Selected News:

1. FTX debtor has reached a proposed settlement regarding customer asset disputes;

2. Binance will temporarily suspend new UK users starting from 5:00 PM on October 16th (UK time).

3. TrueUSD customer data has been leaked due to a third-party security vulnerability. The official reminds users to be vigilant against phishing attacks.

4. "ETF Approved" confirmed to be false news, Bitcoin continues to fall below $28,000.

5. In the past hour, the entire network has experienced a liquidation of nearly 100 million US dollars.

Project Updates

FTX debtors have reached a proposed settlement regarding customer asset disputes.

FTX announced that after extensive discussions with the Special Committee for Non-U.S. Customers, the Unsecured Creditors Committee, and the Class Action Plaintiffs, the FTX debtor has reached a proposed settlement regarding customer asset disputes. If approved by the bankruptcy court, the settlement will create a special "differential claim" to benefit customers, as proposed by the FTX debtor in July, and facilitate offers to eligible customers at agreed-upon amounts. All relevant creditor representatives have agreed to support the related amended restructuring plan to be submitted on December 16, 2023.

Uniswap will charge a fixed fee of 0.15% for 11 tokens traded through the official front-end

According to an official announcement, Uniswap will start charging a 0.15% exchange fee for certain tokens in its web application and wallet starting from October 17th. These tokens include: ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD. The fees will only be charged when trading these tokens through the Uniswap Labs interface on the mainnet and L2, in order to sustain Uniswap's operations. Fees will only be charged for exchange transactions where both the selling and buying tokens require fees.

The exchange from one stablecoin to another stablecoin is not included in this fee. The wrapped transaction between ETH and WETH is also not included in this fee. Uniswap states that the above fees are separate from the Uniswap protocol fee switch, which is determined by Uniswap governance voting. Uniswap Labs is committed to providing a simple and transparent pricing strategy.

Manta Pacific will migrate from Optimism to Polygon's zkEVM Layer 2 technology

Manta Network's zero-knowledge application Layer 2 blockchain, Manta Pacific, announced that it will migrate from Optimism's OP Stack to Polygon's Chain Development Kit. This move aims to provide developers and users with the best experience, ensuring faster transaction confirmations, enhanced security, and wider interoperability with Ethereum.

Manta Pacific's mainnet alpha version was only released last month, but the Layer 2 has quickly migrated to become a zkEVM validium. Polygon's CDK will provide a fast and smooth migration channel for Manta Pacific, while leveraging its proven powerful system for deploying zkEVM.

Binance will temporarily suspend new UK users starting from 5 pm on October 16th UK time.

According to an official announcement, Binance will temporarily restrict its platform as its partner FCA authorized company, Rebuildingsociety.com Ltd ('REBS'), is subject to new legal constraints. Starting from 5 pm UK time on October 16th, Binance will stop accepting new UK users and ensure all risk warnings are in place.

Existing UK users will retain access to current available services (provided they have completed the investor declaration and appropriateness test), but no new products and services will be offered during this transition period. Binance has stated that it is working closely with the FCA to ensure that users are not impacted by these developments and to find a suitable FCA authorized firm to approve its financial promotions as soon as possible.

TrueUSD customer data has been leaked due to a third-party security vulnerability, and the official reminds users to be vigilant against phishing attacks.

According to The Block, TrueUSD recently suffered a third-party security breach, resulting in the personal identity information of some customers being leaked. The leaked information includes customers' names, email addresses, phone numbers (for users registered between 2018-2019), as well as customers' addresses, dates of birth, bank names, transaction history, and blockchain public addresses. This data breach involves TrueUSD's former bank, customer onboarding, and product management service provider TrueCoin.

TrueCoin stated in an email that they have taken swift action to prevent any further unauthorized access and ensured that their internal systems have not been breached. TrueUSD advises customers to carefully monitor their personal accounts for any suspicious activity and to be wary of any phishing attacks. TrueUSD also added that the TUSD system and TUSD reserves have not been affected.

Bloomberg: Hong Kong BC Technology Group plans to sell its digital asset platform OSL for a valuation of HKD 1 billion

According to sources cited by Bloomberg, Hong Kong-based BC Technology Group (00863) is considering selling its digital asset platform OSL, which is one of only two licensed trading platforms under Hong Kong's digital asset regulations introduced in June this year. BC Technology Group has evaluated potential buyers such as industry participants and funds interested in OSL, and has proposed a valuation of HKD 1 billion (USD 128 million).

OSL's business covers the main brokerage, trading, and custody services in the cryptocurrency market, as well as providing virtual asset trading infrastructure for financial institutions. Insiders say that BC Technology may decide to sell part of OSL's business rather than the entire business. The transaction is still under consideration and the final outcome is uncertain.

Bitcoin ETF "mistake"

Related reading: "A fake news worth $100 million that can go down in history".

Cointelegraph: US SEC approves BlackRock's iShares Bitcoin Spot ETF

On October 16th, according to Cointelegraph, the US Securities and Exchange Commission has approved BlackRock's iShares Bitcoin Spot ETF. Note from BlockBeats: Currently, only Cointelegraph has released relevant news, and specific information is still being confirmed. BlockBeats will continue to track and report on this event.

Bitcoin hits $30,000, reaching a new high in nearly two months.

According to OKX market data, Bitcoin has reached $30,000, hitting a new high since nearly two months ago.

Solana ecosystem multi-signature management tool developer Squads Labs completes $5.7 million strategic financing, led by Placeholder VC

The main development company of Solana's multi-signature management tool Squads, Squads Labs, has completed a strategic financing of $5.7 million. Placeholder VC led the investment, with participation from Multicoin Capital, Solana Ventures, Jump Crypto, Solana Labs co-founder Anatoly Yakovenko, Jito Labs CEO Lucas Bruder, and Helius Labs CEO Mert Mumtaz.

Based on opBNB, MyShell, an AI platform, completed a financing of $5.6 million with a valuation of $57 million.

MyShell, an AI platform based on opBNB, announced the completion of a $5.7 million seed round of financing with a valuation of $57 million. INCE Capital led this round of financing, with participation from Hashkey Capital, Folius Ventures, SevenX Ventures, and OP Crypto. Co-founder Ethan Sun stated that earlier this year, MyShell also raised $200,000 in pre-seed financing from friends and the crypto community.

MyShell was launched in May as an AI platform that supports Web3 and allows users to create personalized chatbots called "Shells". The platform is aimed at content creators and consumers - creators can generate AI content bots, and consumers can find and use these bots. When a content bot receives attention, the creator will receive MyShell's native token. Since its launch in May, MyShell claims to have over 30,000 creators and over 400,000 users.

Regulation

美 SEC: Be cautious of information on the internet, the best source of information about the SEC is its official website

The Securities and Exchange Commission (SEC) of the United States has officially stated, "Be cautious of information on the internet. The best source of information about the SEC is the official SEC website."

Genesis is required to respond to subpoenas related to the UST crash within 5 days

A New York court has ordered the encrypted lending and trading company Genesis to comply with a subpoena request within five days, after Genesis failed to respond to a legal request for information related to the 2022 UST stablecoin crash by the October 9 deadline. The failure of UST sent shockwaves through the crypto market, and the Securities and Exchange Commission (SEC) subsequently sued the company behind it, Terraform Labs, and its co-founder Do Kwon, accusing them of misleading investors.

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