LianGuai Daily | The US SEC has postponed its decision on the Bitcoin spot ETF; UK cryptocurrency travel rules come into effect today.

The US SEC delays Bitcoin spot ETF decision; UK cryptocurrency travel rules take effect today.

Today’s Highlights:

The US SEC has postponed its decision on all Bitcoin spot ETFs, including BlackRock.

The UK cryptocurrency travel rule has come into effect today, requiring crypto companies to collect trader information.

Baidu’s “Wenxin Yiyu” has risen to the top of the Apple Store’s free app rankings, with some Chinese capabilities surpassing GPT-4.

• Steady profit from rebound? An article lists 4 volatile tokens with the best performance.
• Binance Research Emerging Stablecoins and an Overview of Market Competition
• LianGuai Morning News | SEC decides to postpone the registration of 7 Bitcoin ETFs including BlackRock

Stablecoin protocol Prisma Finance officially launches on the Ethereum mainnet.

PYUSD is now available on the Coinbase website, as well as iOS and Android applications.

Chainflip token sale on CoinList started in the early hours of today.

Trust Machines’ Bitcoin wallet brand has been rebranded as Leather.

Aerodrome TVL exceeds $183 million, becoming the highest TVL DeFi protocol on the Base chain.

Regulatory news

The US SEC has postponed its decision on all Bitcoin spot ETFs, including BlackRock.

A screenshot of a document released by Bloomberg analyst James Seyffart shows that the US Securities and Exchange Commission (SEC) has postponed its decision on Bitcoin spot ETF applications from WisdomTree, Invesco Galaxy, Valkyrie, Fidelity, VanEck, Bitwise, and BlackRock. The document shows that the new deadline for the SEC to make a decision on applications from WisdomTree, Invesco Galaxy, Fidelity, VanEck, and BlackRock is October 17th, Valkyrie is October 19th, and Bitwise is October 16th.

The UK cryptocurrency travel rule has come into effect today, requiring crypto companies to collect trader information.

According to Cointelegraph, UK crypto businesses are now able to begin withholding certain cryptocurrency transfers to comply with the new cryptocurrency travel rule that came into effect on September 1st.

The UK Financial Conduct Authority (FCA) introduced rules for virtual asset service providers on August 17th, ensuring that UK-based virtual asset service providers (VASPs) “collect, verify, and share information relating to transfers of crypto-assets.” If individuals or entities in overseas jurisdictions that have not implemented travel rules receive inbound payments, VASPs must conduct a risk assessment on whether to provide crypto-assets to the beneficiary.

The travel rule was developed by the Financial Action Task Force (FATF), a UN agency, in June 2019. The UK began implementing the travel rule through legislation in July 2022, aiming to prevent money laundering and financing of terrorism activities conducted on-chain.

NFT

Base has airdropped Genesis Builder NFTs to over 100 applications and service providers.

Base tweeted that it has airdropped Genesis Builder NFTs (gold tier) to over 100 applications and service providers that supported Base upon its launch. Eligible teams for this airdrop must have already deployed at the time of Base’s launch and must be an application, infrastructure, or service provider. Independent token or NFT projects are not eligible. Other deployed projects can apply for silver-tier NFTs by the end of today and bronze-tier NFTs by the end of September.

Metaverse

The Sandbox: Plans to end virtual land sales around the end of 2026

According to reports from Xinbao, Sebastien Borget, co-founder and COO of The Sandbox, stated in a recent interview that currently, over 60% of The Sandbox users who have purchased virtual land still hold it, and over 30% of virtual land owners have the intention to develop the land, with some projects expected to launch in the next two years. The Sandbox plans to continue selling virtual land and intends to end virtual land sales around the end of 2026. Therefore, they will carefully plan the remaining land, build a new community, and introduce well-known brands and celebrities.

Baidu’s “Wenxin Yiyuan” rises to the top of the Apple Store’s free app rankings, surpassing GPT-4 in some Chinese language capabilities

According to reports from Shanghai Observer, in the early morning of August 31st, Baidu’s large-scale model application “Wenxin Yiyuan” announced its full opening, allowing users to download and use it from the app store, and enterprise users can log in to the Qianfan large-scale model official website to call the Wenxin Yiyuan interface. The current large-scale model used is Wenxin’s large-scale model version 3.5. After the release of Wenxin Yiyuan for download, it quickly climbed to the top of the Apple App Store’s free app rankings.

The report stated that in Chinese dialogue scenarios, Wenxin Yiyuan is on par with ChatGPT, but its application scenarios are more diverse. In addition to common functions such as human-computer dialogue, literary creation, and mathematical and logical reasoning, Wenxin Yiyuan also includes hundreds of practical tools in its built-in “Discover” section, covering various application scenarios such as work, learning, emotions, and drawing. It also has an “Community” function that supports user-generated content creation and sharing. At the beginning, the gap between Wenxin Yiyuan and ChatGPT was evident, but after more than five months of “evolution,” Wenxin Yiyuan has surpassed ChatGPT-3.5 in some evaluation indicators, and even rivals GPT-4. On August 12th, the evaluation report of large-scale models released by Tianjin University and Xinchuang Haihe Laboratory showed that Wenxin Yiyuan has surpassed ChatGPT and gradually narrowed the gap with GPT-4. The research report of the School of Journalism and Communication of Tsinghua University also showed that GPT-4 still has the highest comprehensive score, while Wenxin Yiyuan’s score has surpassed ChatGPT, and some Chinese language capabilities have surpassed GPT-4.

In addition, official data from Baidu’s platform shows that within 24 hours from 0:00 to 24:00 on August 31st, Wenxin Yiyuan replied to over 33.42 million questions from netizens. Yesterday’s news mentioned that 11 AI large-scale model products from Tencent, Baidu, and other companies will be registered through generative artificial intelligence. Starting today, they will be launched one after another. Later today, it was announced that Wenxin Yiyuan App had over 1 million daily active users on the first day of its release.

Project Updates

Stablecoin protocol Prisma Finance officially launches on the Ethereum mainnet

Prisma Finance, a decentralized stablecoin protocol supported by Ethereum’s staked tokens (LST), has been successfully deployed on the Ethereum mainnet and officially launched. Initially, Prisma supported the following assets as collateral: wstETH (Lido), rETH (Rocket Pool), sfrxETH (FRAX), and cbETH (Coinbase). The total amount of mkUSD that can be minted for each collateral type of wstETH, rETH, and sfrxETH is 6 million USD, and for cbETH, it is 2 million USD. The initial interest rate is set to 0% to encourage early participation. Token release is initially disabled. In the coming weeks, Prisma will launch the PRISMA token to establish a further decentralized path through governance. Users will be able to lock PRISMA to obtain vePRISMA, allowing them to participate in governance and increase the release of PRISMA tokens.

Bitwise has requested to withdraw the application for a Bitcoin and Ethereum market cap-weighted futures ETF.

Fox Business reporter Eleanor Terrett tweeted that Bitwise has requested to withdraw the application for a “Bitcoin and Ethereum market cap-weighted strategy ETF.” The fund aims to provide investors with exposure to the market cap-weighted futures contracts of Bitcoin and Ethereum. Previously, the U.S. Securities and Exchange Commission (SEC) had postponed its decision on all Bitcoin spot ETF applications, including those from BlackRock.

Binance Labs launches Web3 investment community ColLabs.

Binance Labs has announced the launch of the Web3 investment community ColLabs, aiming to foster connections within the Web3 venture capital (VC) community and serve as a knowledge-sharing hub. The community seeks to facilitate insights and investment opportunities sharing among Binance incubator teams and their portfolio companies. ColLabs offers not only a community channel but also combines a blog, a newsletter, and an invite-only Telegram channel.

PYUSD is now available on the Coinbase website, as well as iOS and Android applications.

According to official announcements, Coinbase has announced that LianGuaiyLianGuail USD (PYUSD) is now available on the Coinbase website and Coinbase iOS and Android applications (with an experimental label). Coinbase users can log in to buy, sell, convert, send, receive, or store these assets.

Aave community to execute “GHO and V3 Pool Integration Tech Issue” fix proposal and introduce borrowing limit.

The governance page shows that the Aave community has passed the on-chain vote for the “GHO update for Aave V3 Ethereum Pool” proposal and the execution will take place within 14 hours. The proposal will fix the technical issue in the GHO and Aave V3 pool integration to reactivate the coordinator and introduce a borrowing limit of 35 million GHO tokens to help manage risk exposure effectively.

Earlier on August 25th, it was discovered that there was a technical issue in the integration of GHO with the Aave V3 GHO pool, which temporarily halted the minting of new GHO tokens. On August 30th, Aave lifted the suspension on GHO assets on V3 and introduced freezing as an alternative solution.

StarkWare has open-sourced the cryptographic proof generation engine Stone Prover.

StarkWare, the parent company of Starknet, announced on X platform (formerly Twitter) that the cryptographic proof generation engine Stone Prover (formerly STARK Prover) has been open-sourced.

According to previous statements from StarkWare, developers will be able to independently review and utilize Stone Prover and build on top of it without requiring permission once it is open-sourced. StarkWare had stated that open-sourcing the Prover is a crucial step towards decentralizing Starknet. Currently, StarkWare has open-sourced Cairo, LianGuaipyrus Full Node, and all versions of Starknet, and the upcoming new Starknet sequencer will also be open-sourced.

The Chainflip token sale on CoinList started in the early hours today.

CoinList announced that the Chainflip (FLIP) token sale started at 1:00 am (Beijing time) on September 1st. CoinList had previously adjusted the rules for community sales, requiring CoinList accounts to be fully funded with the required purchase amount before being eligible to complete transactions in community sales.

The Bitcoin wallet brand Trust Machines has been rebranded as Leather.

Web3 company Trust Machines, which builds the Bitcoin application ecosystem, has announced the launch of its flagship wallet, Leather, after acquiring Hiro Wallet and undergoing rebranding. The wallet is self-custodial, open-source, and auditable, allowing users to protect and manage Bitcoin, Stacks L2, Ordinals, and other secure Bitcoin assets such as BRC-20. The wallet has a total installation of over 375,000 and over 100,000 monthly active users.

Last year, Trust Machines completed a $150 million financing round to build the Bitcoin application ecosystem.

Multiple Ethereum liquidity staking providers commit to limiting staking amounts to no more than 22% of the total staking amount.

Superphiz.eth, an Ethereum community advisor, stated on X platform that multiple Ethereum liquidity staking providers such as Rocket Pool, StakeWise, Stader Labs, Diva Stake, Puffer Finance, and Swell Network have committed (or are committing) to limiting their holdings to no more than 22% of the total staking amount, aiming to address the increasing centralization issue in the Ethereum staking market.

Warning: Phishing code is disguising the “transfer” or “approve” function names as “claim,” please remain cautious.

MistTrack has issued a phishing warning, stating that phishing attempts are disguising the function name “claim” when it could actually be “transfer” or “approve.” Please remain cautious.

Xterio, a blockchain game issuer, announces the launch of XTER token.

Xterio, a blockchain game issuer, has announced on the X platform that it will launch the XTER token, which will provide incentives for the Xterio game ecosystem. Traders, holders, and game players within the ecosystem will be able to benefit from its utility programs and built-in systems.

Previously in July, Binance Labs announced a $15 million investment in web3 game issuer Xterio.

Famous real estate “influencer” Shouye: The “Gulfstream” private jet that Xu Jiayin sold is now in the hands of Sun Yuchen.

According to the latest article by famous real estate “influencer” Shouye, “Xu Jiayin sold two Gulfstreams in October 2021 and paid off two US dollar debts before the grace period ended. What he may not know is that the plane is now in the hands of Sun Yuchen.”

Important Data

Aerodrome TVL exceeds $183 million, becoming the highest TVL DeFi protocol on the Base chain.

DefiLlama data shows that the total locked value (TVL) of the Velodrome forked protocol Aerodrome has exceeded $183 million, with a 664% increase in the past 24 hours, surpassing protocols like Compound V3 and Uniswap V3, making it the highest TVL DeFi protocol on the Base chain. Possibly driven by the Aerodrome TVL, the TVL on the Base chain has exceeded $355 million.

Data: NFT sales in August decreased by 20% compared to the previous month to $395 million, with the Ethereum chain accounting for 57%.

According to the NFT sales data tracked by CryptoSlam on 22 blockchains, the total NFT sales in August amounted to approximately $395 million, a 19.7% decrease from July’s $492 million (monitored on 21 chains). Among these sales, NFT sales on the Ethereum chain accounted for 57%, approximately $226 million. The second-ranked blockchain in terms of NFT sales is Polygon, with around $35.12 million, followed by Solana ($33.94 million), Mythos ($26.62 million), and ImmutableX ($20.89 million).

It is worth mentioning that Bitcoin’s on-chain NFT sales have dropped to 7th place, with only about $11.85 million, a decrease of 81.7% compared to July’s $64.92 million.

The price of CYBER on the Korean CEX is about $15.8, a premium of about 75% compared to the global market.

Scopescan data shows that the amount of CYBER held on Upbit has increased to 3.8 million tokens. The current trading price of the token on the Korean CEX is about $15.8, a premium of about 75% compared to the global market.

The SHIB holdings on the Robinhood platform have increased by 70.4% in the past 20 days.

According to data from Watcher.guru cited from Arkham Intelligence, the SHIB holdings on the Robinhood platform have increased significantly, possibly influenced by the relaunch of Shibarium. Currently, the Robinhood platform holds a total of 341.34 trillion SHIB tokens, worth about $272 million, an increase of 70.4% compared to the holdings of 200 trillion SHIB tokens (worth about $197.4 million) on August 10th.

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