Headlines
CZ posted his first tweet after being released from prison: GM
CZ posted his first tweet after being released from prison on the X platform: “GM”.
The address where more than 12,000 spWETH were stolen may be related to Shenyu
Lookonchain posted on the X platform that due to a phishing attack, a certain address lost 12,083.6 spWETH (about 32.33 million US dollars). According to Arkham, the wallet may be related to Cobo co-founder and CEO Shenyu (@bitfish1). To avoid being phished, please do not click on any unknown links or sign any unknown signatures.
BTC briefly hit 66,000 USDT, up 0.28% in 24 hours
OKX market data shows that BTC briefly touched 66,000 USDT and is currently trading at 65,915.3 USDT, with a 24-hour increase of 0.28%.
Industry News
US SEC charges entity operating crypto trading platform Mango Markets
The U.S. SEC has filed charges against entities operating the cryptocurrency trading platform Mango Markets, alleging that they offered and sold the platforms MNGO governance tokens without registration. According to the SECs complaint, starting in August 2021, Mango DAO, a purported decentralized autonomous organization (DAO), and the Panamanian entity Blockworks Foundation raised more than $70 million from hundreds of investors around the world, including in the United States, through unregistered offers and sales of MNGO tokens (the so-called governance tokens of the Mango Markets platform). The SEC also alleges that since at least August 2021, Blockworks Foundation and Mango Labs have each operated as unregistered brokers, actively soliciting and recruiting Mango Markets users to trade securities; providing advice and valuations on the merits of securities investments; and helping to facilitate securities trading on the Mango Markets platform by assisting customers in opening accounts and regularly handling customer funds and securities.
Arkham: Tesla and SpaceX’s Bitcoin holdings worth $1.3 billion
According to data disclosed by Arkham on the X platform, the combined market value of Bitcoin holdings of Elon Musks Tesla and SpaceX companies has reached $1.3 billion.
Project News
UniSat released the PizzaSwap Pre-Launch update notes on the X platform, including: Fractals brc-20 will recognize PizzaSwap module events. If the index does not process the relevant inscription events, it may cause inconsistency between the index and the results; it is strongly recommended that platforms supporting brc-20 on Fractal temporarily disable the brc-20 market and related transfer functions when PizzaSwap is released. Once the exchange inscription events are integrated and the index results are aligned, these functions can be re-enabled; recommended solution: other index service providers should interact with the withdrawal inscription events, and the relevant API can be used to determine whether the withdrawal inscription is valid.
Web3 game Seraph Season 0 concluded successfully, setting many new records
Seraphs Season 0 (August 22 to September 25) was successfully concluded, creating several milestone achievements. During this season, the games revenue exceeded 2 million US dollars, and the total number of players exceeded 90,000 , breaking the games historical test record. In addition, in Season 0, the total amount of game NFT transactions exceeded 2,600 ETH, the maximum number of concurrent online players reached 7,500 , and the number of game NFT transactions exceeded 52,000 times. Since the test, the total amount of Seraph game NFT transactions has reached 17,000 ETH, and the number of transactions has exceeded 163,000 times.
Bitget Wallet launches Telegram mini-program cross-chain development kit OmniConnect
Web3 wallet Bitget Wallet announced the launch of a software development kit for developers, OmniConnect, which supports the Mini-App in the Telegram ecosystem to seamlessly connect to the multi-chain ecosystem, including all EVM-based public chains, TON, Solana and more than 500 other chains. After the Telegram Mini-App integrates the kit, it can directly perform DApp interaction operations such as signing and trading on multiple chains through Bitget Wallet. Bitget Wallet also revealed the future plan of OmniConnect, which is not limited to supporting Telegram Mini-App, but will also be expanded to multiple platforms such as plug-in end, APP end, Web/H 5 end, etc., to provide users with a seamless connection experience across all ends and chains.
Onyx Protocol posted on the X platform that in response to the theft, Onyx Protocol issued a proposal OIP-46, proposing to restart Onyxs open source licensed financial network Onyx Core as the main product, together with XCN Staking to ensure the governance of Onyx Core and the rewards of Onyx Staker. According to the proposal, Onyx Protocol will operate as a closed lending protocol on Onyx Core, allowing users to package and lend NFTs and real assets (RWA), while supporting crypto assets from multiple chains. This move will close the Ethereum-based lending market and fully compensate all affected users, paying for the assets they provided at a 1:1 ratio.
The Floki project officially announced in a blog that it will support GraFun, a meme coin launch and trading platform on the BNB chain. Floki will obtain 40% ownership of GraFun and 40% of the revenue share. It is understood that GraFun uses an innovative bond curve mechanism that allows users to fairly issue meme coins at a very low cost. The platform has received support from industry heavyweights such as BNB Chain, DeXe Protocol, and HOT Protocol, and DWF Labs is the platforms strategic partner.
Investment and Financing
Initia Completes $2.5 Million Community Round on Echo Platform
Initia announced on the X platform that it completed a $2.5 million community round of financing on the Echo platform in less than two hours. The financing was carried out at a token valuation of $250 million, a 28.57% reduction from its $350 million Series A valuation.
Ryan Rzepecki, co-founder of the decentralized 3D map project MeshMap, posted on X that the project has completed $4 million in financing, with participation from a16z CSX, Colosseum, Lattice, Escape Velocity, GSR and other institutions. In addition, individual investors participating in this round of financing include Solanas two co-founders Toly and Raj, former Coinbase CTO Balaji Srinivasan and others.
Character*Voice
10x Research: Bitcoin is expected to hit a new all-time high in the short term
According to the latest report released by 10X Research, Bitcoins strong rise since the Feds mid-September rate cut and Chinas stimulus plan has helped it break out of its downward trend. As Bitcoin breaks through $ 65,000 , 10x Research expects it to quickly rise to $ 70,000 and then hit a new all-time high in the short term. Markus Thielen, founder of 10X Research, said that the amount of stablecoin minting increased sharply after the Feds July meeting, when the Fed announced at the meeting that it would maintain interest rates unchanged, but hinted that policy may be relaxed in September. In the following weeks, the amount of stablecoin minting approached $10 billion, injecting liquidity into the cryptocurrency market and significantly exceeding spot ETF flows. It is particularly noteworthy that Circles USDC accounts for 40% of recent stablecoin inflows, which is much higher than normal, as the minting of USDC may indicate an increase in DeFi activity.
DWF Labs Partner: Memes tend to rise first after the market recovers
Andrei Grachev, partner of DWF Labs, wrote on the X platform that if the market recovers, Meme will often rise first because: 1. Meme itself is volatile; 2. People who previously lost money on Meme try to retaliate their losses and enter the market again.
Trader Eugene Ng Ah Sio wrote on X: “It’s usually not a price target, so I’ll give the price range at the end of the cycle (assuming Trump wins the election + (US economy) soft landing): BTC: $ 100,000-200,000 ; ETH: $ 4,000-6,000 ; SOL: $ 500-1,000 ; total cryptocurrency market value: $ 5-10 trillion.”
Matrixport: Bitcoin price may see a sharp rebound in early October
Matrixport published a report on the X platform saying that Bitcoin is likely to rebound at the end of the year, bringing surprises to many market participants. Although Bitcoin has been in a consolidation state since reaching its all-time high in March 2024, its return rate has reached +49% since the beginning of the year, which is comparable to the +47% return rate predicted based on historical data.
Based on Bitcoin’s performance over the past decade, if this historical trend continues, there is a good chance that the price will rebound sharply in early October. The coming weeks and months will be an exciting and transformative period for all players in the crypto asset space. In addition, Ethereum mining fees have rebounded slightly, indicating that the summer consolidation phase of crypto assets is expected to come to an end. Whether the rebound momentum will continue requires a more detailed and rigorous analysis of Ethereum revenue and mining fee trends. Closely monitoring these indicators can provide insight into whether the recent rebound is sustainable. If not, it means that the logic of market activities may have changed.
