According to ChainCatcher news and the official announcement, Binance will launch Binance Wealth, aimed at supporting wealth managers and their high-net-worth clients interested in expanding their cryptocurrency asset investment portfolio. It primarily caters to the needs of wealth managers, further connecting traditional markets and the crypto market, encouraging both institutional and private wealth to increasingly engage in the cryptocurrency asset space.

ChainCatcher news, according to Hong Kong media East Network, the Hong Kong Securities and Futures Commission (SFC) discussed regulatory guidelines for crypto assets, tokenization, and artificial intelligence with representatives from 12 Asia-Pacific securities market regulatory agencies.In addition, the Hong Kong SFC also hosted the first meeting of the International Organization of Securities Commissions (IOSCO) Asia-Pacific Committee's Supervisory Directors Network, where, in addition to discussions, there was sharing of the latest market developments and observations from the business community. A commercial bank also conducted a live demonstration of artificial intelligence applications.

According to ChainCatcher news, data submitted by the Financial Supervisory Service of South Korea on October 22 shows that from January 2018 to August 2024, the five major South Korean exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax) listed a total of 1,482 cryptocurrency assets, of which 517 (34.9%) were delisted.The average listing time for these delisted 517 cryptocurrency assets was 748 days (about 2 years and 18 days), but more than half (54.0%) of the cryptocurrency assets were delisted in less than two years. There were 107 tokens (20.7%) that even failed to last a year. The shortest listing time was for DigixDAO (DGD), which was delisted in January 2018, with a listing time of 77 days.

ChainCatcher news, according to monitoring by IntoTheBlock, USDT and USDC currently account for nearly 50% of the total trading volume of major crypto assets, highlighting the key role that stablecoins play in providing liquidity and stability to the market.

ChainCatcher news, Mossfire Capital co-founder Raymond Huang, during the Space event "With the Bull Market Approaching, How Can Secondary Investors See Through Market Fog?" hosted by RootData, stated that although the interest rate cut policy was officially implemented last month, the expectations for rate cuts had already begun to take effect a year ago. He pointed out that the Crypto market is more sensitive to the Federal Reserve's liquidity policy, and without the support of macro policy "easing," it is difficult for the market to rise.Raymond Huang expects that interest rates will continue to decline over the next year to year and a half, which will have a significant impact on crypto assets as a fringe asset.

ChainCatcher news reports that former Philippine mayor Alice Guo is associated with the now-defunct Atom Asset Exchange (AAX), which laundered money and stole customers' crypto assets in 2022.Additionally, Hong Kong police stated that Su Weiyi is the "mastermind" behind AAX, which once had over 2 million users and is now closed. He is accused of absconding with at least $2.15 million of customer cryptocurrency. However, a petition claims that this figure is at least $30 million. Su Weiyi co-owns other companies with partners linked to convicted felons Alice Guo and Huang Zhiyang (Baofu partner).Guo faces 87 charges of money laundering, as well as charges of operating an illegal gambling syndicate and human trafficking. If convicted, she and her accomplices could face up to 1,218 years in prison. Guo denies all charges.

ChainCatcher news, according to Cointelegraph, a recent report by Chainalysis indicates that stablecoin transactions now account for 43% of the total cryptocurrency trading volume in Sub-Saharan Africa, primarily due to the devaluation of local currencies leading to a surge in demand for stablecoins. The significant devaluation of currencies in Nigeria and Ethiopia has driven the widespread use of stablecoins, particularly in Nigeria, where the cryptocurrency trading volume reached approximately $59 billion over the past year, with 85% of transactions being below $1 million.The report also noted that stablecoins are gradually replacing Bitcoin as the most accepted cryptocurrency asset in South Africa.

ChainCatcher news, according to The Block, Bitwise Chief Investment Officer Matt Hougan stated that an increasing number of top financial advisors are allocating cryptocurrency assets in their personal investment portfolios.At the Barron's Advisor 100 Summit held in Florida last week, Hougan mentioned that about 70% of advisors own Bitcoin or other cryptocurrency assets, while in the previous two years, this figure was only 10%-20%.Although many advisors' client accounts have not yet allocated Bitcoin, Hougan predicts that as advisors increase their personal allocations, client investments will follow closely behind, potentially seeing significant changes within 6 to 12 months. He believes this is an important signal of the financial industry's growing acceptance of cryptocurrency.

ChainCatcher news, on-chain detective ZachXBT posted on platform X, revealing a significant cryptocurrency asset theft case targeting Genesis creditors.On August 19, 2024, three hackers stole $243 million worth of cryptocurrency assets from a Genesis creditor through a highly sophisticated social engineering attack. According to ZachXBT's investigation, the attackers first impersonated Google customer service, deceiving the victim over the phone and successfully breaching their personal account. Subsequently, they posed as support staff from the Gemini exchange, claiming the account had been hacked, and tricked the victim into resetting two-factor authentication and transferring funds from their Gemini account to a controlled wallet. Finally, the hackers lured the victim into using AnyDesk remote desktop software to share their screen, thereby stealing the private keys to the Bitcoin Core wallet.ZachXBT confirmed three main suspects: Veer Chetal (alias Wiz), Malone Iam (alias Greavys), and Jeandiel Serrano (alias Box). Among them, Veer received the largest share of the loot, approximately $34.5 million. Malone lived a lavish lifestyle in Los Angeles and Miami, spending between $250,000 and $500,000 daily, even gifting women Hermes handbags. Jeandiel was responsible for impersonating Gemini customer service to carry out the fraud.Currently, over $9 million in funds have been successfully frozen, with more than $500,000 returned to the victims. Malone and Jeandiel have been arrested in Miami and Los Angeles, respectively. Law enforcement expects to seize more funds during the arrests, as a significant amount of fund transfers were observed before and after the arrests.

ChainCatcher news, Binance CEO Richard Teng commented on the expectations of interest rate cuts, stating, "We expect that the expectations of interest rate cuts will have a significant impact on the prices of crypto assets. Lower interest rates enhance the liquidity of the financial system, thereby boosting the demand for high-yield, high-risk assets, including cryptocurrencies. For example, from February 2020 to February 2022, when interest rates were near zero, the price of Bitcoin increased by 375%.Lower interest rates may raise concerns about inflation, prompting some investors to turn to cryptocurrencies to protect their purchasing power; low rates may also weaken the dollar, leading more investors to view crypto assets as an alternative store of value. Bitcoin and other crypto assets have unique characteristics that may influence their prospects during periods of interest rate cuts. One key factor to consider is the recent Bitcoin halving, as historically, price increases have generally occurred 6-18 months after similar events. The launch of spot ETFs could also facilitate easier transitions between stocks and cryptocurrencies, allowing the liquidity growth brought by interest rate cuts to flow into the crypto market.Moreover, while September is typically a weak month for crypto assets, prices usually begin to rebound in October, and the expectations of interest rate cuts may provide additional momentum as prices recover. The impact of the Federal Reserve's interest rate cuts on the crypto asset market remains uncertain, but several indicators suggest that the policy changes in September may be timely for cryptocurrency investors. Lower borrowing costs and increased liquidity present a hopeful outlook for crypto assets. Historical trends and unique cryptocurrency-specific variables further enhance optimism that these policy changes could foster growth."

ChainCatcher news, according to The Block, Bitwise's Head of Research for Europe, André Dragosch, stated: "If the Federal Reserve cuts rates by 50 basis points, the reaction in the crypto market could be positive, as this particular leading indicator has already shown that potential economic momentum in September may even have accelerated. I believe that in the coming months, the market will be driven more by expectations of rate cuts rather than the cuts themselves. Given the weakness of the U.S. economy and the impending recession, expectations for further rate cuts may intensify, and we anticipate this will have a net positive effect on Bitcoin and crypto assets."

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal disclosed that in footnote 6 of the amended complaint submitted by the SEC against Binance, it states: "As this Court pointed out and the SEC reiterated, when the SEC uses the term 'crypto asset securities,' it does not mean that the crypto assets themselves are securities; rather, as the SEC has consistently maintained since the first crypto asset Howey case, the term is merely a shorthand.See Telegram case, while it is helpful as a shorthand reference, the securities in the case are not just crypto assets; they are merely an alphanumeric code sequence. The securities in the case include the complete contracts, expectations, and understandings surrounding the sale and distribution of crypto assets.However, to avoid any confusion, the amended complaint no longer uses this shorthand term, and the SEC regrets any potential confusion."

ChainCatcher news, regarding Coinbase Chief Legal Officer Paul Grewal's post on platform X disclosing that the SEC previously made misleading statements about the classification of tokens, specifically noted in footnote 6 of Binance's amended complaint that "the SEC regrets any confusion it may have caused," referring to the SEC's earlier erroneous declaration that the tokens themselves are securities.Ripple Chief Legal Officer Stuart Alderoty responded that the SEC's actions actually acknowledge two points: first, that "crypto asset securities" is a fictional term; second, that to prove crypto assets are investment contracts, the SEC needs a series of evidence regarding "contracts, expectations, and understandings." He also stated that the SEC has indeed fallen into a contradictory predicament.

ChainCatcher news, according to The Block, the UK government submitted a bill to Parliament on September 11, aiming to officially define crypto assets (including NFTs and RWAs) as property. Minister of State for the Ministry of Justice, Heidi Alexander, stated that previously digital assets were not clearly defined within the property law framework in England and Wales, leaving asset owners in a legal gray area. If the bill is passed, it will introduce a third category of property in addition to the existing "real property" and "rights property," granting specific digital assets personal property rights.Alexander emphasized that the bill aims to maintain the UK's leading position in the global crypto space and attract more businesses and investments. Digital assets contribute £34 billion to the UK economy each year. The bill is a response to the UK Law Commission's 2023 report, which noted that while digital assets do not fall under real property or rights property, they should be regarded as property.

ChainCatcher news, according to Crowdfund Insider, BitGo announced that it has become the custodian under the regulatory framework for crypto assets of the SIX Exchange.It is reported that BitGo Europe will provide regulated custody solutions.