Coinbase CEO Brian Armstrong revealed the company’s next step in an exclusive interview with Yahoo Finance. He mentioned that the Coinbase team is working on “flatcoin” (a better form of money created through cryptocurrency that resists censorship and tracks consumption). or prices to maintain purchasing power or close to purchasing power). Armstrong said that although Coinbase has not yet set foot in this area, it is very interested in it. Additionally, Armstrong said there are several ways for the crypto industry to gain more clarity, such as through the courts, Congress and the CFTC. He also hinted that there may be a new SEC chairman in 2024. Armstrong believes that it will definitely help the crypto industry if Gary Gensler no longer serves as SEC chairman. Armstrong also pointed out that cryptocurrency may be a hot topic in the 2024 US election, and Coinbase hopes to donate to presidential candidates who support cryptocurrency.

https://finance.yahoo.com/video/coinbase-ceo-companys-next-steps-172157616.html?guce_referrer=aHR0cHM6Ly93d3cuamluc2UuY24v&guce_referrer_sig=AQAAAJzVQPTYjKuhHeVuxShp8W4V7bSLBfhzZ_aeRFTkqufPIErA0Fqp9MVpTSzx7AoDJelwUjOYsG6jP1W39JffO-uZbl1d6TdEY&guccounter=2

Linea person in charge: Ethereum EIP-4844 is expected to reduce Rollup costs by more than 90%

Nicolas Liochon, head of zkEVM Linea at Consensys, said in an interview during Korea Blockchain Week that proto-danksharding (also known as Ethereum Improvement Proposal EIP-4844) has the potential to cut Rollup costs by more than 90%. Liochon explained that the transaction cost on Linea is only equivalent to 1/15 of the cost on Ethereum L1, but the rollup cost is still higher. EIP-4844 introduces data blocks that can be sent and appended to Ethereum blocks, where the data stored is inaccessible to the Ethereum Virtual Machine (EVM) and set to be deleted after a specified period of time. This innovation is expected to significantly reduce transaction costs and solve the core problem of data availability, which accounts for 95% of Rollup costs. Liochon emphasized that Linea’s Prover is responsible for off-chain calculation, verification, bundling, and generation of cryptographic proofs of combined transactions, which account for only 20% of the total cost. In addition, Linea hopes to be a versatile zkRollup for various DApps and solutions in the Ethereum ecosystem to meet the needs of DeFi, gaming, and social applications. It is reported that the Ethereum Foundation has not yet announced the specific release date of proto-danksharding, and related development and testing work is still underway.

https://cointelegraph.com/news/ethereum-proto-danksharding-to-make-rollups-10x-cheaper

ParaSpace: The first batch of 200 ParaX Medals will be airdropped on September 9th for the first 200 accounts migrated to ParaX

NFT lending agreement ParaSpace posted on the X platform that the first batch of 200 ParaX medals will be airdropped to the first 200 accounts migrated to ParaX at 10:00 on September 9, Beijing time. The total number of NFTs for users who migrated to ParaX is 2,000, including these 200 NFTs. ParaSpace will provide 1,000 NFTs (snapshots completed) to the top 1,000 users of TVL and BNPL, and users who have not entered the top 1,000 list and still migrate within the first week can get 800 NFTs, first come, first served.

https://twitter.com/ParaSpace_NFT/status/1700169717355532469

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Bernstein analysts predict that the encryption industry will launch its first spot Bitcoin ETF between mid October and mid March next year, and all spot ETF applications, including grayscale, will be approved simultaneously. Given that ETH also has a market structure similar to the CME futures and spot markets, Ethereum spot ETFs may first appear in the future.

Analysts say that the asset management industry is expected to strive to launch ETFs for other top tier blockchain token assets such as Solana and Polygon, and may even have top DeFi asset ETFs. This is a huge business opportunity for the asset management industry, where significant management fees can be charged in emerging asset classes.

https://www.coindesk.com/markets/2023/09/04/crypto-etf-opportunity-doesnt-stop-at-bitcoin-extends-into-multiple-digital-assets-bernstein/?utm_medium=social&utm_content=editorial&utm_term=organic&utm_campaign=coindesk_main&utm_source=twitter

Elon Musk's new biography book may confirm that he has been secretly funding the development of dogecoin

American biographer Walter Isaacson is about to release Elon Musk's biography of the same name. According to Isaacson, in the new book, the secret relationship between Elon Musk and the cryptocurrency dogecoin will be made public.

External speculation suggests that Isaacson's new book may further confirm that Elon Musk has been secretly funding the development of dogecoins for a long time.

Linea announced that important news will be released tomorrow

Linea, the Ethereum Layer2 network, announced that it will release important news tomorrow, with the content labeled "# ExcitingNewsComingSon" and "# NotAnAirdrop".

https://twitter.com/LineaBuild/status/1698462001503035779

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OP Labs has hired former Google executive Prithvi Subburaj as its Chief Operating Officer. This appointment was made after OP Co founder Karl Floersch became CEO of OP Labs, and Subburaj was the first executive to undergo a leadership change.

Subburaj previously held a leadership position in software engineering at Google, where he managed the wireless subscription service Google Fi for over 15 years.

https://www.theblock.co/post/248677/op-labs-hires-former-google-exec-as-chief-operating-officer

Thailand may implement a digital wallet plan to airdrop 10000 baht worth of tokens to its citizens

According to the Thai Public Broadcasting Service (Thai PBS)'s "Thai PBS World" news network, sources reported that the ruling party in Thailand will negotiate with the Bank of Thailand to develop a blockchain based digital wallet. The source said that the infrastructure will take at least six months to launch, and the KYC process will also charge 100 Thai baht per user. In addition, the plan also requires approval from the country's Securities and Exchange Commission.

It is reported that this plan will air drop 10000 Thai baht (approximately $285) of "Utility Tokens" for each Thai citizen aged 16 and above. But airdrop is not equivalent to legal Thai baht funds. Users can only use digital tokens within four kilometers of their residence. The validity period of tokens is only six months and cannot be converted into cash or used to repay debts.

It is estimated that the plan requires a budget of 560 billion baht. The government is in consultation with the Ministry of Finance and the Securities and Exchange Commission on how to issue this type of token and determine the source of funding.

https://www.thaipbsworld.com/utility-tokens-to-be-used-for-digital-wallet-scheme/#:~:text=Under%20the%20%E2%80%9Cdigital%20wallet%E2%80%9D%20scheme,4km%20radius%20of%20their%20residence.

OKX plans to enter the Indian market by recruiting local employees and exploring Web3 use cases

OKX Chief Marketing Officer Haider Rafique stated that the company is planning to enter the Indian market and recruit local employees to explore potential Web3 use cases.

OKX does not have a global headquarters, but has regional centers in Hong Kong, Singapore, Dubai, and the Bahamas. Rafique stated that the company plans to expand its wallet service "exponentially" by leveraging India's highly regarded developer community. Currently, OKX has approximately 200000 wallet users in India, accounting for only 5% of Web3 users in the country.

In addition, India has not yet introduced any legislation on Web3 or cryptocurrency issues in parliament, but has imposed strict taxes on transactions and implemented anti money laundering rules.

https://www.coindesk.com/business/2023/09/01/okx-planning-web3-foray-into-india-chief-marketing-officer-says/

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According to court documents, Grayscale won a lawsuit against the SEC.

Previously, on October 12, 2022, it was reported that Grayscale had submitted an opening briefing on the lawsuit filed by the US Securities and Exchange Commission (SEC) rejecting its application for a spot Bitcoin exchange traded fund. Grayscale Chief Legal Officer Craig Salm stated that there is no difference between spot ETFs and futures ETFs in the context of Bitcoin, as "the pricing of Bitcoin futures by Chishang Exchange is inherently lower than that of the spot Bitcoin market." The briefing stated that the SEC failed to demonstrate why there is a completely different approach to approving Bitcoin futures ETPs compared to spot Bitcoin ETPs, thus violating the most basic requirements of the US Administrative Procedure Act.

https://www.docdroid.net/vrehbKf/dc-cir-22-1142-01208547571-0-pdf

Starknet has suspended 24-hour limited time NFT casting activities and may resume release within a few days

Starknet announced in an article on the X platform that due to network load issues, the 24-hour limited time "Starknet Quantum Leap" NFT casting activity launched this afternoon has been suspended. Starknet stated that the release may resume within a few days.

https://twitter.com/StarknetEco/status/1696801803956838707

Bitcoin has broken the 200 day moving average, with the next resistance level of approximately $28800

According to Fairlead Strategies data, Bitcoin has exceeded its 200 day moving average. The initial resistance level is located at the 50 day moving average (approximately $28800), while the secondary resistance is located at the weekly cloud line, close to $31900.

Note: The weekly cloud line is related to Ichimoku Kinko Hyo. Ichimoku Kinko Hyo consists of five main lines and a "cloud", which is the part called "Kumo". It consists of two moving average regions, and its calculation is based on the high and low points over a period of time. The upper and lower parts of the cloud layer can be used as support and resistance areas.

https://twitter.com/CoinDesk/status/1696868422930383180

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On August 28th, OKX Hong Kong announced that it will launch a Bitcoin reward plan for local users. During the event, Hong Kong users who purchase encrypted assets using Visa and Mastercard credit or debit cards for the first time in OKX Hong Kong will receive a 5% Bitcoin reward, which will be directly distributed to the user's account.

OKX Hong Kong is in a phase of rapid growth, with new users more than doubling in the past month. Hong Kong is committed to becoming a global hub for Web3 and virtual assets, where user education and adoption are crucial. OKX Hong Kong's "First Time Card Purchase Cryptocurrency" reward program aims to provide a user-friendly cryptocurrency experience for existing and potential customers, Further promote the popularization and adoption of virtual assets.

https://twitter.com/okxchinese/status/1696063858857873844

Starknet: The community is preparing to commemorate the NFT release and celebrate the quantum leap version of the main network

Starknet posted on the X platform (formerly Twitter) that the community is preparing to commemorate the NFT release and celebrate the quantum leap version of the main network.

The NFT was released on August 30th at 13:00 (UTC+8) and lasted only 24 hours.

It is reported that the quantum transition version is Starknet version 0.12, which was officially deployed to the main network on July 12th.

https://twitter.com/StarknetEco/status/1696055377614287209

PAULY: The PEPE team is still implementing market manipulation and insider trading behavior

The founder of PEPE, PAULY, revealed in an article on the X platform (formerly Twitter) that the PEPE team had previously stolen over $10 million worth of funds from the CEX wallet and sold it in the public market. Now they have transferred the remaining $9.6 million to a wallet controlled by a 25 year old anonymous person. They had already arranged a large number of short orders for insider trading before stealing CEX funds. They are still carrying out market manipulation and insider trading violations.

Previously, PEPE announced the truth of "selling coins with multiple signatures": three former members privately sold and deleted the permission to sign multiple signatures, and the remaining 10.6 trillion PEPEs are safe and have been transferred to a new address starting with 0x9f5E.

PAULY, founder of Not Larva Labs in the NFT market, claims that the "truth of selling coins with multiple signatures" officially announced by PEPE is completely a lie, and claims that he, Matt Furie, the original image creator of "Pepe the Frog," and the entire community have been deceived by the PEPE team. The official team of PEPE holds PEPE worth 16 million to 17 million US dollars in at least 9 internal wallets.

https://twitter.com/Pauly0x/status/1695801675616031023

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Balal Khan, co-founder and growth manager of ZKEX, stated during an online live broadcast of the "RockTree OG Talk Series" held on the 22nd that it is expected that the Zk application will be launched in 2024. Government business and traditional financial business will be two potential areas for Zk.

Khan stated that when he communicated with other developers in 2022, they all believed that Zk EVM was basically not achievable. But this year, several research and development teams have released information about new technologies. 2023 is the year of infrastructure, and the industry will repair previously imperfect foundations. 2024 may embrace more excellent products.

He believes that Zk has two paths worth exploring in the future: one is to gain more trust from the government. The final application in the Zk field requires compliance in order to operate for a long time. The second is to attract the traditional financial industry. Traditional finance can truly be applied to Zk technology, which can change the slow and inefficient working mode of traditional finance.

The online live broadcast of "RockTree OG Talk Series" is jointly organized by RockTree Capital, a top investment fund in Web3.0, and the Daily Planet Daily. This program invites industry guests such as Golden Gate (GGX), ZKEX, and zkLink to participate in the discussion of "Zk's Technology Applications and Prospects", providing you with the most profound OG views and information about top companies on the track.

FTX seeks to sell, pledge, and hedge its crypto holdings worth over $3 billion, and hires Galaxy as an advisor

According to court documents submitted on Wednesday evening, FTX hopes to begin selling, pledging, and hedging its crypto asset holdings worth over $3 billion, and hiring Galaxy Asset Management as an advisor to assist.

FTX seeks to return funds to creditors in fiat currency instead of BTC or ETH, but believes that cautious trading can avoid losses to its encrypted assets as much as possible.

In addition, FTX is concerned that selling all its holdings at once will lead to a sharp drop in prices, and is currently seeking advice from market experts to avoid this situation, such as weekly sales restrictions.

It is worth mentioning that Galaxy Digital, a subsidiary of Galaxy Asset Management, previously stated that it held tens of millions of dollars in assets on the platform when FTX went bankrupt. The newly submitted document details the conflict of interest procedures to ensure that Galaxy's actions are in FTX's best interests.

https://www.coindesk.com/policy/2023/08/24/ftx-taps-galaxy-to-sell-stake-and-hedge-its-crypto-billions/?utm_medium=social&utm_source=twitter&utm_term=organic&utm_content=editorial&utm_campaign=coindesk_main

The DeFi TVL of the entire network is approaching its lowest point since February 2021, currently around $38.18 billion

According to DefiLlama data, the DeFi TVL for the entire network is currently around $38.18 billion, approaching its low point since February 2021, which was $37.911 billion on January 1, 2023.

https://defillama.com/

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South Korean women's music group BLACKPINK will launch a virtual space called "BLACKPINK THE SPACE" on the metaverse platform Roblox, providing its fans with an immersive metaverse experience starting from August 25th.

BLACKPINK THE PACE was created by virtual studio Karta behind Twice Square in collaboration with YG Entertainment subsidiary YG PLUS.

https://mashable.com/article/blackpink-palace-roblox

E-commerce platform Shopify integrates Solana Pay to support USDC payment methods

Solana Pay, a decentralized payment protocol developed by Solana Labs, has integrated its plugin with the e-commerce platform Shopify, providing USDC payment methods for millions of enterprises on its platform.

It is reported that Shopify has previously integrated with other payment applications such as Coinbase Commerce, Strike, Crypto.com, and BitPay.

https://techcrunch.com/2023/08/23/solana-pay-plug-in-with-shopify-for-usdc-payments/?guccounter=1

Doodles launches the second phase of the Launchpad program 'Inkubator'

The NFT project Doodles has announced the official launch of its second phase of Launchpad program, "Inkubator. It is reported that Doodles' first phase 'Inkubator' has funded a total of 6 projects.

Previously, the Doodles Community Council launched the Launchpad program "Inkubator" to provide support for Doodles OG holders, including community activities, marketing collaborations, business experiments, customized programs, and more.

https://twitter.com/doodles/status/1694003667911987422

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Meta plans to launch a web version of its Threads social platform this week, which will address a major issue of restricted user access and limited access to specific Threads posts. Meta Plan insiders have stated that the launch plan has not yet been finalized and may undergo changes.

Threads became the fastest application to reach 100 million downloads in just five days. But according to data analysis company SimilarWeb, the usage time of the Threads application has decreased by about 85% one month after its launch. At its peak, Threads had nearly 50 million active users worldwide every day, and currently this number has dropped to less than 10 million.

https://www.wsj.com/tech/metas-threads-app-to-launch-web-version-as-rivalry-with-x-enters-new-stage-706e8241

Chief Developer of DOGE: There are inherent flaws in the PoS mechanism. If DOGE switches to PoS or chooses to exit

Mishabor, a contributor and lead developer of Dogecoin, hinted on Twitter that if DOGE tries to transition to a PoS consensus, he may withdraw from the development work of the project. He believes that the PoS mechanism has inherent flaws and may conflict with the core principles of DOGE.

Mishabor pointed out that many PoS chains did not meet expectations, showed a trend of centralization, encountered catastrophic failures, or became difficult to use.

In addition, Mishaboor emphasized the potential difficulties brought by the PoS mechanism, as most of the token supply is held by cryptocurrency exchanges and potential regulatory challenges may arise.

He also stated that what PoS is known for, such as energy efficiency and faster trading, may not be important for the specific use cases of Dogcoin. Other solutions, such as payment channels and integration with payment providers, can achieve similar results without the need to switch to PoS.

https://twitter.com/mishaboar/status/1693120622048555422?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1693120622048555422%7Ctwgr%5E568310455cf6607c3099b562c42479faa13e00af%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcoingape.com%2Fdogecoin-developer-threa

CertiK: False CyberConnect airdrops on social media, please do not interact with relevant websites

According to CertiK monitoring, there have been false CyberConnect airdrops on social media. Please do not contact hxxps://cyber-rewards.org/ Interaction, this website is associated with a new container contract.

https://twitter.com/CertiKAlert/status/1693245346988626371

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Tether's Chief Technology Officer, Paolo Ardoino, tweeted that Tether will release three large products by the end of this year.

https://twitter.com/paoloardoino/status/1692463086601474405

Yuga Labs: Will gradually cease support for all scalable contracts and new series of OpenSea SeaPort

Yuga Labs announced on Twitter that due to OpenSea's mandatory royalty suspension announced yesterday, an optional creator royalty plan will be implemented for all NFT secondary sales after February 2024. Yuga Labs will gradually cease support for all upgradable contracts and new series of OpenSea SeaPort, and plans to complete it simultaneously with OpenSea in February 2024.

Yuga Labs stated, "Although NFT has always been committed to enabling users to truly own their digital assets, it is also empowering creators. Yuga firmly believes that creators should be protected from royalties in order to benefit from their creations.

https://twitter.com/yugalabs/status/1692627504505233439

Some blue chip NFTs on multiple NFT lending platforms have entered liquidation, including series such as BAYC and Azuki

According to loan agreement clearing interfaces such as BendDAO, ParaSpace, and JPEG'd, some blue chip NFTs have entered clearing, including BAYC, Azuki, and other series. Currently, the clearing status of NFTs on various platforms is as follows:

BendDAO: including 2 BAYCs, 1 Azuki, 2 Moonbirds, and 1 CloneX;

ParaSpace: includes 1 BAYC and 1 stakefish validator;

JPEG'd: Includes 2 Azuki units with starting prices of 2.86 ETH and 2.97 ETH, respectively.

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Google is currently actively preparing to release the large-scale machine language learning model Gemini AI this autumn, in order to catch up with competitors such as OpenAI's GPT-4. This is one of the riskiest products in the company's history, and according to a person involved in Gemini AI development, these models are expected to give Google the ability to develop products that its competitors cannot.

Gemini AI combines text generation capabilities similar to GPT-4 and supports the feature of "creating images based on text descriptions". Therefore, this AI tool can achieve functions such as "chat conversations", "analyzing chart data", "creating images", and "even using natural language command control software".

https://www.theinformation.com/articles/the-forced-marriage-at-the-heart-of-googles-ai-race

Coinbase has been approved to provide compliant cryptocurrency futures trading to eligible US clients

According to official sources, Coinbase Financial Markets has obtained regulatory approval from the American Futures Association (NFA), an organization designated by the US CFTC, to operate futures commission merchants (FCMs) and provide federally regulated cryptocurrency futures trading to eligible US clients.

Coinbase will now become the first crypto native company to directly provide traditional spot crypto trading as well as regulated and leveraged crypto futures, providing comprehensive trading solutions for verified clients.

https://www.coinbase.com/blog/coinbase-financial-markets-inc-secures-fcm-approval-to-bring-regulated

Ethereum Foundation: Q2 allocated a total of $9.218 million to 57 projects and activities

The Ethereum Foundation announced the funding status of the second quarter's "Ecosystem Support Program" projects and activities, with a total of $9218158.34 distributed to 57 projects. Including more than ten meetings such as the Paris DeFi Security Summit and the Ethereum Argentina Conference, as well as multiple studies on cryptography and zero knowledge proof, such as Ethereum KZG Ceremony, the email verification system ZKEmail using zero knowledge proof, and the smart contract wallet using zk SNARKs.

https://blog.ethereum.org/2023/08/15/allocation-update-q2-23

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Delphi Digital co-founder Kevin Kelly stated that this is not just another bear market rebound. Although many crypto market participants remain cautious due to rising interest rates, inflationary pressures, and recession concerns, Kelly believes that the market is forward-looking, which is already reflected in prices in 2023. Kelly believes that the market is in an environment similar to 2015-2017, and if Bitcoin follows the same script as the new liquidity cycle's upward trend, it may hit a historic high in the fourth quarter of 2024 and reach a new cycle peak in the fourth quarter of 2025.

Kelly stated that there may be a sell-off or consolidation in the near future, especially after the strong rebound seen in the past nine months.

https://www.theblock.co/post/245357/crypto-market-new-cycle-delphi-digital

CyberConnect (CYBER) airdrop has been opened for collection

According to the CyberConnect airdrop claim page, CyberConnect (CYBER) airdrops have been opened for collection.

According to previous reports, the collection will last for 30 days. Afterwards, all unclaimed CYBERs will be transferred to the community treasury. The community reward Season 1 will be open for application on August 15th at 12:00 UTC (20:00 Beijing time). A total of 2.4 million tokens are available for collection, accounting for 2.4% of the total. Users who hold Mystery Box, The Shards, Mini Shards, CyberProfile Premium Handle, and CyberProfile Early Adopter NFTs can claim them. The NFT snapshot was taken on August 1st.

https://cyber.co/rewards

Animoca Brands has partnered with CyberConnect to build a decentralized social layer for Mocaverse

Animoca Brands announced that they have signed a strategic cooperation memorandum of understanding with CyberConnect to build a decentralized social layer for Mocaverse. CyberConnect's smart account infrastructure, CyberAccount, will empower the Mocaverse identity layer, providing companies under Animoca Brands with the opportunity to build their own social graph and enhance interoperable user experiences across games, products, and services.

https://www.animocabrands.com/animoca-brands-and-cyberconnect-partner-to-build-decentralized-social-layer-for-mocaverse

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MakerDAO founder Rune Christensen has released a community proposal titled "SparkDAO SPK pre excavation airdrop; SubDAO farming overview", detailing the potential SPK pre excavation air drop plans for the loan agreement Spark Protocol, and will review the second phase of SubDAO mining economic model.

The proposal suggests backtracking the calculation of which users borrowed from Spark Protocol, starting from the time EDSR raised the borrowing rate to 5%, with token allocation based on the amount and duration of the collateral's volatile assets.

Distribute a total of 2 billion SubDAO tokens to each SubDAO participant within 10 years: 500 million SubDAO tokens per year in the first two years; 250 million pieces per year for the next two years; 125 million pieces per year for the following two years; 62.5 million pieces per year for the last four years.

https://forum.makerdao.com/t/sparkdao-spk-pre-farming-airdrop-general-subdao-farming-overview/21595

PayPal's launch of stablecoin PYUSD has raised concerns about centrlization

PayPal recently launched the stable currency PYUSD, which has raised concerns among the crypto community about centralization.

Cryptocurrency experts studying PYUSD's underlying smart contracts have found that the new stable currency is actually written in an "extremely ancient" version of Solidity. Solidity is the most commonly used programming language for Ethereum, the world's second largest blockchain. According to reports, PYUSD was written using version 0.4.24, which is expensive for end users and does not comply with current industry practices.

Other centralization issues include PayPal's ability to suspend all transfers, freeze addresses and funds, and even arbitrarily increase the total supply of stablecoin.

https://coinedition.com/paypals-new-pyusd-stablecoin-raises-centralization-concerns/

A16z crypto launches new SNARK based tools Lasso and Jolt

According to an official blog post, a16z Crypto has launched two technologies related to zero knowledge proof, Lasso and Jolt, which together represent a new SNARK design method that can improve the performance of widely deployed tool chains by an order of magnitude or more; Provide a better and more convenient developer experience; And make auditing easier.

The article states that Lasso has introduced a simplified method to validate SNARK by performing lookups on a large number of structured tables to avoid tedious manual optimization rounds. Lasso can significantly improve the overall speed of SNARK provers, with a performance improvement of ten times compared to tools such as the Halo2 toolchain, thereby helping to develop faster ZK rollups.

Jolt is a framework designed specifically for Roll ups compatible with Ethereum virtual machines, described as a novel method for building SNARK VMs using Lasso. This allows developers to create faster SNARK based Layer 2 rollops using their preferred programming language.

https://a16zcrypto.com/posts/article/introducing-lasso-and-jolt/

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According to Handelsblatt, a German business newspaper, on Tuesday, the country's financial regulatory agency Bafin is investigating Worldcoin.

A spokesperson said, "If a company attempts to enter the German market without necessary permission, such as using a German website or application, we will investigate it

Previously, on July 31st, Michael Will, the chairman of the German data regulatory agency, stated that due to the involvement of large-scale sensitive biometric data, the German data regulatory agency has been investigating the Worldcoin project since the end of last year. Will stated that this poses many risks, including whether users explicitly agree to process their highly sensitive biometric data based on "sufficient and clear" information.

In addition, the French privacy regulator CNIL and the British data regulator Information Commissioner's Office are both conducting investigations into Worldcoin.

https://www.reuters.com/technology/german-regulator-probes-worldcoin-crypto-currency-handelsblatt-2023-08-08/

Huobi is about to launch PayPal stable currency PYUSD

According to official announcements, Huobi will become the first exchange in the industry to support the launch of PYUSD stable coins and provide permanent zero handling fees for PYUSD/USDT trading pairs. After entering the market for circulation and the liquidity conditions are mature, Huobi will start trading as soon as possible. Please pay attention to the announcement notice of Huobi's subsequent opening of PYUSD trading.

PayPal USD (PYUSD) is a US dollar stable currency launched by PayPal for transfer and payment. PYUSD is issued by Paxos Trust Company, 100% supported by US dollar deposits, short-term US treasury bond bonds and similar cash equivalents. At present, 26.9 million pieces have been issued.

https://www.huobi.com/support/zh-cn/detail/44945804382445

Kyle Davies from 3AC: If I still have $10 billion left, my top priority will be to acquire FTX and restart it

Kyle Davies, co-founder of 3AC, tweeted that, If I still have $10 billion left, my top priority will be to acquire FTX and restart the platform. The plan is clear and requires several adjustments, such as shutting down Alameda, bringing the investment business closer to the three arrow model, reducing the amphetamine budget (a stimulant, which can refer to public relations budget here); what remains unchanged is to continue to maintain a user first product strategy and drive rapid business growth again.

https://twitter.com/KyleLDavies/status/1688704294881779712

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PayPal has announced the launch of the US dollar stable currency PayPal USD (PYUSD) for transfer and payment. The stable currency is issued by Paxos Trust Co. and supported by US dollars, short-term treasury bond and cash equivalents.

PYUSD will gradually be opened to PayPal's customers in the United States. Starting from today and in the coming weeks, qualified US PayPal customers who purchase PYUSD will be able to transfer PYUSD between PayPal and compatible external wallets; Use PYUSD for peer-to-peer payment; Choose to use PYUSD during checkout; Exchange any cryptocurrency supported by PayPal with PYUSD.

Starting from September 2023, Paxos will release a PYUSD public monthly reserve report outlining the specific composition of its reserves. Paxos will also release public third-party proof of the value of PYUSD reserve assets. The authentication will be issued by an independent third-party accounting firm and conducted in accordance with the authentication standards established by the American Institute of Certified Public Accountants (AICPA).

https://newsroom.paypal-corp.com/2023-08-07-PayPal-Launches-U-S-Dollar-Stablecoin

Worldcoin Product Leader: It is expected to integrate more company products in the coming months

Tiango Sada, the product manager of Tools for Humanity at Worldcoin, said that the company expects to accelerate its efforts to help other companies establish integration in the coming months. Sada stated that since its launch, it has opened the Software Development Kit (SDK) for use by any developer last Monday and is also integrated with the Discord platform.

Last week, Reuters reported that Worldcoin plans to expand its services to allow governments and organizations to use its software. Sada explained that since it is an open identity protocol based on zero knowledge proof, anyone can choose to use it and follow the same rules as the protocol.

https://cointelegraph.com/news/worldcoin-expects-more-companies-to-integrate-soon

The Monetary Authority of Singapore: To invest SGD 150 million in financial technology projects such as Web3 in the next three years

The Monetary Authority of Singapore (MAS) has announced that under the new Financial Sector Technology and Innovation Plan (FSTI3.0), it will commit to investing up to S $150 million in emerging technology projects such as Web3 over the next three years.

FSTI 3.0 will include projects such as the Innovation Acceleration track. MAS recognizes the importance of collaborating with the industry to support innovative fintech solutions generated by emerging technologies such as Web3.0, and will publicly call for the use of innovative technologies in industry use cases. Grant funds will be provided to support practical experimentation and commercialization.

Ravi Menon, Managing Director of MAS, said, "We look forward to continuing to collaborate with the industry to promote targeted financial innovation.

https://www.mas.gov.sg/news/media-releases/2023/mas-commits-up-to-s$150-million-for-technology-and-innovation-in-financial-sector

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According to the latest report of HashKey Capital, Ethereum LSD TVL will increase by 24 billion dollars in the next two years. HashKey Capital also predicts that by the end of the second quarter of 2025, the proportion of ETH pledged will reach 31% -45% of the total supply, which will further drive the development of the LSD market. Due to the increase in investor participation, the pledge income may decrease, but the report also points out that due to the composability of the DeFi agreement, this impact can be alleviated.

https://www.coindesk.com/markets/2023/08/03/ether-liquid-staking-protocols-could-double-in-2-years-hashkey/

Goldman Sachs: Artificial intelligence may attract $200 billion in global investment by 2025, accounting for 4% of US GDP

Economists from investment banking giant Goldman Sachs say that artificial intelligence may ultimately have a greater financial impact on the US economy than electricity and personal computers.

In an investment report on August 1st, Goldman Sachs economists Joseph Briggs and Devesh Kodnani predicted that by 2025, artificial intelligence could attract up to $200 billion in global investment, half of which would be in the United States, thereby increasing its GDP.

Although the technological boom stimulated by the introduction of electricity and personal computers in the past led to a 2% GDP growth, economists at Goldman Sachs estimate that artificial intelligence accounts for up to 4% of the US GDP, and in other countries that have already started investing heavily in this technology, this proportion may reach 2.5%.

https://cointelegraph.com/news/ai-investment-200-billion-2025-goldman-sachs

Infura: A network outage occurred yesterday, affecting networks such as Optimism, Arbitrum, and Base. The issue has now been resolved

Infura, a blockchain development platform under ConsenSys, stated on Twitter that at 19:27 yesterday, Infura experienced network outages and higher latency, affecting all networks. Optimism, Arbitrum, and Base have all experienced service interruptions, and the team has now identified and resolved the issue.

https://twitter.com/infura_io/status/1686783539537231897

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Analysts predict that Coinbase (COIN)'s second quarter earnings report may be better than expected, but regulatory risks and the threat of declining transaction volumes will continue to exist. Coinbase will release its second quarter financial report for 2023 after the close of trading on Thursday.

FactSet generally predicts that Coinbase's revenue will decrease from $773 million in the previous quarter to $629 million. It is expected that the trading volume for the quarter ending June 30th will decrease from $145 billion in the first quarter to $114 billion. The expected earnings per share is a loss of $0.76, with a loss of $0.34 in the first quarter.

Barclays analysts wrote in a report on Tuesday, 'We expect its adjusted EBITDA to far exceed expectations.'

Berenberg analyst Mark Palmer also reminded of the risk from the USDC Stablecoin, which generated $199 million in interest income in the first quarter, accounting for 27% of the net income of Coinbase Q1.

https://www.coindesk.com/business/2023/08/02/coinbase-analysts-optimistic-ahead-of-q2-earnings-but-warn-about-usdc-risks-and-lower-trading-volumes/

Following Volatility Shares, five companies, including Grayscale, Bitwise and VanEck, submitted Ethereum Futures ETF applications

According to the information shared by Eric Balchunas, senior analyst of Bloomberg ETF, on Twitter, there are currently 6 companies applying for Ethereum futures ETF.

Following the submission of Ethereum Futures ETF application by Volatility Shares on July 28, Bitwise, Roundhill, VanEck, Proshares and Grayscale (grayscale) followed up on August 1, respectively Bitwise Ethereum Strategy ETF, Roundhill Ethereum Strategy ETF, Ethereum Strategy ETF, Proshares Short Ethereum Strategy ETF and Grayscale Ethereum Futures ETF (ETHG).

The next deadline for the SEC to make a decision on the application for Volatility Shares is October 11th, while the next deadline for making a decision on the other five applications is October 16th.

It was reported yesterday that Volatility Shares planned to launch Ethereum Futures ETF and submitted the application documents to the SEC on July 28. In May, Grayscale, Bitwise Asset Management, Direxion and Roundhill Investments also applied for Ethereum futures ETF, and withdrew the application after communicating with SEC.

https://twitter.com/EricBalchunas/status/1686510111123030016/photo/1

Insider: CZ attempted to close Binance. US this year, but was opposed by the CEO of Binance. US

According to two insiders, CZ attempted to shut down Binance. US earlier this year to protect the overall interests of Coin Security.

One of the insiders stated that the board of directors of Binance. US, where CZ is the chairman, voted on whether to liquidate the company, but failed to obtain unanimous approval.

Brian Shroder, CEO of Binance.US, is the only one who opposes this decision, because he is worried that the sudden closure of the exchange may force customers to quickly transfer or liquidate Cryptocurrency, thereby causing damage to customers.

https://www.theinformation.com/articles/binance-ceo-changpeng-zhao-pushed-to-shutter-u-s-exchange

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Web3 Social Graph Protocol CyberConnect has revealed a token economy model, with a total of 100 million CYBERs, of which 9% are used for community rewards, 34% for ecological development, 25.12% for private investors, 15% for teams and consultants, 10.88% included in the community treasury, and 3% for CoinList public sales and Coin An Launchpool.

https://link3.to/cyberconnect/post/8286a1724b50cf80ba9bbcee753d1851ed0f51e74084938f900d46f9505a9462

FTX Creditor Alliance Comment on FTX restructuring plan: Unsecured creditor committee opinion neglected

The FTX Creditors Alliance expressed its opinion on the FTX restructuring plan on Twitter. The Alliance said that the opinions of the Official Committee of Unsecured Creditors (UCC) were ignored, and UCC put forward the following requirements: UCC should have the right to choose who will run FTX, restart and recover tokens, and invest $2.6 billion in short-term treasury bond and obtain holding interest. In addition, UCC opposes FTX's application to extend the exclusivity requirement, so that creditors can propose their own plans.

https://twitter.com/AFTXcreditor/status/1686237674112200704

Binance Japan officially launched, providing spot, wealth management, and NFT services

Binance Japan is officially launched, and its users can access a variety of products and services, including spot trading, wealth management products and the NFT platform. Coin On Japan provides spot trading services for 34 types of tokens, including BNB, which is the first time BNB has opened trading in Japan.

In November last year, King'an acquired Sakura Exchange BitCoin (SEBC), a local licensed Cryptocurrency trading service provider in Japan, and entered the Japanese market. SEBC has changed its name to Binance Japan Inc. For existing Japanese users with Binance.com accounts, the migration program will be launched after August 14th.

https://www.binance.com/en-JP/support/announcement/binance-japan-launch-a-dedicated-platform-for-residents-in-japan-48c06be2cbce4689b01fb7e61e08a469

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BAYC tweeted that tickets to the Hong Kong Apefest conference were open for BAYC and MAYC holders to apply for at 8am this morning. Users need to use the Tokenproof app to scan the Apefest official website QR code to apply for tickets, and a deposit of $169 is required for tickets. It is reported that this fee will be refunded shortly after the user participates in the event and undergoes scanning authentication. In addition, the cost of purchasing a separate ticket is $269.

But soon after, BAYC updated that there were issues with Apefest ticketing. Due to the high number of Apes unable to enter the Apefest ticket queue, ticket application will be suspended until next week. Tokenproof is actively repairing, and the team will issue a reminder 48 hours before the ticket goes live.

https://twitter.com/BoredApeYC/status/1684353195827683328

BlackRock reports that in the 60-40 portfolio, the optimal allocation ratio of BTC is 84.9%

BlackRock said in a previous asset allocation study that Bitcoin is an independent investable asset, which may bring changes to investors seeking to maximize returns.

This research was carried out in April 2022. The research results show that for 60-40 portfolios (60% stocks and 40% bonds), the degree of fixed Risk aversion is γ = The optimal configuration for BTC at 1.50 is 84.9%. The remaining 15.1% is recommended to be allocated to stocks and bonds.

According to the Sharpe ratio (the excess return indicator per unit of investment risk), adding Bitcoin to the portfolio can significantly improve its risk adjusted return. The Sharpe ratio of the 60-40 portfolio without Bitcoin is 0.72, while the Sharpe ratio of the portfolio with 84.9% Bitcoin is 1.53.

https://bitcoinarchive.co/blackrock-bitcoin-allocation-portfolio-84/

Amazon launches Managed Blockchain services

Amazon has launched the Amazon Managed Blockchain (AMB), which allows users to use their blockchain infrastructure to build applications faster and expand the availability of access and query functions. AMB provides call nodes, allowing developers to interact with digital assets and DApps on multiple chains through RPC without the need for specialized infrastructure.

https://www.coindesk.com/business/2023/07/27/amazon-expands-managed-blockchain-services/

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The NFT project Cool Cats has announced that they are participating in Reddit's Gen4 Collectable Avatars series, and its limited edition NFT series Reddit Collectibles will be released on Reddit on July 26th.

https://twitter.com/coolcats/status/1683918416401555456?s=20

OpenAI, Anthropic, Google and Microsoft set up Frontier Model Forum

OpenAI, Anthropic, Google and Microsoft announced the joint establishment of the Frontier Model Forum, which will focus on ensuring the security development of future large-scale AI models.

https://twitter.com/OpenAI/status/1684145154628653056

Lido DAO members are promoting a dual governance model

Lido DAO contributor Marin Tvrdi ć During the EthCC event, it was stated that Lido DAO members are promoting a dual governance model. If it is approved, this model will give the pledge of Ethereum and the Lido user who holds the stETH the right to veto the governance proposal approved by the LDO holder.

Lido DAO core contributor and anonymous developer skozin. eth first proposed the concept of dual governance on June 22, 2022. The proposal aims to grant STETH holders veto power over DAO governance decisions. The proposal has not yet entered the discussion stage and has been voted on. (Decrypt)

According to previous reports, in June 2022, Lido DAO proposed a change to the Lido governance system to "reduce the existing governance scope of its token holders". Although Lido DAO is currently deployed in Ethereum, LDO holders have governance power over other mobile pledge agreements on the chain, including Polygon and Solana.

Under the current multi chain governance system of this DAO, LDO holders have incentives related to other chains. Sam Kozin, developer of Lido smart contract, said, "It is not necessarily consistent with the incentives of Ethereum network participants."

To address this issue, the Lido team proposes a dual governance solution, proposing the introduction of a "dispute resolution mechanism for improper incentives between pledgers and LDO holders".

https://decrypt.co/150113/lido-finance-dao-mulls-introducing-new-dual-governance-model

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Sam Altman, co-founder of OpenAI and founder of Worldcoin, tweeted, "Like other ambitious projects, Worldcoin may or may not succeed, but trying such things is the way to progress. In either case, we will love those 'annoying people' because they give us energy. Please continue.

https://twitter.com/sama/status/1683380247050477568

Changing Twitter to X may result in billions of dollars in brand value reduction

Elon Musk has changed Twitter's product name to "X" and removed the Blue Bird logo and all related words, including "tweet". According to analysts and brand organizations, this move resulted in a loss of $4 billion to $20 billion in company value.

Steve Susi, Director of Brand Communication at Siegel&Gale, said, "It took us over 15 years to gain so much popularity globally, so losing the Twitter brand name would have a significant financial impact." Analysts and brand organizations called the renaming of the product a mistake.

Todd Irwin, founder of brand organization Fazer, stated that Twitter is one of the most well-known social media brands. The bird logo, along with Instagram and Facebook logos, adorns small businesses and websites around the world.

Insider Intelligence analyst Jasmine Enberg said, "Twitter's corporate brand is already closely linked to Elon Musk's personal brand. With or without the name X, most of Twitter's established brand assets have been lost among users and advertisers.

https://www.bloomberg.com/news/articles/2023-07-24/twitter-turning-into-x-is-set-to-kill-billions-in-brand-value?utm_source=twitter&utm_medium=social&utm_campaign=socialflow-organic&utm_content=markets&cmpid=socialflow-twitter-business&cmpid%3D=socialflow

Former CFTC Chairman: Stablecoin can connect the crypto world and the real world

Timothy Massad, the former chairman of the Commodity Futures Trading Commission (CFTC), stressed the importance of the government's attention to the Stablecoin ecosystem in an interview with CNBC. Massad believes that the Stablecoin is a bridge between the "crypto world and the real world", and the government should not regard it as a fashion that is doomed to disappear.

He was worried that the regulator did not properly address the risks of the Stablecoin, but excluded it from the discussion because it believed that the Stablecoin did not actually work. Cointelgraph

According to the previous report, Timothy Massad, the former chairman of the US CFTC, proposed to avoid the whole controversy ("law enforcement supervision" and "registration") by creating a self regulatory organization (SRO) when talking about the Cryptocurrency regulatory solution. The organization accepts the supervision of SEC and CFTC, and formulates a common set of investor protection standards for Cryptocurrency intermediaries and digital assets traded on them.

Massad added that he is not concerned that other jurisdictions will surpass the United States, and pointed out that implementing new laws such as the EU Crypto Asset Market (MiCA) system will be more complex than people imagine.

https://cointelegraph.com/news/former-cftc-chairman-says-stablecoins-can-be-a-bridge-between-two-worlds

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