Headlines
▌Prediction platform Polymarket considers launching over $50 million in token financing
According to sources, decentralized crypto prediction platform Polymarket is considering raising more than $50 million through token issuance to support its platform operations. Investors in this financing will receive token warrants, which will give them the right to purchase tokens if they are issued in the future. However, Polymarket has not made a final decision yet, and there is still no clear timetable for token issuance.
In May this year, Polymarket completed a $45 million Series B financing led by Peter Thiel's Founders Fund. Other well-known investors include Ethereum co-founder Vitalik Buterin. The platform has currently attracted nearly $1 billion in bets, mainly focusing on major events such as the 2024 US presidential election.
▌ OpenAI CEO Sam Altman predicts that AI will bring unprecedented prosperity and solve climate problems
Sam Altman, co-founder and CEO of OpenAI, published a blog post on September 23, saying that humans are about to enter the "Intelligent Age" and AI technology will bring unimaginable prosperity. Altman said that AI will not only accelerate scientific progress, but will also gradually solve global problems such as climate change, and may achieve the establishment of space colonies and reveal all the mysteries of physics within a few decades. He optimistically predicted that future AI systems will have super strong self-evolution capabilities, making human technological breakthroughs "commonplace." Altman believes that the arrival of this era will bring great prosperity and change our way of life.
Quotes
As of press time, according to Coingecko data:
BTC's latest transaction price is $63,374.96, with a daily change of -0.1% ;
ETH's latest transaction price is $2,649.10, with a daily change of + 2.7% ;
BNB's latest trading price is $605.10, with a daily change of +2.8% ;
SOL's latest trading price is $144.85, with a daily change of +0.3% ;
DOGE's latest trading price is $0.1081, with a daily change of +0.9% ;
XPR's most recent trading price was $0.5852, with a daily change of -0.3% .
policy
▌ More than 40 US Republicans call on the SEC to repeal SAB 121
U.S. House Financial Services Committee Chairman Patrick McHenry, Senator Cynthia Lummis, and 40 other politicians wrote to SEC Chairman Gary Gensler on September 23, saying that SAB 121 subverts cryptocurrency custody rules, weakens consumer protection, and stifles financial innovation.
The 42 politicians also claimed that SAB 121, a proposed rule that would require SEC reporting entities that custody cryptocurrencies to record those holdings as liabilities on their balance sheets, was issued without consulting any “prudential regulators” and that the accounting method “deviates from established accounting principles.” The politicians also slammed the SEC’s Office of the Chief Accountant for working with certain institutions to circumvent balance sheet reporting requirements — threatening to create inconsistencies across the board.
▌ Mango Markets intends to reach a $500,000 settlement agreement with the CFTC, but community approval is still required
Decentralized crypto exchage Mango Markets is considering a $500,000 settlement with the U.S. Commodity Futures Trading Commission (CFTC). The exchange faces CFTC charges for not registering as a commodity exchange, illegally providing services to U.S. users, and failing to conduct customer identity verification. Mango Markets' legal representatives proposed to avoid the lawsuit by paying a fine, but did not admit or deny any wrongdoing.
The proposal needs to be voted on by MNGO, the holder of Mango Markets’ governance token, and the current results show that it is likely to be approved. In addition, the CFTC commissioners also need to approve the agreement. Previously, Mango Markets also reached a settlement with the U.S. Securities and Exchange Commission (SEC) and paid a fine of approximately $700,000.
Blockchain Applications
▌Siemens uses JPMorgan Onyx blockchain to settle digital commercial paper
German industrial giant Siemens has successfully issued and settled 100,000 euros worth of digital commercial paper through JPMorgan Chase's Onyx blockchain platform and SWIAT's private blockchain. The transaction was conducted under the German Electronic Securities Act (eWpG), with payment made using JPMorgan Chase's JPM Coin System and asset transfers completed via the SWIAT network's delivery-versus-payment (DvP) mechanism. The entire process took only 93 seconds, marking the start of Onyx's collaboration with SWIAT in developing digital asset issuance products for commercial banks.
The move aims to shorten the value chain, improve transaction flexibility and speed, and promote the large-scale application of blockchain in financial transactions.
▌BlackRock verifies Bitcoin holdings through blockchain nodes to ensure the security of ETF assets
According to Eric Balchunas, a well-known ETF analyst, global asset management giant BlackRock extracts the balance of its Bitcoin address from Coinbase Prime through its own blockchain node every day to verify the Bitcoin holdings of its spot Bitcoin ETF. Although this data is only available to institutional clients, BlackRock has won widespread trust with its 30-year flawless record. Unlike crypto platforms such as FTX, BlackRock's ETF system is highly transparent, secure, and has always followed a strict custody process.
Despite market doubts about the transparency of its Bitcoin transactions, Balchunas stressed that BlackRock ensures the security of assets and customer trust through self-custody and blockchain verification.
Cryptocurrency
▌ OpenAI’s news account on the X platform was hacked and published false cryptocurrency information
OpenAI's official news account was hacked on the X platform and posted information about a fake cryptocurrency "$OPENAI". The post claimed that the token "connects artificial intelligence and blockchain technology" and encouraged all OpenAI users to claim part of its initial supply. However, $OPENAI does not exist, and the post link points to a phishing website that mimics OpenAI's official website, attempting to steal users' login credentials. The "Get $OPENAI" button on the website induces users to connect their crypto wallets. The false information has not been deleted, and the comment function has been disabled, which increases the concealment of the scam. This is not the first time OpenAI has suffered such an attack. As early as June 2023, its CTO's account also posted information about similar fake tokens. OpenAI has become the target of multiple phishing campaigns, and users need to be vigilant to avoid being deceived.
▌ Celestia Foundation Completes $100 Million Financing
Celestia Foundation, the team behind the Celestia blockchain network, announced the completion of a $100 million financing round, led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder and others, bringing the total financing for the project to $155 million.
DTCC and Digital Asset complete pilot project on tokenization of U.S. Treasury bonds to improve settlement efficiency
Blockchain solutions provider Digital Asset and the Depository Trust & Clearing Corporation (DTCC) recently completed a pilot project on the Canton network to tokenize U.S. Treasury collateral. The project involved 26 market participants and completed 100 transactions, aiming to improve settlement speed, ensure privacy and comply with legal requirements.
In the pilot, participants converted U.S. Treasury bonds (UST) into "digital twin" tokens and applied them to multiple scenarios, including trading, mortgages, and default processing. The system can complete asset transfers instantly when a margin call occurs, and all transaction processes can be tracked and audited. Even in the event of an investor default, the relevant parties can quickly transfer assets in accordance with the law to ensure transaction security.
This project demonstrates the technical advantages of the Canton network, especially innovations in transaction privacy and legal compliance, promoting the application of tokenized assets in the financial market.
Important economic developments
▌The probability of the Federal Reserve cutting interest rates by 25 basis points in November is 45.2%
According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points by November is 45.2%, and the probability of cutting interest rates by 50 basis points is 54.8%. The probability of a cumulative rate cut of 50 basis points by December is 23.4%, the probability of a cumulative rate cut of 75 basis points is 50.2%, and the probability of a cumulative rate cut of 100 basis points is 26.5%.
▌Wall Street strategist Yardeni: The Fed’s rate cut increases the possibility of a stock market “melt-up”
Wall Street strategist Ed Yardeni said U.S. stocks have the potential to soar to new highs thanks to the Federal Reserve's aggressive rate cuts last week, but could also lead to a return of inflation if Fed officials don't tread carefully. The latest policy decision raises the odds of a "full melt-up" in stock prices -- like the dot-com bubble that saw the S&P 500 surge 220% from 1995 to the end of the century -- to 30% from 20%. He sees an 80% chance of a bull run, with the other 20% being a 1970s-style scenario, when global stock markets were roiled by inflation and geopolitical tensions. But there are broader risks if things start to get too hot. "If they overheat the economy and create a bubble in the stock market, then they're going to cause some problems," said the founder of Yardeni Research Inc. He added that the Fed is ignoring the upcoming U.S. presidential election, with both candidates offering policy ideas that could stoke inflation.
Golden Encyclopedia
What is the Algorithm of Thought (AoT)?
Algorithms of Thought (AoT) is a groundbreaking approach in the field of artificial intelligence (AI) that revolutionizes the way AI models think and reason. Developed by Microsoft Research, AoT introduces a new paradigm for large language models (LLMs) to enhance reasoning capabilities to solve complex problems. It aims to combine the best of both worlds: a nuanced, intuitive understanding of the human thought process with the structured, systematic nature of an algorithmic approach.
Disclaimer: As a blockchain information platform, Jinse Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
