This week's news preview | The Federal Reserve will announce its interest rate decision; TOKEN 2049 and other events will open; Trump's crypto project will start live broadcast

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Arrangement: Fairy, ChainCatcher

Key news:

September 16 (Monday)

Ethena Season 2 airdrop query page is pushed to September 16th

A member of the Ethena team stated in its official Discord channel that the airdrop query page has not yet been launched and has been postponed to next Monday to ensure that everything is accurate. Claims will begin on September 30.

Earlier news, Ethena Labs announced that the second season airdrop event will end on September 2, and 5% of the total supply of ENA will be distributed as rewards for the second season. Users will be able to visit the designated website on September 9 to view the amount of ENA they will receive, and users can claim their ENA on September 30.

VanEck Ethereum Futures ETF Shareholders Must Sell Their Shares at Market Close

ETF issuer VanEck announced plans to close and liquidate its Ethereum Futures ETF (EFUT), and the board of directors of VanEck ETF Trust approved the liquidation and dissolution of the fund. VanEck said that VanEck continues to monitor and evaluate its ETF products, covering multiple factors, including performance, liquidity, asset management scale and investor interest. The decision was made based on an analysis of these factors and other operational considerations to liquidate the fund.

Shareholders of the Fund may sell their shares on the Fund's listing exchange prior to the close of the market on September 16, 2024 (dealer transaction fees may apply). After the close of the market on September 16, 2024, the Fund's shares will no longer be traded on the Fund's listing exchange and will subsequently be delisted. The Fund's liquidation date is expected to be on or about September 23, 2024, at which time shareholders who still hold Fund shares will receive a cash liquidation distribution in the cash portion of their brokerage accounts equal to the net asset value of their shares.

Binance Launchpool will launch Catizen (CATI) on September 16

According to the official announcement, Binance launched the 59th Launchpool project Catizen (CATI), a cat-themed game robot based on the Telegram applet platform. Users can get CATI airdrop rewards by staking BNB and FDUSD for four days starting at 00:00 (UTC) on September 16, 2024. Binance will list Catizen (CATI) at 18:00 (Eastern Time) on September 20, 2024, and open CATI/USDT, CATI/BNB, CATI/FDUSD and CATI/TRY trading markets, and the seed tag trading rules will apply.

WazirX plans to hold a second meeting on September 16 to discuss the draft restructuring plan

WazirX stated in a post on X that it plans to hold a second Townhall meeting at 18:00 on September 16 to discuss the draft proposed restructuring plan.

September 17 (Tuesday)

Trump's crypto project WLFI will start live broadcast at 8:00 on September 17, and Trump will deliver a speech

World Liberty Financial (WLFI), a Trump family project, posted on the X platform that it will start the project live broadcast at 8:00 am Beijing time on September 17, when Trump will deliver a speech.

ether.fi: Season 3 airdrop activity will be open for inquiry on September 17 and for claiming on September 23

ether.fi said on social media that the airdrop for Season 3 will end on September 14. The query page is planned to be launched on September 17, and the claim will start on September 23. Season 3 participants can choose to claim ETHFI on the Ethereum mainnet, Arbitrum or Base network, and must make a choice before September 15.

EigenLayer announces second quarter staking airdrop plan, distribution will start on September 17

EigenLayer announced the second quarter staking airdrop plan, which will distribute 86 million EIGEN tokens, accounting for 5% of the total supply .

Stakers and node operators will receive 70 million tokens, while ecosystem partners and the EigenLayer community will receive 10 million and 6 million tokens respectively, with distribution starting on September 17. These tokens represent approximately 5% of the total EIGEN supply, which will amount to 1.67 billion tokens at launch.

OKX plans to adjust the gradient tier rules for some contracts on September 17

According to the official announcement, in order to further improve market liquidity and prevent market risks, OKX plans to adjust the gradient tier rules of some contracts from 4:00 to 6:00 pm on September 17, 2024 (UTC+8).

Namada: The first phase of pre-genesis will end on September 17

The privacy public chain Namada posted on the X platform that the pre-genesis phase 1 will end at 5:00 am Beijing time on September 17. In phase 2 (delegation), users can still create validators, but will not be able to edit or delete them.

September 18 (Wednesday)

TOKEN 2049 Singapore will be held in Singapore from September 18 to September 19

TOKEN 2049 Singapore will be held from September 18 to September 19, 2024 in Singapore.

U.S. House of Representatives holds hearing on SEC enforcement and “pig killing” scams

The U.S. House Financial Services Committee plans to hold several hearings in September, focusing on cryptocurrency-related issues, including decentralized finance (DeFi), regulation by the U.S. Securities and Exchange Commission (SEC), and the impact of the "pig killing" scam.

The first hearing on September 10 will focus on DeFi, a hearing on SEC enforcement and the "pig killing" scam will be held on September 18, and the full committee hearing on September 23 will involve testimony from the SEC and is expected to focus on the regulation of digital assets. Committee Chairman Patrick McHenry is retiring and has expressed his hope to complete a cryptocurrency legislation by the end of the year.

DOGS: More than 7 million addresses have received on-chain airdrops. Users must complete the claim before September 18.

DOGS updated the announcement in the official telegram channel: More than 7 million people have received their on-chain airdrops. So far, nearly 120 billion tokens have been distributed on the chain, and the token distribution is about to end.

Important Deadlines: The last time users can select the quick claim option is tomorrow evening at 8pm UTC, and users must confirm their airdrop claim by 8pm UTC on September 18th, and the airdrop will be completed by September 26th (a full month after the end of the TGE).

MakerDAO rebrands Sky feature to launch on September 18

MakerDAO rebranded Sky and published a post on X stating that the Sky function will be launched on September 18, and users are welcome to participate in the Sky Launch Party.

Binance launches SUI coin-based perpetual contract with a maximum leverage of 20x

According to the official announcement, Binance will launch the SUI coin-based perpetual contract at 10:00 (UTC) on September 18, 2024, with a maximum leverage of 20 times.

Vitalik will deliver a keynote speech at the TOKEN2049 OKX venue on September 18

According to the official website of TOKEN2049, Ethereum co-founder Vitalik Buterin will deliver a keynote speech at the OKX venue from 12:45 to 13:05 Beijing time on September 18.

In addition, Vitalik Buterin will discuss the topic of "The Next 3 Years in Crypto" with OKX CEO Star, Circle co-founder and CEO Jeremy Allaire, and OKX CMO Haider Rafique from 13:10 to 13:40 Beijing time on September 18.

The documentary "Vitalik: The Story of Ethereum" will be released globally on September 18

Ethereum Stories co-producer Linda Xie posted on X: "The Ethereum Stories documentary has been in the works for more than 3 years and is about to be shared with the world. We will release the feature documentary "Vitalik: The Ethereum Story" and the "Ethereum Story" short film series. Thank you very much to our Mirror crowdfunding supporters for making this possible." In addition, it stated that before the documentary's mainstream debut on traditional streaming platforms, a complete crypto-native distribution will be launched, including on-chain tickets and more than 250 global IRL premieres.

The specific casting and release plan is as follows:

  • Phase 1: The documentary will be released as Zora Mint on July 23. The top 20 casters will receive premiere tickets, credits at the end of the film, and other rewards;
  • Phase 2: Pre-sale of movie tickets will start on the Base chain on July 26;
  • Phase 3: Global launch on September 18;
  • Phase 4: Films will continue to be screened until autumn 2024;
  • Phase 5: Launch on major streaming platforms by the end of 2024 or 2025.

Trump's hush money case verdict postponed to September 18

According to Cailian Press, a court document shows that a New York judge has postponed the verdict in the "hush money" case involving former US President Trump, which was originally scheduled for July 11, to September 18.

Earlier news , court documents showed that the verdict in Trump's "hush money" case may be delayed by two weeks.

Setter will be launched on the mainnet on September 18

Setter announced that it will officially launch the mainnet on September 18. Crate holders, testnet and application participants can receive STR rewards. Crate holders can receive it as early as September 18, and other collection times are to be announced.

Kinto will allocate 2% of the token supply as mining rewards on September 18th

Layer2 network Kinto announced that Kinto's mining rewards will reach an all-time high. Before September 18, Kinto will allocate 2% of its token supply as mining rewards.

September 19 (Thursday)

Binance will upgrade its system on September 19, which is expected to take about 10 minutes.

Binance announced that it will start routine system upgrades at 17:30 (Beijing time) on September 19, 2024, which is expected to take about 10 minutes.

During the upgrade, users can continue to trade in Binance spot and margin markets. The main improvements of this upgrade include improved data system performance and stability. However, during the upgrade, App, website, and desktop users will not be able to view unfulfilled orders placed during the upgrade, so they may not be able to cancel these pending orders.

Coinbase International will launch POL and DOGS perpetual contracts

According to the official announcement, Coinbase will add support for Polygon and Dogs perpetual contracts on Coinbase International Exchange and Coinbase Advanced. The POL-PERP and DOGS-PERP markets will open on or after 9:30 AM UTC on September 19, 2024.

The Federal Reserve will announce its interest rate decision and a summary of economic expectations at 2 a.m. on Thursday. Analysts are divided on the extent of the rate cut.

The Fed is scheduled to release its interest rate decision and a summary of economic expectations at 2 a.m. next Thursday. Traders are pricing in almost equal odds of a 25 basis point and 50 basis point rate cut next week. The changing bets reflect one of the key questions facing markets today: Will the Fed cut rates aggressively to stem the slack in the labor market, or will it take a slower pace of rate cuts to stay on the sidelines.

Federal funds futures are pricing in more than two percentage points of rate cuts over the next 12 months, a scenario rarely seen outside of a recession. “With the S&P 500 near all-time highs and credit spreads narrow, starting a rate-cutting cycle with a big cut seems like something that only the Fed knows something that no one else does,” said James St. Aubin, chief investment officer at Ocean Park Asset Management, which manages $5.3 billion in assets. “I think a 50 basis point cut is likely to do more harm than good in terms of market sentiment.”

In any case, even if the Fed cuts rates by 25 basis points next week, the meeting could be seen as a dovish one as long as Powell does not oppose expectations of one or even two 50 basis point cuts in the final two meetings of the year.

Terraform Labs bankruptcy reorganization hearing scheduled for September 19

According to Terra's official announcement, the plan confirmation hearing for the Chapter 11 bankruptcy reorganization case of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) has been scheduled for 10 a.m. Eastern Time on September 19, 2024 (10 p.m. Beijing time).

September 20 (Friday)

OKX launches Catizen (CATI)

According to the official announcement, OKX will launch Catizen (CATI) spot trading.

The specific schedule is as follows:

  • CATI deposit opening time: September 9, 9:00 PM (UTC+8)
  • CATI call auction time period: 6:00 pm to 7:00 pm on September 20 (UTC+8)
  • CATI/USDT spot trading opening time: September 20, 7:00 PM (UTC+8)
  • CATI withdrawal opening time: September 21, 6:00 pm (UTC+8).

On-chain reputation and credit project Ethos plans to launch testnet on September 20

The on-chain reputation and credit project Ethos Network announced that the Ethos testnet will be launched on September 20, open only to users on the waitlist. Ethos said that the activities of testnet users will be recorded and monitored for future rewards.

September 21 (Saturday)

Rollup.Finance plans to completely shut down the platform on September 21

The decentralized derivatives trading platform Rollup.Finance has announced that it will soon cease operations. The project team stated that despite overcoming the challenges of the bear market and achieving trading volume growth in the past 16 months, the decision to cease operations was made due to the lack of resources and product-market fit of zkSync.

Users have one month to close their positions and withdraw their funds, and the platform will be completely shut down on September 21, 2024. Open orders at expiration will be automatically liquidated, and affected users will have an additional month to withdraw their funds. After that, Rollup.Finance's email, official Twitter account, and Discord support channel will be deactivated.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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