headlines
The Fed keeps its benchmark interest rate unchanged at a range of 5.25% -5.50%
The Federal Reserve kept its benchmark interest rate unchanged at a range of 5.25% -5.50%, in line with market expectations; the U.S. two-year Treasury yield rose to 5.131%, the highest level since 2007; Fed swaps show traders will postpone the first interest rate cut until next year September. Federal Reserve Chairman Jerome Powell said the Fed has made great progress, but its full impact has yet to be felt, and we are very close to where we think we need to be. I wouldnt take a (potential) rate hike too seriously. As the inflation target approaches, we need to proceed with caution.
In addition, he said he was prepared to raise interest rates further if appropriate. The Feds forecasts are not plans and policy will be adjusted as appropriate; I never intended to signal the timing of any rate cuts. We will have the opportunity to cut interest rates at the appropriate time. Part of the reason for the decision to cut interest rates may be that real interest rates are rising because inflation is falling. (Golden Ten)
Grayscale applies for new futures Ethereum ETF
Grayscale Investments filed on Tuesday with the U.S. Securities and Exchange Commission (SEC) for a new futures Ethereum ETF, which would be filed under the Securities Act of 1933, the same Securities Act that regulates the filing of commodity and spot Bitcoin ETFs. Grayscale also previously filed for a separate Ethereum futures ETF under the Investment Company Act of 1940, under which most security-based ETFs are registered. (WSJ)
cryptocurrency
CoinEx: Asset deposit and withdrawal services will resume on September 21
CoinEx Global issued a document on the Recharge address, please do not use the old address.
ETH/BTC ratio falls to 14-month low
The ETH/BTC ratio fell to around 0.0602 yesterday, its lowest since July last year and a 14-month low, according to TradingView data. Marcus Thielen, head of strategy and research at Matrixport, said Ethereum’s protocol revenue has been declining over the past three months and expects BTC to continue to outperform the broader crypto market, including ETH. (CoinDesk)
KAS price hits record high, market value once exceeded Optimism and Arbitrum
CoinGecko data shows that the price of KAS hit a record high of 0.053863 USDT. Its highest market value once exceeded Optimism and Arbitrum, ranking 41st.
Discord Trading Bot None Trading ceases operations due to scheme to steal funds
Discord trading Bot None Trading posted on the Time to withdraw tokens and funds, after which the project will be closed. Users can still use the withdraw, get_priv, and portfolio commands for now. All other features and commands have been disabled.
SPACE ID Gnosis Safe wallet address transferred 9.8 million IDs to OKX
According to Scopescan monitoring, yesterday the SPACE ID Gnosis Safe wallet address transferred 9.8 million IDs worth US$1.97 million to OKX.
Project News
Gavin Wood-backed L1 chain Vara Network launches mainnet
Vara Network, a Layer 1 decentralized network based on Gear Protocol backed by Polkadot founder Gavin Wood, has launched its mainnet. The Vara Network team said: “The platform simplifies the transition process from Web2 to Web3 with user-friendly features, leveraging concepts such as Actor Model and Persistent Memory to increase speed and eliminate latency. It introduces parallel processing and independent memory for smart contracts Space provides more powerful capabilities for developers in gaming, finance and other fields.” (CoinDesk)
Aave launches GHO liquidity strategy upgrade proposal
The governance platform shows that Aave launched a GHO liquidity strategy upgrade proposal, aiming to improve the anchor price of the token and promote diverse and comprehensive liquidity on multiple DEXs to address the challenges that arise when the GHO token is below $0.96. . Additionally, the strategy includes a reward budget designed to incentivize participants to provide liquidity and help increase the peg price of the GHO token. These rewards will be gradually added according to the needs of different platforms and can be updated under certain conditions. The implementation of the liquidity strategy will be conducted by TokenLogic for liquidity analysis and monitoring, and the Liquidity Committee will execute on-chain transactions on behalf of Aave DAO.
Blur founder Pacman posted on the However, Pacman did not disclose the specific update time because he did not want peoples expectations about the timetable to be distorted. It is reported that the Blur account last posted on July 27, while Pacman’s last tweet was on July 6.
dYdX founder: Mainnet expected to launch in October
Antonio Juliano, the founder of dYdX, said in an interview that the dYdX mainnet was originally scheduled to go online at the end of September, but was later postponed. It may be launched sometime in early to mid-October. Juliano said the build is almost complete and is in the final stages of testing. CoinDesk)
The first season of open testing of Yuga Labs’ LotM game will start on September 26
According to official news, the open beta of the first season of Yuga Labs’ LotM game will be launched on September 26. During the first season, users can hatch Mara, and as Koda holders, they can start collecting fragments and hunting for fragments in advance. Beta loot will be mintable at the end of each quarter and include LotM’s ever-expanding collection of in-game items.
Investment and Financing
Varys Capital to raise $75 million for its blockchain innovation-focused equity venture fund
Varys Capital plans to raise $75 million for its blockchain innovation-centered equity venture capital fund, which will focus on startups in areas such as DeFi, CeFi, GameFi, Web3 infrastructure and other emerging technologies. The fund has made five investments so far, including Move language infrastructure Movement Labs, gaming studio SunSpear Games, blockchain mobile operator Bloxtel, first-person shooter producer Shrapnel and cloud hardware and software developer Nirvana Labs. (ZAWYA)
Digital asset startup Fuze completes $14 million in seed round led by Further Ventures
The Middle East digital asset startup announced that Fuze has completed a US$14 million seed round of financing, led by Abu Dhabi venture capital institution Further Ventures, with participation from Liberty City Ventures, an early-stage venture capital firm in New York. It is reported that Fuze enables banks, financial technology companies or enterprises to provide regulated digital asset products to customers through native applications. Its white label solutions handle the complexities of blockchain and regulatory fees for businesses, allowing businesses to easily offer digital assets such as stablecoins, cryptocurrencies, CBDCs and tokenized assets. (PR Newswire)
Decentralized information market protocol Freatic completed a US$3.6 million seed round of financing, led by a16z Crypto, with participation from Anagram, Archetype, Not 3 Lau Capital, Robot Ventures, Arweave, Stefano Bernardi, Meltem Demirors, Stephane Gosselin, Jutta Steiner, MacLane Wilkison, etc. cast. (The Block)
regulatory policy
Fox Business News reporter Eleanor Terrett posted on the Hearings.
Head of U.S. SEC Encryption Enforcement: SEC has not stopped pursuing exchanges and DeFi projects
David Hirsch, head of the U.S. Securities and Exchange Commission’s (SEC) office responsible for cryptocurrency enforcement, said the SEC has not stopped pursuing cryptocurrency exchanges and DeFi projects because they, like Coinbase and Binance, violated securities laws.
Hirsch said: “We will continue to investigate, we will be active in this space, and adding the label DeFi will not prevent us from continuing our work.” (CoinDesk)
Character*Voice
CZ: Loaned $250 million to BAM, not borrowed from it
CZ posted in response to a previous Decrypt report that it borrowed $250 million from BAM Management US Holdings and said: I loaned $250 million to BAM, not borrowed it, and it has not yet been repaid.
