Golden Morning News | Three more people were arrested in the JPEX case and the number of arrests increased to 15

Headlines

▌****3 more people were arrested in the JPEX case, bringing the number of arrests to 15

The virtual asset trading platform JPEX was suspected of fraud, and three more people were arrested, bringing a total of 15 people arrested so far. According to sources, the arrested persons include a female employee of Unicoin, an over-the-counter currency exchange shop, a 29-year-old “Xiang Xiang” who is active on social platforms, and a 23-year-old male person in charge of Lupin, another over-the-counter currency exchange shop.

The police stated that as of 5 p.m., they had received reports from 2,407 victims, involving a total amount of approximately NT$1.499 billion. They did not rule out the arrest of more people, and would continue to contact those involved to provide information to assist in the investigation.

Quotes

As of press time, according to coinmarketcap data:

BTC’s recent transaction price was US$26,381.3, with an intraday increase or decrease of +0.31%;

ETH’s recent transaction price was US$1,598.8, with an intraday increase or decrease of -0.19%;

BNB’s recent transaction price was US$212.04, with an intraday increase or decrease of -0.12%;

XRP’s recent transaction price was US$0.4990, with an intraday increase or decrease of -0.51%;

DOGE’s recent transaction price was US$0.0605, with an intraday increase or decrease of -0.20%;

ADA’s recent transaction price was US$0.2446, with an intraday increase or decrease of +0.20%;

SOL’s recent transaction price was US$19.13, with an intraday increase or decrease of +0.97%.

policy

▌The US Department of Justice opposes the “temporary release” of SBF

The U.S. Department of Justice said in a court filing on September 28 that the latest move to temporarily release Sam Bankman-Fried, even with strict restrictions, should be rejected. SBF’s lawyers asked that SBF be released and said he agreed to be guarded outside the court and prohibited from using any electronic devices such as laptops or mobile phones.

The DOJ said the proposed conditions did not meet the legal requirements for the defendant, saying: “Based on the record affirmed by the circuit court, defendant’s general assertions that his detention would inconvenience him simply do not outweigh the dangers of his release.”

Judge Lewis Kaplan has scheduled a hearing on the matter for Thursday at 10:00 a.m. ET.

▌SEC Begins Consideration of Franklin Templeton and Hashdex’s Crypto ETF Application

Bloomberg analyst James Seyffart said in his tweet that the U.S. Securities and Exchange Commission (SEC) has accepted (acknowledged) CBOE & Franklin Templeton’s Bitcoin ETF filing, as well as Hashdex’s Ethereum ETF filing, which means The SEC began considering these two ETF applications.

Analysts said that it usually takes about 1-2 weeks from filing 19b-4 to SEC acceptance, but Franklin Templeton only filed 19b-4 yesterday, which may be based on concerns about a potential U.S. government shutdown.

▌SEC Chairman: Cryptocurrency tokens are not currencies and do not meet the three functions of currencies

U.S. Rep. Al Green asked SEC Chairman Gary Gensler during a hearing on Wednesday whether he believed the United States could have a properly regulated digital currency.

Gensler responded: “I think the U.S. dollar is pretty strong and we already use it as a form of digital dollar. Crypto tokens are different in that they are not currencies and do not fulfill the three functions of money: a store of value, a unit of account, or The medium of exchange, maybe one day, but frankly, it’s not going to happen in 2023."

▌Terraform Labs founder Do Kwon opposes SEC’s extradition request

Terraform Labs founder Do Kwon has asked a federal court to deny the SEC’s request to question him in the United States over the collapse of Terra and Luna, a court filing shows.

Documents show Do Kwon’s lawyers objected to any opportunity for Do Kwon to provide testimony to U.S. regulators. Lawyers argued that it was “impossible” to bring Do Kwon to the United States because he remains detained indefinitely in Montenegro, and that he could not provide written testimony to the SEC because it would violate his due process rights under U.S. law.

It is reported that the SEC asked the court last week for permission to question Kwon regarding the Terra/Luna collapse before the October 13 trial deadline.

▌SEC postpones resolution date for ARK 21Shares and VanEck Ethereum ETF to December

The U.S. Securities and Exchange Commission (SEC) said in a new filing that it will delay a decision on the proposed ARK 21Shares Ethereum ETF, with a new resolution deadline set for December 26. It also decided to postpone the resolution date of the VanEck Ethereum ETF until at least December 25.

Golden Finance previously reported that the SEC has postponed the decision on the proposed ARK 21Shares Bitcoin ETF to January 10 next year.

Blockchain Application

▌****IBM, Microsoft and other companies established a post-quantum cryptography alliance

IBM Quantum and Microsoft have formed a consortium with non-profit research institute MITER, British cryptography company PQShield, Google sibling company SandboxAQ and the University of Waterloo to jointly solve the problem of post-quantum cryptography. Post-quantum cryptography (PQC) addresses the potential threats posed by future quantum computers. Current cryptographic schemes rely on mathematical problems to thwart decryption attempts. According to the press release, preparations for the PQC transition include developing algorithm standards; creating secure, reliable and efficient implementations of these algorithms; and integrating new post-quantum algorithms into cryptographic libraries and protocols.

▌The number of Ethereum relays drops to 4, triggering centralization concerns

Following Blocknative’s decision to discontinue its MEV-boost relay earlier this week, only four relays remain active on the Ethereum network at press time, with over 90% of Ethereum transactions now being handled by just four block builders processing, raising concerns about centralization.

According to data compiled on mevboost.pics, 93% of Ethereum blocks created in the past 14 days used MEV-boost. Relayscan.io data shows that before Blocknative stopped its MEV-boost, five entities were responsible for relaying 98% of MEV boost transactions. Elias Simos, CEO of Ethereum data platform Rated, said he is conflicted about the future of Ethereum as it continues to rely on its four major relayers.

▌Data: Users have minted over 52 million compressed NFTs on Solana

Austin Federa, director of strategy at the Solana Foundation, tweeted that six months after launch, users have minted more than 52 million compressed NFTs (compressed NFTs) on Solana, and the number of holders has more than doubled. This compression isn’t just about NFTs, engineers across the ecosystem have designed it to work with accounts as well.

▌**Chainlink CEO: Most cross-chain bridges are “absolutely unsafe”

Chainlink CEO Sergey Nazarov said most cross-chain bridges are “absolutely unsafe.” Decentralizing bridge infrastructure is particularly difficult, Nazarov explained. This is because, unlike forked blockchains, where developers can benefit from inventions from security research, bridges are not blockchain-based systems themselves.

“They are a new invention, and so far, no one has invented a secure method of bridging,” he said. “Most bridges are single servers that transfer information and value between two chains, which is absolutely unsafe.” As an alternative, Nazarov envisions a cross-chain communication platform that would be run by multiple independent networks that could also respond dynamically to risks.

▌****Infura: Starknet Goerli 2 testnet will be deprecated on October 2

Blockchain development toolkit Infura stated on the Using the Starknet Goerli API endpoint.

▌****Monad released a proof-of-stake blockchain technical document, revealing that the name of the token is mon

Monad Labs released technical documentation for its upcoming proof-of-stake blockchain, detailing that its native token would be named mon, but later removed the token name from the document for unspecified reasons.

It is reported that Monad is a blockchain compatible with the Ethereum Virtual Machine that can handle up to 10,000 transactions per second and has a block time of one second. It claims to have optimized the way Ethereum works to provide greater throughput. The document states: “Monad has greatly improved the performance of EVM-compatible blockchain networks, pioneered multiple innovations and is expected to become an Ethereum standard in the coming years.” Users of the Monad blockchain will use mon tokens to pay for transactions to be included in blocks and for transactions to be executed.

Cryptocurrency

▌****Bloomberg: Kraken plans to launch stock and ETF trading services in 2024

Crypto exchange Kraken plans to launch stock and ETF trading services in 2024, Bloomberg Law reported, citing people familiar with the matter. The company will provide trading of U.S.-listed stocks and exchange-traded funds, which is the first time for the 12-year-old company. Diving outside of the crypto space.

Kraken will initially offer trading in the United States and the United Kingdom through a service established through a new unit called Kraken Securities, according to a person familiar with the matter who asked not to be named. The company already holds the required regulatory licenses in the U.K. and has applied for a broker-dealer license from the U.S. Financial Industry Regulatory Authority, and it aims to launch new services in 2024, the person said.

▌Data: Texas accounts for 28.5% of all U.S. Bitcoin hashing power

According to Foundry’s latest hashrate map, Texas accounts for 28.5% of all U.S. Bitcoin hashrate, followed by Georgia at 9.64%, New York at 8.75%, and New Hampshire at 5.33%. The data was drawn between July 21 and 27, 2023, when Texas faced power curtailments. According to the report, this data means that the hash rate in Texas may be “higher than what is reported on the map.”

Foundry said that overall, Bitcoin’s global hash rate had reached 400 EH/s by July 2023, almost double the rate at the end of 2021, when it was 174 EH/s.

▌Industry executive: Chase UK’s anti-encryption move is ‘ridiculous’ but ‘no big deal’

Several industry executives told Blockworks that Chase UK’s decision to ban customers from cryptocurrency trading is “no big deal.”

Jesper Johansen, founder and CEO of crypto service provider Northstake, said it was a “ridiculous” decision that goes against the country’s crypto policy goals and the efforts of the company’s parent company. Johansen said that firstly, this ban contradicts the stated policy objectives of the British government, which is to create favorable conditions and a supportive environment for crypto companies to establish and expand their services. Secondly, this ban is inconsistent with JPMorgan Chase’s expansion of its bank-dominated zone. The blockchain platform contradicts JPM Coin’s ambitions.

Caspar Sauter, co-founder of decentralized exchange D8X, noted that while Chase UK’s actions follow trends in the banking industry, its approach “contrasts sharply” with those in other European regions, with most European banks expected to Accept digital asset banking services.

******▌**********CoinShares Research Director: Bitcoin and stock correlations will continue to diverge in the coming months

James Butterfill, director of research at CoinShares, told The Block in an interview that as the Federal Reserve’s “long-term interest rate hikes” take root, the correlation between Bitcoin and stocks is diverging.

“A longer period of higher interest rates could be good for Bitcoin but bad for stocks, leading to continued squeeze on corporate margins,” he said.

James Butterfill added that the situation now emerging will “cause the correlation between Bitcoin and stocks to continue to diverge in the coming months, and even a year.”

▌Data: About 70% of Bitcoin has not moved in the past 365 days

Data published by Unchained shows that approximately 70% of Bitcoins have not moved in the past 365 days. Historically, Bitcoin bear markets have ended when investor enthusiasm for buying and selling Bitcoin has evaporated, leaving only strong holders and the price beginning to slowly rise from recent lows. Bitcoin is up 73% from its 2022 lows.

Important Economic Updates

▌****CBOT soybeans rise as rainfall in producing areas is not conducive to harvest

According to foreign media reports, soybean futures on the Chicago Board of Trade (CBOT) closed slightly higher on Wednesday, as rainfall will occur in some major soybean-producing areas, which is not conducive to soybean harvest. The latest 72-hour cumulative precipitation map released by the National Oceanic and Atmospheric Administration (NOAA) shows that the Ohio Valley and parts of Minnesota and Iowa will see rainfall from Thursday to next Sunday, but later in the week. Much of the Corn Belt will remain dry. (Jinshi Data APP)

Golden Encyclopedia

**▌What institutions are we talking about when we say institutions are entering cryptocurrencies? **

We are in the midst of crypto conference season in the United States. So expect widespread discussions of “agencies are coming in” or “what do we need to achieve institutional adoption”. The fundamental problem is that in the United States, the term “institution” often encompasses too much. Institutions can actually include: large-scale asset owners (pension funds, endowments, foundations); asset management companies (such as Fidelity, Van Eck, Franklin Templeton, BlackRock, etc.); banks (JPMorgan Chase, Goldman Sachs, etc.) , Morgan Stanley, etc.); corporations (actually businesses, not real institutions); smaller asset owners (family offices, high net worth individuals).

**Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness. **

Source: Golden Finance