Selected News:

1. Polkadot ecosystem development organization Parity Technologies denies rumors of layoffs and states that personnel changes will occur in the coming months;

2. Coinbase announced the suspension of pUSDC withdrawal services, while pUSDC deposit services remain operational.

3. Lido: The root cause of this confiscation event has been confirmed, and the Launchnodes team has covered all validator losses with their own funds.

4. Terraform Labs: Market maker Citadel Securities may have potential connections with UST detachment;

5. Layer 1 blockchain Initia received funding support from Binance Labs in the pre-seed round of financing.

Project Updates

Arca initiated a proposal to discuss the Blur transaction fee switch, which is intended for the repurchase and destruction of BLUR.

Investment firm Arca has initiated a proposal to discuss the Blur transaction fee switch, which will add a 1% basic transaction fee to the Blur market protocol. The proposal suggests using these fees for daily systematic repurchase and destruction of BLUR. In addition, Arca has proposed a tiered fee structure that provides fee discounts for users holding BLUR.

The blockchain game AbyssWorld claims that its investment firm, Chainhill Capital, has defaulted, and will unlock the AWT token for investors ahead of schedule.

The community administrator of the blockchain game AbyssWorld announced that "In order to ensure the funds needed for game development, we have decided to postpone the SUI airdrop for Gazer this month. We have encountered long-term deception, and our early major investor Chainhill Capital has experienced a thunderstorm problem, and the investment funds for AbyssWorld and other games have not been received. AbyssWorld has been in arrears for more than half a year, and we have expanded the team as planned but consumed more cash reserves than planned."

FT Simulation Platform Stars Arena's fund recovery rate has exceeded 87%, and will receive bridge loans from private investors.

FT Replica Stars Arena will use funds recovered from the attack to fill the funding gap. Currently, the gap is 274,333 AVAX, and 239,493 AVAX has been filled, with a fund recovery rate of 87.30%. All income generated to date will be added to the recovered funds. In addition, a bridging loan from a private investor group will be obtained to fill the gap.

Parity Technologies, the Polkadot ecosystem development organization, denies rumors of layoffs and states that personnel changes will occur in the coming months.

According to The Block, Parity Technologies, a Polkadot ecosystem development organization in the cryptocurrency industry, has denied rumors of layoffs exceeding 300 people this week. However, the company is seeking to transfer some of its existing functions to multiple teams within the decentralized ecosystem of Polkadot, which will indeed affect its personnel configuration. Any personnel changes related to the transition to various ecosystem funding entities will occur within a few months.

Coinbase announced the suspension of pUSDC withdrawal service, while pUSDC deposit function remains normalAccording to official sources, Coinbase has announced the suspension of pUSDC withdrawal services. The pUSDC deposit function is still available (only supporting the native version of USDC on Polygon, with some expected delays).

FTX Prosecutor: SBF's behavior was too extreme when his ex-girlfriend Caroline testified, which has had an impact on the witness

BlockBeats News, October 12th. According to Fortune's report, during the SBF case trial, US prosecutor Danielle Sassoon told Judge Lewis Kaplan that SBF showed "laughter, obvious shaking of the head, and ridicule" during the testimony of former Alameda Research CEO Caroline Ellison.

Danielle Sassoon said that she has not yet communicated with the witness (Caroline), but this may have a significant impact on her, especially considering their history, SBF had previously threatened her, and their power and romantic relationship. She hopes that SBF can control his behavior in court.

Related reading: "SBF's secret game behind Bitcoin price fluctuations: Why did he want to control BTC below $20,000?"

CoinList launches multi-chain staking fund for US compliant investors

According to The Block, CoinList is launching a new fund that will allow compliant US investors to earn returns from staking various digital assets, including Ethereum and Near. CoinList's new financial tool initially only supports staking for Ethereum and Near. In the future, the company plans to add support for other blockchain staking, such as Flow, Sui, and Mina.

Lido: The root cause of this confiscation event has been confirmed, and the Launchnodes team has covered all validator losses.

Lido Finance's official social media post stated that, after an all-night effort by the Launchnodes team, the situation has stabilized and the rest of the validator infrastructure is slowly being restored. The root cause of the penalty incident has been identified, but small details are still under investigation.

Currently, the total amount of confiscated funds is 20.04 ETH, which is expected to increase to 23.06 ETH by the time of withdrawal. The total amount of penalties for infrastructure shutdowns and missed rewards (excluding EL rewards) is 5.663 ETH (including penalties for validators). The Launchnodes team immediately expressed their willingness to compensate stakers as soon as possible, and therefore paid out 25.663 ETH before today's rebase. This means that stakers will not see a reduction in daily rewards due to interruptions and cuts.

Related reading: "New developments in the incident: Lido confirms reasons for penalty, Launchnodes team has taken responsibility for all validator losses".

Viewpoint

Terraform Labs: Market maker Citadel Securities may have a potential connection with UST decoupling

According to Blockworks, Terraform Labs has filed a motion with the court requesting that market maker Citadel Securities "provide certain data pursuant to a third-party subpoena," stating that this is "critical" to its defense in the lawsuit filed by the US SEC.

The motion states that Terraform Labs has issued subpoenas to Citadel Securities and Citadel Enterprise Americas regarding transaction data related to "the May 2022 anchor detachment". Terraform points out that publicly available evidence suggests that Ken Griffin, the head of Citadel entities, intends to short UST before and after the May 2022 anchor detachment.

Terraform states that Nansen's data helped them find "seven so-called 'whales' who have the ability and determination to long or short an asset or financial instrument." In addition, the data also shows that "a few participants discovered vulnerabilities in UST's early unanchoring."

Developer: BitVM aims to expand Bitcoin, not imitate Ethereum

According to Super Testnet, a Bitcoin developer, BitVM aims to expand Bitcoin rather than launch decentralized finance applications similar to Ethereum on the network.

The white paper of BitVM was released on October 10th by Robin Linus, the project leader of ZeroSync, and was supported by an anonymous developer named Super Testnet. The first proof of concept implementation of BitVM was carried out and efforts were made to expand its functionality. After its release, some industry experts believe that BitVM will bring DeFi to Bitcoin, just as the Ethereum Virtual Machine (EVM) did for Ethereum.

Super Testnet indicates that building a decentralized trading platform on Bitcoin would be a "regression". BitVM focuses on scalability rather than implementing smart contracts and issuing a large number of altcoins. The real killer application is to scale Bitcoin. In addition, BitVM can fix a flaw in the Lightning Network.

Data

FalconX once again withdraws 1.23 million LDO worth $1.86 million from Binance

According to Lookonchain's monitoring, cryptocurrency broker FalconX has again withdrawn 1.23 million LDO worth $1.86 million from Binance today. In the past 5 days, FalconX has withdrawn a total of 6.48 million LDO (approximately $9.8 million) from Binance.

The overall CPI in the United States remains unchanged, and the core CPI continues to decline

In September, the unadjusted CPI annual rate in the United States was recorded at 3.7%, while the unadjusted core CPI annual rate was recorded at 4.1%. This marks the smallest increase since September 2021 and has been declining for six consecutive months. The adjusted CPI rate for September recorded a monthly rate of 0.3%, which also fell from the previous month. (Jin10)

GSR withdrew 5.17 million HFT from Binance again 1 hour ago, accumulating 20% of the circulating supply of HFT

According to Look on Chain data, GSR withdrew 5.17 million HFT coins, equivalent to approximately 1.53 million US dollars, from Binance one hour ago. It is reported that GSR currently holds 41.7 million HFT coins, equivalent to approximately 12.5 million US dollars, which accounts for 20% of the circulating supply.

0x20c starting address has accumulated about 5 million EDU in the past week.

According to The Data Nerd, as of October 5th, addresses starting with 0x20c have withdrawn approximately 5 million EDU tokens (equivalent to approximately 2 million USD) from Binance, with an average price of 0.406 USD.

Funding

Account Labs has completed a $7.7 million financing round, led by Amber Group.

According to Decrypt, Singaporean cryptocurrency wallet service provider Account Labs has completed a $7.7 million funding round led by Amber Group, MixMarvel DAO Ventures, and Qiming Venture Partners. The strategic investment was announced alongside the launch of UniPass Wallet, a consumer-focused application that specializes in peer-to-peer (P2P) stablecoin transfers.

Layer 1 blockchain Initia receives funding support from Binance Labs in pre-seed round

According to The Block, developers of Layer 1 network Initia announced today that they have received pre-seed investment from Binance Labs. The specific amount of funding and more details have not been disclosed. Initia is developed using the Cosmos software development kit (SDK), but it will utilize a computing framework called MoveVM based on the Move smart contract language.

Regulation

美 CFTC 起诉 Voyager 前 CEO Stephen Ehrlich

Translation:

The US CFTC sues former Voyager CEO Stephen Ehrlich

The US CFTC has sued former Voyager CEO Stephen Ehrlich, accusing him of fraud and registration errors in the operation of the Voyager digital asset platform and unregistered commodity pools. Ehrlich and Voyager falsely touted the Voyager platform as a "safe haven" to earn high returns, inducing customers to purchase and store digital asset commodities.

In the ongoing lawsuit against Ehrlich, the CFTC is seeking restitution, forfeiture of illegal gains, civil penalties, permanent trading and registration bans, as well as permanent injunctions against further violations of the Commodity Exchange Act (CEA) and CFTC regulations.

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