Daily Report | Federal Reserve cuts interest rates by 50 basis points; Solana plans to release a new generation of phones next year; Trump uses Bitcoin for payment at a bar
September 19 News Overview整理：Fairy，ChainCatcher
Important News:
- Federal Reserve cuts interest rates by 50 basis points, starting a rate-cutting cycle
- Trump uses Bitcoin to pay for a meal in a New York bar for the first time
- Solana Mobile announces details of the next-generation Web3 smartphone Solana Seeker, planned for release in 2025
- Solana on-chain asset trading platform Drift completes $25 million Series B funding, led by Multicoin Capital
- Hong Kong Monetary Authority lowers the benchmark interest rate by 50 basis points to 5.25%
- Solana developer platform Helius completes over $20 million in funding, with participation from Haun Ventures and others
"What important events happened in the past 24 hours"
Inception Capital founder reappears after months of disappearance, agrees to relinquish control over fund's multi-signature wallet
According to Fortune, in May this year, Inception Capital founder David Gan informed investors that his father was under investigation and that he was going to China, after which he disappeared for several months.
During Gan's absence, the limited partners of Inception Capital voted in favor of a controlled liquidation, continuing to manage their existing investments within the fund's original timeframe, but not calling the remaining 25% of capital for its first fund. At the end of June, Gan reappeared and agreed to relinquish control over the fund's multi-signature wallet.
Gan also stated that Inception Capital plans to formally propose to LPs in October to continue investing through the company with the remaining 25% of capital that has not been called, or to choose to withdraw. One investor revealed in an interview that they hope Inception Capital can continue to invest.
It is reported that in 2019, Gan was selected for the "30 Under 30 Asia" list for his work as an executive director at Huobi Labs. He left Huobi in 2021 and raised the first $50 million venture capital fund supported by notable figures such as Bill Ackman, Alan Howard, Y Combinator CEO Garry Tan, and Galaxy, closing a second $30 million parent fund in 2024. According to documents from the U.S. Securities and Exchange Commission, Inception manages assets close to $100 million.
Solana on-chain asset trading platform Drift completes $25 million Series B funding, led by Multicoin Capital
Solana on-chain asset trading platform Drift has completed $25 million in Series B funding, led by Multicoin Capital, with participation from Blockchain Capital, Primitive Ventures, and Folius Ventures.
Cindy Leow, co-founder of Drift Labs, stated that her goal is to build a set of financial service tools on Solana, including spot and derivatives trading as well as prediction markets, to make Drift "the Robinhood of cryptocurrency."
According to RootData, Drift Protocol is an on-chain asset trading center based on Solana, providing services such as Perps and prediction markets.
Hubei cracks down on virtual currency pyramid scheme, involving over 57 million yuan
According to Jimu News, the People's Procuratorate of Zhongxiang City, Hubei Province recently made a ruling on a major virtual currency pyramid scheme. The main offenders Chen, Ding, and Fu were sentenced to three years in prison with a five-year probation for organizing and leading a pyramid scheme, and each fined 350,000 yuan.
In February 2022, the three main offenders developed and launched a virtual currency trading app, using investment in virtual currency as a pretext to establish a pyramid scheme called "Certain Community." The organization heavily promoted through internet platforms and offline training sessions, enticing members to purchase virtual currencies and recruit others. The organization was divided into five major battle zones and 16 vanguard groups, implementing strict hierarchical management.
By December 2022, when the case was uncovered, the organization had developed over 10,000 member accounts, with the highest level reaching 17 layers, involving over 57 million yuan. The three main offenders have voluntarily returned all illegal gains of over 22.59 million yuan. Prosecutors emphasized that virtual currencies do not have the same legal status as legal tender, and related business activities are illegal financial activities that will be strictly prohibited. The public should remain vigilant against false promises of "guaranteed profits" and reject high-interest temptations like "referring others" to avoid falling into similar pyramid scheme traps.
Vitalik: Insurance DAO model is underrated, symmetrical models can bring fairer incentives
Ethereum co-founder Vitalik Buterin stated on social media that, in his opinion, insurance DAOs are underrated. A group of people concerned about similar risks pool their funds together and agree to provide coverage for anyone who suffers a risk. Symmetrical models ensure that the imbalance of interests is minimized.
If needed, DAOs can still hire professional claims judges, but their incentives are fair and just, as each participant does not know whether the next beneficiary will be themselves.
Similar models have existed in the past and still exist in some places today.
Solana Mobile Chapter 2 renamed to Solana Seeker, planned for release in 2025
Solana Mobile has officially announced details of the next-generation Web3 smartphone Solana Seeker. The device, originally named "Chapter Two," is planned for release in 2025 and will offer several improved features.
Seeker has received over 140,000 pre-orders, and the Solana mobile development community is actively embracing Seeker, developing a large number of exclusive dApps and features for the device. Core features of Seeker include a built-in self-custody Seed Vault wallet, Solana Mobile dApp store, Seeker Genesis Token (a soul-bound NFT), and upgraded hardware configuration.
Solana co-founder Anatoly Yakovenko stated that Seeker will offer higher standards than Saga at a more affordable price, aiming to become the most defining Web3 mobile device of the coming year.
Solana developer platform Helius completes over $20 million in funding, with participation from Haun Ventures and others
Solana developer platform Helius announced the completion of $21.75 million in funding, with participation from Haun Ventures, Founders Fund, Foundation Capital, 6th Man Ventures, Chapter One, and Spearhead.
Data: Hong Kong Monetary Authority lowers benchmark interest rate by 50 basis points to 5.25%
The Hong Kong Monetary Authority has lowered the benchmark interest rate by 50 basis points to 5.25%.
According to previous news, the Federal Reserve announced an interest rate cut of 50 basis points in the early hours.
Trump uses Bitcoin to pay for a meal in a New York bar for the first time
According to Fox News, former U.S. President Trump used Bitcoin to pay for a meal in a New York bar for the first time.
Federal Reserve cuts interest rates by 50 basis points, starting a rate-cutting cycle
According to Jin10, the Federal Reserve has started a rate-cutting cycle, lowering the federal funds rate by 50 basis points to 4.75%-5.00%, marking the first rate cut since March 2020.
"What are the must-read articles from the past 24 hours"
Don't miss it! A look at the important project updates announced during TOKEN2049 conference
On September 18, the highly anticipated annual Web3 summit TOKEN2049 officially kicked off in Singapore, gathering global Web3 leaders and bringing a flurry of highlights to the long-silent crypto market.
During the conference, altcoins experienced a surge, and many projects chose this time to announce important strategic plans. ChainCatcher has briefly summarized some important project updates.
After experiencing a second shooting, Trump continues to support family crypto project
Recently, U.S. presidential candidate Trump led the core team of World Liberty Financial in an interview with Rug Radio founder Farokh on the X platform. Just a day before the live broadcast, Trump had experienced a second shooting incident.
In this live broadcast, Trump elaborated on his views on the crypto industry, the SEC's hostility towards the crypto industry, policies regarding the crypto industry after being elected, and related aspects such as NFTs.
After Trump concluded the interview, his good friend Steve Witkoff also shared his views on the crypto industry and World Liberty Financial, followed by core members of World Liberty Financial expressing their opinions. Finally, Zak Folkman, the operations director of World Liberty Financial, officially disclosed information about the project.
Neiro and NEIRO both listed on Binance, is the meme coin sector facing a turning point?
The "case sensitivity dispute" of the meme coin Neiro has once again put Binance in the spotlight.
However, this time, Binance co-founder He Yi's response was notably calm and restrained, which may also suggest that the meme coin project's future listing strategy on Binance will be more cautious. In a recent article titled "He Yi Responds to Listing Controversy: Considering Community Voices, Several Tokens with Relatively Low Market Capitalization and Distribution Were Listed," we can clearly see that community voices still have a significant impact on Binance's decision-making. Additionally, the internal organization of Binance is not as "makeshift" as previously imagined.
However, the simultaneous listing of the new Shiba Inu coin Neiro and NEIRO on Binance is indeed a rare "spectacle" in the meme coin sector and can be seen as a "turning point" for the meme coin sector to some extent. This article provides a brief summary and analysis of the related events.
