Headlines
Flora Growth secures $401 million in funding, including $366 million in 0G tokens and $35 million in cash
Flora Growth secured $401 million in funding, including $366 million in 0G tokens valued at $3 each and $35 million in cash, and received a $22.9 million strategic investment from DeFi Development to launch its Zero Gravity AI token treasury strategy and rebrand as ZeroStack.
FTX to initiate third round of creditor repayments totaling $1.6 billion
The bankrupt cryptocurrency exchange FTX will launch its third round of creditor funds distributions starting September 30th, with a planned total payment of approximately $1.6 billion. This round of payments will be distributed to both "convenient" and "non-convenient" creditors. Convenient creditors primarily comprise individual and small creditors, representing 99% of the total creditor base. Based on FTX's previous two distribution plans, retail users were expected to receive approximately 120% of their account balances at the time of bankruptcy in fiat currency. However, some users have expressed dissatisfaction, pointing out that the current cryptocurrency market has rebounded significantly, and the cash payments are far below the value of their original assets. To date, unsecured creditors have received 85% of their payments, and the FTX bankruptcy plan anticipates that these creditors will ultimately receive full repayment. The bankruptcy plan is based on over $15 billion in recovered assets, including cash, proceeds from the sale of Anchorage, Robinhood shares, and cryptocurrencies such as SOL. Eligible creditors can expect to receive their payments within one to three business days starting September 30th through partner service providers such as BitGo, Kraken, and Payoneer. FTX filed for bankruptcy in November 2022 due to a liquidity crisis, and subsequently revealed that a large amount of user funds were misused and management was out of control.
Market
As of press time, according to Coingecko data:
BTC price is $115,989, with a 24-hour change of -1.4% ;
The price of ETH is $4,483.72, with a 24-hour change of -3.0% ;
BNB price is $985.71, with a 24-hour change of -0.0% ;
The price of SOL is $239.89, with a 24-hour change of -3.3% ;
DOGE price is $0.2667, with a 24-hour change of -5.5% ;
XRP price is $3.0, with a 24-hour change of -3.0% ;
TRX price is $0.3401, with a 24-hour change of -2.3% ;
The price of WLFI is $0.2194, with a 24-hour change of -0.53% .
policy
▌US judge dismisses Trump's $15 billion lawsuit against The New York Times
Court documents dated September 19th revealed that a US judge dismissed US President Trump's $15 billion lawsuit against the New York Times, allowing him to amend the complaint. The judge ruled that Trump's lawsuit violated federal rules requiring a concise statement to prove the plaintiff's claim for damages. The judge stated, "A complaint is not a public forum for vitriol or attack, nor is it a protected platform for attacking opponents." On September 15th, local time, Trump posted on his social media account, "Real Social," announcing a $15 billion defamation lawsuit against the New York Times.
A stopgap spending bill aimed at averting a government shutdown failed to pass the U.S. Senate
A temporary spending bill aimed at averting a US government shutdown failed to pass the US Senate.
Platform X accuses a crypto fraud ring of bribing its employees to restore accounts
Social platform X recently publicly accused a group previously involved in crypto scams of attempting to bribe its employees through intermediaries to restore frozen accounts. X claims to have uncovered a "bribery network" linked to an international criminal organization known as "The Com." Legal proceedings are ongoing, and X pledges full cooperation with law enforcement. The group is reportedly operating across multiple platforms. The FBI issued a warning against "The Com" in July, alleging that multiple minors were involved in transnational cybercrime.
Robinhood CEO to meet with Federal Reserve and Treasury Secretary Benson & Schmidt next month
The Federal Reserve will meet next month with Blackstone Group, the CEO of Robinhood and U.S. Treasury Secretary Jeff Bessant to discuss challenges affecting community banks.
Blockchain Applications
XAI : Introducing Grok 4 Fast
XAI is pleased to announce the release of Grok 4 Fast, a multimodal reasoning model with 2M context windows. All users, including free users, will have unlimited access to our latest model.
Cryptocurrency
Bloomberg Analyst: New crypto ETFs such as GDLC had strong first-day trading performance, with transaction volumes exceeding the market average
Data released by Bloomberg analyst Eric Balchunas shows that several newly approved cryptocurrency ETFs saw strong first-day trading figures. Among them: the first five-asset spot crypto basket ETF $GDLC saw $22 million in trading volume; the Dogecoin ETF $DOJE saw $12 million; and the Ripple ETF $XRPR saw $15 million. Analysts noted that while the first-day trading volumes of these three products fell far short of the previous record-breaking Bitcoin ETF, they still significantly exceeded the average debut day for US ETFs, representing a solid start overall. This performance reflects continued market demand for diversified crypto asset ETFs, which issuers are expected to leverage to further expand their product offerings.
Tether issued an additional 1 billion USDT 3 hours ago
According to WhaleAlert, Tether issued an additional 1 billion USDT on the Ethereum network three hours ago. Over the past eight days, a total of 5 billion USDT has been issued.
The whale/institution that has made a profit of 76.05 million through the ETH band bought another 16,569 ETH today
According to on-chain analyst Yu Jin, a whale/institutional investor who has profited $76.05 million from swing trading on ETH bought 18,000 ETH at an average price of $4,487 the day before yesterday, sold 10,000 ETH at $4,600 yesterday, and bought another 16,569 ETH (US$74.29 million) at an average price of $4,484 early this morning. This brings their total profit to $76.05 million, having profited another $1.13 million from swing trading.
Bitmine received 15,427 ETH from Galaxy Digital in the past 8 hours
According to Arkham monitoring, Bitmine received 15,427 ETH (about 68.96 million US dollars) from Galaxy Digital in the past 8 hours.
A whale bought 134,628 SOL worth $32.4 million in the past 6 hours
According to Ember's monitoring, a whale should have purchased 134,628 SOL worth $32.4 million in the past 6 hours; after transferring 32.4 million USDC to Binance, he withdrew 134,628 SOL from Binance on the chain.
Important economic developments
Fed's Daly: The slowdown in the job market is partly related to the outlook for the U.S. economy
Fed Chairwoman Daly stated: "The slowdown in the job market is partly related to the outlook for the U.S. economy. It's difficult to know to what extent the slowdown in employment is due to artificial intelligence. The job market has weakened significantly over the past year. The Fed has lowered interest rates to try to support the labor market."
Spot silver reached $43/oz for the first time since September 2011.
Spot silver rose above $43 an ounce for the first time since September 2011, and is up nearly 49% so far this year.
IMF: Monetary easing should continue once inflation is more clearly moving toward the 3% target
The International Monetary Fund (IMF) said monetary easing should continue once it becomes clearer that inflation is moving towards its 3% target.
Fed Governor Milan: I believe interest rate cuts will continue in the coming months
Fed Governor Milan said he believes interest rate cuts will continue in the coming months.
Golden Encyclopedia
Is SUI the future of the decentralized web?
Sui was launched in May 2023 by Mysten Labs, founded by former Meta engineers who worked on Facebook's Diem project (formerly Libra). Sui aims to provide a decentralized solution capable of processing large volumes of transactions with minimal latency. One of Sui's standout features is its parallel transaction processing. While other networks like Solana and Avalanche use similar technology, Sui stands out by reducing the complexity of coordination between validators. This streamlined approach makes the network more efficient and scalable, maintaining high throughput even under heavy traffic without the bottlenecks that typically plague other blockchains. As part of this, Sui introduces an object-centric model. This not only allows for more granular transaction processing; it also allows digital assets to evolve and change over time, rather than remaining static. This makes the platform well-suited for applications involving non-fungible tokens (NFTs), GamingFi, and decentralized finance (DeFi), where assets frequently require updates or modifications. In contrast, blockchains like Solana and Avalanche are optimized for speed but lack this flexibility when handling dynamic data. From DeFi to gaming and supply chain management, Sui’s architecture enables fast and efficient transactions, making it an attractive platform for developers looking to build on cutting-edge blockchains.
