Daily Legal News: MakerDAO adds another $191 million in RWA assets; Singapore's largest money laundering case involves assets worth a total of $2.4 billion Singapore dollars.
Selected News:
1. MakerDAO has once again added $191 million in RWA assets, bringing the total RWA assets to over $2.9 billion.
2. dYdX founder: Mainnet is expected to launch in October;
3. Optimism: Has sold approximately 116 million OP tokens to 7 buyers.
4. The total value of assets involved in Singapore's largest money laundering case has expanded to 2.4 billion Singapore dollars, with 38 million Singapore dollars worth of cryptocurrency being seized.
5. Freatic has completed a $3.6 million seed round of financing, led by a16z Crypto.
6. Data: Bitcoin OTC trading volume has dropped to historical lows, comparable to the end of 2018.
Project Updates
MakerDAO increases RWA assets by another $191 million, with total RWA assets exceeding $2.9 billion
According to Makerburn data, MakerDAO has once again increased its RWA assets by $191 million in the past two days through Monetalis Clydesdale and BlockTower Andromeda. Of this, $97 million in RWA assets were added through Monetalis Clydesdale and $94 million in RWA assets were added through BlockTower Andromeda. In addition, the total RWA assets of the protocol currently exceed $2.9 billion.Snapshot governance interface shows that the proposal initiated by "Brother Maji" Huang Licheng to purchase Yuga assets with 11 million APE has been approved with a 64.92% approval rate. The community will use 11 million APE to purchase Yuga assets, including NFTs such as BAYC, MAYC, BAKC, and CryptoPunks, for exhibition and donation to art institutions to enhance the global dissemination of digital art. The APE distribution mechanism will be jointly determined with the APE Foundation. It is reported that ApeCoin DAO also plans to launch governance token DAM for selecting and managing NFT collections. 30% of DAM will be distributed to ApeCoin stakers within five years, and 70% will be allocated to the treasury, to be decided by token holders' vote.
VeChain Foundation launches decentralized self-custody wallet VeWorld mobile appAccording to an official announcement, the VeChain Foundation has launched a mobile version of its decentralized self-custody wallet, VeWorld, and added native NFT viewing functionality.
PayPal's Venmo wallet will launch PYUSD
According to The Block, Venmo, a social payment platform owned by PayPal, will launch the PayPal USD stablecoin (PYUSD). In a press release, PayPal stated that its ERC-20 stablecoin will be available for purchase in the "coming weeks," and users will be able to buy PYUSD through PayPal, Venmo, or compatible external wallets and send it to others.According to CoinDesk, Vivek Ramaswamy, the Republican presidential candidate, gave a speech at the Mainnet crypto conference hosted by Messari on Wednesday, stating plans to release a "comprehensive crypto policy framework" before Thanksgiving. In a fireside chat with Messari CEO Ryan Selkis, Ramaswamy discussed the recent SEC ruling and the role of cryptocurrencies as disruptors of traditional finance, and strongly criticized the SEC. According to a CNN poll released on Wednesday, Ramaswamy is second only to Trump in the nomination race, ahead of Florida Governor Ron DeSantis.
Optimism: has sold approximately 116 million OP tokens to 7 buyers
According to the official announcement from Optimism, the company has conducted a private token sale of approximately 116 million OP tokens (approximately $162.4 million) to seven buyers for the purpose of fund management. These tokens have a lock-up period of two years, during which buyers can delegate the tokens to unrelated third parties for governance participation. Optimism also stated that these tokens come from the unallocated portion of the OP token treasury, which is part of the foundation's original operational budget and accounts for 30% of the initial supply; there will be multiple OP transactions starting today, which are planned to inform the community in advance.Base announces the introduction of the ecological security monitoring system Pessimism.
Coinbase's Layer 2 network Base has announced the introduction of an open-source monitoring system called Pessimism for the Optimism ecosystem, which can identify protocol threats and security vulnerabilities specific to networks created using the OP stack and other EVM-compatible chains. The Pessimism system includes three main subsystems: the ETL subsystem, the risk engine, and the alert system, which together can parse, analyze, and flag potential security issues.
Coinbase will list VARA (Vara Network)
According to official sources, Coinbase will add support for Vara Network on the Vara network. Trading is expected to begin later today if liquidity conditions are met. Once the asset supply is sufficient, trading on the VARA-USD trading pair will be phased in.dYdX Founder: Mainnet Expected to Launch in October
dYdX founder Antonio Juliano said in an interview with Coindesk that the dYdX mainnet was originally scheduled to launch at the end of September, but was later postponed and may be launched in early to mid-October. The platform is almost fully built and is currently in the final testing phase.
UniSat: brc20-swap will enter the early public testing phase on September 26thAccording to official sources, UniSat has announced that brc20-swap will enter the early public testing phase on September 26th. Over 400 invitation inscriptions have been distributed for free to its community members today, and an additional 200 invitations will be issued from time to time in the coming days.
Consensys announced the launch of the Web3 Fellowship program.
According to official sources, Consensys has announced the launch of the Web3 Fellowship program, aimed at finding the best Web3 builders to unleash the collaborative power of the community, making Web3 universally easy to use, access, and build. The Fellowship program will select and support 15 startups over a period of 12 weeks, with a total prize pool of $1.5 million.friend.tech has launched a web version.
According to official sources, friend.tech has launched a web version, allowing users to access friend.tech through their browser.SEC
The Chairman of the Federal Reserve, Powell, said that any decision regarding future interest rate cuts will be based on economic needs. It is a good thing for the economy to remain stable under interest rate hikes. If the economy performs better than expected, it means that we will have to take more measures to reduce inflation. The recession caused by interest rate hikes "is always a concern." (Jinshi)
Powell: We have gone very far and very fast in terms of raising interest rates
The Chairman of the Federal Reserve, Powell, stated that economic growth has been stronger than expected, which requires higher interest rates. The recent three inflation data have been very good. We are clearly aware that we need more than three good data points. We have gone very far and very fast in terms of raising interest rates. (Jinshi)
Powell: Soft landing is the primary goal of FOMC
The Chairman of the Federal Reserve, Powell, stated that a soft landing is the primary goal of the FOMC. The best thing we can do for everyone is to restore price stability. Predictions are highly uncertain. (Jinshi)
Powell: Never Intended to Signal Any Time for Interest Rate Cuts
The Chairman of the Federal Reserve, Powell, stated, "I never intended to signal any time for a rate cut. We will have the opportunity to cut rates at the appropriate time." The decision to cut rates may be partly due to rising real interest rates as inflation is declining. (Jin10)
Powell: Will not consider soft landing as a basic expectation
The Chairman of the Federal Reserve, Powell, stated that a soft landing is not considered a basic expectation. "We have always believed that there is a feasible path to achieve a soft landing. We do not want to weaken the possibility of a soft landing." (Jinshi)
Powell: Interest rates are very close to the target that needs to be achieved
The Chairman of the Federal Reserve, Powell, stated: "We are very close to the target we believe we need to reach. I will not attach too much importance to a potential interest rate hike." (Jinshi)
Powell: If appropriate, the Federal Reserve is prepared to further raise interest rates
Fed Chairman Powell said: "The Fed expects core PCE to rise 3.9% YoY in August; given the progress we have made, the FOMC has decided to maintain interest rates. We will make decisions gradually at each meeting and, if appropriate, be prepared to further raise rates. Keeping rates unchanged does not mean we have reached the restrictive stance we are seeking. The Fed has not made a decision on whether interest rates are sufficiently restrictive." (Jinshi)
According to the data, the Fed's repo market has reduced the possibility of interest rate cuts in 2024, and traders have postponed the first interest rate cut to September next year. (Jinshi)
"Federal Reserve megaphone": Two rate cuts expected in 2024
The Wall Street Journal reporter Nick Timiraos, known as the "Fed Whisperer," wrote that according to the median projection in the dot plot, there are expected to be two interest rate cuts in 2024. (Jin10)
Federal Reserve FOMC Statement: Most officials expect one more rate hike this year
According to the statement from the Federal Open Market Committee (FOMC) of the Federal Reserve, 12 officials expect to raise interest rates once this year, while 7 officials expect to keep them unchanged. (Jinshi)The Federal Reserve keeps the benchmark interest rate unchanged at 5.25%-5.50%
The Federal Reserve kept its benchmark interest rate unchanged at 5.25%-5.50%, in line with market expectations. In addition, the dot plot shows that the median expected federal funds rate for the end of 2023 to 2025 is 5.6%, 5.1%, and 3.9%, respectively (compared to June expectations of 5.6%, 4.6%, and 3.4%), and 2.9% by the end of 2026, with a long-term rate of 2.5%. (Jin10)
The US House Financial Services Committee approves bill to ban the issuance of CBDC
According to CoinDesk, the US House Financial Services Committee has approved a bill aimed at preventing the issuance of a central bank digital currency (CBDC) in the United States. The bill will now be reviewed by the House of Representatives. The bill aims to prohibit any CBDC pilot projects, ban the Federal Reserve from issuing retail digital currencies that can be used for citizen monitoring, and require government-supported tokens to obtain explicit authorization from Congress before making any progress. Patrick McHenry, chairman of the US House Financial Services Committee, said the bill will ensure that "any US CBDC must obtain explicit authorization from Congress" and "protect the privacy of Americans and our financial system from the risks that CBDCs may bring."
Viewpoint
MistTrack from SlowMist announced on social media that Coinbase Wallet has recently integrated with the Web3 messaging network protocol XMPT. As long as a user's wallet address opens the messaging network, they may receive any information sent through the messaging protocol. SlowMist has discovered that many attackers are using this feature to send phishing links to wallet users. We remind relevant wallet users to be vigilant and not click on unknown links.
DefiLlama founder 0xngmi stated on social media that "Currently, friend.tech and all forked versions store users' keys on the front end, so it is possible to steal users' keys or all funds through front-end updates. Some people may not store the complete key on the front end, but they have the key in the front-end memory, so they are vulnerable to supply attacks in any case."
Data
NFT project "Pudgy Penguins" floor price rises to 4.657 ETH, with a 24-hour increase of 10.9%
According to the market data from Blur, the floor price of the NFT project "Pudgy Penguins" has risen to 4.657 ETH, with a 24-hour increase of 10.9%. In addition, the 24-hour trading volume of this NFT series has reached 271.9 ETH, equivalent to approximately 441,000 US dollars.
After the monetary policy press conference, Bitcoin fell by 0.766% and Ethereum fell by 0.920%.
After the Federal Reserve Chairman Powell's monetary policy press conference, the price of Bitcoin fell 0.766% compared to before the conference, and the price of Ethereum fell 0.920% compared to before the conference.
Data: Bitcoin OTC trading volume has dropped to historical lows, comparable to the end of 2018
According to Glassnode data, in the past 30 days, OTC desk Wallet has only had an average of 11 transactions per day, equivalent to an annual transaction volume of 4,015. Elindinga, the research director of 21.co, the parent company of ETF issuer 21Shares, said that the last time such a low level was seen was in November 2018, and it seems that the market has not yet begun a large-scale fundraising phase.
Funding
Freatic completed a $3.6 million seed round financing, led by a16z Crypto
According to The Block, decentralized information market protocol Freatic has completed a $3.6 million seed round of financing, led by a16z Crypto, with participation from Anagram, Archetype, Not3Lau Capital, Robot Ventures, and Arweave. Angel investors include Stefano Bernardi, Meltem Demirors, Stephane Gosselin, Jutta Steiner, and MacLane Wilkison.
Regulation
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