ChainCatcher news, according to Cointelegraph, the DEX Mango Markets on the Solana chain is gradually winding down its operations after reaching a settlement with the SEC, conducting governance votes, and addressing legal issues arising from the 2022 exploit. Yesterday, Mango Markets announced through its X account, "It's time to close the platform and let users close their positions." This move follows the request in the governance proposal to "adjust interest rates and collateral," ending the lending exposure on the platform, which will take effect on January 13.On September 27, 2024, the SEC filed settlement charges against Mango DAO and Blockworks Foundation, accusing them of selling unregistered securities. According to the SEC, Mango raised over $70 million by selling MNGO governance tokens in August 2021, violating the Securities Act of 1933. The SEC also accused Mango Labs of acting as an unregistered broker, violating the Securities Exchange Act of 1934. As part of the settlement agreement, Mango DAO agreed to pay a $700,000 civil penalty, destroy MNGO tokens, and petition trading platforms to delist the tokens. According to DefiLlama data, Mango Markets' TVL is $9 million, down 95.7% from its all-time high of $210 million in November 2021.The closure of Mango Markets can be traced back to October 2022, when cryptocurrency trader Avraham "Avi" Eisenberg stole over $100 million from the platform. Eisenberg subsequently returned $67 million, retaining $40 million of it. U.S. authorities arrested Eisenberg in December 2022, charging him with fraud and market manipulation. Eisenberg has been detained since his arrest, with sentencing repeatedly postponed to April 10, 2025, facing up to 20 years in prison, along with civil enforcement actions from the SEC and the Commodity Futures Trading Commission.

ChainCatcher news, the cross-chain settlement layer Union has announced the launch of the Union Foundation. The Union Foundation is an independent organization dedicated to building a safer, decentralized, and interoperable Web3. Its core focus is to fund initiatives that support the Union network and to incentivize its development through maintenance, continuous development, and the creation of decentralized applications (dApps), including grant programs and the Union Fellowship program. The Union Foundation has announced that a token economic model will be released soon, and the Union mainnet is also set to launch.

ChainCatcher news, according to Cointelegraph, in 2024, the transaction volume settled through the Bitcoin network will exceed $19 trillion, more than double the $8.7 trillion settled by the network in 2023, reversing the trend of declining transaction volume over the past two years since 2021.According to data from Pierre Rochard, Vice President of Research at mining company Riot Platforms, Bitcoin transaction volume peaked during the 2021 bull market at approximately $47 trillion and sharply declined in 2022 and 2023.

ChainCatcher news, according to DLNews, Solana co-founder Stephen Akridge is accused of hiding millions of dollars in staking rewards during his "bitter" divorce from ex-wife Elisa Rossi. Rossi has filed a lawsuit in California state court seeking the withheld staking rewards. The couple's marriage lasted nearly a decade, during which they accumulated significant wealth, primarily from Akridge's founding role at Solana Labs.According to the lawsuit, Rossi claims the divorce process was "long and contentious." As part of the divorce agreement, she was entitled to a share of the profits from SOL tokens, but Akridge did not hand over the staking rewards, resulting in her losing "millions of dollars." After learning that Akridge had concealed these staking rewards, Rossi reached out to him multiple times requesting their return, but received indifferent responses.

ChainCatcher news, Fnality International announced the appointment of Michelle Neal as the new Chief Executive Officer. Neal is currently the Executive Vice President and Head of Markets at the New York Federal Reserve Bank (NY Fed) and will join Fnality in the first quarter of 2025. She has industry experience at BNY Mellon, Deutsche Bank, Nomura, Royal Bank of Canada, and Royal Bank of Scotland.Fnality is a DLT settlement platform that launched the Sterling Fnality payment system last year, supported by 20 global institutions. Angus Fletcher is the CEO of Fnality UK. The company's system relies on a comprehensive central bank account that holds funds to support tokenized central bank currency. The platform plans to launch dollar and euro solutions, which require approval from the relevant central banks.

ChainCatcher news, a letter shared by Musk on the X platform shows that his lawyer Alex Spiro wrote to SEC Chairman Gary Gensler yesterday, disclosing that the SEC has demanded Musk accept a settlement involving monetary compensation within 48 hours, or face multiple charges.According to the letter, SEC staff indicated that the request came from higher-ups. Alex Spiro pointed out that this is the latest action following years of investigation and six years of harassment by the SEC against Musk. When the SEC recently summoned Alex Spiro to testify and threatened to send a subpoena, he explicitly refused.The letter questions whether the SEC's actions are not aimed at seeking the truth, but rather an improper crackdown on Musk and his associates, and demands to know whether these actions are directed by the SEC Chairman or the White House.

ChainCatcher news, according to Ledger Insights, ten institutions have completed a simulation trial of the Regulatory Settlement Network (RSN), exploring the use of a shared DLT network to settle tokenized transactions. In addition to the previous experiments settling tokenized commercial bank funds and tokenized central bank funds on the same network, this experiment also featured tokenized government bonds and investment-grade bonds on the shared ledger. The institutions participating in the experiment include Citibank, JPMorgan, Mastercard, Swift, TD Bank NA, Bank of America, USDF, Wells Fargo, Visa, and Zions Bancorp.The shared institutional network for tokenized assets has garnered attention for several reasons. If tokenized treasury bills are settled using central bank funds on the same ledger, then settlement risk is almost completely eliminated. Smart contracts enable automation and straight-through processing. The always-online network allows for settlements outside of working hours and batch cut-off times. This could be particularly convenient for assisting overseas clients.

ChainCatcher news, according to Bitcoin.com, Russian President Putin views cryptocurrency as a potential settlement method for the BRICS investment platform. Putin stated that the construction work for the platform has already begun, and crypto assets may have a place in the settlement tools of the investment platform. The BRICS group is relentlessly pursuing a de-dollarized financial system. At the "Call of Russia" forum hosted by VTB Bank, one of Russia's largest financial institutions, Putin mentioned crypto assets and acknowledged that experts predict global growth will benefit from these assets and their use in related financial infrastructure.It is reported that BRICS consists of major emerging economies, initially including Brazil, Russia, India, China, and South Africa, but will expand in 2024 to include Egypt, Iran, Saudi Arabia, Argentina, Ethiopia, and the United Arab Emirates. Among these three BRICS countries—Argentina, Ethiopia, and the United Arab Emirates—are already utilizing state resources to mine Bitcoin.

ChainCatcher news, the cross-chain settlement layer Union announced the completion of a $12 million Series A funding round, led by Gumi Cryptos Capital and Longhash Ventures, with participation from Borderless Capital and Blockchange, as well as blockchain founders from Polygon, Movement, and Berachain. The total funds raised have reached $16 million.The funding will be used for core team expansion, partner integration, and ecosystem development.According to RootData, Union is an efficient interoperability protocol that connects all blockchains and Rollups within any ecosystem. It is based on consensus validation and does not rely on trusted third parties, oracles, multi-signatures, or MPC.

ChainCatcher news, according to Protos, Mango DAO members John Kramer and Max Schneider successfully pushed a proposal last week to lock 80 million MNGO tokens in exchange for 67.5 million token options. However, Mango Labs founder Dafydd Durairaj warned that this proposal "could be seen as a sale of MNGO, jeopardizing our settlement agreement with the SEC."Durairaj opposed the proposal within the community, stating that this move would lead the SEC to re-examine the case, and all members could face legal consequences. Meanwhile, the proposal "consolidated the two's complete control over the DAO."It is reported that both Schneider and Kramer are core members of Mango DAO, and Mango Labs had filed a lawsuit in October this year, accusing the two of attempting to misappropriate $10 million in DAO funds during the Avraham Eisenberg case.

ChainCatcher news, according to Ledger Insights, UBS and Deutsche Bank announced that as part of the European Central Bank's wholesale DLT settlement experiment, the two parties simulated tokenized deposit payments between banks.The Bundesbank's Trigger solution enables blockchain-based systems to connect to the Trigger Chain, allowing payments to be initiated in central bank money on the Target2 payment system. In terms of tokenized deposits, tokens are destroyed on the sending blockchain and minted at the receiving bank.A total of two experiments were conducted, one involving time-sensitive euro payments. The second simulated transactions in pounds and Swiss francs between Deutsche Bank's London branch and UBS Group in Switzerland, with these transactions settled in euros.

ChainCatcher news, according to Ledger Insights, the European Investment Bank (EIB) has issued its fifth digital bond, amounting to €100 million, using a pilot wholesale Central Bank Digital Currency (wCBDC) for settlement. This is part of the European Central Bank's wholesale DLT settlement trial that concluded this month.The EIB issued this digital bond on the HSBC Orion platform, marking the second time the EIB has used this platform. Each digital bond issued by the European Investment Bank explores a new feature, typically involving different issuance platforms. Its first issuance was in 2021 on the Ethereum blockchain. The fourth bond was a green bond, and the latest bond utilized a new type of settlement asset.

ChainCatcher news, according to DLNews, former NBA star Shaquille O'Neal has signed an $11 million settlement agreement regarding the Astral NFT and Galaxy token lawsuit, covering the plaintiffs' attorney fees as well as cash payments to NFT and token purchasers. The settlement agreement is currently pending approval from the judge.Previously, O'Neal was sued for promoting cryptocurrency, with a class action filed in federal court in Florida accusing O'Neal of promoting the unregistered Astral token in violation of securities laws.The lawsuit claims that O'Neal repeatedly promoted the Astrals NFT on his various social media accounts, but the value of the related tokens and NFTs subsequently experienced a "sharp decline."

ChainCatcher news, according to Ledger Insights, the French deposit bank (CDC) recently issued €100 million ($108 million) in digital bonds, using the French central bank's DL3S DLT platform and its pilot wholesale central bank digital currency wCBDC for settlement. This transaction is part of the European Central Bank's wholesale DLT settlement pilot, which will conclude this month.The French central bank avoids using the term wholesale CBDC, instead referring to it as a tokenized representation of central bank currency. For the issuance by CDC, it needed to synchronize the issuance of digital native notes (DNN) on Euroclear's D-FMI platform with the settlement on the central bank's DL3S. According to French law, DNNs are issued in bearer form.Additionally, the French pilot CBDC solution has been used for several other digital bond issuances. These include a €30 million sovereign bond issued by Slovenia and small commercial papers issued by Dutch banks, along with several other projects involving simulated DL3S experiments.

ChainCatcher news, according to the official announcement, the cryptocurrency exchange WazirX, which was previously hacked for over $230 million, has announced the launch of a recovery token for the settlement of outstanding debts. This token will be airdropped to creditors proportionally based on their balances on the platform.The recovery token will provide a recovery path through the following means: future platform profits; monetization of illiquid assets held by third parties from new business initiatives; and recovery of stolen assets. The main use cases for the recovery token include: buybacks: to facilitate creditor recovery and capture market trends. Additional liquidity: depending on the sentiment of creditors, the token can be traded on the open market for early access to funds, providing flexibility and opportunities for immediate value.It is reported that on July 18, the Indian cryptocurrency exchange WazirX suffered a hacking attack, and its multi-signature wallet on the Ethereum network was compromised. A total of $234.9 million was transferred to a new address.

ChainCatcher news, according to techinasia, OCBC Bank and Ant International announced a strategic partnership aimed at leveraging tokenized deposits and utilizing advanced encryption technology and artificial intelligence to streamline cross-border fund settlements.It is reported that this collaboration will prioritize real-time payments between Singapore and Malaysia around the clock through Ant International's Whale platform, which uses blockchain technology, advanced encryption technology, and artificial intelligence to enhance the speed, efficiency, and transparency of cross-border transactions.

ChainCatcher news, according to the official announcement, Binance will adjust the calculation method of the settlement price for futures contracts on November 11, 2024, at 16:00 (UTC+8). The settlement price for futures contracts will be calculated using the average of the price index every second for the last 30 minutes before delivery (from 15:30 to 16:00 UTC+8), totaling 1,800 price indices.Current contract settlement price calculation: The settlement price for futures contracts is currently calculated based on the average of the price index every second for the last hour before delivery (from 15:00 to 16:00 UTC+8), totaling 3,600 price indices.New contract settlement price calculation: The new settlement price for futures contracts will be calculated based on the average of the price index every second for the last 30 minutes before delivery (from 15:30 to 16:00 UTC+8), totaling 1,800 price indices.

ChainCatcher news, Into The Cryptoverse founder Benjamin Cowen posted on X: "It seems that the grand finale of the altcoin reckoning is finally here. The altcoin reckoning should conclude by December 2024 (at the latest by the second week of January 2025). It has been a long journey, and many have given up along the way, but this process will always continue."

ChainCatcher news, according to CryptoSlate, FTX has reached a settlement with Evolve Bank and the Silicon Valley Community Foundation (SVCF), which could allow it to recover up to $21 million in assets. The agreement is pending court approval, with a hearing scheduled for November 20.Previously, Evolve Bank held over $13 million in deposits in accounts opened for FTX affiliate West Realm Shires Services Inc. After multiple negotiations, FTX reached an agreement with Evolve Bank to return approximately $12.77 million to the bankrupt FTX, while retaining $462,700 as compensation fees.In addition, the Silicon Valley Community Foundation SVCF also agreed to return $8.57 million and the remaining FTT tokens to avoid the need for litigation.

ChainCatcher news, senior banking officials and financial executives from the Bank for International Settlements (BIS) discussed the possibility of shutting down mBridge at a meeting in Washington. This discussion stemmed from concerns over remarks made by Russian President Vladimir Putin during the opening ceremony of the BRICS summit in Kazan, where he proposed the idea of establishing a BRICS-led alternative international payment system.mBridge is a cross-border payment system operated by the central banks of China, Thailand, the UAE, and Hong Kong (Saudi Arabia joined this year as a new member), and is supported by the BIS Innovation Hub. mBridge uses distributed ledger technology to enable faster payments that bypass intermediary banks.