Weekly Report | ChainCatcher now supports switching between English, Japanese, and Korean languages, and has recently completed an app upgrade; Terraform Labs has been approved by the U.S. bankruptcy court to begin liquidation; Silicon Valley veteran Bradley Horowitz has joined the Circle board of directors
In-depth Research Report: Predicting Market Explosion, Analyzing Leading Players Polymarket and Azuro; Multicoin Co-founder Token2049 Speech: Why Solana Will Surpass Ethereum?; From Dogs, Hamster to Catizen, Who Will Be the Next Project to Land on Binance?Organizer: Luan Peng, ChainCatcher
"What Important Events Happened This Week (9.16-9.22)"
ChainCatcher announced that it now supports English, Japanese, and Korean language versions and has recently completed an app upgrade.
Previously, ChainCatcher had completed deep integration with the leading Web3 asset data platform RootData.
In the future, ChainCatcher will support more languages to provide users with a one-stop Web3 information data service.
2、Maryland Police: Phishing Scam Targeting Gmail Users Spreads, Scammers Extort Bitcoin
According to Bitcoin.com, Maryland police issued a warning that a phishing scam targeting Gmail users is spreading. Scammers extort Bitcoin by sending Google Maps photos containing the victims' addresses and threaten to disclose false damaging information.
Police explained that scammers typically threaten victims with blackmail, claiming to possess damaging information about them and threatening to disclose it if Bitcoin is not paid. Scammers usually offer two options: pay the ransom or face the risk of information leakage.
Similar scams have also occurred in California, Nevada, and other places.
3、Binance CEO: Task Force is Working Hard to Rescue Tigran Gambaryan, His Health is Concerning
According to Cointelegraph, Binance CEO Richard Teng stated that his team has been "working day and night" to bring back executive Tigran Gambaryan, who was arrested in Nigeria, due to his deteriorating health. "We have repeatedly called on the Nigerian government to release Tigran so he can go home and receive the proper treatment he needs."
"There is no need to detain our employee. He is being held unjustly and unfairly," Teng said at the TOKEN2049 conference in Singapore on September 19.
"This is painful for all of us," he said, "especially for his family. For Binance, this is our top priority. We have an internal task force working tirelessly to explore different avenues, from legal to political, to help Tigran return home."
Teng hopes the U.S. can designate Gambaryan as illegally detained to expedite the process. He added that Binance is also trying to appeal to the Nigerian government to release Tigran on humanitarian grounds.
He also mentioned that since being detained in Nigeria, Gambaryan has contracted malaria and pneumonia twice. His worsening health even caused him to faint during a court appearance in May.
4、Token2049 Launches Decentralized AI Association DAIS to Promote Safe and Beneficial AI
Token2049 launched the Decentralized AI Association DAIS, aimed at promoting safe and beneficial AI by fostering collaboration between cryptocurrency and other organizations working in the emerging decentralized AI ecosystem.
With the support of founding members CETI Al, Filecoin Foundation, Bloq, Hypercycle, Morpheus, Hemi, Odyssey, and Lumerin, the nonprofit DAIS will help the industry unite to overcome barriers in capital, engineering, policy, and public education to better compete with centralized models in the AI arms race. DAIS believes that AI must be open and decentralized to serve humanity, rather than the interests of a few tech giants.
5、Russian Man Charged with Treason for Sending Cryptocurrency to Ukraine
A Russian man has been arrested and faces treason charges for sending cryptocurrency to the Ukrainian armed forces. A video released by the FSB shows agents pinning the man to the ground and detaining him. According to Russian media, the cryptocurrency was allegedly used to "purchase weapons, ammunition, and military uniforms."
It is unclear what penalties the unidentified man would face if convicted.
6、UAE Blockchain and AI Company Capstone Technology Completes $5.45 Million Financing
UAE blockchain and AI company Capstone Technology has completed $5.45 million in financing to advance its GAYA blockchain project. The project aims to create a network for entrepreneurs in the gaming, AI, and entertainment sectors. Capstone Technology plans to use the funds to manage technical assets, develop Web3 applications, expand regional influence, and improve its platform.
At the Solana Breakpoint 2024 conference, PayPal's head of blockchain strategy and cryptocurrency, José Fernández, stated that Ethereum is not the best solution for the payments sector, which is why PayPal chose to issue stablecoins on the Solana network.
Fernández pointed out that Solana offers token scalability, lower transaction costs, and the ability to process 1,000 transactions per second, making it very suitable for mainstream adoption.
At the Solana Breakpoint conference, Chaos Labs Founder & CEO Omer Goldberg stated that their newly launched decentralized oracle protocol Edge has processed over $40 billion in transactions.
Reportedly, Edge is the main oracle for Jupiter, dynamically and in real-time adjusting on-chain risk parameters to enhance the responsiveness and efficiency of DeFi platforms in volatile markets, and supports secure on-chain delivery of custom data points.
According to data from Web3 asset data platform RootData, on September 19, Chaos Labs announced it received investment from PayPal Ventures; on August 15, Chaos Labs announced it secured $55 million in Series A funding led by Haun Ventures, with participation from F-Prime Capital, Slow Ventures, Spartan Capital, as well as Lightspeed Venture Partners, Galaxy Ventures, and PayPal Ventures.
9、Circle Co-Founder: Silicon Valley Veteran Bradley Horowitz Joins Circle Board
Circle co-founder Jeremy Allaire announced that Bradley Horowitz has joined the Circle board.
Bradley Horowitz is a seasoned product and business leader, entrepreneur, and notable seed investor in Silicon Valley. He previously led search and media infrastructure at Yahoo and was involved in the development of several popular products at Google.
Jeremy Allaire stated that Bradley's humility, enthusiasm, creativity, and wisdom will bring significant contributions to the company, and he looks forward to collaborating with him to build a new infrastructure platform for the internet economy.
10、Terraform Labs Receives Approval from U.S. Bankruptcy Court to Begin Liquidation
According to Reuters, Terraform Labs received approval from a U.S. bankruptcy court to begin liquidation on Thursday. U.S. Bankruptcy Judge Brendan Shannon approved Terraform's bankruptcy plan at a hearing in Wilmington, Delaware, calling it a "popular alternative" to continue litigation for investor losses. Terraform estimates that as part of the bankruptcy liquidation, it will be able to pay between $184.5 million and $442.2 million to cryptocurrency investors and other stakeholders.
Previous news indicated that the confirmation hearing for the Chapter 11 bankruptcy reorganization plan of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) is scheduled for September 19, 2024, at 10:00 AM Eastern Time (10:00 PM Beijing Time).
"What Exciting Articles Are Worth Reading This Week (9.16-9.22)"
1、In-Depth Research Report: Predicting a Market Explosion, Analyzing Top Players Polymarket and Azuro
With Polymarket, the top player in the prediction market, about to issue tokens, this report can help you further understand the prediction market.
2、Multicoin Co-Founder Token2049 Speech: Why Solana Will Surpass Ethereum?
With the rapid development of blockchain technology, Ethereum, which once led the industry, achieved great success. However, after nine years of development, Ethereum took five years to finalize its scaling plan and another seven years to complete the transition from proof of work (PoW) to proof of stake (PoS). Ethereum has never clearly stated what it wants to become. The scaling plan keeps changing without a clear direction.
In contrast to Ethereum's confusion, Multicoin co-founder Kyle Samani expressed great expectations for Solana's future in his keynote speech "Why SOL Will Flip ETH" at the Token2049 conference on September 19. The entire community has united around a common vision—"Decentralized Nasdaq"—moving in the same direction. Golden Finance has compiled the content of Kyle Samani's speech for readers.
3、From Dogs, Hamster to Catizen, Who Will Be the Next Project to Launch on Binance?
Since mid-August, Binance Launchpool has consecutively launched four rounds of projects related to the Ton ecosystem, starting with the native token Toncoin (TON) of the Ton chain, followed by the meme project Dogs (DOGS) within its ecosystem, and then the mini-games Hamster Kombat (HMSTER) and Catizen (CATI) for new token mining on September 12 and 13, allowing users to participate in HAMSTER and CATI token airdrop rewards by staking BNB and FDUSD.
On September 20, Binance officially opened trading for the Catizen token CATI.
As of September 20, Binance has launched six projects related to Ton, including the play-to-earn game Notcoin, the Telegram bot Banana Gun, the native token TON, the meme project Dogs, Hamster Kombat (HMSTER), and Catizen (CATI).
Among them, Dogs, Catizen, and Hamster Kombat are all star projects in the Ton ecosystem, and Binance's multiple proactive moves regarding its ecosystem projects seem to indicate that the competition for user traffic in the Ton ecosystem has begun.
Not only is Binance keen on launching Ton ecosystem projects, but it was also recently revealed that it has personally taken charge of the mini-game project Moonbix, which was later confirmed by the official source.
As a barometer of the crypto industry, Binance's frequent actions regarding Ton and its ecosystem projects have prompted users in the crypto community to reassess its ecosystem projects. Who will be the next project to launch on Binance? Which projects have potential? These have become hot topics of discussion in the crypto community.
As one of the important drivers for crypto to go mainstream, the DePIN ecosystem shows strong development momentum and has become one of the main investment lines for capital influx. However, at this stage, the expansion of the DePIN market scale is mainly driven by leading projects "striding" forward, and overall profitability is limited, facing risks such as regulation and cybersecurity.
Since its listing on Binance, Nerio (lowercase) has achieved over a 20-fold increase, showcasing Binance's listing effect while breaking the previous impression of continuous decline after Binance listed VC tokens. If listing on CEX is seen as the ultimate goal and a positive factor, which sectors' tokens are most advantageous? What is the actual listing effect of major exchanges? Odaily will summarize the listing situation of major exchanges since August 1 in this article, attempting to answer these questions.
6、The Shoe Drops! Federal Reserve Cuts Rates, Is a Bitcoin Bull Market About to Start?
The shoe has finally dropped. In the early hours of September 19, Beijing time, the Federal Reserve Committee announced a 50 basis point cut in the target range for the federal funds rate, lowering it to between 4.75% and 5.00%. This is the first rate cut by the Federal Reserve since March 2020, following 11 consecutive rate hikes from March 2022 to July 2023, totaling an increase of 525 basis points to alleviate domestic inflation in the U.S.
This means that U.S. monetary policy has shifted from tightening to easing, allowing Bitcoin to temporarily escape its sluggish state, rising back to $60,000 per coin before the rate cut decision, and subsequently surging to a nearly 20-day high. Today, cryptocurrency-related stocks rose in pre-market trading, with Coinbase (COIN.US) up over 3% and MicroStrategy (MSTR.US) up over 4%.
7、Don't Miss It! A Look at Important Project Updates Announced During TOKEN2049
On September 18, the highly anticipated annual Web3 summit TOKEN2049 officially kicked off in Singapore, gathering global Web3 leaders and bringing a wealth of highlights to the long-dormant crypto market.
During the conference, altcoins experienced a widespread surge, and many projects chose this time to announce important strategic plans. ChainCatcher has briefly summarized some important project updates.
8、Arthur Hayes Discusses Federal Reserve Rate Cuts: The Market May Face Unexpected Shocks
In an interview with CoinDesk's Markets Daily, BitMEX co-founder and Maelstrom CIO Arthur Hayes discussed the impact of the Federal Reserve's rate cuts, his views on this year's cryptocurrency market trends, and why he invests in Bitcoin ordinals and inscriptions.
Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, spoke with Markets Daily host Jennifer Sanasie and CoinDesk's technology and protocol executive editor Brad Keoun, sharing his views on whether a 25 or 50 basis point cut by the Federal Reserve would lead to financial turmoil or a short-term rebound. He also explored the potential impacts of government spending, inflation, and major economies' reliance on fiat currency systems, as well as Bitcoin's dynamics relative to traditional markets. The following record has been lightly edited for clarity.
Today, the U.S. will hold a Federal Reserve meeting. What do you think we will see? How will this affect the market?
Ethereum's transition to the PoS mechanism has long been considered beneficial for achieving monetary deflation and meeting the demands of larger-scale applications, which should support ETH's price increase. However, on the two-year anniversary of the transition, Ethereum faces numerous doubts. On the surface, these doubts mainly arise from ETH's poor performance in the recent market cycle, especially compared to BTC and SOL, whose price increases were below expectations.
But on a deeper level, these doubts reflect two major challenges Ethereum faces in its development: first, the competition and cooperation between Layer 1 and Layer 2, where the core issue is how to position the role of Layer 2 and its relationship with Ethereum; second, the contradiction between staking and liquidity, where the core issue is how to position ETH's attributes.
To further illustrate Ethereum's current development status and the challenges behind the doubts, PANews' data column PAData conducted a comprehensive analysis of Ethereum's fee changes, Blob fees, and Layer 2 demand changes, as well as changes in Ethereum's staking and locked amounts, finding: first, Ethereum has reduced fee prices, but Layer 2 has diverted on-chain activity demand and interacts with Ethereum at lower prices, leading to challenges in ETH's value feedback and accumulation. Second, if ETH is positioned as a settlement currency, expecting Ethereum to have long-term sustainable high demand to achieve long-term stable appreciation of ETH, the market's willingness to pay for this long-term expectation may waver in the face of fierce competition.
10、Quick Overview of zkTLS: Secure Information Transmission, the Next ZK Narrative?
Blockchain Oracles: Blockchain APIs for Public Data
zkTLS: Blockchain APIs for Any Data
Zero-Knowledge Transmission Layer Services (zkTLS) could be a fatal blow to the closed networks of corporate giants. Emerging networks now have the capability to compete with giants like Facebook and Amazon by leveraging zkTLS.
zkTLS allows users to migrate any identity information they have on the internet without permission, providing a powerful way for new networks to leverage existing networks. It enables users to switch freely between different platforms without starting from scratch. Most importantly, it achieves this without compromising data privacy and security.
