US SEC rejects Hex founder Richard Heart's request to dismiss lawsuit
According to The Block, according to a public document, the U.S. Securities and Exchange Commission (SEC) rejected Hex founder Richard Heart's attempt to dismiss his lawsuit, indicating that it has the right to proceed with the case. The SEC sued Richard Heart, the founder of Hex and PulseChain, in 2023, accusing him of raising more than $1 billion through unregistered securities offerings and using the funds to purchase luxury goods such as luxury cars, designer clothing and diamonds. Heart's lawyers refuted the allegations in a motion to dismiss, saying that Heart's actions did not constitute fraud because he did not promise any returns to investors. In addition, Hex, PulseChain and Pulse X are not securities, and Heart lives abroad. The next hearing in the case is scheduled for October 24.
OmegaPro co-founder arrested in Türkiye for alleged $4 billion cryptocurrency Ponzi scheme
OmegaPro co-founder Andreas Szakacs was arrested in Turkey in July for his alleged involvement in the company's cryptocurrency Ponzi scheme that defrauded investors of $4 billion, CoinDesk reported Thursday, citing Turkish media. Szakacs changed his name to Emre Avci after becoming a Swedish citizen. Reports say he denied the charges and said he worked in finance and marketing. Local media said the gendarmerie seized his computers and 32 cold wallets, and although Szakacs did not provide the passwords to the devices, Turkish authorities were able to track the movement of $160 million worth of cryptocurrency.
OmegaPro reportedly collapsed in late 2022, around the same time as FTX’s collapse. Prior to that, countries including France, Belgium, Spain, and Argentina had issued regulatory fraud warnings against the company. The company said OmegaPro did not target U.S. customers. The arrest was made based on a tip from an anonymous tipster on June 28.
Colombian regulator charges Worldcoin with alleged data protection violations
According to CoinDesk, the Colombian Industrial and Commercial Supervision Bureau (SIC) accused the decentralized identity project Worldcoin and the company behind it, Tools for Humanity, of violating personal data protection regulations. In a statement, the SIC said that the accusation was a preliminary prosecution and not a formal accusation, aimed at determining whether these companies violated Colombia's data protection laws in their personal data collection and processing policies. Worldcoin currently collects personal data in 25 locations in Colombia, including cities such as Bogota, Medellin, Cartagena and Barranquilla. If convicted, the SIC may impose economic sanctions on it, or temporarily or even permanently close its operations in Colombia.
According to Decrypt, Company X (formerly known as Twitter) has released a list of shareholders, revealing that when Elon Musk acquired the platform for $44 billion in 2022, multiple companies related to cryptocurrency and artificial intelligence participated in the investment. These shareholders include Binance Capital Management, Andreessen Horowitz (a16z), which has invested in crypto companies such as Coinbase and Anchorage Digital, and ARK Invest, which holds shares in Robinhood and AI developer Anthropic. In addition, the list also includes nearly 30 entities related to Fidelity. The list was made public in response to a court order, and the identities of most shareholders had not been disclosed before.
Conduit Launches One-Stop Rollup Platform Conduit Marketplace
According to the official blog of Conduit, Conduit has launched a new Conduit Marketplace, which aims to provide a one-stop integration solution for Rollup teams. The platform brings together tools from 48 partners, and Rollup developers can easily find, purchase and integrate applications for various chain requirements on the platform. With the "one-click integration" function, developers can quickly add selected tools to their Rollup without leaving the Conduit platform.
Foreign media: CZ has left prison, but is still in custody
According to Decrypt, according to the U.S. Bureau of Prisons, CZ is expected to be released on September 29. But he was transferred this week from a minimum security prison in Southern California to RRM Long Beach, a residential program for prisoners who are about to be released to prepare for reentry into society. RRM, the Office of Reentry Management, is often referred to as a "halfway house." In other words, some Twitter users are correct in claiming that CZ has been released from prison. But he is still in the custody of the U.S. government and cannot move freely. By the end of September, CZ should be free again and may return to Dubai to reunite with his family. CZ has not left the United States since he pleaded guilty in November last year. But even after reaching a settlement with the U.S. government, he is still the richest person in the cryptocurrency field, with a net worth of up to $47.7 billion at the latest statistics. As part of the settlement agreement, CZ was also banned from operating or managing Binance for three years. He said he plans to use this time to focus on other businesses such as education and passive investment.
Coinbase International will launch Render, Saga and Threshold perpetual futures contracts
According to the official announcement, Coinbase International Exchange and Coinbase Advanced will add support for Render, Saga and Threshold perpetual futures contracts. The RENDER-PERP, SAGA-PERP and T-PERP markets will be open on or after 17:30 on August 29, 2024, Beijing time.
Babylon has launched the Bitcoin staking mainnet and has reached the Bitcoin staking online
Bitcoin staking protocol Babylon announced on X platform that it has launched the Bitcoin staking mainnet, and users can participate in the first phase of the Babylon Bitcoin staking mainnet. The launch of the Babylon Bitcoin staking mainnet brings a third local use case for Bitcoin assets in addition to value storage and simple payments: staking to protect the PoS network and earn rewards.
Later that evening, Bitcoin staking protocol Babylon announced on the X platform that the first phase of Bitcoin staking mainnet has reached the staking limit. According to previous news, the initial total staking limit for the first phase is 1,000 BTC. In addition, mempool.space data shows that the Bitcoin network transaction fee has now fallen back to 4 satoshis/byte.
Magic Eden expands beyond NFTs and now allows token swaps through its mobile app
According to Bloomberg, NFT market Magic Eden launched its first mobile wallet application on Thursday, allowing the trading of NFTs and swapping of cryptocurrencies such as Bitcoin, Ethereum and Solana. The platform will also begin using tokens issued by the foundation that supports the ME ecosystem. Magic Eden's new application will support the exchange of digital assets across five blockchains: Bitcoin, Ethereum, Solana, Polygon and Base. Magic Eden is also considering expanding into categories such as staking tokens, a service that provides returns to holders.
According to The Block, SatLayer, a Bitcoin re-staking platform based on the Bitcoin staking protocol Babylon, raised $8 million in the Pre-Seed round of financing, led by Hack VC and Castle Island Ventures, with participation from Franklin Templeton, OKX Ventures, Mirana Ventures, Amber Group, Big Brain Holdings, CMS Holdings and other companies, and undisclosed angel investors from companies such as aPriori, Custodia Bank, LayerZero, Manta Network, Magic Eden, Sui and Pendle also participated in this round of financing. The structure before Pre-Seed financing is a simple future equity agreement (SAFE) with token warrants.
According to reports, SatLayer is a Bitcoin re-staking platform based on the Babylon protocol, which aims to connect Bitcoin to a Proof-of-Stake network that can generate income. With SatLayer, users can now re-stake Bitcoin and Bitcoin liquidity staking tokens minted on Solv Protocol, Lombard, Bedrock, pStake, and PumpBTC, and use secure Bitcoin verification services.
MakerDAO said on the X platform that Endgame introduced upgraded versions of DAI and MKR, NewStable and NewGovToken. However, DAI and MKR will still be available. Unless the governance department decides otherwise, the two tokens are expected to remain unchanged for the foreseeable future. Users can continue to hold and use the two tokens as before.
DAI will remain available indefinitely. Users can upgrade to NewStable and can choose to revert back to DAI at any time. 1 DAI = 1 NewStable (NST). The ecosystem will eventually explore ways to differentiate between DAI and NewStable, with DAI focusing on crypto-native use cases and NewStable targeting mass adoption. MKR can still be used to vote on governance proposals. Eventually, NewGovToken (NGT) will be used for voting, with seamless conversion back to MKR to ensure flexibility. During the upgrade, 1 MKR = 24,000 NewGovToken (NGT). The redenomination of NewGovToken is intended to promote broader governance participation. It allows more users to hold large amounts of NewGovToken and actively influence the future of the ecosystem. Upgrading to NewStable and NewGovToken is optional.
Binance Futures launches POPCAT and SUN 1-75x USDT perpetual contracts
Puffer Finance updates roadmap: TGE is planned for early Q4
Puffer Finance, the Ethereum liquidity re-staking protocol, has updated its roadmap and plans to launch the Puffer UniFi testnet and validator reward mechanism in September. Puffer V2 and TGE will be launched in early Q4. AVS and UniFi mainnet will also be launched later in the same quarter.
Franklin Templeton expands its blockchain fund to Avalanche
Grayscale launches investment trust for Avalanche’s AVAX token
Binance Labs Invests in Four Projects in BNB Chain’s Seventh Season of MVB Accelerator Program
According to the official blog, after a rigorous evaluation process, Binance Labs announced investments in the four best-performing projects in the BNB Chain Season 7 MVB Accelerator Program, including Aggregata, a decentralized project for scaling AI data, Opinion Labs, a dynamic public opinion and continuous prediction market, SideKick, a gaming and social platform, and Vooi, a cross-chain perp DEX aggregator that supports EVM and non-EVM chains.
CryptoQuant: Crypto OTC Trading Desks Currently Hold Over $22 Billion Worth of Bitcoin
According to data from data tracking company CryptoQuant, cryptocurrency over-the-counter (OTC) desks, which act as intermediaries between two trading parties and do not disclose transaction information to the public, currently hold 368,000 bitcoins worth more than $22 billion, CoinDesk reported. This figure has increased by 153,000 BTC in three months, reaching the highest level since June 2022.
Institutional and large traders tend to trade through OTC desks or exchange order books to avoid affecting the prevailing market rate of an asset. As a result, activity on OTC desks is said to reflect the behavior of sophisticated market participants, including crypto miners. "Miners often sell Bitcoin through OTC trading, seeking better execution without influencing the market price as they would on exchanges," CryptoQuant said in a blog post. "A large increase in OTC balances indicates active selling activity by miners." CryptoQuant added: "Historically, increases in Bitcoin OTC desk balances have been associated with declines in Bitcoin prices."
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