This Week's Key News Preview | The U.S. August Non-Farm Payroll Report will be released; Circle will stop supporting Flow; Polygon will migrate MATIC to POL
Highlights of the week from September 2 to September 8.Organized by: Fairy, ChainCatcher
Key News:
- The U.S. Department of Labor will release the August non-farm payroll report on September 6.
- WazirX plans to hold its first meeting on September 2 to discuss restructuring and moratorium applications
- Circle will stop supporting USDC on Flow (Cadence) on September 3
- Polygon plans to migrate MATIC to POL on September 4
- Nigerian judge has moved the hearing date for the Binance money laundering case to September 2
- Crypto advocacy group Stand With Crypto will begin a multi-state tour in the U.S. starting September 4
September 2 (Monday)
Nigerian judge has moved the hearing date for the Binance money laundering case to September 2
According to Reuters, a Nigerian judge will expedite the hearing of the money laundering case involving Binance and its two executives, which was originally scheduled for October 11, now set for September 2. The wife of detained executive Tigan Gambaryan stated earlier this month that Tigan has been held in Nigeria since February, and his health has deteriorated in prison.
DOGS will add two new token claiming options
The DOGS official announced on their Telegram channel that for users who have not yet claimed tokens, two new claiming options will be added in the app on September 2:
- Faster withdrawals, requiring a small fee paid in DOGS;
- Slower withdrawals, but no fees.
Users can choose the method that best suits them for receiving DOGS, which will expedite the process with less blockchain load.
Upbit will support the migration of MATIC to POL and will suspend deposits and withdrawals on September 2
According to the official announcement, Upbit will support the migration of MATIC to POL, and deposits and withdrawals will be suspended on September 2 at 17:00. After the token migration and exchange are completed, a separate announcement will be made to restore services once the stability of deposits and withdrawals is confirmed.
WazirX plans to hold its first meeting on September 2 to discuss restructuring and moratorium applications
WazirX tweeted that it plans to hold its first Townhall meeting on September 2 at 16:00 to discuss restructuring and moratorium applications.
According to previous news, the Indian crypto exchange WazirX has submitted a moratorium application to the Singapore High Court. WazirX expects that under the planned restructuring, the impact of the cyber attack will be proportionally distributed to users of the same class as unsecured creditors, and users will receive a share of the available token assets related to the platform, proportional to their share.
Binance will stop the fixed interest rate service for 7-day and 30-day staking loans on September 2
According to the official announcement, based on the latest assessment results, Binance will stop the fixed interest rate service for 7-day and 30-day staking loans on September 2, 2024, at 12:00 (UTC+8).
From September 2, 2024, at 12:00 (UTC+8), users will not be able to create new fixed interest rate orders for staking loans or extend existing orders, including users using the SAPI endpoint. It is recommended to stop using the relevant endpoints before the above date. Ongoing fixed interest rate orders for staking loans will not be affected until they expire.
Note: VIP loan fixed interest rate orders are not affected by this service update.
September 3 (Tuesday)
Trump will release a new book "Saving America" on September 3
According to Axios, Trump announced the release of a new book "Saving America" with a photo taken during his assassination attempt as the cover. The book is set to be published on September 3.
Circle will stop supporting USDC on Flow (Cadence)
According to official news, due to an upcoming network upgrade, Circle will stop supporting USDC on the Flow (Cadence) blockchain at 3:00 AM (Eastern Time) on September 3, 2024.
USDC minting on Flow will continue until noon (Eastern Time) on August 27, 2024.
Binance plans to update request weight adjustments and WebSocket user data requests on September 3
According to the official announcement, Binance will update request weight adjustments and WebSocket user data requests on September 3, 2024, at 14:00 (UTC+8). Binance encourages users to switch to the updated version endpoints for better performance and functionality.
Offchain Labs announces Arbitrum technical roadmap: Stylus Season is set to launch on the mainnet on September 3
Layer 2 scaling solution Arbitrum announced that in preparation for the launch of "Stylus Season" on September 3, they have updated the appearance of their official website. Stylus is a new feature of Arbitrum, and the website provides development libraries, code examples, documentation, video tutorials, and user experience sharing.
September 4 (Wednesday)
Crypto advocacy group Stand With Crypto will begin a multi-state tour in the U.S. starting September 4
The crypto political advocacy group "Stand With Crypto" will launch a multi-state tour on September 4 to influence the 2024 elections, starting in Arizona. The organization has attracted over 1 million online registrations, aiming to convert these digital asset supporters into voting constituents.
The organization's executive director Logan Dobson stated, "There are a lot of people interested in cryptocurrency, and our mission is to use campaign-like strategies to motivate them to vote. Crypto voters are already quite enthusiastic about this election."
It is reported that "Stand With Crypto" has attracted nearly 27,000 crypto supporters from Arizona to register on its website, with research indicating that over 80% may be registered voters. In the 2020 election, the vote margin between Trump and Biden in the state was less than 11,000 votes.
Options protocol Lyra has been renamed Derive, and will release DRV token updates on September 4
The options protocol Lyra announced its renaming to Derive, representing its vision for decentralized derivatives and future development roadmap.
Derive is now a fundamental component of the decentralized finance ecosystem, providing financial applications and product support for various integrators, traders, and institutions. The goal is to make the protocol and infrastructure easily accessible.
In the coming weeks, Derive will share its roadmap and partnerships. The DRV token update will be released on September 4.
Polygon plans to migrate MATIC to POL on September 4
The Polygon Foundation announced on the X platform that the mainnet upgrade plan for Polygon will take place on September 4, 2024, and upon community approval, POL will replace MATIC as the native gas and staking token for Polygon PoS, with POL playing a key role in the subsequent phase in AggLayer.
September 5 (Thursday)
BabyDoge token on Solana is expected to launch on September 5
Baby Doge announced on X that the Solana bridge and BabyDoge token on Solana are expected to launch on September 5.
THORChain native blockchain will undergo a hard fork upgrade on September 5
The THORChain native blockchain will undergo a hard fork upgrade at 00:00 on September 5, 2024 (Beijing time), expected to occur at block height 17561740.
During the routine upgrade coordinated by validators, THORChain will suspend sending, exchanging, and other operations.
September 6 (Friday)
Matrixport: The market is about to respond to the U.S. employment data to be released on September 6
Matrixport released a chart stating that Bitcoin is about to face its most challenging month in September. Historically, the return rate in September has been negative. This year adds extra pressure, including expectations for the U.S. tech sector following Nvidia's earnings forecast, Federal Reserve policy decisions, and the upcoming U.S. presidential debate (between Harris and Trump). This September will have a significant impact on Bitcoin's price trend. From 2022 until the second quarter of 2024, there has been a strong correlation between Nvidia and Bitcoin. However, recently, while AI rebounds and Nvidia's stock surges, Bitcoin has not followed suit. Both asset prices are breaking new lows, indicating a deepening consolidation. The market is about to respond to the U.S. employment data to be released on September 6.
Switzerland is consulting on implementing a global cryptocurrency reporting framework, deadline September 6
The Swiss Federal Council plans to adopt global cryptocurrency tax reporting standards and join the Crypto Asset Reporting Framework (CARF) to enhance tax transparency and strengthen regulation. This move aims to ensure that crypto assets receive equal treatment with traditional assets. On May 15, the Federal Council published a consultation document seeking public opinion on the assessment of joining the Automatic Exchange of Information (AEOI), an international cooperation initiative to combat tax evasion. The consultation process will last until September 6. Switzerland has adopted the Common Reporting Standard (CRS) established by the OECD since 2014, but it has not yet covered crypto assets. If the Federal Council's plan is implemented, it will extend to the regulation of crypto assets starting January 1, 2026. Additionally, by 2027, nearly 50 countries are expected to fully adopt CARF regulations to jointly combat money laundering.
Mode will close its governance token airdrop claim on September 6
The second phase of the token claim plan for Mode, built on OP Stack, runs from May 5 to September 6, during which an additional 500 million tokens will be allocated. The team also released additional details regarding its tokenomics. Of the total supply of 10 billion, investors and core contributors will receive 38% of the total Mode tokens. The foundation's treasury will hold 27%, and the remaining 35% is specifically allocated for community and developer airdrops.
September 7 (Saturday)
Eigen Foundation launches the second phase of EIGEN staking airdrop, claim window open until September 7
The Eigen Foundation announced on social media that the first season of the EIGEN staking airdrop's second phase has officially launched, bringing the total allocation for the first season to approximately 113 million EIGEN, which accounts for 15% of the reserved EIGEN total supply for staking airdrops.
According to the announcement, the claim period is from now until September 7, 2024, and all first-season users (including second-phase users) will receive a reward of 100 EIGEN, but no user will receive the reward twice.
