The US Democratic Party does not mention anything about crypto in its latest party platform
Fox Business reporter Eleanor Terrett wrote that the Democratic Party officially released its party platform on the first day of the Democratic National Convention. There was no mention of blockchain technology, Bitcoin, digital assets or anything related to encryption.
According to CoinDesk, Fabric Cryptography, a company developing cryptographic "VPU" chips, announced the completion of a $33 million Series A financing round, led by Blockchain Capital and 1kx, with participation from Offchain Labs, Polygon and Matter Labs. The new funds will be used to build computing chips, software and encryption algorithms.
According to reports, the project has previously raised $6 million in a seed round led by Metaplanet. Fabric's founders include MIT and Stanford dropouts Michael Gao and Tina Ju, as well as hardware industry veteran Sagar Reddy. The core of Fabric's roadmap is to build a new processing unit called a "verifiable processing unit (VPU)", which will be specifically used to process encryption technology. Fabric said the new chip is expected to go into production later this year.
Source: SEC had talks with ETF issuer before Cboe removed Solana ETF’s 19b-4 form
According to The Block, the U.S. Securities and Exchange Commission (SEC) had held talks with potential Solana ETF issuers and expressed concerns about Solana's potential status as a security before Cboe BZX removed the Solana ETF-related 19b-4 form from its website, according to people familiar with the matter. After the discussion, the SEC and Cboe agreed not to submit the 19b-4 form to the Federal Register. The 19b-4 documents submitted by Cboe on behalf of ETF issuers last weekend are no longer displayed on the exchange website. They are also not currently in the Federal Register. For the ETF to be approved, the 19b-4 form must first be approved and the S-1 registration statement must take effect. Currently, VanEck's Solana ETF's S-1 registration statement is still displayed on the SEC's filing system EDGAR. The S-1 registration statement document for 21Shares no longer appears in search results, but the direct link is still valid.
The source said that given that the SEC had previously called Solana a security in multiple court filings, its stance was not surprising to the issuer. The source said they expect there may be new filings or amendments to the 19b-4 in the future that attempt to prove that Solana is not a security.
Although both Bitcoin and Ethereum spot ETFs have cleared regulatory hurdles and started trading, most market observers had expected the SEC to be more reluctant to approve the new Solana fund. Nate Geraci, president of The ETF Store, said on August 17 that the Solana ETF would have no chance of approval under the current Biden administration. Bloomberg ETF analyst James Seyffart said the fund "could only be launched sometime in 2025 if a new White House and SEC administration came to power. Even then there is no guarantee of approval." While the SEC claims that Solana is a security, VanEck believes that Solana is a commodity that functions similarly to Bitcoin and Ethereum.
Trump: If elected president, he will consider Musk as a cabinet or advisory role
According to Cailian Press, former US President Trump said that if he is elected as the next US president, he will consider canceling the $7,500 electric vehicle tax credit; he will consider letting Musk serve in a cabinet or advisory role if he is willing.
Foreign media: If Harris wins the election, she may nominate Gary Gensler as US Treasury Secretary
According to Washington Reporter, citing people familiar with the matter, if U.S. Vice President Harris wins the presidential election in November this year, she plans to nominate Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), as Treasury Secretary. Gensler was appointed as SEC chairman by Biden in 2021, and his cryptocurrency stance has been criticized by politicians from both parties. Minnesota Republican Senator Tom Emmer said the crypto industry must resist Gensler's "actions to subvert free markets, innovation and global competitiveness," while New York Democratic Representative Ritchie Torres called Gensler's understanding of securities laws "manipulable." However, some industry insiders are skeptical of the report. Caitlin Long, CEO of Avanti Bank, posted on the X platform that Gensler himself might spread rumors that he would be nominated for a cabinet position "to disrupt all of us." Bloomberg ETF analyst Eric Balchunas also agreed with this view, saying it might be a fabricated rumor. He said: "If Republicans want to get the votes of cryptocurrency supporters, it's hard to imagine a more impactful message than showing people that Gensler will have more power."
Solana-based stablecoin project UXD Protocol plans to shut down
According to DLNews, the Solana-based stablecoin project UXD Protocol plans to gradually end operations and return unused capital to investors. The project currently has $7.5 million in user deposits. The UXD team cited insufficient liquidity and the inability of the stablecoin model to achieve product-market fit as the reason for terminating the project, which was launched in 2021. "The model does make stablecoins stable, but it is not exciting enough for DeFi users and does not provide enough advantages over centralized stablecoins," the team said in a DAO forum post on Monday. "We believe that terminating the project and returning capital to investors is the best use of capital and team resources." The protocol's closure and capital repayment process is awaiting a DAO vote, which is already underway and will last for a week. The team said that if the vote passes, the entire closure process could take up to two years due to the presence of illiquid assets in the insurance fund.
Simon Gerovich, CEO of Metaplanet Inc., a Japanese listed company, said on the X platform that the company purchased an additional 57.273 BTC at an average price of 8,730,117 yen per coin. As of August 20, Metaplanet held approximately 360.368 bitcoins, acquired at an average price of 9,573,556 yen per coin, with a total value of 3.45 billion yen.
Jupiter said on the X platform that the team received reports over the past week that a small number of users using Solana DeFi had their funds drained. After extensive investigation, the team discovered a malicious Chrome extension called "Bull Checker" that targeted users on several Solana-related subreddits. Users with this extension will be able to interact with dApps normally, and simulations will display normally, but their tokens may be maliciously transferred to another wallet when the transaction is completed. If users have this extension (or a similar extension with broad permissions that cannot be trusted), it is recommended to delete it immediately. No vulnerabilities were found in any dapp or wallet.
According to Crypto.com's latest market size report, the global cryptocurrency market holdings increased significantly in the first half of this year. By June, the number of holders increased by 6.4% to 617 million from 580 million at the end of 2023. This growth was mainly due to key developments in the Bitcoin and Ethereum ecosystems, especially the launch of spot ETH pegged to these two digital assets. Bitcoin remains the dominant cryptocurrency, with its holdings increasing by 5.9% to 314 million by mid-year, accounting for 51% of all cryptocurrency holders. At the same time, Ethereum's adoption rate has increased significantly, increasing by 9.7%, bringing the total number of ETH holders to 136 million, accounting for 22% of the global market.
Web3 security company Pocket Universe said it detected that the front end of Parcl's official website was hacked, which would extract tokens from the user's Solana wallet and display false transaction results in Phantom. Parcl's X account also seemed to have been hacked, publishing information related to PARCL rewards.
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