Headlines
▌Stoner Cats NFT Creator Agrees to Pay $1 Million to Settle with SEC
The creators of Stoner Cats have agreed to pay $1 million to settle charges brought by the U.S. Securities and Exchange Commission (SEC) regarding the sale of unregistered securities in the form of NFTs.
Earlier, LianGuai reported that on September 14, the SEC accused Stoner Cats 2 LLC (SC2) of conducting an unregistered sale of encrypted asset securities in the form of so-called NFTs, raising around $8 million from investors to fund an animated web series called Stoner.
Market
As of the time of writing, according to data from CoinMarketCap:
- Summary of the latest Ethereum execution layer meeting EIP-7514 will be part of the Dencun upgrade.
- Why is Coinbase so obsessed with the concept of the stablecoin Flatcoin, which aims to combat inflation?
- LianGuai Observation | Ethereum Merger One Year Anniversary Energy Consumption Has Decreased by 99%, but Centralization Issues Persist
BTC recently traded at $26,533.2, with a 24-hour change of -0.05%;
ETH recently traded at $1,623.39, with a 24-hour change of -0.41%;
BNB recently traded at $216.37, with a 24-hour change of +0.08%;
XRP recently traded at $0.4928, with a 24-hour change of -1.40%;
DOGE recently traded at $0.0614, with a 24-hour change of -0.84%;
ADA recently traded at $0.2471, with a 24-hour change of -1.08%;
MATIC recently traded at $0.5175, with a 24-hour change of -1.09%.
Policies
▌John Deaton: U.S. Department of Justice Taking Selective Enforcement to Protect Entities Involved in Significant Fraud Committed by SBF
John Deaton, a lawyer representing numerous XRP token holders, is calling on the U.S. Department of Justice (DOJ) to act in a compromising manner in its ongoing prosecution of Sam Bankman-Fried (SBF), co-founder and former CEO of FTX derivatives exchange. As one of the strongest critics of government overreach in the cryptocurrency ecosystem, John Deaton believes that the DOJ is taking selective enforcement to protect entities involved in significant fraud committed by SBF, while still overseeing FTX affairs.
▌U.S. House Financial Services Committee to Approve Two Bills Blocking Potential U.S. Digital Dollar on September 20th
The U.S. House Financial Services Committee is advancing legislation aimed at blocking the issuance of digital currencies by central banks. According to Chairman LianGuaitrick McHenry’s announcement, the committee will markup two bills related to the potential U.S. digital dollar on September 20th. Markup is the process by which legislators discuss the details of a bill. This is a crucial step before legislation is submitted to the House.
One of the bills is the Digital Dollar Pilot Program Prevention Act (HR 3712), which prohibits the Federal Reserve from launching a pilot program to test CBDCs without congressional approval. The bill was introduced by Representative Alex Mooney in May.
The second legislative measure is an amendment to the Federal Reserve Act, prohibiting the Federal Reserve Bank from directly providing certain products or services to individuals, and prohibiting the use of CBDC for monetary policy and other purposes.
▌Europol warns of increasing criminal activities in the DeFi and NFT sectors
Europol (the EU’s law enforcement cooperation agency) recently released the European Financial and Economic Crime Threat Assessment. The report highlights the complexity of financial and economic crime affecting the EU, such as money laundering, corruption, fraud, intellectual property crime, and counterfeit currency. The report states that decentralized finance (DeFi) based on blockchain technology is expected to bring greater independence and security. However, this field lacks regulation, leaving room for economic crime as criminals store illicit assets on DeFi platforms. Highly volatile cryptocurrencies are also targets for fraud schemes and money laundering activities.
NFTs are becoming increasingly popular, but their instant transaction functionality also attracts fraudsters. Given the cross-border nature of NFT transactions, there is a significant money laundering risk. In addition, the emergence of metaverses (digital spaces used for various activities) has been adopted by the financial sector and provides new opportunities for criminals. Fraud and theft cases in virtual universes have been reported, indicating a potential trend of organized crime in this virtual environment.
In the face of these evolving financial and economic crimes, Europol emphasizes the need for proactive measures, international cooperation, and staying ahead of criminal innovations to ensure the security and stability of the EU.
▌Federal prosecutors accuse SBF lawyer of attempting to unfairly influence potential jurors in the case
Federal prosecutors have accused an SBF lawyer of attempting to unfairly influence potential jurors in the case. In a filing submitted on Friday, prosecutors in the Southern District of New York asked the judge overseeing the case to reject a series of questions posed by the defense during voir dire (preliminary examination of jurors). The prosecution argued that the defense’s questions would delay the selection process and bias the jurors against the government’s case.
The prosecutors stated that implying to potential jurors that news reports or anything else gave the government an unfair advantage, or implying that the government should bear a higher burden of proof, is equally inappropriate. Such questions are particularly unreasonable here, as the defendant actively fueled media coverage of himself and the case both before and after his arrest.
Blockchain Applications
▌The first Metaverse fund in Henan Province completes filing with a scale of 150 million yuan
The Henan Cultural Tourism Digital Technology Private Equity Investment Fund (Limited Partnership) completed filing on September 12. Henan Cultural Tourism Investment Group stated at the fund’s unveiling and strategic cooperation signing ceremony that the “Henan Cultural Tourism Digital Technology Private Equity Investment Fund” has a total scale of 150 million yuan, making it the first Metaverse fund in the Central Plains.
▌The first blockchain business for underground air-raid shelters relocation construction fees in the country lands in Xiong’an New Area
Recently, State Power Investment Corporation Xiong’an Energy Co., Ltd. completed the transaction of underground air-raid shelters relocation construction fees using tax blockchain technology, marking the successful implementation of the first blockchain business for underground air-raid shelters relocation construction fees in Xiong’an New Area, which is promoted nationwide.
The person in charge of Xiong’an New Area Tax Bureau stated that they will carefully learn from and summarize the experience of blockchain pilot projects in typical scenarios, expand applications to other types of fees, strive for more innovative pilot projects to take the lead in Xiong’an New Area, and make efforts to create a first-class tax business environment in Xiong’an New Area.
▌Academician Zheng Zhiming: Web 3.0 is expected to creatively solve key issues such as data ownership and value expression on the Internet
Academician Zheng Zhiming of the Chinese Academy of Sciences stated at the “2023 Web 3.0 Innovation Contest” that Web 3.0, as an important direction for the evolution of the new generation Internet ecosystem, is expected to creatively solve key issues such as data ownership and value expression on the Internet. Blockchain, privacy computing, and artificial intelligence are the core technologies of Web 3.0. As the reliable and secure foundation of Web 3.0, blockchain and privacy computing face many challenges, including breakthroughs in blockchain system security, dynamic adaptive technology, privacy computing technology in non-trusted environments, large-scale and high-efficiency secure and trusted application networks, and other key technologies.
▌Meta invites Android users to test the web version of the Metaverse platform Horizon Worlds
After the closed testing of the mobile version of the “Metaverse” platform Horizon Worlds by Meta in late August this year, it has recently invited Android users to experience it in advance and launched the web version. Meta stated that the iOS version will be launched in the next few weeks. In the following months, Meta plans to launch more worlds, allowing users to socialize with friends, participate in comedy shows, attend free concerts, and engage in various activities that can be accessed from any connected device.
Cryptocurrency
▌Liu Yuanchun, President of Shanghai University of Finance and Economics: The emergence of digital currency has greatly changed the public nature of world currencies
Liu Yuanchun, President of Shanghai University of Finance and Economics, stated at the China International Finance 30 Forum (15th session) on September 16 that there are multiple dimensions that determine the monetary system, including the scope of transactions involving currencies and related economies, innovative leadership, cultural leadership, provision of global public goods, security of currency-related economies, financial infrastructure and systems, and the trend of currency digitalization. The future changes in the monetary system depend not only on GDP and innovation centers but also on the trend of currency digitalization. The emergence of digital currency has greatly changed the public nature of world currencies, leading to variations in some macro fundamentals relying on traditional economic transactions and technological innovation. Digital currency technology has a decentralized characteristic, and its sovereign characteristics are somewhat diluted.
▌Ripple Labs Engineer: Liquidity Can Be Provided for Restricted Tokens on XRPL
Ripple Labs engineer Neil Hartner shared one of the latest discoveries about the functionality of XRP Ledger (XRPL), stating that liquidity can still be provided for restricted tokens on XRPL. The restricted tokens he referred to are digital currencies that require trust to authorize their use. Through this allowance, this feature makes XRPL Automated Market Makers (AMMs) more flexible than any other entity in the industry.
Hartner also described XRPL’s excellent liquidity rebalancing, which demonstrates that the protocol is indeed one of a kind. According to Hartner’s interaction with fans, he introduced XRPL as a smart contract network that can cater to users with different investment interests.
▌Collateral Value Based on ETH to Reach $7.71 Million
According to data from the Curve website, the total supply of Curve’s native stablecoin crvUSD is 112 million. The collateral value based on wstETH is $84.92 million, based on WBTC is $63.68 million, based on sfrxETH is approximately $13.23 million, and based on ETH is $7.71 million.
▌“Rich Dad Poor Dad” Author: Cryptocurrency is the Future
American businessman and bestselling author of “Rich Dad Poor Dad,” Robert Kiyosaki, declared on X (formerly Twitter) that fiat currency has come to an end and cryptocurrency is the future.
Important Economic Trends
▌99% Probability of the Fed Maintaining Interest Rates This Week
According to CME’s “FedWatch,” there is a 99% probability that the Fed will maintain interest rates at 5.25%-5.50% in September. The probability of a 25 basis point rate hike to the 5.50%-5.75% range is 1%. The probability of the Fed maintaining interest rates in November is 68.2%, with a cumulative 25 basis point rate hike probability of 31.5% and a cumulative 50 basis point rate hike probability of 0.3%.
LianGuai Encyclopedia
▌Paper Wallet
In most specific senses, a paper wallet is a file that contains all the necessary data to generate a Bitcoin private key, forming a key wallet. However, people commonly use the term to describe a way of offline storage for Bitcoin in physical paper form. The second definition also includes paper keys and redeemable codes.
Disclaimer: LianGuai, as a blockchain information platform, publishes articles for informational purposes only and does not serve as actual investment advice. Please establish the correct investment concept and be sure to increase risk awareness.
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