ChainCatcher news, the Cardano Foundation released its first financial insights report on Wednesday, detailing expenditures in operations, education, and adoption for 2023. The foundation allocated $19.22 million to these three areas and additionally spent $4.55 million on central operating costs.As of December 31, 2023, the total assets of the Cardano Foundation amounted to $478.24 million, of which 82.5% is in ADA, 10.1% in BTC, and the remainder in USD liquidity. According to TradingView data, BTC has risen by 109% since the beginning of this year, while ADA has depreciated by 9%.

ChainCatcher news, according to IntoTheBlock, the NVT ratio of Cardano has risen to its highest level since June, indicating that on-chain activity has decreased relative to price growth.Historically, the NVT ratio tends to rise before a price pullback. Without more on-chain participation, Cardano's price may struggle to maintain momentum.

ChainCatcher news, Cardano founder Charles Hoskinson has changed his stance on Bitcoin and announced that Cardano L1 will transform into Bitcoin L2.

ChainCatcher news, according to Cointelegraph, Cardano has announced the completion of integration with the smart contract platform BitcoinOS, bringing over $1.3 trillion in Bitcoin liquidity to its decentralized finance (DeFi) ecosystem.It is reported that the integration will utilize zero-knowledge (ZK) cryptography technology to achieve a trustless connection between Bitcoin assets and Cardano through the BOS Grail bridging protocol. This protocol employs BOS's ZK BitSNARK verification protocol, allowing Bitcoin transactions and assets to bridge to the Cardano blockchain without sacrificing decentralization and security.Ken Kodama, CEO of Emurgo, the leading organization in Cardano's Web3 adoption, stated that this integration "has the potential to unlock new cross-chain functionalities" and may drive the adoption of DeFi. He emphasized that BOS's bridging and zero-knowledge technology will provide a secure and trustless access route for Cardano's "users, projects, and developers" to Bitcoin.Notably, BOS has partnered with the layer two scaling solution Merlin Chain to deploy the BitcoinOS Grail bridging protocol on September 10. Merlin Chain founder Jeff Yin stated that this collaboration will provide users with "trustless, decentralized" bridging services for Bitcoin native assets, enabling cross-chain transactions without centralized security measures through zero-knowledge proofs directly written to the Bitcoin blockchain.

ChainCatcher news, according to Bitcoin.com News, Argentine judicial authorities have recently recognized the legal validity of blockchain-based smart contracts for the first time, marking a significant breakthrough in the country's application of blockchain technology. This decision grants smart contracts legal enforceability in Argentina, paving the way for their use in commercial areas such as lease agreements and purchase payments.It is reported that the first legally recognized smart contract is a loan agreement built on the Cardano blockchain. The contract was reached by two Argentine Cardano ambassadors, Mauro Andreoli and Lucas Macchia, involving a four-month loan of 10,000 ADA (approximately $3,430) at an annual interest rate of 10%.Andreoli stated, "We have just signed the first contract on the Cardano network that is fully compliant with the laws of the Argentine Republic and has legal and judicial binding force." He emphasized that this means any breach of contract can be enforced in court to fulfill obligations in ADA. To ensure the legal validity of the smart contract, both parties also signed a supplementary legal document detailing the contract's content, the blockchain used, and the transaction ID of the relevant wallet addresses. This practice may become the standard procedure for the legalization of smart contracts in the future.

ChainCatcher news, Cardano founder Charles Hoskinson stated that the governance reforms of the Voltaire era prevent the chain from becoming a "dictatorship" like Ethereum and avoid Bitcoin's "anarchy." In an interview in Singapore, Hoskinson criticized Ethereum's current governance model, claiming that Ethereum relies too much on its co-founder Vitalik Buterin to guide its direction. When asked to explain his controversial remarks linking Ethereum to dictatorship, Hoskinson stated that Ethereum's "entire vision" began with Buterin but will also end with him.

ChainCatcher news, according to Bitcoinist, Charles Hoskinson, co-founder of Cardano and Ethereum, expressed deep concerns about former President Donald Trump's new DeFi platform venture (i.e., World Liberty Financial).In an interview, Hoskinson stated that this investment is likely to become a political hot topic. This could exacerbate the already delicate situation of cryptocurrency regulation in the United States.Hoskinson's biggest concern is the political polarization triggered by Trump in the cryptocurrency space. According to him, "Everything Trump does will provoke strong opposition from the left," indicating that Trump's actions may provoke strong backlash from the Democratic Party.This could lead to investigations by regulatory bodies such as the Department of Justice or the Securities and Exchange Commission, potentially stifling innovation and growth in the industry.

ChainCatcher news, Cardano founder Charles Hoskinson will meet with Argentine President Javier Milei to discuss the cryptocurrency economy. Charles Hoskinson will travel to the Argentine Technology Forum to engage in dialogue with the president on October 19, discussing the future of blockchain.Charles Hoskinson hopes to discuss the potential of blockchain to change the global economy, political, and social systems. He will also raise questions such as Argentina's values and needs in the technological context, whether the country has chosen the path of Central Bank Digital Currency (CBDC), and what kind of partners it has to rebuild its economy.

ChainCatcher news, the decentralized AI platform SingularityNET has released updates regarding the CNT-AGIX migration, Cardano-Ethereum bridging, and staking issues on X.Staking Withdrawal Issues: If resolved before the reward distribution phase starts at 9:00 AM UTC on September 16, 2024, please ensure the migration is completed before the eligibility snapshot at 2:00 PM UTC on September 19, 2024; if not resolved by 9:00 AM UTC on September 16, 2024, please contact the support team immediately for direct assistance; users will not be able to withdraw their tokens before the end of the reward distribution phase at 9:00 AM UTC on September 19, and there will be a 5-hour window to unstake and convert their tokens before the voting eligibility snapshot at 2:00 PM UTC that same day.Migration/Bridging Issues: Users should wait a few hours for the issues to resolve themselves. If the problem is not resolved within 12 hours, please navigate to contact the support team.Hardware Wallet Issues: Users should ensure that their hardware wallets and related applications are updated to the latest firmware version; further updates will be provided on Monday, September 16, 2024.

ChainCatcher news, Cardano founder Charles Hoskinson publicly opposed the destruction of over 1.5 billion ADA tokens, valued at approximately $500 million, on the blockchain network. Hoskinson pointed out in a social media post last night that these assets are not pre-mined tokens, but rather generated through block production and transactions. He believes that destroying these assets amounts to stealing from stake pool operators (SPOs) and ADA holders.On September 1, Cardano completed the first phase of the Chang hard fork, with some community members supporting the destruction of tokens to boost the ADA price, while others warned of potential dangers.One of Cardano's decentralized representatives, Jaromír Tesař, believes that destroying assets would be a "terrible mistake," suggesting that these funds could be better used to support the development of Cardano.

ChainCatcher news, according to DL News, Cardano blockchain founder Charles Hoskinson stated in a post on X that after the Brazilian Supreme Court banned Elon Musk's social media platform X, he plans to launch a decentralized social media platform in Brazil.He stated: "Although Brazil has silenced our X platform's siblings, their work will continue and is important for all of us. I can't wait to recruit many Brazilians to help us build a decentralized social network."It is reported that the X platform has 20 million users in Brazil, but after the court ordered the suspension of the platform, many users in Brazil have been unable to access it due to Musk's refusal to designate a legal representative to handle matters related to the Brazilian government.

ChainCatcher news, Cardano has completed the first phase of the Chang hard fork, laying the foundation for more decentralized governance. Cardano has officially begun the transfer of control of its $13 billion blockchain to its native ADA token holders. Frederik Gregaard, CEO of the Cardano Foundation, stated, "Many in the Cardano community lean towards this network because it promises to adopt a decentralized governance model."

ChainCatcher news, according to official sources, Cardano (ADA) is expected to undergo a network upgrade and hard fork on September 2, 2024, at 05:45 (UTC+8). Binance is expected to suspend token deposits and withdrawals for Cardano (ADA) one hour in advance, at 04:45 (UTC+8) on September 2, 2024, to support its network upgrade and hard fork.

ChainCatcher message, South Korean cryptocurrency exchange Upbit announced that it will temporarily suspend ADA deposit and withdrawal services in conjunction with the Cardano (ADA) network upgrade.The suspension period will start from September 1, 2024, at 13:00 Beijing time, until the stability of the network upgrade is confirmed. Upbit stated that in addition to deposit and withdrawal services, ADA staking applications will also be suspended simultaneously.

ChainCatcher news, according to CoinDesk, the Cardano blockchain is about to undergo its largest upgrade in two years, the "Chang hard fork," which primarily aims to introduce an on-chain governance mechanism.Holders of ADA will be able to elect representatives (dReps) and vote on improvement proposals and future technological changes.This upgrade was originally scheduled for this week, but has been postponed to September 1 due to some exchanges needing time to prepare their systems. The Chang hard fork is part of Cardano's "Voltaire era," which aims to achieve a self-sustaining blockchain governed by the community. This upgrade also includes the core improvement proposal CIP-1694, which will strengthen community control over the network through governance structures such as the constitutional committee, dReps, and staking pool operators.

ChainCatcher message, the Cardano Foundation announced on social media that Binance Pay now supports ADA payments to merchants, with instant settlement available and coverage for over 30 million users worldwide.

ChainCatcher news, according to Cointelegraph, U.S. presidential candidate Robert F. Kennedy Jr. recently proposed the idea of making Bitcoin a reserve asset for the United States. He stated that he would sign an executive order requiring the U.S. Treasury to purchase a total of 4 million Bitcoins.In response, Cardano founder Charles Hoskinson stated that while a strategic Bitcoin reserve could benefit price trends, if the U.S. Treasury were to control 19% of the BTC supply as he suggests, it would pose a significant centralization risk to Bitcoin.