Crypto.com confirms receipt of SEC Wells notice, files lawsuit against SEC
According to official information, Crypto.com has confirmed that it has received a Wells notice from the U.S. Securities and Exchange Commission (SEC) and has announced that it has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC). The Wells notice indicates that SEC staff believe the company may have violated federal securities laws.
Crypto.com stated that the notice indicates that despite the parties' statements that the next administration will take a more constructive and effective approach to promoting the development of crypto technology in the United States, the unauthorized and unfair enforcement and regulatory activities of the U.S. Securities and Exchange Commission are still ongoing. Crypto.com's lawsuit argues that the SEC has unilaterally expanded its jurisdiction beyond statutory limits, and that the SEC has established an illegal rule that virtually all trading of crypto assets is securities trading, regardless of the method of sale, while the same trading of Bitcoin and Ethereum is not.
Scroll: SCR airdrop snapshot planned for October 19, distribution on October 22
The Ethereum Layer2 network Scroll has published the details of the token distribution design on the X platform, with a total token supply of 1 billion SCR, the airdrop snapshot date is October 19, 2024, and the token release date and airdrop claim time is October 22, 2024.
Scroll stated that SCR will be used as the main governance mechanism of the protocol, and will evolve into a protocol utility token as Scroll becomes more decentralized, and will share more details about the SCR token release and airdrop claim in the coming days.
Standard Chartered: If Trump is elected US president, Solana price could rise 5-fold by 2025
According to The Block, based on current prices and the potential impact of Donald Trump winning the US presidential election, Geoff Kendrick, head of global digital assets research at Standard Chartered, predicts that by the end of 2025, Solana's price could rise five-fold, Ethereum could rise four-fold, and Bitcoin's value could rise three-fold. He also said that if Harris becomes president, he expects Bitcoin to outperform Ethereum, which in turn will outperform Solana. He added: "In US dollar terms, we expect Ethereum to reach $7,000 by the end of 2025 under a Harris presidency." Regardless of the election result on November 5, Kendrick expects Bitcoin's price to rise to $200,000 before the end of 2025.
Kendrick outlined the specific conditions required to achieve his Solana valuation forecast. He believes the Trump administration would be more supportive of the Solana ecosystem compared to the Harris government. He said: "Under a Trump presidency, the chances of a Solana ETF being launched would be higher." Kendrick stated: "Indicators suggest the market is very bullish on Solana's future growth prospects, with its throughput expected to grow 100 to 400 times." He emphasized that to achieve his Solana valuation forecast, the network's throughput needs to increase significantly. Kendrick pointed out that the new third-party validator client software Firedancer, aimed at improving Solana's efficiency, needs to be deployed, which is designed to increase the transactions per second to 1 million. Additionally, he added that Solana needs to establish dominance in multiple areas, including finance, consumer services, and decentralized physical infrastructure (DePIN), which typically have high throughput requirements.
Jupiter mobile app launched on iOS, Android version coming soon
Solana ecosystem trading aggregator Jupiter has announced on the X platform that it has launched a mobile application, which uses a zero-platform-fee model and has built-in on-chain functionality, supporting payment methods such as Apple Pay and credit cards. The Jupiter mobile app is currently available on the iOS platform, and the Android version will be released soon.
Coinbase Assets tweeted that Coinbase will add support for io․net (IO) on the Solana network (SPL Token). Do not send this asset through other networks, as funds may be at risk of loss. Subject to liquidity conditions, trading will commence at 9:00 AM Pacific Time on October 9 (12:00 AM Beijing Time on October 10) or later. Once the asset supply is sufficient, the IO-USD trading pair will be gradually enabled.
According to The Block, the Bitcoin Layer2 network Bitlayer, just three months after its $11 million Series A round, has raised an additional $9 million in a Series A extension round. The new round was led by Polychain Capital, with Franklin Templeton as a co-lead investor, and participation from SCB Limited, Selini Capital, G-20.Group, and other investors. Bitlayer co-founder Charlie Hu told The Block that the round began in early August and closed last week. Like the previous Series A round, Bitlayer's Series A extension round used a Simple Agreement for Future Equity (SAFE) structure, with token warrants, and maintained the same $300 million valuation, including both equity and fully diluted token valuation. The latest round brings Bitlayer's total funding to $25 million. Bitlayer is preparing to launch its Bitcoin scaling network V2, and this new funding is to support that effort.
Bitlayer is described as the first Bitcoin Layer 2 based on BitVM, aiming to become the computational layer for Bitcoin, with the goal of introducing hyper-scalability to Bitcoin while inheriting its security, providing users with high throughput and low-cost transactions. According to DeFiLlama data, Bitlayer is currently the top-ranked Bitcoin scaling project by total value locked, exceeding $500 million. Bitlayer is preparing to launch its V2 mainnet in the fourth quarter, which will utilize its OpVM technology, a verification tool that combines validity proofs and fraud proofs.
Crypto investment firm Canary Capital files with US SEC for spot XRP ETF
According to The Block, crypto investment firm Canary Capital has filed a registration statement with the U.S. Securities and Exchange Commission to launch a spot XRP exchange-traded fund (ETF). In the S-1 registration statement filed, Canary Capital stated that the Canary XRP ETF would provide investors "the opportunity to access the XRP market through a traditional brokerage account without the potential entry barriers or risks of directly purchasing and holding XRP." The custodian or administrator for the ETF has not yet been disclosed. Canary Capital founder Steven McClurg said the firm sees "encouraging signs of a more progressive regulatory environment and growing demand."
Previous news, crypto asset management firm Bitwise has applied to launch the first XRP ETF.
Bitcoin early developer Peter Todd denies being Satoshi Nakamoto hours before HBO documentary airs
According to Coindesk, a leaked clip from the upcoming HBO documentary about Satoshi Nakamoto appears to identify Bitcoin early developer Peter Todd as the Bitcoin creator, but Peter Todd has denied this. He said filmmaker Cullen Hoback "has no basis" for the claim. "Yes, that interview did happen, and I believe that particular shot is not a deep fake," but he added that he has not seen the documentary yet.
Previous news indicated that the HBO documentary claimed Peter Todd is the creator of Bitcoin.
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