LianGuai Morning News | The supply of Bitcoin on exchanges has decreased from 5.99% since September 1st to 5.73%.

LianGuai Morning News | Bitcoin supply on exchanges decreased from 5.99% to 5.73% since September 1st.

Headlines

▌Foreign Media: Singapore’s Money Laundering Investigation Expands, Seizing Assets Worth $2 Billion

LianGuai reports that according to Bloomberg, a senior official in Singapore said on Tuesday that Singapore authorities have seized assets worth over 2.8 billion Singapore dollars ($2 billion) in a money laundering investigation, including 152 properties, 62 cars, thousands of bottles of alcohol, cryptocurrencies, gold bars, and jewelry. The Singapore government may tighten immigration regulations to curb illegal fund inflows. The investigation is still ongoing and Singapore is considering various measures. Earlier reports stated that in mid-August, Singapore police seized and froze 1 billion Singapore dollars ($736 million) in cash and assets in a large-scale anti-money laundering operation; on September 20, the total value of assets involved in the case increased to 2.4 billion Singapore dollars.

▌Bitcoin Supply on Exchanges Drops from 5.99% to 5.73% since September 1

LianGuai reports that data from Santiment shows that just before Bitcoin broke through $28,000 for the first time in six weeks, there were four transactions worth between $187 million and $346 million. Since September 1, the supply of Bitcoin on exchanges has dropped from 5.99% to 5.73%, which is a positive sign.

• LianGuai Daily | Bitcoin temporarily stabilizes above $28,000; FTX founder SBF’s trial will begin tomorrow, with jury selection on the first day.
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• Wu’s Selection Zhu Su of Three Arrows suddenly arrested, Binance exits Russia, Mixin hacked for 200 million, MicroStrategy continues to buy BTC, and Top 10 news.

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Market

As of the time of writing, according to coinmarketcap data:

Bitcoin (BTC) recent trading price is $27,461.9, with a daily change of -0.65%;

Ethereum (ETH) recent trading price is $1,657.34, with a daily change of -0.29%;

Binance Coin (BNB) recent trading price is $213.30, with a daily change of -0.61%;

XRP recent trading price is $0.53724, with a daily change of +1.59%;

Dogecoin (DOGE) recent trading price is $0.061364, with a daily change of -0.88%;

Cardano (ADA) recent trading price is $0.2609, with a daily change of +0.18%;

Solana (SOL) recent trading price is $23.538, with a daily change of +0.63%.

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Policies

▌Sygnum Singapore Receives MPIL License from Singapore’s MAS

LianGuai reports that Sygnum Singapore announced that it has received the Major Payment Institution License (MPIL) issued by the Monetary Authority of Singapore (MAS). Sygnum Singapore can now provide cryptocurrency brokerage services to accredited investors and institutions in Singapore. Sygnum Singapore is a subsidiary of Swiss cryptocurrency bank Sygnum.

▌Thailand to Tax Digital Nomads, Including Overseas Cryptocurrency Income

On October 3, the Thai Revenue Department issued an income tax payment order under Article 41, Paragraph 2 of the Tax Law. The new tax policy stipulates that foreign nationals who reside in the country for more than 180 days a year will be subject to this tax provision. This policy will be implemented from January 1, 2024. The new tax regulations state that when a foreign national’s overseas income is transferred to Thailand, they will need to pay personal income tax in Thailand. However, savings transferred will not be included. This income includes any source of income, and income from overseas cryptocurrency transactions will also be included. Earlier in September, the Thai government was working on new tax methods and plans to impose taxes on foreign nationals.

▌French Central Bank Governor: EU Plans to Launch Wholesale CBDC

LianGuai reports that the Governor of the French Central Bank stated on Tuesday that central banks in the eurozone will develop central bank digital currency (CBDC) wholesale plans in the coming weeks to innovate the settlement of securities and foreign exchange transactions by financial institutions. The wholesale plan seems to be progressing faster than the more controversial plan for ordinary citizens to use digital euro, as legislators have raised many concerns about the privacy of digital euro and its impact on commercial banks.

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Blockchain Applications

▌Russia to Use Digital Ruble in Latin America by 2025

LianGuai reports that Anatoly Aksakov, Chairman of the State Duma Financial Market Committee of Russia, stated that domestic companies will use digital ruble in Latin America no later than 2025, i.e., the country’s CBDC.

▌Russian Central Bank Plans to Expand Digital Ruble Pilot Project Next Year

LianGuai reports that the Russian Central Bank has provided the latest information on the digital ruble and pilot testing of the functions of the Russian Central Bank’s digital currency. Elvira Nabiullina, Governor of the Russian Central Bank, stated that the project is still ongoing, and the institution is receiving feedback and testing various functions of this new currency. We launched the digital ruble pilot project in August through actual operations and real customers. Everything is going according to plan, and we are testing operations, starting with opening wallets, transferring between citizens, and making payments through QR codes. We are ready to expand the project next year, adding new participants and new customers, including transfers between legal entities. Thirteen banks are participating in the current pilot, including activities in Moscow and ten other cities in Russia, as well as retail payments in the Moscow Metro, which has always been a testing ground for innovation.

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Cryptocurrency

▌2467 People Have Reported Losses Involving Approximately 1.5 Billion Yuan in the JPEX Case

LianGuai reports that in the JPEX virtual asset trading platform case, the police have so far received reports from 2467 victims involving approximately 1.522 billion yuan. In addition, the police stated that the 8 people arrested by the police from the 20th to the 28th of last month, as well as the 2 men arrested at the Central District Hong Kong-Macau Ferry Terminal on the 30th of last month, have been released on bail pending further investigation and must report to the police in late October.

▌Celsius Plans to Begin Repaying Customers Before the End of the Year

LianGuai reports that the bankrupt cryptocurrency lending platform Celsius told a judge at a hearing seeking approval of its restructuring plan on October 2 that it plans to begin repaying customers before the end of the year. At the confirmation hearing held in New York, Celsius’ legal advisor Christopher Koenig stated in his opening statement that the new company named “NewCo” will receive $450 million in seed funding to complete the litigation process. According to a document submitted by Celsius at the confirmation hearing, the debtor proposed a plan when confirming the plan, which received support from over 95% of voting account holders (both in number and amount).

▌StarkWare delays the first token unlocking to April 2024

LianGuai reports that Ethereum Layer2 developer StarkWare has postponed the initial unlocking of its native StarkNet (STRK) token to April 2024. According to Etherscan, the new unlocking date has been delayed from the original November 29, 2023 to April 15, 2024. A StarkWare spokesperson stated that they are focusing on technical development. They are updating their roadmap as needed, including updates to the locked tokens. It is currently unclear how many tokens are affected by the delay. The total supply of STRK tokens is 10 billion. The first unlocked tokens belong to core contributors, early supporters, and StarkWare employees, not the public. The delay of the first unlocking does not necessarily mean that the next unlocking will also be delayed, as the two token unlockings are not always related.

▌Jump Trading loses over $200 million in FTX collapse

LianGuai reports that according to Michael Lewis’ book “Going Infinite,” crypto market maker Jump Trading lost $206 million in the collapse of FTX, making it one of the largest losses among entities not affiliated with FTX or Alameda. The book cites private documents unearthed by former FTX COO Constance Wang as a source of information. It notes that an entity named “Tai Mo Shan Limited,” which is an affiliate of Jump Trading, lost over $75 million. It is reported that Virtu Financial, based in Singapore, lost over $10 million. A significant portion of these disguised accounts can be traced back to FTX employees. Previously, SBF had a conversation with Michael Lewis during his house arrest.

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Important Economic News

▌71.8% probability that the Fed will maintain interest rates in November

According to CME’s “FedWatch,” the probability of the Fed maintaining interest rates in the range of 5.25% to 5.50% in November is 71.8%, while the probability of a 25 basis point hike to the range of 5.50% to 5.75% is 28.2%. The probability of maintaining interest rates in December is 53.3%, with a cumulative probability of a 25 basis point hike at 39.4% and a cumulative probability of a 50 basis point hike at 7.3%. (Jinshi Data APP)

▌Bank of Russia: Plans to continue with a tough policy to bring inflation back to 4% in 2024

On October 4, Deputy Governor of the Bank of Russia, Alexei Zabotkin, stated that in order to bring the annual inflation rate back to the target of 4%, the Bank of Russia may have to continue with a tough monetary policy in 2024. (Jinshi Data APP)

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LianGuai Encyclopedia

▌Blockchain-blindness

UTXO cannot see certain data on the blockchain, such as random numbers and the hash of the previous block. This flaw deprives scripting languages of their potential value based on randomness and severely limits applications in other areas, such as gambling.

Disclaimer: LianGuai, as a blockchain information platform, publishes articles for informational purposes only and does not constitute actual investment advice. Please establish the correct investment concept and be sure to enhance risk awareness.

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