Daily Legal News: Optimism launches third round of airdrops; Grayscale announces abandonment of ETHW token rights.
Selected News:
1. Musk is considering charging all Twitter users a platform usage fee;
2. Optimism has launched the third round of airdrops, directly distributing over 19.41 million OP tokens to 31,870 addresses.
3. Grayscale announced the abandonment of ETHW token rights;
4. A Bitcoin whale that has been dormant for nearly 6 years transferred nearly 2100 BTC, with a floating profit of over $44.5 million.
5. Bloomberg: The US SEC failed to convince a judge to immediately launch a thorough investigation into Binance.US.
Project Updates
马斯克考虑向所有 Twitter 用户收取平台使用费 translates to:
Musk considers charging all Twitter users a platform usage fee.
According to The Information, Musk said during a live broadcast with Israeli Prime Minister Netanyahu on Monday that social platform X (formerly Twitter) will start charging users a small fee each month to combat bots and spam on the platform. It is unclear whether Musk's comments on Monday reflect the company's active efforts or if it was just an impromptu statement from the billionaire who is known for his unpredictability.
Ethereum Layer 2 scaling solution Optimism has announced that the third airdrop has started at 2:10 on September 19th Beijing time, targeting users who delegated their OP voting rights during the snapshot period from 8:00 on January 20, 2023 to 8:00 on July 20, 2023. The total amount of the airdrop is 19,411,313 OP tokens, which will be directly distributed to 31,870 unique addresses without the need to interact with any website to claim the tokens.
Citigroup launches deposit tokenization service for institutional clients
According to Bloomberg, Citigroup has launched a deposit tokenization service for institutional clients. The product will be based on a private blockchain controlled by the bank, and customers will not need to set up their own digital wallets, but can access the service through the bank's existing system.Grayscale announces abandonment of ETHW token rights
Grayscale announced that as of the close of business on September 26, 2022, holders of shares within the record date for each product have irrevocably waived all rights to the ETHW (ETHPoW) allocated to such record date share holders. Grayscale stated that after thorough review and consultation with product service providers, the product custodian does not support the ETHPoW token and there is no meaningful liquidity venue developed for the ETHPoW token. Therefore, the rights to purchase and sell ETHPoW tokens cannot be exercised and Grayscale represents that record date share holders have waived their rights to these assets. BlockBeats previously reported that on September 16, 2021, according to an official announcement, Grayscale's ETHE and GDLC funds passively received approximately 3.1 million ETHW airdrop tokens and will seek to sell these tokens within feasible range and distribute the net cash proceeds to relevant shareholders.
Data
A certain whale spent 9.92 million USDT last night to purchase 5,997 ETH.
According to the on-chain data analyst Yu Jin, a whale address purchased 5,997 ETH with a total cost of 9.92 million USDT during the period from 8-12 pm last night, with an average price of 1,655 US dollars per coin.friend.tech "Keys" price ranking: founder Racer Key ranks first with 7.09 ETH
friend.tech "Keys" price ranking list latest data shows:
· The platform founder Racer ranked first with 7.098 ETH;
· Cryptocurrency KOL Vombatus ranked second with 5.513 ETH;
· Crypto KOL Hsaka ranked third with 4.83 ETH;
· Cryptocurrency KOL CL ranks fourth with 4.064 ETH;
· Crypto KOL Herro ranks fifth with 3.906 ETH.
The Ethereum ICO participation address deposited 6000 ETH into Kraken 50 minutes ago.
CoinShares: Net outflow of $53.5 million from digital asset investment products last week
According to the CoinShares report, the total net outflow of funds for digital asset investment products last week was $53.5 million, with 8 out of the past 9 weeks experiencing net outflows totaling $455 million. This week, Bitcoin investment products saw a net outflow of $45.3 million, Ethereum investment products saw a net outflow of $4.8 million, and investment products shorting Bitcoin saw a net outflow of $3.8 million.
Funding
According to The Block, Blockchain Capital, a San Francisco-based venture capital firm in the cryptocurrency industry, has raised $580 million for two new cryptocurrency investment funds. These two funds are the sixth early-stage venture fund and the first opportunity fund of Blockchain Capital, with payment giant Visa being one of the companies providing funding. According to the announcement, the company focuses on investing in cryptocurrency startups that specialize in infrastructure, gaming, DeFi, consumer, and social fields.
The blockchain data visualization company Bubblemaps has completed a $3.2 million seed round of financing, led by INCE Capital, with participation from Stake Capital, Momentum 6, Lbank, V3ntures, Nicolas Bacca of Ledger, Dyma Budorin of Hacken, and French entrepreneur Owen 'Hasheur' Simonin. Bubblemaps plans to use the funds to expand its team and accelerate growth, particularly by hiring more developers and strengthening the company's marketing efforts on social media platforms. (The Block)
Regulation
According to Bloomberg, the US Securities and Exchange Commission (SEC) failed to convince a federal judge to allow officials to immediately launch a deep investigation into Binance.US's software. The SEC stated that it has been difficult to obtain information from Binance.US since it sued Binance.US and CZ in June of this year. On Monday, the SEC requested that federal judge Zia Faruqui allow it to inspect Binance.US's technical infrastructure and force the company to share other necessary information. The judge stated that he is currently not inclined to allow the investigation to proceed, and that the SEC should make more targeted requests and speak with more witnesses.
The US SEC and Binance.US holding company BAM will hold a hearing on October 12th.
According to The Block, a Washington D.C. judge has encouraged Binance and the U.S. Securities and Exchange Commission (SEC) to collaborate and provide more information on how Binance.US handles customer assets. Binance.US holding company BAM stated that the SEC's request for documents is "overly broad and burdensome." The SEC and BAM have agreed to hold a hearing on October 12th and submit a joint status report by October 10th.
According to the proposed updated guidelines released by the New York Department of Financial Services on Monday, cryptocurrency listings will face stricter restrictions, especially if they are targeting retail investors. Based on the advisory opinion put forward by Adrienne Harris, Superintendent of the New York Department of Financial Services, licensees need to assess the legal, reputational, and market risks of any new tokens, and to mitigate these risks, licensees must also develop corresponding token delisting procedures. In addition, the regulatory agency has also listed a charter list in this updated guideline, stating that Bitcoin, Ethereum, as well as stablecoins issued by PayPal and Gemini can be listed without further regulatory obstacles. (CoinDesk)
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