. The EU and U.S. government have previously summoned and questioned leaders of other social media companies, but very few leaders of large tech companies have been arrested for events occurring on their platforms.
Recently, members of the Sajia team suddenly received a late-night inquiry call from an old friend in the crypto circle, who stated that he was suddenly "border-controlled" and unable to leave the country. He expressed concerns about being taken away by judicial authorities due to some gray areas in his business operations and urgently needed legal services.
In fact, the friend's situation is not an isolated case. In many cases we handle, "border control" is not a new phenomenon, and it is not uncommon for people in the crypto circle to suddenly be "border-controlled." Today, the Sajia team will provide a detailed explanation of what "border control" is, why people in the crypto circle are "border-controlled," and how to self-rescue if one is "border-controlled."
Arthur Hayes' new article: Fed rate cuts and a stronger yen will send Bitcoin "To The Moon"
In the final phase of the third quarter, the conditions for fiat liquidity could not be better.
Why did the old OG suddenly want to change its name?
Let me introduce you to a new project called Sky.
When this word appears, besides the unfamiliarity, do you feel that such a common name should correspond to a project that can take off to the sky tomorrow?
It is hard to imagine that this is a rebranding of MakerDAO, the pioneer of DeFi and the crypto stablecoin DAI.
On August 27, MakerDAO announced its plan to rebrand to Sky and upgrade its own token and stablecoin to the new names SKY and Sky Dollar (USDS).
From MakerDAO to Sky, it is not just a change of name, but a change in brand perception.
Tonight, the world awaits "NVIDIA time"
The market is eagerly anticipating the arrival of "NVIDIA time."
After the U.S. stock market closes on Wednesday, Eastern Time, the stock known as "the most important stock in the world" will release its Q2 earnings report for the fiscal year 2025, followed by an earnings call. NVIDIA's report card not only concerns itself but also impacts the entire global technology and financial industry supply chain.
In the AI frenzy, NVIDIA has been given high expectations by the market. Market optimism anticipates that NVIDIA's revenue this quarter will double year-on-year, and there are expectations for the company's stock price to reach new highs. Of course, there are also continuous doubts such as "AI has been overhyped" and "NVIDIA's valuation is too high."
Whether NVIDIA can capture the market's optimism and renew its "AI faith" will be crucial. Morgan Stanley stated that if NVIDIA's revenue exceeds expectations, it could drive AI-related stocks up by 3-15%, while the opposite could lead to a collapse of AI stocks. Bank of America believes that if NVIDIA's performance is disappointing, there could be a 10% fluctuation, which is about $300 billion.
In addition to performance, the production timeline of NVIDIA's next-generation AI chip Blackwell has also become a focal point.
Zerohedge reported that generally, NVIDIA's earnings data is usually released around 4:20 PM Eastern Time (4:20 AM Beijing time on Thursday), followed by a conference call at 5:00 PM Eastern Time (5:00 AM Beijing time on Thursday).
