LianGuai Daily | Cryptocurrency market capitalization surpasses $1.3 trillion; BlackRock Bitcoin spot ETF listed on U.S. Securities Depository and Clearing Company.
LianGuai Daily | Cryptocurrency Market Cap Hits $1.3 Trillion; U.S. Securities Depository and Clearing Co. Lists BlackRock Bitcoin Spot ETFToday’s News Highlights:
US court officially ruling in favor of Grayscale against SEC
US SEC accepts Grayscale Ethereum Spot ETF filing
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Upbit, South Korea’s cryptocurrency exchange, to launch MINA Korean market
Grayscale partners with FTSE Russell to launch cryptocurrency index products
Bitcoin surpasses 35000 US dollars,Ethereum breaks 1800 US dollars,total market cap of cryptocurrencies exceeds 1.3 trillion US dollars
CME Bitcoin futures open interest exceeds 100,000 BTC for the first time
Regulatory News
US court officially ruling in favor of Grayscale against SEC
According to CoinDesk, the US Court of Appeals for the D.C. Circuit has officially ruled on the lawsuit between Grayscale Grayscale and the SEC. SEC is required to reconsider the application to convert Grayscale’s GBTC into a Bitcoin Spot ETF. SEC now has the option to approve Grayscale’s application or reject it for other reasons. Jennifer Rosenthal, a spokesperson for Grayscale, stated after the decision on Monday, “The Grayscale team looks forward to continuing to work constructively with the SEC to convert GBTC into an ETF. GBTC is prepared to operate and plans to act on behalf of investors as soon as possible.”
US SEC accepts Grayscale Ethereum Spot ETF filing
A screenshot of a US SEC regulatory document shows that the SEC has accepted Grayscale Grayscale’s application for changes to the Ethereum Trust listing and trading rules. Earlier, on October 2nd, Grayscale Investments and NYSE Arca jointly applied to convert Grayscale’s Ethereum Trust Fund (ETHE) into an Ethereum Spot ETF.
Metaverse & NFT
According to China Jiangsu Network, the “Jiangsu Province Metaverse Industry Development Action Plan” was released at the 10th Jiangsu Internet Conference held yesterday. The plan proposes that by 2026, the metaverse industry in Jiangsu will continue to grow and expand, with a target scale of over 100 billion yuan and an average annual growth rate of over 20%. It aims to nurture 5 ecological leading enterprises, create 20 specialized and innovative enterprises in segmented fields, and 100 integration application enterprises. It is reported that there are currently more than 18 metaverse industry parks, bases, clusters, and pilot zones under construction or completed in China, with over 30 provinces and cities issuing supportive policies and more than 20 special policies for the metaverse.
Project Updates
Bloomberg Analyst: BlackRock Bitcoin Spot ETF Listed on DTCC
Bloomberg Senior ETF Analyst Eric Balchunas tweeted that BlackRock’s Bitcoin Spot ETF has been listed on the Depository Trust & Clearing Corporation (DTCC) with the stock code IBTC. This marks a milestone in the listing of a Bitcoin Spot ETF. Eric Balchunas stated that this is the first Bitcoin Spot ETF to be listed on DTCC. According to previous reports, BlackRock may prepare seed capital for Bitcoin Spot ETF starting this month.
Polkadot Parent Company LianGuarity Technologies to Lay Off 30% of Employees
According to Bloomberg, Polkadot parent company LianGuarity Technologies is set to lay off 30% of its employees, approximately 100 people. According to an email statement released by LianGuarity CEO Björn Wagner on Monday, the layoffs will affect teams including the marketing department as LianGuarity shifts its focus to supporting Polkadot technology. Earlier this month, there were reports from insiders that LianGuarity Technologies had laid off over 300 people, but this was denied by LianGuarity Technologies.
Block, a subsidiary of Jack Dorsey’s company TBD, announced on its official website that it has partnered with Circle Internet Financial (Circle) to launch a new initiative focused on accelerating the adoption of decentralized identity, credentials, digital wallet domains, and open payment standards. The initiative will be launched in collaboration with the Linux Foundation. Together, they plan to establish a non-profit foundation that will leverage their scale, technology, and operational capabilities to create, promote, and widely adopt decentralized identity and credential standards, as well as open payment applications supported by payment stablecoins like USDC. They will also work towards simplifying and creating universal domain conventions for easier use of wallet addresses today. Compliance and foundational trust frameworks will be built using open standards from organizations like the World Wide Web Consortium (W3C), the Internet Engineering Task Force (IETF), the Decentralized Identity Foundation (DIF), and the OpenID Foundation (OIDF). Foundation members will collaborate to contribute to and promote open standards, including technical specifications, open-source software, and reference implementations, with a focus on identity and credential standards for establishing trust and open liquidity protocols.
According to DL News, the Snapshot page shows that Uniswap DAO members are currently conducting a temperature check vote on the proposal to issue Visa cards with the Uniswap logo, but the current opposition rate is 51.5%, and the voting will end on October 28th. However, lack of support for this proposal does not mean that the plan has failed. On the contrary, some representatives have stated that the DAO does not have the authority to dictate the use of the Uniswap brand. The proposal was initiated by Swiss crypto bank Fiat24, which proposed the launch of Visa debit cards with the Uniswap logo. Fiat24 enables users to execute crypto debit card transactions through Arbitrum. Fiat24 hopes to offer Uniswap Visa cards in all 27 countries/regions of the European Union and make them compatible with Apple Pay and Google Pay. Ignas, a pseudonymous DeFi researcher, stated that according to the Uniswap Labs terms of service, all brands belong to Uniswap Labs, so the DAO should not vote on this matter. In fact, the Uniswap Labs terms of service were updated in March, stating that all intellectual property belongs to the developers of the protocol, Uniswap Labs, and gaining support from the DAO could facilitate the approval of the debit card. Fiat24 responded on the forum that they have contacted Uniswap Labs and will obtain all necessary approvals from the DAO and the logo owner before implementing the proposal.
SlowMist’s Chief Information Security Officer 23pds stated on X platform that Okta issued an alert last week that its customer support system vulnerability exposed customer data to unidentified attackers. Given that many cryptocurrency platforms use this vendor, SlowMist has been paying attention to this matter since last week. Although Okta did not disclose the details of the attack, based on experience, this should be a case of an attack where insiders of Okta were compromised through social engineering. Once the attackers gain access, they can view certain files uploaded by Okta customers. Because the customer support system of Okta is separate from its production Okta services, other services are not currently affected. However, the customer support system contains sensitive data, including cookies and session tokens, which attackers can use to impersonate valid users. Although Okta has not disclosed the scale of the breach, well-known companies such as BeyondTrust, Cloudflare, and 1Password have confirmed that they are among the affected customers of the support system attack. In response to the incident, 1Password has stated that it terminated the activity immediately upon detecting suspicious activity, and the investigation found that user data or other sensitive systems were not compromised, and no 1Password user data was accessed. This attack incident is the latest in a series of security incidents involving Okta in recent years. Given that many high-value targets use its single sign-on (SSO) service, the company has become a high-value target for hackers. Currently, many well-known companies in fields such as cryptocurrencies use this service, so vigilance should be maintained at all times.
South Korean cryptocurrency exchange Upbit to launch MINA Korean won market
South Korean cryptocurrency exchange Upbit will launch the MINA Korean won market, with MINA only supporting deposits on the Mina network and not allowing deposits through other networks such as BSC.
In late-breaking news today, MINA price on Upbit has risen to $1.45, more than double the mainstream CEX premium.
Binance UK Chief Executive Officer Jonathan Farnell has resigned
According to The Block, Jonathan Farnell, the Chief Executive Officer of Binance UK, left the company at the end of September. This news comes at a time when the Financial Conduct Authority (FCA) in the UK has severely hindered offshore crypto companies’ efforts to operate in the country. UK company filings and Farnell’s professional history on LinkedIn indicate that he resigned from his position at Binance Markets Limited at the end of September, having stepped down from his senior compliance role at Binance Europe in June this year. Farnell played a key role in Binance’s efforts to be regulated in the UK. He joined Binance from eToro in 2021 to lead compliance efforts. Farnell initially held a compliance-focused position, but was later appointed as Head of Binance’s UK business.
Grayscale partners with FTSE Russell to launch cryptocurrency index products
According to The Block, cryptocurrency asset management company Grayscale Investments is collaborating with FTSE Russell, a subsidiary of the London Stock Exchange and a major index provider, to enter the cryptocurrency index business. The product, called “Cryptocurrency Industry Index Series,” will include several indexes tracking the prices of various digital assets based on use cases. These groups will include cryptocurrencies as a store of value and medium of exchange (such as Bitcoin and Litecoin), smart contract projects (such as Ethereum, Solana, and Polygon), tokens representing financial services (Uniswap, Compound, and Curve), tokens representing assets in art, gaming, and media (NFT projects), and tokens targeting real-world applications (Chainlink, Filecoin, etc.).
Aave frontend adds token swapping feature provided by LianGuairaswap, no UI fees charged
Aave has recently added the token swapping (switch token) feature for aggregated assets through its frontend interface. Aave founder Stani Kulechov stated that this feature is implemented through the integration of the LianGuairaswap trading aggregator protocol, with no frontend fees charged, and positive slippage revenue flowing to the Aave DAO.
dYdX has open-sourced its V4 code, marking the launch of the exchange’s v4 upgrade and the highly anticipated transition from Ethereum’s layer 2 network to an independent blockchain in the Cosmos ecosystem.
Ledger officially launches Ledger Recover service
Hardware wallet Ledger has officially launched the Ledger Recover service provided by Coincover. The subscription for Ledger Recover is not automatic. To subscribe, users must pay a subscription fee and authorize the creation of backups on Ledger Nano X.
Funding News
Hybrid crypto exchange Cube.Exchange completes $9 million seed funding
Cube.Exchange, a hybrid cryptocurrency exchange that combines traditional finance and blockchain technology, has raised $9 million in seed funding. Investors include Asymmetry Technologies, Susquehanna Private Equity Investments, LLLP, Everstake, Foundation Capital, Big Brain Holdings, Third Kind Venture Capital, Arche Fund, WW Ventures, and Cube.Exchange management team members. The new funds will be used for hiring developers, marketing, compliance and management personnel, obtaining licenses, and opening more offices. Cube.Exchange will be launched as a spot exchange and expand to other products next year.
Important Data
Bitcoin briefly surpasses $35,000,Ethereum surpasses $1,800
Market data shows that the price of Bitcoin briefly surpassed $35,000, reaching a high of $35,280. It is currently trading at $34,740.49, with a 24-hour increase of 14.88%.
In addition, the price of Ethereum surpassed $1,800 and is currently trading at $1,810.74, with a 24-hour increase of 8.05%.
Cryptocurrency market cap surpasses $1.3 trillion, Bitcoin dominance rises to 51.6%
CoinGecko data shows that the cryptocurrency market cap has surpassed $1.3 trillion, currently standing at $1,320,100,095,131, with a 24-hour increase of 9.4%. Furthermore, Bitcoin dominance has risen to 51.6%, while Ethereum dominance is currently at 16.5%.
6.9 trillion PEPE tokens transferred to burn address, worth approximately $6.75 million
On-chain data shows that 6.9 trillion PEPE tokens were transferred to a burn address and are currently worth approximately $6.75 million. Additionally, market data shows that PEPE has increased by 22.3% in the past hour and has a 24-hour increase of 30.9%.
Coinglass data shows that over $195 million has been liquidated across the entire network in the past 4 hours. Of this amount, $32.3778 million is from long positions and $163 million is from short positions. In terms of specific cryptocurrencies, Bitcoin liquidation amounted to $126 million, Ethereum liquidation amounted to $22.2443 million, and SOL liquidation amounted to $5.042 million.
CME Bitcoin Futures Position Volume Breaks 100,000 BTC
K33 Research Senior Analyst Vetle Lunde tweeted that the CME Bitcoin futures position volume has exceeded 100,000 BTC for the first time, with a net increase of 4,380 BTC yesterday. CME’s market share of Bitcoin derivative contracts has reached a historical high of 25%, rapidly approaching Binance (Perps + Futures).
TON Believers Fund stops accepting new deposits, locks 1.3 billion TON, approximately $2.9 billion
TON Believers Fund has stopped accepting new deposits today. The Locker contract has locked 1.317 billion TON (one-fourth of the total supply), worth approximately $2.897 billion. All participants will lock their TON for two years, and then TON deposits will be distributed monthly and rewarded over the next three years. TON Believers Fund significantly improves the token economy of TON, bringing clarity, predictability, and transparency to the ecosystem.
In July ,TON community developers launched the Locker smart contract, which allows any TON holder to lock their tokens for 5 years: 2 years of locking and 3 years of vesting. The logic of this contract enables long-term holders to make deposits in TON, while large holders can make donations that will be distributed to depositors in the future. With this contract, the community launched the TON Believers Fund or The Locker.
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