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💌💌💌💌💌 ✔ This week's crypto market highlights: ⚫CZ to be released on September 29 ⚫TON, Curve partner for TON-based stable swap ⚫DBS Bank to launch OTC crypto options ⚫BlackRock and Microsoft to launch AI fund ⚫Fed cuts rates by 50bps ⚫Terraform Labs approved for shutdown ⚫SEC approves options on BlackRock Bitcoin ETF ▪ Telegram ▪ X  ▪ Community

Le Figaro reported that after the arrest of Pavel Durov in Paris, Telegram began responding to requests from French authorities and promised to cooperate with French justice. Following this, similar requests were made by the U.S., South Korea, and Belgium. Telegram has since provided information to assist in criminal investigations, including cases related to pedophilia, and has shown increased cooperation with judicial authorities, confirmed by Belgian prosecutors. ▪ Telegram ▪ X ▪ Community ▪ Source

💡💡💡 The SEC has approved options on Blackrock spot Bitcoin ETF. ▪️ Telegram ▪️ X ▪️ Community

The Bank of New York Mellon (BNY), the largest custodian bank in America, received exemption from the SEC's SAB 121 accounting guidelines for institutional crypto custody businesses. SAB 121 requires that entities who choose to custody crypto list the assets on their balance sheet and create a corresponding liability equal to the worth of the crypto. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Catizen (CATI), TON-based cat-raising game on Telegram, became the first cat-themed token to list on Binance. The price shot up over 30% in light of the listing. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Seven of the ten central banks overseeing the ten most traded currencies have recently cut interest rates, except for Norway, Australia, and Japan. June ⚫ Switzerland: -25bps August ⚫ United Kingdom: -25bps ⚫ Sweden: -20bps ⚫ New Zealand: -25bps September ⚫ Canada: -25bps ⚫ Euro zone: -60bps ⚫ United States: -50bps ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

MicroStrategy bought another 7,420 BTC for approximately $458.2m, bringing its total holdings to 252,220 BTC. The firm's BTC holdings have already achieved positive yields of 5.1% quarter-to-date (QTD) and 17.8% year-to-date (YTD). ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

BlackRock is reportedly preparing for a potential U.S. dollar crisis, warning that the $35tr debt pile could drive institutional interest in Bitcoin as a hedge. Following the Fed’s surprise 0.5% interest rate cut, Bitcoin surged past $62,000, with many seeing this as the start of a new bull run. BlackRock has highlighted Bitcoin as a unique diversifier against economic risks, as institutional adoption grows. ▪ Telegram ▪ X ▪ Community ▪ Source

Terraform Labs has received approval to shut down its operations in bankruptcy, allowing the company liquidate assets and repay eligible stakeholders. The preceding judge said it was better than further litigation. The defunct company must settle crypto claims before addressing SEC obligations. Losses are estimated between $184.5m and $442.2m (exact number unknown), in relation to the $40bn wiped out in the UST and LUNA collapse. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The German government shut down 47 crypto exchanges, allegedly tied to illegal activity, arguing they failed to implement proper Know Your Customer (KYC) requirements. The government seized some customer and transaction data amid the investigation. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Gold hit a new all-time high, surpassing $2,609 per ounce. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The SEC requested an extension to move the discovery deadline in the Coinbase lawsuit from October 18, 2024 to February 18, 2025. The request stems from the need to review over 133,000 documents related to Coinbase, giving the SEC more time to complete its probe. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Over the past 24 hours, over $200m was liquidated, with $155.5m attributed to short positions, as Bitcoin surged more than 6% and exceeded $63,300. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Canada's central bank has decided to abandon plans for a central bank digital currency (CBDC), known as the "digital loonie," after nearly five years of research, without specifying a clear reason. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Silvergate Capital, the parent company of crypto-focused Silvergate Bank, filed for Chapter 11 bankruptcy with listed assets between $100m and $500m and liabilities between $10m and $50m. Silvergate Bank settled with the SEC for allegedly helping facilitate fraud at FTX. That month, the Federal Reserve dropped separate charges after it wound down, reimbursed customers, and ceased banking. As part of its Chapter 11 bankruptcy, Silvergate's reorganization plan proposes fully paying several debts, including admin fees, taxes, and high-priority claims. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

MEXC Ventures, Foresight Ventures, and Mirana Ventures launched a joint fund to support projects within the Aptos ecosystem. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Donald Trump made a campaign stop at PubKey, a Bitcoin bar in New York City, and made his first BTC transaction to pay for his order. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The state of Louisiana has become the first state to accept cryptocurrency as a valid form of payment Louisiana residents will have the option to pay for state services from their private, secure crypto wallets using Bitcoin, Bitcoin Lightning, and USD Coin. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The Bank of Korea will launch a pilot for its central bank digital currency (CBDC) by the end of 2024. Starting with an initiative allowing 100k citizens to convert their bank deposits into digital tokens, which can be spent at convenience stores, including Nonghyup Hanaro Mart. Six major commercial banks and neobanks will participate in distributing the tokenized funds. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Commerzbank (CBK), the second-largest bank in Germany by number of branches, will launch a cryptocurrency service to corporate clients. Customers will be able to trade Bitcoin and Ether through the bank's partnership with Crypto Finance. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Federal Reserve Chairman Jerome Powell said that 17 out of 19 FOMC members are in favor of three or more rate cuts this year, with some even saying four or more rate cuts are necessary. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The website domain of Ethena Labs, the issuer of the USDe stablecoin, was hacked. The team clarified that the protocol wasn't compromised but warned against interacting with its front-end. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The active TON addresses outpaced those of other major L1 blockchains, including Tron, Ethereum, and Litecoin, reaching over 3m daily average users in the first week of September. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The Hong Kong Monetary Authority (HKMA) reduced its base rate by 50bps to 5.25%, following a similar rate cut by the U.S. Federal Reserve. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Rari Capital, a DeFi platform, settled with the SEC for an undisclosed amount for allegedly misleading investors and acting as an unregistered broker. The SEC claims the co-founders misled investors, stating Earn pools would auto-rebalance, but manual adjustments were often needed and sometimes missed. The agency also claimed its Fuse platform resulted in Rari engaging in unregistered broker activity. Rari and its co-founders neither admitted nor denied the findings, and part of the settlement is an agreement to cease and desist from breaking securities laws in the future. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

💡💡💡 Fed cuts by 50 bps ▪️ Telegram ▪️ X ▪️ Community

Tether, the company behind stablecoin USDT, has released its Q2 2024 attestation report: ⚫️Reserves amounted to $118.4bn, exceeding liabilities by $5.3bn ⚫️Holds $97.6bn in U.S. Treasuries, making it the 18th largest holder, surpassing Germany, UAE, and Australia ⚫️Worked with 180 institutions in 45 jurisdictions globally, freezing around 1,850 wallets ⚫️Assisted in recovering over $113m in assets Tether also launched TetherFacts, dedicated to addressing public concern while displaying its lifelong accomplishments. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

SIX Swiss Exchange, Switzerland's largest stock exchange, is exploring the creation of a crypto trading platform in the EU, leveraging the country's advanced crypto laws to attract traditional investors. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Revolut, a London-based fintech giant, is planning to launch its own stablecoin. The fintech giant, worth $45bn, received a national banking license in July, bringing it closer to becoming a fully licensed U.K. bank offering crypto services. The firm would join other entrants in the stablecoin sector, including PayPal, Ripple, and BitGo, which announced its stablecoin at Token2049 in Singapore. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

FTX prosecutors praised Caroline Ellison for her "exemplary" cooperation ahead of her sentencing for fraud on Sept. 24. The U.S government highlighted her role in founder Sam Bankman-Fried's conviction, without recommending a specific sentence, but asked the judge to take her cooperation into account. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Donald Trump's role in World Liberty Financial, a crypto project by his sons, was revealed in its white paper to be the "Chief Crypto Advocate." Eric and Donald Jr. were listed as the project's "Web3 Ambassadors," and 18-year-old Barron Trump was listed as the "Chief DeFi Visionary." ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

BlackRock has partnered with Microsoft to launch a $30bn AI investment fund called the Global AI Infrastructure Investment Partnership. This initiative will prioritize infrastructure, focusing on data centers and energy projects. The partnership includes Abu Dhabi-backed MGX as a general partner, with Nvidia providing expertise, and could reach $100bn in investment. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Prager Metis, the international accounting firm, settled with the SEC for $745k for alleged negligence-based fraud in its inaccurate audit of FTX before the November 2022 collapse. Between 2017 and 2020, Prager Metis violated auditor independence rules, leading to an additional $1.2m in penalties and pre-judgment interest. Prager must limit new business and retain a compliance consultant, as ordered by the SEC's Enforcement Division to enhance investor protection. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

BRICS is developing a new payment system that excludes the U.S. dollar, confirmed Russian Foreign Minister Sergey Lavrov. This system will handle trading, investing, and settlements, allowing countries to bypass reliance on the dollar. Lavrov stated that the move is a response to the U.S. and European sanctions, and he expects many developing nations to adopt the system to avoid potential sanctions. ▪ Telegram ▪ X ▪ Community ▪ Source

DBS Bank, Singapore's largest bank, will launch over-the-counter (OTC) crypto options trading and structured notes for institutional clients in Q4 2024. These offerings will provide exposure to Bitcoin and Ethereum, allowing clients to hedge against market volatility. ▪ Telegram ▪ X ▪ Community ▪ Source

TON Foundation and Curve Finance are partnering to launch a TON-based stable swap project, enhancing stablecoin trading with Curve’s technology. This initiative aims to meet growing stablecoin demand and boost liquidity on the TON blockchain. Submissions for development are open until September 24. ▪ Telegram ▪ X ▪ Community ▪ Source

DeFi Technologies, a Canadian crypto firm, is preparing for a Nasdaq listing after filing a Form 40-F with the SEC. The company holds Bitcoin, Solana, and CORE, with 2024 profits of $105m, aiming to attract more investors through the uplisting. ▪ Telegram ▪ X ▪ Community ▪ Source

Senator Elizabeth Warren, along with two other Democratic senators, is urging the Fed to implement a 0.75% interest rate cut to protect the U.S. economy from potential recession. They argue that aggressive cuts are needed to support the labor market and prevent further economic risk. Meanwhile, BlackRock predicts the Fed's interest rate cuts will be smaller than expected, citing a strong economy and persistent inflation. While markets anticipate deep cuts, BlackRock argues recession fears are overblown, and a large cut isn't necessary. ▪ Telegram ▪ X ▪ Community ▪ Source

MicroStrategy plans to offer $700m in convertible senior notes due 2028, with an option to raise an additional $105m. The proceeds will be used to redeem $500m of Senior Secured Notes and acquire more Bitcoin. ▪ Telegram ▪ X ▪ Community ▪ Source

Digital asset investment products saw a $436m inflow this week, led by Bitcoin, while Ethereum struggled with continued outflows. ⚫Bitcoin led with $436m inflows, reversing a prior 10-day outflow ⚫Ethereum saw $19m in outflows, continuing its recent struggles ⚫U.S. inflows totaled $416m, with Europe also seeing strong inflows ⚫Blockchain equities gained $105m due to new ETF launches ▪ Telegram ▪ X ▪ Community ▪ Source

Donald Trump's sons announced the World Liberty Financial (WLFI) governance token. The project plans to sell the majority of its WLFI tokens, upwards of 63%, to accredited investors in the U.S. The token sale will be SEC regulated. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Over 40 financial firms have joined the BIS's Project Agorá to explore how tokenization can enhance wholesale cross-border payments. The project, launched in April, involves seven central banks and aims to integrate tokenized commercial bank deposits with central bank money to improve payment efficiency. ▪ Telegram ▪ X ▪ Community ▪ Source

The Royal Government of Bhutan's investment arm, Druk Holdings, holds 13k BTC worth over $750m, making it the fourth largest government with Bitcoin holdings. Unlike other countries, Bhutan's holdings don't come from seizures, but from Bitcoin mining operations, which started at $5,000 per BTC. Electricity tariffs in Bhutan cost just $0.015 to $0.032 per kWh, compared to the $5.96 per kWh in Hawaii. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

All five-members of the SEC Commission are expected to testify in front of the Financial Services GOP/U.S. House Committee of Financial Services on September 24. This will be the first time the whole commission, not just the chair, has testified together since 2019. ⚫ Gary Gensler (Chairman) ⚫ Hester Pierce ⚫ Caroline Crenshaw ⚫ Mark Uyeda ⚫ Jaime Lizárraga ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Binance founder CZ, who is currently serving a four-month prison sentence, is set to be released from prison on September 29. ▪ Telegram ▪ X ▪ Community ▪ Source

Flyfish Club, the team behind the planned NYC private club, settled with the SEC for $750k for allegedly promising NFT buyers profit expectations. Between 2021 and 2022, they sold club memberships through NFTs, raising $14.8m from about 1,600 NFT sales. Flyfish has until September 26 to destroy all Flyfish NFTs in its possession and stop collecting royalties from secondary sales. ▪ Telegram ▪ X ▪ Community ▪ Source

✔ This week's crypto market highlights: ⚫Nigeria to crack down on unregulated exchanges ⚫FTX settled disputed $600m Robinhood shares ⚫SEC enforcement actions in 2024 ⚫Tether, TRON and TRM Labs launch Financial Crime Unit ⚫Trump vs Harris debate ⚫U.S. inflation figures released ⚫UK recognizes crypto as property ⚫U.S. lawmakers sue SEC over biased hires ⚫Russia to regulate crypto by November ⚫Do Kwon's extradition decision updates ▪ Telegram ▪ X  ▪ Community

Bybit has secured a provisional license from Dubai’s Virtual Asset Regulatory Authority (VARA), which allows the exchange to serve both retail and institutional crypto investors in Dubai. The company aims to obtain a full operational license soon, following its move to Dubai in 2022. ▪ Telegram ▪ X ▪ Community ▪ Source

CME Group estimated a 41% probability of a 25bp rate cut and a 59% chance of a 50bp cut ahead of the September 18 FOMC meeting. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The Bank of Russia has proposed the launch of a digital ruble, with plans to introduce the central bank digital currency (CBDC) on July 1, 2025. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Binance has discovered a global malware threat known as "Clipper malware," which alters cryptocurrency withdrawal addresses, leading to significant financial losses. The malware replaces copied wallet addresses with those of attackers, impacting users on Android, web apps, and iOS. Binance’s security team said it is blacklisting suspicious addresses, notifying affected users, and monitoring new threats. ▪ Telegram ▪ X ▪ Community ▪ Source

Sam Bankman-Fried (SBF), the former CEO of the defunct crypto exchange FTX, has appealed to overturn his fraud conviction. In a 102-page appeal, he claimed that Judge Lewis Kaplan made several rulings that impeded him from putting up a proper defense. SBF’s lawyer suggested that Kaplan was biased as he had already presumed that the defendant was guilty from the start. ▪ Telegram ▪ X ▪ Community ▪ Source

Brazil’s Supreme Court has lifted the freeze on bank accounts linked to Elon Musk's Starlink and X after they paid $3.3m in fines. The penalties stem from X’s failure to comply with court orders to block accounts accused of spreading misinformation and hate speech. ▪ Telegram ▪ X ▪ Community ▪ Source

The SEC has expanded its lawsuit against Binance, adding tokens like AXS, FIL, ATOM, SAND, and MANA as unregistered securities. ▪ Telegram ▪ X ▪ Community ▪ Source

USDT liquidity on TON has reached $729m in just four months since its integration into Telegram. ▪ Telegram ▪ X ▪ Community ▪ Source

The Supreme Court of Montenegro is expected to issue a ruling by the end of this month regarding potential legal violations in the extradition case of Terraform Labs founder Do Kwon. The prosecutor claims that both the High Court and Appellate Court rulings on Do Kwon’s extradition may have violated the law. ▪ Telegram ▪ X ▪ Community ▪ Source

Revolut with over 45 million clients has added support for TON. Now, Toncoin is available for trading in the bank’s app for users in the UK and the EU. ▪ Telegram ▪ X ▪ Community ▪ Source

MicroStrategy acquired an additional 18,300 BTC using cash at an average price of $60,408 between August 6 and September 12, worth approximately $1.11bn. Their total holdings reached 244,800 BTC, worth $9.45bn. ▪ Telegram ▪ X ▪ Community ▪ Source

Consumers' Research, a consumer protection group, has released a report criticizing Tether for a lack of transparency regarding its U.S. dollar reserves backing the USDT stablecoin. The report raises concerns that: ⚫Tether has not provided a full audit of its reserves by a reputable accounting firm. ⚫There are parallels between Tether's opacity and issues that led to the collapse of FTX and Alameda Research. ⚫Tether may be involved with questionable entities and facilitating the use of USDT to evade international sanctions. ▪ Telegram ▪ X ▪ Community ▪ Source

Anatoly Aksakov, the Chairman of the Russian State Duma Committee on Financial Markets announced that Russia will regulate cryptocurrency trading by November. ⚫Initially, a small number of organizations will be allowed to participate in trading, with plans to expand this circle later. ⚫The Central Bank and the Ministry of Finance are preparing documents to determine the individuals and organizations involved in this process. ⚫Cryptocurrency is planned to be used exclusively for foreign trade activities; it will not be recognized as a means of payment within Russia. ▪ Telegram ▪ X ▪ Community ▪ Source

OpenAI has introduced a new series of models called OpenAI o1, designed to handle more complex tasks with better reasoning and problem-solving abilities, particularly in areas like science, coding, and math. The models are part of a beta available to ChatGPT Plus users and come in two versions: ⚫o1-preview: The larger model with advanced reasoning capabilities and a broad knowledge base. ⚫o1-mini: A smaller, faster version optimized for coding tasks, performing competitively with the larger model. ▪ Telegram ▪ X ▪ Community ▪ Source

U.S. Congressman John Rose has introduced a bill stating that the SEC and CFTC should establish a joint committee on crypto regulation and come to a unified stance on matters concerning the classification of tokens, whether they are considered commodities or securities. ▪ Telegram ▪ X ▪ Community ▪ Source

The UK High Court has ruled that the stablecoin Tether (USDT) is considered property under English law, marking the first such decision after a full trial. This legal recognition aligns with recent efforts to classify cryptocurrencies as personal property and sets a precedent for future cases involving digital assets. ▪ Telegram ▪ X ▪ Community ▪ Source

The U.S. Treasury Department said the annual interest alone on its $35.3tr national debt topped $1tr for the first time. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

A Deutsche Bank survey revealed that U.S. consumers are becoming more positive about cryptocurrency, with fewer than 1% now calling it a "fad." Over half of respondents view crypto as an important asset class and payment method, and 65% believe it could eventually replace cash. However, sentiment on Bitcoin is mixed, with a third of consumers expecting its price to stay below $60,000 by year-end and only 12%-14% predicting it will surpass $70,000. Meanwhile, stablecoins face uncertainty, with just 18% expecting them to thrive and 42% anticipating their decline. Concerns about a cryptocurrency collapse in the next two years were raised by more than half of those surveyed. ▪ Telegram ▪ X ▪ Community ▪ Source

Grayscale is launching the first U.S. XRP trust, giving accredited investors direct exposure to XRP. While different from an ETF, the trust could potentially convert into one with SEC approval, following Grayscale's successful Bitcoin and Ethereum ETF launches. ▪ Telegram ▪ X ▪ Community ▪ Source

TON ranks as the top blockchain for transaction growth this year, according to CryptoRank. ▪ Telegram ▪ X ▪ Community ▪ Source

Trading platform eToro agreed to pay $1.5m to settle charges with the SEC for operating as an unregistered broker, an unregistered clearing agency, and for facilitating trading in certain crypto assets as securities. Going forward the only crypto assets available for U.S. customers to trade on eToro will be Bitcoin, Bitcoin Cash, and Ethereal. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

An FTX/Alameda wallet began redeeming 177,693 SOL ($23.84m) from its 7.057m SOL ($947m) holdings in Solana PoS staking. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Chainalysis data shows that payments in Singapore using stablecoin reached a record high of almost $1bn in Q2, doubling Q1 numbers, led by transactions at merchant outlets. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

U.S. lawmakers launched a probe into the SEC, raising concerns that it may have favored left-leaning hires in senior roles, potentially violating federal law and compromising impartiality. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The UK Parliament introduced a new Property Bill to clarify crypto’s legal status. This new legislation would mean that, for the first time in British history, digital holdings, including cryptocurrency, NFTs, and carbon credits, can be considered personal property under the law. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

WSJ published an exposé on Tether, calling it the "The Shadow Dollar That’s Fueling the Financial Underworld.” ⚫ Performance —Tether, an unregulated cryptocurrency, rivals Visa in transaction volume, handling up to $190bn daily. —Despite having a small workforce of under 100 employees, Tether has surpassed BlackRock in profitability, earning $6.2bn last year. ⚫️Undermining U.S. Efforts and Regulatory Challenges —Tether's activities undermine U.S. efforts to combat arms dealers, sanctions busters, and scammers. —Tether is enabling a "parallel economy" beyond U.S. law enforcement's reach. —Tether is privately controlled in the British Virgin Islands by a secretive group of owners, with its activities largely hidden from governments. —Tether supports transactions in Iran, Venezuela, and Russia, where the U.S. government has restricted access to the dollar financial system. —Tether is used by Russian oligarchs and weapons dealers for property purchases, Venezuela's sanctioned state oil firms for cargo payments, and by drug cartels, fraud rings, and groups like Hamas for money laundering. ⚫️Support in Volatile Economies —In countries with high inflation, like Argentina and Turkey, Tether serves as a stable asset for daily transactions and savings protection. ⚫️Wallet Freezing Challenges —Tether claims it can track every transaction on public blockchain ledgers and can seize and destroy tether held in any wallet. —However, freezing wallets turned out to be largely ineffective—out of $153bn across 2,713 blacklisted wallets, Tether was able to freeze only $1.4bn, with the rest already withdrawn. ▪ Telegram ▪ X ▪ Community ▪ Source

India continues to lead the world in cryptocurrency adoption, according to Chainalysis. Despite a ban on offshore exchanges like Binance and Kraken, Indian users have maintained high crypto activity, accounting for 40% of the usage on those platforms as of April 2024. ▪ Telegram ▪ X ▪ Community ▪ Source

💡💡💡 The U.S. announced the inflation figures: ⚫ CPI: 2.5% YoY, 0.2% MoM ⚫ Forecasted CPI: 2.5 YoY, 0.2% MoM ▪ Telegram ▪ X ▪ Community ▪ Source

A solo Bitcoin miner achieved a rare win by successfully solving block 860749, earning a reward of approximately $180,000. The block, mined on September 10th, contained nearly 6,000 transactions and resulted in 3.169 Bitcoin being awarded to the miner. Solo miners solving blocks is extremely rare, with only 290 blocks solved by individual miners out of the 859,000 blocks produced since Bitcoin’s launch in 2009. ▪ Telegram ▪ X ▪ Community ▪ Source

A U.S. federal judge dismissed a class-action lawsuit against Atomic Wallet, which had been filed following a $100m hack in 2023. The court found that it lacked jurisdiction over the Estonian-based firm and its CEO, Konstantin Gladyshev. The plaintiffs, who stored cryptocurrencies in Atomic Wallet, had argued that the company’s services were accessible in Colorado. However, the judge ruled that merely downloading an app or accessing customer support in the state wasn't sufficient to establish legal jurisdiction. ▪ Telegram ▪ X ▪ Community ▪ Source

Australia plans to ban social media for children under 14 to 16, pending a trial before proposing an official law. Companies like Meta already impose a minimum age of 13 for platforms like Facebook and Instagram, but the law could come with actual penalties for underaged access. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Donald Trump and Kamala Harris made no mention of cryptocurrency during their first-ever debate but focused on other issues: Trump's points: ⚫ Claimed no wars occurred during his term, warning Harris' win could lead to WW3. ⚫ Criticized Harris for not firing underperforming officials, unlike his administration. ⚫ Questioned why Harris hasn’t implemented her plans as Vice President. Harris' points: ⚫ Avoided detailing immigration plans. ⚫ Highlighted Trump's prosecutions for national security, economic, and election-related charges. ⚫ Accused Trump of trying to take the country backward, promising she would move it forward. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Standard Chartered Bank launched crypto custody services in the UAE after receiving its digital asset custody license from the Dubai Financial Services Authority (DIFC). ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Alameda Research CEO Caroline Ellison’s attorney filed a motion to redact the names and personal information of parties writing letters of support for her sentencing hearing, scheduled for Sept. 24, citing potential risks to her safety if information about Ellison’s current living situation is made public. ▪ Telegram ▪ X ▪ Community ▪ Source

Brazil's Federal Revenue Service has developed an in-house AI tool to identify crypto-related tax fraud and money laundering operations. This AI system has already uncovered over $180m in illicit transactions. For instance, it detected a scheme involving more than $125m in shell company transactions for cryptocurrency purchases, linking them to tax irregularities and possible criminal activity. This move aligns with broader government efforts to leverage AI for financial oversight, including Brazil's Central Bank incorporating AI into its digital currency pilot. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Tether, TRON, and TRM Labs have launched the T3 Financial Crime Unit (T3 FCU) to combat illegal activities on the TRON blockchain. The unit has already frozen over $12m in USDT linked to criminal schemes, and collaborates with law enforcement to fight crimes like fraud and terrorism financing. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The SEC has imposed a staggering $4.7bn in enforcement actions against crypto firms in 2024, marking a 3,000% increase from the $150.3m recorded in 2023. This surge is largely driven by a record $4.47bn settlement with Terraform Labs and its former CEO, Do Kwon, in June. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

FTX has reached a settlement with Emergent Technologies over the disputed $600m worth of Robinhood shares. As part of the deal, FTX will pay Emergent $14m to cover administrative expenses, and in return, Emergent will withdraw its claim to the 55m Robinhood shares and associated cash. The settlement allows for a quicker resolution of Emergent’s bankruptcy case in Antigua and helps FTX avoid further litigation costs, with a focus on maximizing value for its creditors. The shares, originally acquired by Emergent in 2022, were liquidated to Robinhood for around $606m following FTX’s collapse in 2022. A hearing on the matter is set for October 22. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The Central Bank of Russia has reached agreements with all local platforms to begin monitoring digital asset transactions in real-time, reducing the regulatory burden on platforms and increasing investor trust. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Rumble has been banned in Brazil, with CEO Chris Pavlovski warning of growing restrictions in other countries as it is also blocked in France, Russia, and China. The platform is currently facing legal battles in France over free speech and has joined Elon Musk’s X in suing the Global Alliance for Responsible Media (GARM) for allegedly boycotting their platforms. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Significant events this week are anticipated to impact macro markets, potentially causing fluctuations: —Sept. 9: Consumer Inflation Expectations report —Sept. 10: Donald Trump and Kamala Harris ABC News —Sept. 10: Organization of the Petroleum Exporting Countries (OPEC) monthly report — Sept. 11: August Consumer Price Index (CPI) report —Sept. 12: Core Producer Price Index (Core PPI YoY) report —Sept. 13: Michigan Consumer Sentiment Preliminary report ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The Nigerian SEC announced plans to crack down on unregulated individuals and businesses, including crypto exchanges. Currently, only two exchanges, Quidax and Busha, are approved by the SEC. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Binance released its 22nd proof of reserves with a snapshot date of September 1. The report shows: ⚫BTC: 605,690, down 1.27% ⚫USDT: 22.11bn, up 4.34% ⚫ETH: 4.49m, down 4.26% ⚫BNB: 40.71m, up 0.42% ⚫SOL: 32.03m, down 2.11% ⚫XRP: 2.76bn, down 5.12% ⚫USDC: 1.51bn, down 3.18% ▪ Telegram ▪ X ▪ Community ▪ Source

U.S. ETFs have faced significant outflows, with investors withdrawing approximately $1.2bn over the past eight days. This marks the longest stretch of net outflows for the 12 Bitcoin ETFs since they were launched in January. The withdrawals come amid broader market anxiety caused by mixed U.S. jobs data and deflationary pressures in China, affecting both stocks and commodities. ▪ Telegram ▪ X ▪ Community ▪ Source

Major Democratic donors have called on Kamala Harris to replace FTC Chair Lina Khan and SEC Chair Gary Gensler if she wins the November 2024 election. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Donald Trump pledged a 100% tariff on countries that are shifting away from the dollar. Members of BRICS+ including Brazil, Russia, and China are already moving away from the U.S. dollar and are trading in local currency. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

✔ This week's crypto market highlights: ⚫Capital and crypto markets simultaneously crash ⚫Mt. Gox ex-CEO to launch new exchange ⚫Top VCs subpoenaed over Uniswap ⚫United Texas Bank receives cease and desist ⚫Robinhood settles with DOJ ⚫Brazil progresses CBDC pilot ⚫87% of UK crypto applications fail ⚫Telegram CEO posts first message since arrest ⚫Telegram reaches 10m premium users ▪ Telegram ▪ X  ▪ Community

Pavel Durov announced that Telegram has reached 10m paid subscribers using Telegram Premium. Along with this milestone, several updates are being introduced: ⚫’People Nearby’ feature has been removed due to low usage and issues with bots and scammers. In its place, ‘Businesses Nearby’ will be launched, showcasing verified businesses that can display product catalogs and accept payments. ⚫Telegraph, the standalone blogging tool, will no longer accept new media uploads due to misuse by anonymous actors. Durov also emphasized Telegram’s commitment to improving moderation, aiming to turn it into an area of praise this year. ▪ Telegram ▪ X ▪ Community ▪ Source

Japan's three largest banks—Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank—will launch a pilot stablecoin platform, Project Pax, aimed at providing faster international settlements for businesses. ▪ Telegram ▪ X ▪ Community ▪ Source

Binance Kazakhstan has received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license, moving closer to becoming Kazakhstan’s first fully regulated Digital Asset Trading Facility (DATF). ▪ Telegram ▪ X ▪ Community ▪ Source

Crypto companies have been ramping up their lobbying efforts, with some of the most significant spenders including: ⚫ Coinbase: Increased by 3,475% from $80k in 2017 to $2.86m in 2023. ⚫ Binance.us: increased 656.25% from $160k in 2021 to $1.215m in 2023. ⚫ Ripple: Increased by 1,780% from $50k in 2017 to $940k in 2023. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The U.S. court ruled in favor of Coinbase, granting its motion to compel the SEC to provide key information critical to the case. Coinbase is suing the SEC for failing to provide clear rules on how securities laws apply to cryptocurrencies, arguing that the lack of guidance creates uncertainty and exposes companies to enforcement actions. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

TIME Magazine recently published a list of the top 100 most influential people in AI, featuring 40 CEOs and founders, including Nvidia's Jensen Huang, Google's Sundar Pichai, OpenAI’s Sam Altman, Meta’s Mark Zuckerberg, and Reddit’s Steve Huffman. Notably, Elon Musk was nowhere to be found on the list despite efforts at Tesla and Grok (xAI). ▪️ Telegram ▪️ X ▪️ Community ▪️ Source