BTC $79,072.21 +0.03%
ETH $2,479.69 -1.31%
BNB $693.24 -1.23%
XRP $1.39 -2.49%
SOL $104.45 -2.06%
TRX $0.3336 -2.05%
DOGE $0.0835 -3.28%
ADA $0.2000 -2.58%
BCH $248.79 -2.17%
LINK $11.46 -1.73%
HYPE $84.00 +0.68%
AAVE $123.98 -3.69%
SUI $0.7322 -3.76%
XLM $0.1790 -1.68%
ZEC $862.95 -0.96%
BTC $79,072.21 +0.03%
ETH $2,479.69 -1.31%
BNB $693.24 -1.23%
XRP $1.39 -2.49%
SOL $104.45 -2.06%
TRX $0.3336 -2.05%
DOGE $0.0835 -3.28%
ADA $0.2000 -2.58%
BCH $248.79 -2.17%
LINK $11.46 -1.73%
HYPE $84.00 +0.68%
AAVE $123.98 -3.69%
SUI $0.7322 -3.76%
XLM $0.1790 -1.68%
ZEC $862.95 -0.96%

for

All
Article
Flash

first_img Former SEC and CFTC officials call for regulatory easing to attract the return of crypto perpetual contracts

As the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) accelerate their rule-making efforts for the $2.5 trillion industry amid a legislative stalemate on cryptocurrency market structure during the summer recess, both agencies are advancing multiple crypto-related initiatives. These include re-evaluating the definitions of derivatives such as swaps and perpetual contracts, as well as rewriting the SEC's crypto custody rules.A bipartisan group composed of former CFTC Chairman Chris Giancarlo, former CFTC Commissioners Brian Quintenz and Sharon Brown-Hruska, former SEC Commissioner Steven Wallman, and former SEC Chief Economist Chester Spatt stated in a comment letter sponsored by Kalshi that similar risks should receive similar regulatory treatment, and overlapping rules should not impose additional compliance costs. Giancarlo noted that if federal regulation is calibrated based on actual risks rather than maximum burdens, liquidity will flow back to the U.S., and the longer we wait, the harder it will be to attract that liquidity back.Kalshi estimates that offshore perpetual contract trading volume will exceed $90 trillion by 2025, up from about $28 trillion two years ago. Additionally, the SEC last week submitted its plan to rewrite the custody rules for investment advisers and investment companies to the White House Office of Information and Regulatory Affairs for review, and its "Reg Crypto" proposal has officially entered the Federal Register, with a public comment period ending on October 20.

first_img BitMine has staked 5.07 million ETH, accounting for 4.9% of the total Ethereum supply

Bitcoin mining company BitMine Immersion Technologies stated in its latest staking disclosure that as of August 30, it has staked 5,067,309 ETH, valued at approximately $12.7 billion based on a price of $2,511. The company's disclosed staking balance remained unchanged from August 9 to 30, while it added 53,501 ETH in the latest week, bringing its total holdings to 5,901,112 ETH.BitMine indicated that its Ethereum vault accounts for about 4.9% of the total Ethereum supply of 120.7 million coins, and the company had previously set a target to acquire 5% of the total Ethereum supply. The company has set the annualized yield for its staking operations over the past seven days at 2.63%, stating that the annualized staking income corresponding to the current holdings is approximately $335 million; if the entire ETH balance is staked through its self-built network and staking partners at the same yield, the annualized staking rewards could reach $390 million.BitMine officially launched its self-built "Made in America Validator Network" (MAVAN) in April this year. In its April disclosure, the company mentioned that some staked ETH had already been deployed on MAVAN, but did not specify the exact amount. BitMine's staking holdings were 4,879,157 ETH at the beginning of July, surpassed 5 million on August 9, and have remained stable in the subsequent four weekly disclosures. The company's chairman, Tom Lee, has stated that BitMine's staked ETH amount exceeds that of any other entity.

first_img Kalshi permanently banned former Congressman Santos for his involvement in trading based on the State of the Union address

According to The Block, the prediction market platform Kalshi has permanently banned former U.S. Congressman George Santos, marking the first time the platform has imposed a permanent ban on an individual. According to a disciplinary action and settlement notice submitted on Monday, Santos violated platform rules by trading on a prediction contract regarding whether he would attend the State of the Union (SOTU) address and was fined over $71,000.Previously, the Commodity Futures Trading Commission (CFTC) accused Santos of using his public statements made two weeks before the SOTU to influence the prices of related event contracts and reached a $35,000 settlement with him. Santos's lawyer stated that he had booked a hotel and flight to Washington, believing he would attend the event. Santos served as a congressman representing New York from January 2023 until the end of the year, when he was expelled for ethical violations.As the prediction market grows to billions of dollars, concerns about insider trading are increasingly being raised. The CFTC recently fined former White House teleprompter operator Gabriel Perez $172,000 for profiting in Kalshi's "mention market" by using advance access to Trump's speech content. Legislators have proposed several bipartisan bills to restrict trading on non-public information, but they have not yet passed; platforms like Kalshi and Polymarket are taking preventive measures, such as requiring employment verification for sensitive market traders.

first_img The Fogo mainnet has been down for 46 hours due to the theft of 400 million FOGO, with no scheduled restart time

According to The Defiant, the Fogo mainnet has stopped producing blocks for about 46 hours since Saturday afternoon due to an attack on the Fogo Foundation, resulting in 4 million FOGO tokens (approximately 10.3% of the circulating supply) being transferred to the attacker's address. The foundation initially stated that the chain itself was unaffected, but 15 hours later, the network was actively paused, and plans were made to restrict the related addresses through an upgrade. Currently, the Fogo official explorer shows the last block as 718,525,971, and the RPC endpoint returns a 502 error, while the on-chain TVL tracked by DefiLlama has been frozen at $987,000 for three consecutive days.This downtime is attributed to Fogo's validator design: the chain is managed by a council of 7 voting validators, with the foundation staking evenly among 7 operators, allowing for coordination to pause and implement a client-level address blacklist within minutes. On the exchange side, both KuCoin and Gate have disabled FOGO deposits and withdrawals but retained trading, with a 24-hour spot trading volume of approximately $2.3 million. Meanwhile, a Twitter account impersonating the Fogo Foundation, @FcgoFNDN, posted a false compensation voting link, and Fogo officials reminded users to rely only on information from official channels.Fogo is the second network to actively pause over the weekend, following Cronos, which rolled back its state due to an attack on the Tectonic lending protocol. Fogo raised approximately $7 million by selling 2% of its supply through Binance before launching its mainnet in January, with a valuation of $350 million. The foundation has not yet disclosed details of the attack, compensation plans, or a restart timeline.

Gemini receives arbitration support: no liability for the collapse of the Earn lending program

According to CNBC, Gemini Space Station won a legal victory in August, with arbitrators ruling that the cryptocurrency exchange platform did not mislead users and is not responsible for the collapse of its Earn lending program. The claim was made by a user of the digital asset company's lending program Earn at the end of 2024. According to the ruling, there was insufficient evidence to prove that Gemini lied to customers or was negligent in its due diligence with its main lending partner, Genesis Global Capital.The Earn program was launched in 2021, allowing users to earn up to 7.4% annualized returns by lending cryptocurrency. Under this program, Gemini lent assets to institutional borrowers, with Genesis acting as an intermediary. However, in November 2022, Gemini suspended withdrawals from the Earn program, angering some of its more than 300,000 users. This move came shortly after Genesis suspended new loan issuance and redemptions due to a liquidity crisis caused by the downturn in the cryptocurrency market that year. After the freeze on Earn withdrawals, several customers filed legal complaints against Gemini. The New York Attorney General also sued Gemini over the Earn program and reached a $50 million settlement with the company in 2024.In February 2024, Gemini announced that the company had reached a "principled settlement" with Genesis and other creditors regarding the Genesis bankruptcy case. Three months later, Earn users received $2.18 billion in digital assets in physical form, equivalent to 97% of the digital assets owed to Earn users, which is $1 billion more than when Genesis suspended withdrawals in 2022.

first_img Samsung Electronics' operating profit in the third quarter may exceed 1 trillion won for the first time

According to a report by South Korea's Seoul Economic Daily on August 31, the prices of HBM and DRAM used in AI accelerators continue to rise. Data from the Korea Trade Association shows that DRAM export volume decreased from approximately 681.7 million units in May to 591.74 million units in July, a decline of 13.2%. However, the export value increased from $11.428 billion to $13.552 billion, a growth of 18.5%, with the export unit price rising from $16.76 to $22.9, an increase of 36.6%.The supply of HBM4 to customers such as Nvidia is expanding, but the initial yield is lower than that of HBM3E, exacerbating the overall DRAM supply shortage. Samsung Electronics' memory division is reportedly planning to allocate about 70% of its capacity to long-term supply agreements until 2031, with major clients including Nvidia, Microsoft, and Google. Mega Grid Supply data shows that the spot price for HBM3E 36GB is $2,100, approximately 4 to 5 times the long-term contract price; the spot price for HBM4 16-layer, which is in mass production coordination, is about $3,500.The financial investment community expects Samsung Electronics' third-quarter revenue to reach 206.64 trillion won and operating profit to reach 116.38 trillion won, with operating profit expected to exceed 100 trillion won for the first time. SK Hynix's third-quarter revenue is expected to be 101.76 trillion won, with operating profit of 79.16 trillion won. Samsung Electronics is considering converting its only wafer foundry line S5 in the Pyeongtaek campus to memory production as early as next year.

The Ministry of Industry and Information Technology has launched a special initiative to cultivate artificial intelligence application service providers

The Ministry of Industry and Information Technology of China has launched a special action to cultivate artificial intelligence application service providers, encouraging various regions to increase the procurement of large models, intelligent agents, and Token services through first purchase and first use, risk compensation, and other methods, while using tools such as "computing power vouchers" to reduce computing power costs.The Ministry of Industry and Information Technology will also establish a national resource pool for AI application service providers, aiming to exceed 2,000 by the end of 2026 and no less than 3,000 by the end of 2027. These service providers mainly help enterprises implement AI projects, with services ranging from early consulting, program design, to system development, integration delivery, and then to subsequent operation and maintenance and security governance.This policy also specifically names FDE. The Ministry encourages service providers to form FDE teams to directly address project implementation issues on-site with users. Various regions are also required to open real business scenarios, organize supply and demand matching, and turn high-frequency, essential business needs into standardized AI products that can be delivered repeatedly.
app_icon
ChainCatcher Building the Web3 world with innovations.