LianGuai Daily | MetaMask has been relisted on the Apple App Store; JPEX involved in a case in Taiwan with an amount reaching tens of millions of Taiwanese dollars, has summoned singer Chen Lingjiu, the endorser.

Exciting news for MetaMask users App Store relists the popular app! In other news, JPEX implicated in a multi-million dollar case in Taiwan and singer Chen Lingjiu called in for questioning as the endorser.

Today’s Headlines:

1. JPEX involved in cases with millions of Taiwan dollars, endorsing singer Chen Lingjiu has been summoned for questioning.

2. US judge asks Binance and SEC to resubmit joint status report by October 30.

3. MetaMask has been relisted on the Apple App Store.

• Decoding the competition between Ethereum Rollups, Solana, and Cosmos application chains
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4. Compound community votes in favor of “Compound V2 Deprecation (Phase 2)” proposal.

5. Sun Yuchen removes TRX liquidity and transfers 400 million TRX to Huobi.

6. DWF Labs transfers 15 million ORBS to Bithumb and still holds 41.1 million ORBS.

7. Binance to launch U Bond perpetual contract at 10:30 PM tonight.

8. FTX estate pledges SOL worth $122 million through Figment.

Regulatory News

US judge asks Binance and SEC to resubmit joint status report by October 30

According to documents filed in court on October 13, US District Judge Zia M. Faruqui has given Binance, Binance.US, Binance CEO Changpeng Zhao, and the US SEC more time. He has requested cooperation from all parties regarding the disclosure of required documents and testimonies of witnesses, as per the previous consent order. Binance, Binance.US, Zhao, and the SEC have already submitted a joint status report on Wednesday, but Judge Faruqui was not satisfied with their performance. The plaintiffs and the defendants failed to reach any conclusion regarding the request for disclosure of evidence. Judge Faruqui has requested all parties to submit a joint status report by October 30. In the meantime, the SEC, Binance, and CZ will meet to discuss these requests. Meanwhile, LianGuairadigm Operations has submitted a friend of the court brief, supporting Binance’s motion to dismiss the SEC’s lawsuit, citing the lack of regulatory authority over cryptocurrency.

Taiwan Financial Supervisory Commission: JPEX involved in cases with millions of Taiwan dollars, endorsing singer Chen Lingjiu has been summoned for questioning

The Financial Supervisory Commission of Taiwan has confirmed receiving reports indicating that JPEX has illegally solicited and provided services in Taiwan and has handed over the information to the investigation team. As there are many victims in Taiwan, the amount involved currently reaches millions of Taiwan dollars. After an investigation by the Investigation Bureau’s Taipei City Investigation Division, singer Chen Lingjiu, who was involved in endorsing JPEX, was secretly summoned for questioning, with the case being fraud.

JPEX does not have a business representative in Taiwan, so the Investigation Bureau interviewed Chen Lingjiu (real name: Chen Zhihao) as a witness. Chen Lingjiu stated that he was only responsible for endorsing the company, as he was also a victim and whether the Investigation Bureau will summon Liu Boliang, the talent agent from Rolling Stone Records, is still under evaluation.

During the investigation, it was discovered that Chen Lingjiu’s endorsement fee was in the eight-figure range, far exceeding the general market price. After the JPEX case broke out, the company located near SOGO in Taipei’s East District became vacant, with Chen Lingjiu posters still on the outside of the building. Victims have no way to seek compensation and can only file with the Investigation Bureau. Whether Chen Lingjiu was completely unaware remains to be clarified, and whether he will be listed as a defendant from a witness will depend on the evidence of the investigation.

In the investigation, it is estimated that JPEX has allocated a substantial marketing budget in Taiwan, including spokespersons and media, with marketing costs amounting to tens of millions of yuan. The Bureau will further clarify whether these funds include victims’ funds or illegal money flows. The “Financial Supervisory Commission” pointed out that according to the Company Act, if an overseas virtual trading platform is a foreign company and has not registered a branch, it is prohibited from operating in Taiwan and may face criminal and civil liability for compensation. Whether JPEX has violated money laundering laws will depend on whether it engages in the exchange of Taiwanese dollars, foreign currencies, and other currencies.

The UAE government has released a white paper focusing on metaverse regulation

The government of the United Arab Emirates recently released a white paper titled “Responsible Metaverse Governance”. According to a statement by Omar Sultan Al Olama, the Minister of State for Artificial Intelligence and Digital Economy in the country, the document primarily emphasizes the importance of having globally recognized operational standards. This white paper not only highlights the potential of the virtual universe but also emphasizes the areas where the “international community must strengthen its readiness”. In this 35-page white paper, the authors emphasize the importance of self-regulation and why international cooperation is needed.

NFT&AI

Google to introduce artificial intelligence features in search

Google announced that it will introduce new artificial intelligence features in Google Search, including using its latest generative AI capabilities to generate images and writing inspirations. Google’s AI-powered Search Experience (SGE) can generate images that perfectly match the description. These features extend to Google Images, providing AI-generated visual effects based on search queries.

Project Updates

MetaMask back on Apple App Store

MetaMask tweeted that it is back on the Apple App Store. Previously, MetaMask clarified in a tweet that it was unable to download from the App Store due to any malicious behavior, and MetaMask can still be used on Google Play.

BarnBridge community votes to authorize its founders to comply with SEC orders

The Snapshot page shows that the DeFi protocol BarnBridge community has voted to authorize “BarnBridge co-founders Tyler Ward and Troy Murray to comply with the US SEC orders against BarnBridge”. The approval rate is 100%. According to previous news, BarnBridge launched a community vote to decide whether BarnBridge co-founders Tyler Ward and Troy Murray should “have the authority to take all necessary actions to comply with the SEC orders against BarnBridge,” including “granting Tyler Ward and Troy Murray and their agents the authority to take all necessary actions to comply with the SEC orders against BarnBridge.”

Compound Community Votes “Compound V2 Deprecation (Phase 2)” Proposal

The Compound community has voted in favor of the “Compound V2 Deprecation (Phase 2)” proposal, which is expected to be implemented within two days. The proposal, put forward by Gauntlet, suggests the following adjustments to multiple protocol risk parameters related to “Compound V2 Deprecation (Phase 2)”:

1. Set cAAVE collateral factor to 68.0%;

2. Set cCOMP collateral factor to 55.0%;

3. Set cLINK collateral factor to 74.0%;

4. Set cMKR collateral factor to 68.0%;

5. Set cSUSHI collateral factor to 62.0%;

6. Set cUSDC reserve factor to 45.0%;

7. Set cYFI collateral factor to 70.0%;

8. Set cZRX collateral factor to 60.0%.

In addition, Gauntlet suggests further increasing the V2 USDC Reserve Factor to incentivize V2 USDC suppliers to migrate to V3.

Binance to Launch Universal BOND Perpetual Contract at 10:30 Tonight

According to an official announcement, Binance will launch the Universal BOND perpetual contract at 22:30 on October 15th (Beijing time), with a maximum leverage of 50 times. When the BONDUSDT perpetual contract goes live, the funding rate limits will be set at +2.00% / -2.00%, with funding fees settled every four hours.

Stride Suspends ATOM Liquidity Staking, All stATOM Functions to Resume in 3 Days

Stride, a Cosmos ecosystem liquidity staking project, announced on X platform that the volatility of ATOM staking rewards has been slightly higher than expected in the past few days. Stride prioritizes security over activity in its on-chain security checks, thus temporarily suspending ATOM liquidity staking. User funds will not be at risk, and all stATOM functions will be restored within 3 days. Liquidity staking for other tokens remains operational.

Earlier News, the Cosmos ecosystem liquidity staking project Stride plans to temporarily suspend its native token STRD conversion into ATOM tokens on the Cosmos Hub.

Justin Sun Removes TRX Liquidity and Transfers 400 Million TRX to Huobi

On-chain data shows that Justin Sun has removed liquidity from SunSwap, including 728.64 million TRX, 12.37 million USDJ, 2.8 million TUSD, 23 million USDD, 1.68 million USDC, and 21.06 million USDT. He then transferred 400 million TRX (approximately $34.12 million) to the beginning address of TGcN4, which subsequently transferred the 400 million TRX to Huobi.

Earlier, according to Whale Alert monitoring, 1,077,812,393 TRX (equivalent to $91,968,821), 21,069,446 USDT, and 23,007,066 USDD (equivalent to $22,965,884) were transferred to Justin Sun’s wallet.

FTX estate pledges $122 million worth of SOL staked via Figment

According to on-chain data, FTX estate (bankruptcy trust) has pledged over 5.5 million Solana (SOL) tokens, worth $122 million, from a major wallet on the Solana blockchain. As noted by on-chain analyst “ashpool,” the wallet address managed by FTX estate delegates the tokens to staking service provider Figment. FTX estate is managed by the bankruptcy trustee and includes the assets and liabilities at the time of the exchange’s bankruptcy filing. The trustee is responsible for asset recovery and distribution to creditors.

According to court documents on September 11, FTX estate management revealed that approximately $7 billion in assets has been recovered. These assets include over $1 billion in Solana (SOL) tokens and $560 million in Bitcoin (BTC). Additionally, it was reported that there is $200 million in real estate in the Bahamas and $1.9 billion in illiquid assets.

Key Data

DWF Labs transfers 15 million ORBS to Bithumb and still holds 41.1 million

According to Spot On Chain monitoring, DWF Labs transferred 15 million ORBS to Bithumb at a price of $0.04517 per token (approximately $678,000). Over the past 7 days, DWF Labs has transferred a total of approximately 133.666 million ORBS (around $4.68 million) to Bithumb, Huobi, and Coinone, with an average price of $0.03504 per token. The current holdings of ORBS are 41.1 million (approximately $1.86 million).

In addition, an address starting with 0x5e4 deposited 31.17 million ORBS (approximately $1.9 million) into OKX 21 hours ago at a price of $0.03594 per token. Over the past 7 days, the address has transferred a total of approximately 130.26 million ORBS (around $5.06 million) to OKX, with an average price of $0.04 per token. The current holdings are 48.055 million ORBS (approximately $1.79 million).

Data: Circle USDC circulating supply decreased by $200 million in the past week

According to official data, Circle issued a total of $900 million in USDC in the past 7 days and redeemed $1.1 billion in USDC, resulting in a decrease of $200 million in circulating supply. As of October 12, the total circulating supply of USDC is $25 billion, with a reserve of $25.1 billion, including $1.3 billion in cash, and the Circle Reserve Fund holds $23.8 billion.

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