headlines
Grayscale wins lawsuit against SEC
Odaily reports that Grayscale won its lawsuit against the SEC, according to court documents.
Prior to news on October 12, 2022, Grayscale had submitted an opening briefing on the US Securities and Exchange Commissions (SEC) lawsuit rejecting its application for a spot bitcoin exchange-traded fund. Craig Salm, Grayscale’s chief legal officer, said spot and futures ETFs “do not differ in the context of bitcoin” because “CME bitcoin futures are inherently priced lower than the spot bitcoin market.” The brief said the SEC failed to Demonstrate why the approval of bitcoin futures ETPs and spot bitcoin ETPs is treated very differently, thereby violating the most basic requirements of the US Administrative Procedure Act.
Grayscale CEO: Legal team is actively reviewing the court’s opinion
Odaily News Grayscale CEO Sonnenshein posted on the X (formerly Twitter) platform, expressing his gratitude to the Washington DC Circuit Court for making a judgment in favor of Grayscale, and thanking investors for their support and encouragement.
Additionally, Grayscale’s legal team is actively reviewing the court’s opinion.
Odaily News U.S. Securities and Exchange Commission (SEC) spokesperson: The SEC is reviewing the court’s ruling on the Grayscale Bitcoin ETF issue to determine next steps. (Golden Ten)
Crypto market generally rose: BTC rose nearly 6% in 24 hours, BCH rose more than 16% in 24 hours
Odaily news OKX market shows that the encryption market generally rose last night, and the performance of mainstream currencies is as follows:
BTC is temporarily trading at 27610 USDT, with a 24-hour increase of 5.70%;
ETH is temporarily trading at 1721.10 USDT, a 24-hour increase of 3.91%;
LTC is temporarily trading at 68.01 USDT, a 24-hour increase of 3.97%;
XRP is temporarily trading at 0.53435 USDT, with a 24-hour increase of 2.59%;
BCH temporarily reported 222.46 USDT, a 24-hour increase of 16.39%;
SOL is temporarily trading at 21.662 USDT, a 24-hour increase of 5.15%;
DOGE is temporarily trading at 0.06592 USDT, with a 24-hour increase of 3.76%;
MATIC is temporarily trading at 0.5863 USDT, with a 24-hour increase of 4.25%.
According to news yesterday evening, according to court documents, Grayscale won the lawsuit against the SEC; the SEC spokesperson stated that the SEC is reviewing the court’s ruling on the Grayscale Bitcoin ETF issue to determine the next step.
Industry news
Odaily News Dogecoin designer DogeDesigner posted on the X platform (formerly Twitter) that X has obtained the Rhode Island Money Transmitter License (MTL) and can provide payment services in seven states.
It is reported that MTL holders can control and trade virtual currencies on behalf of others. Companies that provide cryptocurrency-related services generally apply for this license.
U.S. SEC files motion to seal lawsuit against Binance, seeking to submit sealed documents
Odaily News The U.S. SEC filed a sealed motion against Binance, seeking permission from the District Court of the District of Columbia to file sealed documents.
U.S. Department of Justice: Expert witnesses recommended by SBF should be prohibited from testifying
Odaily News A U.S. Department of Justice prosecutor stated in a document that expert witnesses recommended by SBF should be barred from testifying because their disclosure documents are insufficient and relevant experience may be misleading.
The Ministry of Justice proposed to exclude seven expert witnesses recommended by the SBF team. Specific reasons included that the witnesses’ opinions exceeded their authority, lacked details, and their opinions were invalid.
“Its factual statements should be substantiated by admissible documentary evidence and the testimony of professional witnesses, rather than using expert witnesses who have no first-hand knowledge of the facts,” the document said. (CoinDesk)
SBF appeals its decision to jail for alleged witness tampering
Odaily News SBF is appealing its decision to jail a man for allegedly tampering with a witness.
In a filing late Friday night with the U.S. Court of Appeals for the Second Circuit, SBFs attorneys said SBF was simply exercising its First Amendment right to share with a New York Times reporter about his former colleague and lover, Caroline Ellison private documents, simply to defend ones reputation, not to intimidate.
Prosecutors said the SBF posted the content to harass Ellison and prevent others from testifying. (Reuters)
Odaily News According to a court document filed on Tuesday, DCG has reached an agreement-in-principle with Genesis creditors to resolve claims raised in the Genesis bankruptcy case.
The plan could enable unsecured creditors to receive dollar payouts equal to 70% to 90% of the debts value. Or recover 65% - 90% in the form of digital assets based on the face value of the digital assets. The final amount is subject to market pricing and final documentation. (CoinDesk)
Odaily News Canaan Technology announced its financial report data for the second quarter of 2023. The financial report data shows that Canaan Technology’s total revenue in the second quarter of 2023 will be 73.9 million US dollars (about 536 million yuan), compared with the first quarter of 2023. An increase of 33.7%. The companys total sales computing power in the second quarter of 2023 is 6.1 million TH/s, a 44.2% increase from the first quarter of 2023.
The financial report data shows that Canaan Technology’s mining machine sales revenue and mining revenue have both improved significantly from the previous month. Among them, in the second quarter of 2023, the companys mining machine sales revenue increased from US$43.7 million in the first quarter of 2023 to US$57.8 million, a quarter-on-quarter increase of 32.2%. In the second quarter of 2023, the companys mining revenue increased from US$11.1 million in the first quarter of 2023 to US$15.9 million, a quarter-on-quarter increase of 43.3%.
In the second quarter of 2023, the companys mining revenue was US$15.9 million, and the production of Bitcoins reached 569, a quarter-on-quarter increase of 43.3% compared to the US$11.1 million in the first quarter of 2023. The growth is attributed to the upward movement of the currency price and the increase of mining capacity.
Odaily News People familiar with the matter disclosed to CoinDesk that Robinhood’s encryption business no longer cooperates with Jump Trading. Previously, Robinhood provided low-fee encrypted asset trading services to retail investors, and Jump Trading provided market-making services as a partner.
Jump has reportedly been gradually withdrawing from the U.S. market amid heightened regulatory scrutiny.
Previously, Tai Mo Shan Ltd (the Jump affiliate that handles Robinhoods order flow) had appeared in Robinhoods financial reports, but the company has not appeared since Q4 2022.
At present, it is not clear why the two parties ended the cooperation. (CoinDesk)
According to official news from Odaily, the encrypted claims and trading platform OPNX announced that the function for users to exchange FLEX for OX has been terminated today. During the token migration, more than 35 million FLEX were exchanged for OX by users, accounting for about 36% of the FLEX supply, and 3.89 billion OX were issued at the same time.
The maximum supply of OX is 9.86 billion, and the remaining 5.97 billion OX will be minted and stored in the escrow contract. The hosted OX will be controlled by The Herd and voteOX holders to decide in a decentralized way how to utilize the remaining OX and drive OPNX growth.
Pie Shield: The Fifth Largest Bitcoin Wallet Is Under U.S. Government Control With 94,643 Bitcoins
Odaily News Paidun posted on the X platform (formerly Twitter) that the fifth largest bitcoin wallet is under the control of the US government, holding 94,643 bitcoins. The address was linked to the 2016 Bitfinex hack. On February 1, 2022, 1 CGA 4 address transferred about 567.5 BTC to the seizure address.
JJ Lin Launches New Custom Stellar NFT as His Digital Identity
Odaily News JJ Lin posted on the X platform (formerly Twitter): I am very excited to launch my new custom Stellar NFT, a digital identity that resonates with me on a whole new level.
Additionally, he has replaced his X account avatar with this NFT image.
Project News
Odaily news: Friend.tech founder Racer issued an apology statement on the
Racer said: Im sorry. It was stupid for me to tell users not to use other products out of fear. He also emphasized that this approach was contrary to the open culture of the encryption field and apologized for it.
Previously, friend.tech said on the Users will automatically opt out of earning points and forfeit existing points in order to use the app normally.
Optimism: Initial OP token grant will be distributed to Base on August 30th
According to official news from Odaily, Optimism announced that it will distribute the initial OP token grant to Base on August 30, and has informed in advance that this is a planned transaction.
According to official news from Odaily, Mantle Network released the user participation plan Mantle Journey, which aggregates user activities on and off the chain to motivate community users. This event uses the casting of Mantle Journey Soulbound Token. During the Alpha season of Mantle Journey, A 20 million MNT reward pool is allocated to participating users and applications. The program, which will run for several seasons, is now open to all Mantle Network users.
It is reported that Mantle Journey Soulbound Token is a soul bound token (MJSBT), which records the user’s digital identity when participating and interacting with the Mantle ecosystem.
Interlay Launches Bitcoin-Based L2 Minimum Viable Product, Introduces Rust Smart Contracts
Odaily Polkadot ecological cross-chain interoperability network Interlay announced the launch of a Bitcoin-based L2 minimum viable product (MVP), which introduces Rust smart contracts to achieve compatibility with the Lightning Network and Ordinals.
“Our goal is to enable developers to create truly decentralized applications and innovate on top of Bitcoin’s existing stack, including Lightning, Ordinals, and Nostr,” said Interlay co-founder Alexei Zamyatin. (Decrypt)
Boba Network: BobaAvax will be shut down from October 31st, please transfer funds in time
Odaily News According to official news, the Ethereum Layer 2 expansion network Boba Network recently announced that its Layer 2 expansion solution BobaAvax on Avalanche will be closed on October 31. Users need to transfer all funds to the Avalanche main network before then. Failure to do so may permanently lose access to any property on BobaAvax.
In this regard, Sushi also issued an announcement stating that users who provide liquidity to Sushi on the BobaAavx chain need to take the following actions before October 31: 1. Remove all existing liquidity from BobaAvax; 2. Remove funds from BobaAvax Transfer out for safety.
Additionally, Sushi strongly advises against adding any new liquidity to BobaAvax, and failure to remove liquidity or transfer assets before the specified date may result in users being permanently unable to access their assets on BobaAvax.
Uniswap launches temperature check vote on deploy V2 on all chains with Uniswap V3
Odaily News According to the Uniswap governance page, Uniswap initiated a temperature check vote on deploying V2 on all chains with Uniswap V3.
Uniswap stated that the only officially deployed Uniswap V2 currently exists on the Ethereum mainnet. There is demand for V2-type AMMs on other chains, with many forked modified versions. These forked versions may not be safe, and the liquidity of the forks could have accumulated to Uniswap V2. And V2 can provide better services for small exchanges, so it is planned to deploy V2 on all chains with Uniswap V3.
Wintermutes YFI loan proposal is opposed by the Yearn community and may not pass the vote
Odaily News The Yearn community generally opposes the YFI loan proposal initiated by Wintermute. Several voters stated that Wintermutes proposed plan is far less profitable than minting yCRV, and Wintermute only promises to provide liquidity for yCRV. (CoinDesk)
PancakeSwap: CAKE Pool release has been reduced from 1.5 CAKE to 1 CAKE per block
Odaily News PancakeSwap released an update on the CAKE Pool release amount on the
According to PancakeSwap, this adjustment will help CAKE reach a deflationary state.
Multi-chain NFT market BlueMove: will stop operating on Sei on August 31, please remove NFT in time
Odaily News According to official news, BlueMove, a multi-chain NFT market based on Aptos and Sui, announced that due to the current lower-than-expected transaction volume on Sei, BlueMove will stop on the Sei network after 72 hours (12:00 on August 31, Beijing time) operation on.
During this period, all users are requested to delist their NFTs to prevent any potential loss of assets.
Investment and Financing
Odaily News Web3 infrastructure company MoonPay has established an investment arm that will focus on early-stage startups in the Web3, gaming and related financial technology fields.
The investment arm is called MoonPay Ventures, and the investment scale is mainly between 100,000 and 1 million US dollars, targeting seed and A rounds of financing.
Abhay Mavalankar, vice president of corporate development and investments at MoonPay, said the fund has invested in more than 25 companies, including BCB Group, Ledger, BRUT, BeatClub, absolute labs, Create/OS, BridgeTower Capital and Mythical Games. (TechCrunch)
Virtual event planning platform Allseated closes $20 million in equity financing
Odaily News Allseated, a virtual venue display and event planning platform, completed a US$20 million equity financing. Allseated said it is spinning off its Metaverse division into a separate entity.
Founded in 2011, Allseated provides a collaborative space visualization platform that allows venues and planners to create virtual walkthroughs for potential clients, including tools for building 360-degree views of buildings and designing floor plans. In 2022, Allseated raised $15 million in funding and launched its “Enterprise Metaverse” in May 2022.
Allseated’s latest round of funding, which brings total cash to over $43 million and includes investments from Magma Ventures, Level Structured Capital, Vestech Partners, NYFF and WGG, will be used to further expand its spatial visualization and collaboration platform. (TechCrunch)
Social network and content monetization platform Lyvely completes seed round led by Cypher Capital
Odaily News Lyvely, a social network and content monetization platform headquartered in the United Arab Emirates, announced the completion of a seed round of financing, led by Cypher Capital, with an undisclosed investment amount.
Lyvely will develop a token that will be seamlessly integrated into the platform, allowing anyone to monetize online content or services.
global policy
Odaily News Hong Kongs licensing system for operators of virtual asset trading platforms is a dual license system. In addition to the licensing system applicable to “security tokens” under the Securities and Futures Ordinance, there is another licensing system applicable to “non-security tokens” under the Anti-Money Laundering Ordinance.
Currently, several virtual asset trading platforms, including OSL Exchange and HashKey Exchange, are applying for the second type of license, but no license has been approved yet. The Hong Kong Securities and Futures Commission has previously stated that the terms and characteristics of virtual assets may evolve over time, and the definition standards of security tokens and non-security tokens may also change. Therefore, in order to ensure compliance, virtual asset platforms should hold Dual license plates. (Caixin)
Odaily News U.S. SEC Commissioners Hester Peirce and Mark Uyeda have objected to the SEC’s enforcement actions that treat NFT sales as securities, partly because they disagree with the application of the Howey test.
Specifically, the SEC does not have a sufficient basis to bring this within its jurisdiction. Several of the company and buyer statements cited in the order are not promises to constitute an investment contract. Even if NFT sales were fully compliant with Howey’s regulations, the series of facts would not be sufficient to warrant enforcement action.
Since this is the first enforcement action against NFTs, it raises a number of difficult questions. The SEC is long overdue to address these issues and provide guidance as NFTs begin to take off. Having a discussion about NFTs now can help the SEC handle this issue wisely, for example: NFTs are not an asset class with a single use case. Different NFTs have multiple use cases. Does the SEC have an effective way to classify NFTs to think about securities laws? Whether and how does it apply to offers and sales?
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Analyst: Grayscale’s win in the lawsuit means progress in converting GBTC to ETF
Odaily News Bloomberg ETF analyst James Seyffart posted on the
Analyst: SEC has 45 days to file appeal for full hearing
Odaily News Bloomberg ETF analyst James Seyffart said on the X (formerly Twitter) platform that the SEC can file an appeal for a full hearing within 45 days. That means the case will be heard by all the judges on the court (17 in this case), rather than a panel of just three as in this original ruling.
Odaily News Cinneamhain Ventures partner Adam Cochran posted on the Appeal (en banc appeal).
However given the reasons for the courts decision and the fact that they repeatedly pointed to the committees failure to support any of its arguments, an en banc appeal would be a terrible decision and would probably only infuriate the court.
A big MAGIC owner: TreasureDAO sells MAGIC at half price through OTC
Odaily News Ogle, a big MAGIC player, posted on the X platform (formerly Twitter) that TreasureDAO sold MAGIC at half price through OTC at a price of 0.28 USDT. In addition, ogle said that some MAGIC whales are also selling tokens.
Odaily News Treasure Lianchuang karel vuong responded to the previous accusation of the team sold tokens at half price through OTC in the Discord community, saying that the OTC traders were not from the team. Treasure knew the information of both parties to the transaction, but out of respect and confidentiality considerations, it would not disclose it. its name.
Karel Vuong also said, “Traders conducted OTC transactions for management and accounting reasons, aiming to transition to a more liquid model. This is not because they have lost confidence in Treasure. On the contrary, they are still supporting Treasure, and provide advice. Statements from interested parties will be issued shortly.”
Jihan Wus encrypted financial company Matrixport: Will be long BTC and strictly stop losses
Odaily News Markus Thielen, research director of Matrixport, Wu Jihan’s crypto financial company, said: “We will be long Bitcoin and strictly stop losses. It is expected that U.S. Treasury bond yields will fall and U.S. technology stocks will rise.” (CoinDesk)
