Mu Changchun: Digital renminbi can provide smart payment on the blockchain under the value model
Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, recently wrote in the "Current Affairs Report" that steadily promoting the research and application of the digital renminbi is an important part of the financial power strategy. The article emphasizes that the digital renminbi, through a two-tier operating structure, has both account and value models, and achieves a unified ledger through data capability building: in the account model, it can be integrated and interconnected with the traditional bank account system; in the value model, it can conduct value exchange in the form of tokens, providing smart payment on the blockchain, and can also be used in offline extreme scenarios such as "no network" and "no electricity", optimizing the traditional trade finance business process and supporting cost reduction and efficiency improvement. The application scenarios of the digital renminbi will expand from retail to wholesale, from payment to include deposit, loan, remittance, investment and other general financial businesses. The digital renminbi adopts a modular design, which can be flexibly connected to the central bank infrastructure abroad, realizing "one-through connection" with the connected jurisdictions. Currently, the digital renminbi pilot covers 26 areas in 17 provinces (cities), and the next step will be further deepening. As of the end of July 2024, the digital renminbi App has cumulatively opened 180 million personal wallets, and the cumulative transaction amount in the pilot areas has reached 7.3 trillion yuan.
According to CoinDesk, former FTX executive Ryan Salame, who was convicted of violating U.S. election law by donating millions of dollars in the previous congressional election, tried to postpone his sentence at the last minute to treat a dog bite on his face, but was rejected. Salame had criticized the prosecution against him on social media, and he was originally supposed to start serving a sentence of more than seven years in prison on August 29, but he told the court that he had been bitten by a large German shepherd, which had delayed his start date to October 11. Earlier this week, he requested another postponement. However, during his interview with Tucker Carlson, there were no obvious signs that he was impeded by the wound - when the court rejected Salame's efforts, U.S. District Judge for the Southern District of New York Lewis Kaplan noted this fact.
Salame claimed he needed "urgent and necessary medical and surgical" care, but could not be immediately incarcerated, and the prosecution responded that he appeared to be in good condition. The prosecutor said that when he appeared in court last month, he "did not show any signs of drooling or slurred speech" when answering questions, and then gave the Carlson interview, during which Salame "appeared to have recovered physically and was completely unharmed." The judge noted that Salame had already "benefited from an extremely generous postponement of incarceration" and expressed doubts about the "credibility" of Salame's claims.
The U.S. SEC will extend the review period for Cboe's Ethereum ETF options to December 3
The U.S. Securities and Exchange Commission (SEC) has announced that it will extend the review period for Cboe's proposed rule change to allow the listing and trading of options on exchange-traded products (ETFs) based on Ethereum, involving multiple Ethereum funds such as Fidelity, Grayscale and iShares. According to the documents, the SEC has extended the final decision date to December 3, 2024, to allow more time to consider the proposal.
Crypto exchange Fairdesk will close all services on November 30
According to Cointelegraph, the Singapore-based cryptocurrency exchange Fairdesk has announced that it will officially close all services on November 30, 2024, due to policy and regulatory issues. Fairdesk has provided high-quality trading services to users in the U.S. and Canada since its establishment in 2021, but with changes in the regulatory environment, the platform has decided to permanently shut down. Users need to clear (futures, spot positions) their accounts by October 17, after which the platform will only maintain withdrawal functionality until November 30.
Bloomberg: Arkham Intelligence plans to launch a crypto derivatives exchange next month
According to Bloomberg, sources familiar with the matter revealed that Arkham Intelligence Inc., a blockchain data company backed by investors including OpenAI founder Sam Altman, plans to launch a crypto derivatives exchange next month; the company is moving its business from London and New York to Punta Cana in the Dominican Republic, where the company and its new headquarters will be located.
MicroStrategy's "net asset value premium" reaches the highest level since 2021
According to CoinDesk, the stock price of the Bitcoin development company MicroStrategy (MSTR) continues to rise relative to the price of Bitcoin, expanding its net asset value (NAV) premium to the highest level in more than three years. The company's so-called NAV premium is calculated by dividing its market capitalization by the value of its Bitcoin holdings, and according to MSTR-tracker data, the premium has risen to around 2.5, the highest level since February 2021. At current pricing, MicroStrategy's market capitalization is around $371.4 billion, with its 252,220 BTC worth $151 billion. Additionally, the ratio of MicroStrategy's stock price to the average Bitcoin price is 0.0030, the highest level since the company adopted Bitcoin in August 2020.
According to official information, Grayscale has released a list of assets it is considering for inclusion in future Grayscale investment products, including Kaspa (KAS), Aptos (APT), Arbitrum (ARB), Celestia (TIA), Celo (CELO), Core (CORE), Cosmos (ATOM), Internet Computer (ICP), Mantle (MNT), Metis (METIS), Neon (NEON), Optimism (OP), Polygon (POL ex. MATIC), Sei (SEI), Starknet (STRK), Toncoin (TON), TRON (TRX), Aerodrome (AERO), Ethena (ENA), Injective Protocol (INJ), Jupiter (JUP), Mantra (OM), Ondo Finance (ONDO), Pendle (PENDLE), THORChain (RUNE), Dogecoin (DOGE), Immutable (IMX), Akash (AKT), Arweave (AR), Artificial Superintelligence Alliance (FET), Helium (HNT), Pyth (PYTH), UMA Project (UMA), VeChain (VET), and Worldcoin (WLD).
Ripple co-founder Chris Larsen donated $1 million worth of XRP tokens to a PAC supporting Harris
According to Fox Business reporter Eleanor Terrett's post on the X platform, Ripple co-founder Chris Larsen has made a cryptocurrency donation to the super PAC (Super PAC) Future Forward USA, which supports Harris. This donation is $1 million worth of XRP, which is the first recorded cryptocurrency donation. Documents show that the PAC accepts cryptocurrency donations through Coinbase for advertising in support of Harris and against Trump's campaign.
WLFi: Public token sale will be opened to whitelisted users on October 15
The Trump family's cryptocurrency project World Liberty Financial (WLFI) has announced that it will launch a public token sale on October 15, with participants needing to be whitelisted. The official will host an event on Twitter Spaces at 8 a.m. Eastern Time (8 p.m. Beijing time) on October 14 to provide more details.
Michael Saylor: MicroStrategy's ultimate goal is to become the leading Bitcoin bank
In a recent interview with research and brokerage firm Bernstein analysts, MicroStrategy founder Michael Saylor said the company's ultimate goal is to become the leading Bitcoin bank. Bernstein's digital asset head Gautam Chhugani told clients in a Friday report that Saylor believes MicroStrategy's core business is to create capital market tools around Bitcoin, including stocks, convertible bonds, fixed income, and preferred shares.
神鱼 calls for dApp and plugin wallets to add Permit signature switch
Regarding permit/permit2 type of offline authorization signatures, Cobo co-founder and CEO 神鱼 posted on the X platform saying: "Calling for dApp and plugin wallets to add Permit signature switch."
Paradigm announces $20 million investment in Layer2 blockchain development company Ithaca
According to The Block, the crypto venture capital firm Paradigm announced on Friday that it has invested $20 million in a subsidiary company that is building a new Layer 2 blockchain called "Odyssey". Paradigm says this will accelerate the development of the blockchain. Paradigm says that Georgios Konstantopoulos, Paradigm's Chief Technology Officer and General Partner, will serve as the CEO of Ithaca. The Layer 2 built using Reth and OP Stack has already been launched on the testnet.
The two companies say that while Konstantopoulos will remain Paradigm's Chief Technology Officer, the new company should be viewed as a portfolio company of Paradigm. They also say that Paradigm co-founder Matt Huang will serve as the chairman of Ithaca.
A whale has recently transferred 150,000 BTC, some of which have been sold through Wintermute
PANews contributor and market analyst Maartunn posted on the X platform that in the past few days, a whale has transferred 150,000 BTC in batches of 2,000 BTC. While this appears to be a wallet rebalancing, some of the funds have been sold through the market maker Wintermute. Maartunn added that he will provide updates when more information is available, such as the identity of the whale.
