Daily Report | Binance will launch EIGEN; SecondLive completes $12 million financing; Taiwan opens up to professional investors investing in foreign virtual asset ETFs

Organizer: Fairy, ChainCatcher

Important News:

• Binance to List EigenLayer (EIGEN)
• Taiwan Opens Up for Professional Investors to Invest in Foreign Virtual Asset ETFs via Re-Delegation
• Metaverse Project SecondLive Completes $12 Million Financing, Led by Crypto.com
• FTX Plans to Allocate $230 Million to Compensate Preferred Shareholders, Confirmation Hearing for Restructuring Plan Scheduled for October 7
• YuanCoin Technology Completes $7.8 Million Series A1 Financing, Participated by Sequoia China and Others
• Matrixport Acquires Swiss Compliant Crypto Asset Management Company Crypto Finance (Asset Management) AG (CFAM)
• Binance Pool Launches Bellscoin (BEL) Merged Mining, Mining LTC to Earn LTC, BEL, DOGE Rewards

"What Important Events Happened in the Last 24 Hours"

Binance to List EigenLayer (EIGEN)

According to an official announcement, Binance will list EigenLayer (EIGEN) on October 1, 2024, at 05:00 (UTC), and will open trading pairs EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD, and EIGEN/TRY.

Taiwan Opens Up for Professional Investors to Invest in Foreign Virtual Asset ETFs via Re-Delegation

Taiwan's "Financial Supervisory Commission" announced the opening for professional investors to invest in foreign virtual asset ETFs via re-delegation. Eligible professional investors include: professional institutional investors, high-net-worth investment entities, high-asset clients, legal entities or funds that qualify as professional investors, and natural persons who qualify as professional investors.

To ensure that investors have sufficient investment experience and knowledge, securities firms must establish a comprehensive suitability assessment system, which must be reviewed and approved by the board of directors when providing virtual asset ETF services. Before a client makes their first purchase of a virtual asset ETF, the securities firm must assess whether the client has relevant investment experience and professional knowledge to ensure the suitability of the client's investment risk.

Apart from professional institutional investors, other investors must sign a risk disclosure statement before their first purchase of a virtual asset ETF. Securities firms must provide relevant product information to investors before accepting their first purchase of a virtual asset ETF to help them fully understand the characteristics and related risks of the virtual asset ETF they are investing in.

Federal Reserve Chairman Powell to Speak at the National Association for Business Economics at 01:55 AM Beijing Time

At 01:55 AM Beijing Time, Federal Reserve Chairman Powell will speak at the National Association for Business Economics. During this uncertain period filled with "noise," Powell may indicate the future policy direction of the Federal Reserve—how the "timely rain" of interest rate cuts will continue to unfold, which may lead to significant market fluctuations. Investors are advised to pay attention to related risks.

Metaverse Project SecondLive Completes $12 Million Financing, Led by Crypto.com

The metaverse project SecondLive announced the completion of a $12 million private financing round, led by Crypto.com, with participation from Capital Spark, Cypher Capital, Meta Estate, Taisu Ventures, New Tribe Capital, Bit Value Capital, Titans Ventures, Newave Capital, CSP DAO, and others.

This brings SecondLive's total financing to $15 million, with Binance Labs leading the seed round. SecondLive is active on eight major blockchains including BNB Chain, Ethereum, and TON, with over 5 million registered users and 1.81 million UGC and AIGC digital assets. Its GenAI technology is driving innovation in scenarios, characters, and social interactions, contributing to the development of spatial networks.

YuanCoin Technology Completes $7.8 Million Series A1 Financing, Participated by Sequoia China and Others

According to official news, YuanCoin Technology announced the completion of $7.8 million in Series A1 financing. In this round, YuanCoin Technology received strategic investments from well-known industry players including Sequoia China, Hivemind Capital, Aptos Labs, Hash Global, SNZ Capital, Solana Foundation, Anagram, and Upward Capital. YuanCoin Technology stated that this round of financing will connect the company to the Web 2 and Web 3 worlds and continue to contribute to the construction of the Web 3 ecosystem in Hong Kong.

It was introduced that on July 18, 2024, YuanCoin Technology announced that its subsidiary YuanCoin Innovation Technology Co., Ltd. has been included in the Hong Kong Monetary Authority's (HKMA) stablecoin issuer sandbox program. Meanwhile, another subsidiary, YuanCoin Wallet Technology Co., Ltd., has obtained a Stored Value Facility (SVF) license issued by the HKMA and will officially operate by the end of 2023. This Series A1 financing is another significant advancement for YuanCoin Technology following its seed round financing in 2020. YuanCoin Technology has consistently received support from original shareholders such as ZhongAn Digital Asset Group, HashKey Group, Dragonfly, Bright Venture, and Eminent Vision.

Binance Pool Launches Bellscoin (BEL) Merged Mining, Mining LTC to Earn LTC, BEL, DOGE Rewards

Binance Pool has officially launched Bellscoin (BEL) merged mining. Users can mine Litecoin (LTC) to earn rewards in LTC, DOGE, and BEL.

FTX Plans to Allocate $230 Million to Compensate Preferred Shareholders, Confirmation Hearing for Restructuring Plan Scheduled for October 7

According to The Block, under a newly disclosed agreement, FTX debtors will allocate up to $230 million from the proceeds of government seizure actions to compensate preferred shareholders. This agreement was finalized after the deadline for FTX creditors to vote on the claims plan and was announced 30 days later, surprising and angering some creditors. On August 16, creditors overwhelmingly approved the FTX restructuring plan, but they were unaware of this clause. Although shareholders typically receive compensation last in bankruptcy proceedings, FTX debtors stated that compensating preferred shareholders would help avoid high litigation costs and delays associated with the seized proceeds.

Additionally, according to the latest FTX bankruptcy documents, the claims plan has not yet been approved by the court. The next court hearing to confirm the restructuring plan is scheduled for October 7, 2024. If the plan is approved, creditors with claims under $50,000 may begin receiving compensation by the end of 2024. Those with larger claims may have to wait until the first or second quarter of 2025 to receive compensation.

Matrixport Acquires Swiss Compliant Crypto Asset Management Company Crypto Finance (Asset Management) AG (CFAM)

Matrixport announced the formal completion of a cash acquisition of Swiss compliant crypto asset management company Crypto Finance (Asset Management) AG (CFAM).

CFAM will be renamed Matrixport Asset Management AG (MAM) and will provide compliant crypto asset management services for the pan-European market, laying the groundwork for Matrixport's global compliant asset management.

Musk: If Trump is Not Elected, This Will Be the Last Democratic Presidential Election in the U.S.

Musk stated on his social media platform that few Americans realize that if Trump is not elected, this will be the last democratic election.

If one-twentieth of illegal immigrants become citizens each year (which the Democrats are pushing for as quickly as possible), there will be about 2 million new legal voters in four years. The vote margin in swing states is often less than 20,000 votes. This means that if the "Democrats" win, there will no longer be swing states.

Moreover, the Biden/Harris administration has also been airlifting "asylum seekers" directly to swing states like Pennsylvania, Ohio, Wisconsin, and Arizona, allowing them to quickly gain citizenship. This is a foolproof way to win every election. The U.S. will become a one-party state, and democratic institutions will cease to exist. The only "election" will be the Democratic primary. This situation has already occurred in California for many years after the 1986 amnesty.

"What Interesting Articles Are Worth Reading in the Last 24 Hours"

FTX Compensation Imminent: Compensation May Be Less Than a Quarter, Shareholders "Cut in Line" for Distribution of $230 Million

Recently, the latest developments in the FTX bankruptcy case have sparked debates and panic among some in the crypto community. Initially, creditors might only receive 10-15% of their assets, while shareholders "forcefully cut in line" for the distribution of $230 million in assets; later, rumors surfaced that FTX would begin distributing repayment funds to creditors and customers on September 30, causing FTX's FTT token to surge over 80% within 24 hours, peaking at $2.71 and currently trading at $2.14.

The newly revised bankruptcy documents have drawn public outrage.

Previously, according to the FTX bankruptcy plan that received "overwhelming preliminary support" from creditors, 98% of creditors would receive at least 118% of their claim value in cash.

However, on September 28, FTX creditor representative Sunil Kavuri disclosed the latest revised bankruptcy documents on the X platform disclosed, stating that the refund amount would be based on the value of cryptocurrencies at the time FTX submitted its application, meaning creditors would actually receive "10% to 25% returns on their cryptocurrencies." For example, Bitcoin was only about $16,000 at that time.

This decision left many creditors disappointed and even sparked anger among FTX creditors.

Good News Continues, Tokens Rise 50% This Month, Is ZKsync's Revival Moment Finally Here?

Since the airdrop landed, ZKsync has been plagued by bad news, with ecosystem data rapidly declining and token prices following suit, dropping from a high of $0.29 after launch to as low as $0.08, a decrease of 72.8%. Not only that, but there were also reports of a 16% staff layoff.

However, since September, new developments from ZKsync have been frequently reported, including hiring a Chief Marketing Officer from Solana, launching an on-chain governance system, and welcoming the migration of Treasure DAO. It seems ZKsync is on the verge of revival. PANews provides a comprehensive analysis of ZKsync's recent developments to see if this once highly anticipated star L2 is about to experience a resurgence.

DeSci Leader Also Gets Creative, Can Pump.science Successfully Play the "Biological Science Meme"?

At the Token 2049 Solana Breakpoint conference, the Solana ecosystem DeSci platform Molecule DAO launched a new meme token platform Pump.Science. Unlike other meme token platforms, Pump.science's feature lies not in its token issuance mechanism; medical researchers can submit drug research proposals on Pump.science, then test the drugs on worms and transmit the results to the platform's front end. In this process, users can participate in the testing process by trading meme tokens that represent the drugs.