LianGuai Morning News | Coinbase to List PYUSD’

LianGuai Morning News reports that Coinbase will list PYUSD.

Headlines

Coinbase to List PYUSD

On August 30th, Coinbase announced its support for LianGuaiyLianGuail USD (PYUSD) on the Ethereum network (ERC-20 tokens). If the liquidity conditions are met, trading will begin on September 1st at 1:00 or later.


Market

As of the time of writing, according to coinmarketcap:

The recent trading price of BTC is $27,300.2, with a daily change of +0.35%;

The recent trading price of ETH is $1,705.09, with a daily change of +0.08%;

The recent trading price of BNB is $223.78, with a daily change of +0.35%;

The recent trading price of XRP is $0.5281, with a daily change of +0.77%;

The recent trading price of DOGE is $0.0658, with a daily change of +1.45%;

The recent trading price of ADA is $0.2655, with a daily change of +1.01%;

The recent trading price of SOL is $20.836, with a daily change of -0.04%.


Regulations

Judge Clarifies Ethereum as a Commodity, Not a Security in Uniswap Case

Bill Hughes, a lawyer from ConsenSys, stated on X platform (formerly Twitter) that the judge in the Risely v. Uniswap case at the Southern District of New York federal court on August 29th explicitly pointed out that Ethereum is a commodity, not a security. The document does not provide an analysis, only a conclusion, but the judge’s statement is quite clear.

In addition, the judge’s document also hints that wrapped BTC is a commodity, although this point is not explicitly stated. However, the statement that “Ethereum is a commodity” is undeniable.

Bloomberg Analyst: Grayscale’s Victory Might Render Alameda’s Redemption Lawsuit Unnecessary

In a report on Wednesday, Bloomberg Intelligence’s litigation analyst stated that Grayscale’s victory against the SEC could pave the way for the company to convert its fund into the first spot Bitcoin ETF in the United States. This transformation would allow the redemption of fund shares, making Alameda’s lawsuit unnecessary, which seeks to lower GBTC fees and implement a redemption plan. (Redemption would align the fund with the value of its held Bitcoin, a long-standing demand of the fund.)

The analyst wrote, “Grayscale’s court ruling may indicate that Alameda’s attempt to release approximately $9 billion in funds for Grayscale shareholders is premature, and the ultimate resolution of the issue may be delayed.”

U.S. Copyright Office Issues AI Investigation Notice

On August 30th, the U.S. Copyright Office published a formal request for comments and investigation notice regarding copyright and artificial intelligence (AI) in the Federal Register. According to the document, the Copyright Office is seeking “factual information and views” on the latest developments in AI models like OpenAI’s ChatGPT and Google’s Bard and the copyright issues they raise. Interested parties wishing to submit comments during the official investigation period must do so before October 18th.


Blockchain Applications

Prada, a luxury brand, launches an anti-counterfeiting solution based on Aura

Prada, a luxury brand, has launched an anti-counterfeiting solution based on the consortium chain Aura. Customers can verify the authenticity of goods through digital certificates and view information such as sales and maintenance records.

Other brands such as Loro Piana, Louis Vuitton, and Maison Margiela have also launched anti-counterfeiting services based on Aura.

Avalanche releases Subnet-EVM 0.5.4 version

Avalanche developers announced on social media X (formerly Twitter) that the Subnet-EVM 0.5.4 version has been released. This version brings experimental support for Avalanche Warp Messaging to EVM through AWM precompilation, and enhances the overall performance and stability of nodes. This version also allows your node to stay in sync with the latest AvalancheGo version.


Cryptocurrencies

Republican presidential candidate: Grayscale’s victory “clears the way” for Bitcoin innovation in the United States

Vivek Ramaswamy, a Republican presidential candidate in the United States, stated that Grayscale’s victory “clears the way” for Bitcoin innovation in the country. In a personal tweet, he said, “This decision is strong and clears the way for keeping Bitcoin and blockchain innovation in the United States instead of overseas, but it shouldn’t have reached the courts in the first place.”

It is reported that Vivek is one of many Republicans who suspect that the SEC is trying to stifle cryptocurrency innovation. He participated in the 2024 Republican presidential debate in August 2023.

Circle to launch native USDC on Optimism next week

Circle will launch native USDC on Optimism next week. Before the launch of native USDC, USDC on the blockchain browser will be renamed as USDC.e in the form of Ethereum bridging. Circle will also contact ecosystem applications to make the same changes to their application UI and documentation. In addition, Optimism will work with ecosystem applications to provide a smooth transition from USDC.e to USDC over time.

$120 million short positions liquidated after Grayscale ruling

According to data from Coinglass, after the historic ruling between Grayscale and the SEC was announced, traders holding short positions were liquidated for $120 million within 24 hours. A total of $169 million in positions were liquidated, with short positions accounting for nearly two-thirds. This liquidation is the largest since August 16, when the market crashed and over $1 billion in positions were liquidated. In addition, according to data from Velo, the total value of open contracts increased nearly tenfold within four hours on Tuesday, from $3.8 billion to $34 billion.

Fidelity: Ethereum faces more resistance than Bitcoin in being widely accepted as a form of currency

Fidelity Digital Assets subsidiary has released a research paper on Ethereum investment. The researchers who wrote the report state that investors can consider Ethereum (ETH) as an “aspirational” form of currency, but Ethereum may face more resistance than Bitcoin in being widely accepted as a currency form.

The report states that there is uncertainty about the future upgrades of Ethereum and the unrestricted circulation of tokens. Fidelity acknowledges that Ethereum’s use of smart contracts unlocks a new level of programmability, which is Ethereum’s “true differentiating factor”. Fidelity’s final conclusion is that the increase in activity on Ethereum has actually driven the demand for block space, thereby generating cash flow for token holders.

Arkham Intelligence lists Robinhood Wallet as the fifth largest ETH holder

Cryptocurrency tracking platform Arkham Intelligence has identified Robinhood as one of the largest holders of Ethereum. According to Arkham Intelligence, Robinhood controls the fifth-ranked wallet in terms of Ethereum holdings. Arkham Intelligence stated: “We recognize that Robinhood is the owner of the third largest Bitcoin wallet, which has been widely reported. But most reports overlook the fact that we also found they are the owner of the fifth largest ETH wallet, holding $2.54 billion worth of ETH.”

In another tweet, Arkham clarified that the funds in the wallet are held for user balances, and the SEC requires that the cryptocurrency balances on Robinhood be backed by a 1:1 ratio.

Arkham states that other cryptocurrencies held in Robinhood’s associated wallet include 122,076 BTC ($3.3 billion), 341 trillion Shiba Inu ($277.8 million), 4.9 million LINK ($29.7 million), and 2.6 million AVAX ($29.6 million).


Important Economic News

Deposit rates lowered, the interest rate of a major bank’s three-year term will be reduced by 20 basis points

Deposit rates have been lowered again. On August 30th, it was learned from an insider of a major bank in Shanghai that the interest rate for the bank’s three-year term deposits will be lowered from 2.85% (annualized) to 2.65%, taking effect on August 31st. As for the deposit rates for other terms, the insider stated that the rates will also be lowered, but specific notices have not been issued yet. In addition, it was learned from a customer manager of another major bank that the bank’s deposit rates are expected to be lowered on September 1st, with an estimated decrease of 10 basis points for one-year and two-year terms, and 25 basis points for three-year and five-year terms. (source: National Business Daily)


LianGuai Encyclopedia

Side-channel attack

Side-channel attacks target the physical implementation of a system rather than its algorithms. They exploit information leaked during device operation, such as power consumption, electromagnetic radiation, or timing variations, to launch an attack. These subtle leaks can allow attackers to gain deep insights into sensitive data such as cryptographic keys, potentially compromising the security of cryptocurrency hardware wallets.

Disclaimer: LianGuai, as a blockchain information platform, publishes articles for informational purposes only and does not constitute actual investment advice. Please establish a correct investment concept and always be aware of the risks.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

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