Crypto-friendly United Texas Bank has been slapped with a cease and desist order from the Federal Reserve over “significant deficiencies” in servicing crypto clients.
https://x.com/Cointelegraph/status/1831610907513721196
The Fuel Discord has been compromised.
Do not click on any suspicious links or provide any personal information.
https://x.com/fuel_network/status/1831828663677153454
Spot ETF Flow on 5.09: BTC-ETF -$211.15M, ETH-ETF -$152.7K
https://sosovalue.com/assets/etf/us-btc-spot
Pavel Durov: "❤️ Thanks everyone for your support and love!
Last month I got interviewed by police for 4 days after arriving in Paris. I was told I may be personally responsible for other people’s illegal use of Telegram, because the French authorities didn’t receive responses from Telegram.
This was surprising for several reasons:
1. Telegram has an official representative in the EU that accepts and replies to EU requests. Its email address has been publicly available for anyone in the EU who googles “Telegram EU address for law enforcement”.
2. The French authorities had numerous ways to reach me to request assistance. As a French citizen, I was a frequent guest at the French consulate in Dubai. A while ago, when asked, I personally helped them establish a hotline with Telegram to deal with the threat of terrorism in France.
3. If a country is unhappy with an internet service, the established practice is to start a legal action against the service itself. Using laws from the pre-smartphone era to charge a CEO with crimes committed by third parties on the platform he manages is a misguided approach. Building technology is hard enough as it is. No innovator will ever build new tools if they know they can be personally held responsible for potential abuse of those tools.
Establishing the right balance between privacy and security is not easy. You have to reconcile privacy laws with law enforcement requirements, and local laws with EU laws. You have to take into account technological limitations. As a platform, you want your processes to be consistent globally, while also ensuring they are not abused in countries with weak rule of law. We’ve been committed to engaging with regulators to find the right balance. Yes, we stand by our principles: our experience is shaped by our mission to protect our users in authoritarian regimes. But we’ve always been open to dialogue.
Sometimes we can’t agree with a country’s regulator on the right balance between privacy and security. In those cases, we are ready to leave that country. We've done it many times. When Russia demanded we hand over “encryption keys” to enable surveillance, we refused — and Telegram got banned in Russia. When Iran demanded we block channels of peaceful protesters, we refused — and Telegram got banned in Iran. We are prepared to leave markets that aren’t compatible with our principles, because we are not doing this for money. We are driven by the intention to bring good and defend the basic rights of people, particularly in places where these rights are violated.
All of that does not mean Telegram is perfect. Even the fact that authorities could be confused by where to send requests is something that we should improve. But the claims in some media that Telegram is some sort of anarchic paradise are absolutely untrue. We take down millions of harmful posts and channels every day. We publish daily transparency reports (like this or this ). We have direct hotlines with NGOs to process urgent moderation requests faster.
However, we hear voices saying that it’s not enough. Telegram’s abrupt increase in user count to 950M caused growing pains that made it easier for criminals to abuse our platform. That’s why I made it my personal goal to ensure we significantly improve things in this regard. We’ve already started that process internally, and I will share more details on our progress with you very soon.
I hope that the events of August will result in making Telegram — and the social networking industry as a whole — safer and stronger. Thanks again for your love and memes 🙏"
/channel/durov/342
The U.K.'s financial regulator said a full 87% of crypto companies that applied for licensing under the country's money laundering rules failed to win approval in its most recent fiscal year.
Only four of the 35 applications received by the Financial Conduct Authority (FCA) managed to qualify in the 12 months ended March 31, it said in its annual report. Among those successfully registering were Binance's payments partner, BNXA, a PayPal U.K. unit and Komainu, a crypto custody joint venture of Nomura. The rest were either refused a license or rejected for lacking key components needed for assessment.
https://www.coindesk.com/policy/2024/09/05/uk-regulator-says-87-of-crypto-registration-applications-failed-to-meet-standards-for-approval/
Cardano-based memecoin launchpad Snek.fun is now live
https://x.com/snekdotfun/status/1831705853260333537
XION is bringing Chain Abstraction to RWAs via Plume.
https://twitter.com/burnt_xion/status/1831700906263409142
The Flow Mainnet network upgrade (Crescendo) is now complete
https://x.com/flow_blockchain/status/1831594036316258678
Oyster Labs announces that universal free upgrade is now live
https://t.co/Yg51PXZZFr
https://x.com/oysterecosystem/status/1830918337821606208
Spot ETF Flow on 4.09: BTC-ETF -$37.29M, ETH-ETF -$37.51M
https://sosovalue.com/assets/etf/us-btc-spot
EigenLayer has announced the EIGEN Season 2 Stakedrop
1. Stakers & Operators: If you staked ETH or EIGEN during Season 2, you’re eligible. Direct stakers claim via the portal once live. LRT users, please check with your respective LRT protocols for your Season 2 Stakedrop rewards and claims process.
2. Ecosystem Partners: Includes eligible AVSs, LRTs, Rollups, RaaS, and other key contributors to the EigenLayer ecosystem.
3. Community: To early advocates, contributors, and projects that have supported EigenLayer since its inception – you’re eligible too.
https://x.com/eigenlayer/status/1831376290357690647
Dimensionals, a roguelike deck-building game developed by Mino Games, has officially transitioned to a purely web2 model.
https://nftplazas.com/dimensionals-shift-to-web2/
Injective is introducing the tokenized index for BlackRock’s BUIDL Fund, a perpetual index product that tracks the supply of the BUIDL fund itself.
https://x.com/injective/status/1831333016343634148
💧 Tokenized Bitcoin Assets by Market Cap
👉 https://dropstab.com/tab/tokenized-btc-0cw749cfe4
The Ronin Bridge is up
The bridge has undergone 2 audits by external parties, which you can find here: https://skymavis.notion.site/Ronin-Bridge-Audits-August-24-24f1e600cfef43b3b293541faf6c2a5e
Use the Ronin Bridge here: https://app.roninchain.com/bridge
https://x.com/ronin_network/status/1831212416132436270
Vitalik Buterin: “I also do not intend to invest into L2s or other token projects in the foreseeable future. My goal with giving projects money is to support things that I think are valuable, especially in cases where other parts of the ecosystem might undervalue them. Going forward, I plan to just do this with donations.”
https://x.com/vitalikbuterin/status/1831796490223907327
Arthur Hayes: “BTC is heavy, I’m gunning for sub $50k this weekend. I took a cheeky short. Pray for my soul, for I am a degen.”
https://x.com/CryptoHayes/status/1831866865846776035
Coinbase has added Moonwell (WELL) to its roadmap.
https://x.com/CoinbaseAssets/status/1831804393965973833
Coinbase will add support for Immutable and Flow perpetual futures on Coinbase International Exchange and Coinbase Advanced.
The opening of IMX-PERP and FLOW-PERP markets will begin on or after 9:30 UTC 12 SEP 2024.
https://x.com/CoinbaseIntExch/status/1831723716012851398
The crypto market correction
BTC Dominance - 55.67%
Market Cap - $2.01T
BTC - $56,644 (-1.01%)
ETH - $2,395.6 (-0.75%)
BNB - $506.3 (+0.2%)
SOL - $131.02 (-0.79%)
XRP - $0.5567 (-1.23%)
TON - $4.83 (+5.75%)
ZRO - $3.23 (+0.9%)
https://dropstab.com
Ethereum Foundation: The long-term sustainable and elegant plan is to use the magic of SNARKs to scale L1 EVM execution, essentially without limits.
With real-time L1 EVM SNARKing attesters can verify cheap SNARKs instead of naively reexecuting EVM transactions. This would allow us to increase the gas limit by orders of magnitude without burdening validators. All the heavy EVM execution would happen outside of consensus by specialised nodes operated by entities like searchers, builders, explorers. Users and consensus participants would have it easy, e.g. running their nodes on phones or watches.
Besides the vertical scaling benefits from dramatically increasing the L1 EVM gas limit, there is an opportunity for arbitrary horizontal scaling using an EVM-in-EVM precompile to cheaply verify EVM execution within the EVM. This precompile would allow developers to programmatically spin up new L1 EVM instances, unlocking a supercharged version of execution sharding where the number of shards is unbounded (rather than capped to 64 or 1024 shards) and individual shards are programmable rollups (with programmable governance, sequencing, gas) known as "native rollups".
https://www.reddit.com/r/ethereum/comments/1f81ntr/ama_we_are_ef_research_pt_12_05_september_2024/
Andrei Grachev: “Just finalized design of our synthetic stablecoin, it will support the following collaterals with different APY:
- USDt, USDc, DAI, USDe
- BTC/ETH
- Blue chips (limited list)
- Long Tail alts (limited list)
Stay tuned, something huge is coming
Cheers”
https://x.com/ag_dwf/status/1831647454862651837
Aleo has announced token distribution details
You are eligible to claim Aleo incentive tokens if you participated and earned rewards in any of the following programs:
Ambassador Program
Setup Ceremony
Testnet 2
- Top 100 Awards
- Credits Mined
- GitHub PRs
- Pool Testers
- Pool Operators
Testnet 3
- Prover Incentives
- Deploy Incentives
Testnet Beta
- Prover Incentives II
ZPrize 2022/2023
zkML Initiative
Enigma
https://aleo.org/post/incentives-program-distribution/
The legal team defending Ripple Labs against a case filed by the United States Securities and Exchange Commission has requested to stay the monetary portion of an Aug. 7 judgment requiring the firm to pay $125 million.
In a Sept. 4 filing in the US District Court for the Southern District of New York, Ripple’s lawyers said the SEC had agreed to a request to delay payment of the judgment after Sept. 6. The legal team proposed that Ripple place 111% of the judgment amount — roughly $139 million — into a bank account until 30 days “after the time to appeal expires or the resolution of any appeal.”
https://cointelegraph.com/news/ripple-sec-stay-court-judgment-appeal
Grass has introduced its checker: https://www.grassfoundation.io/eligibility
Total supply will be 1 billion GRASS tokens, with 10% set aside for the first airdrop.
https://x.com/getgrass_io/status/1831380995058073649
The crypto market is recovering
BTC Dominance - 55.80%
Market Cap - $2.04T
BTC - $57,393.02 (+1.06%)
ETH - $2,431.45 (+2.23%)
BNB - $506.9 (-1.15%)
SOL - $132.26 (+3.52%)
XRP - $0.555 (+0.31%)
TON - $4.6 (-3.6%)
ZRO - $3.21 (-2.11%)
https://dropstab.com
The Sui blockchain is innovating with alternative methods, such as radio waves, to enable offline crypto transactions for unbanked communities, even those without internet access.
https://cointelegraph.com/news/sui-blockchain-offline-crypto-transactions-radio-waves
Crypto Market Capitalization Dropped Below $2 Trillion
The Market Cap is now $2T
https://dropstab.com/
Polygon developers have migrated the MATIC token to POL
POL is now the new ticker symbol for the native gas and staking token on the Polygon PoS chain.
https://www.theblock.co/post/314595/polygon-developers-transition-matic-token-to-pol