CAKE breaks through $3, Sequoia receives $2.7 billion investment return from Klarna

Headlines

▌Sequoia Capital has received a $2.7 billion return on its investment from the fintech company Klarna

According to The Information, Sequoia Capital first invested in Klarna in 2010. After the fintech company went public this month, its initial $500 million investment generated a $2.7 billion return.

▌CAKE breaks through $3, with a 24-hour increase of 12.7%

Market information shows that CAKE has broken through $3 and is currently priced at $3.05, with a 24-hour increase of 12.7%. The market is volatile, so please exercise proper risk control.

Market

As of press time, according to Coingecko data:

BTC price is $115,629, up or down -0.1% in the past 24 hours;

ETH price is $4,486.72, up or down +0.3% in the past 24 hours;

BNB price is $1057.71, up or down +7.2% in the past 24 hours;

Policy

▌Senior White House official: TikTok US user data will be stored in the United States

According to Bloomberg analyst *Walter Bloomberg, a senior White House official said that TikTok US user data will be stored in the United States on a cloud platform operated by Oracle. Caijing Magazine: In addition to stablecoins, Hong Kong is also conducting various digital currency experiments, which may form a "competitive cooperation pattern." Caijing Magazine published an article titled "Hong Kong's Digital Asset Beachhead: Stablecoins, RWAs, and Digital RMB Multi-Path Competition and Cooperation," which pointed out that in addition to stablecoins, Hong Kong is also conducting a variety of digital currency experiments, including the Digital Currency Bridge Project jointly led by the Hong Kong Monetary Authority and other central banks, and tokenized deposits issued by banks. Many market participants believe that this may form a "competitive cooperation pattern" to a certain extent. In an interview, Qiu Dagen, a member of the Legislative Council of the Hong Kong Special Administrative Region, stated that Hong Kong regulators have provided clear supervision and tracking processes, which allow people to understand the issuance volume of stablecoins and the bank account status of users. Commodities are also seen as an important scenario for the implementation of stablecoins.

▌Canadian police seized crypto assets worth 56 million Canadian dollars

According to market news, the Canadian National Police has just seized digital assets worth 56 million Canadian dollars (about 40 million US dollars) from the TradeOgre platform. This is the largest cryptocurrency seizure in Canadian history.

Blockchain application

▌Coinbase CEO confirmed that it plans to build Coinbase into a super application to replace traditional banks

In an interview with Fox Business, Coinbase CEO Brian Armstrong confirmed that the company's vision is to build Coinbase into a full-service crypto "super application" to replace traditional banks. He plans to offer a full suite of financial services, from payments to credit cards and rewards, all powered by crypto. He stated, "Yes, we do want to be a super app that offers a variety of financial services, and I believe crypto has the power to do that." Cryptocurrency ▌ The TVL of the Real Asset Tokenization (RWA) sector has surpassed $15.7 billion, hitting a new all-time high. According to DefiLlama data, the TVL of the Real Asset Tokenization (RWA) sector has exceeded $15.725 billion, a new all-time high. Among these: · Securitize's TVL reached $2.557 billion; · Ethena's USDtb TVL reached $1.815 billion; · OndoFinance's TVL reached $1.663 billion.

▌MrBeast bought $114,000 worth of Aster tokens

According to Onchain Lens monitoring, MrBeast deposited $114,000 into the exchange to buy Aster tokens.

▌Arthur Hayes: If the US Treasury's TGA account reaches $850 billion, the crypto market will enter a "only rise, no fall" mode

On September 21, BitMEX co-founder Arthur Hayes said that once the US Treasury reaches its goal of injecting $850 billion into the TGA (Treasury General Account), the crypto market will enter a "only rise, no fall" mode. "As the liquidity drought ends, the 'up and down' trend will resume," Hayes wrote, as the opening balance of the Treasury General Account (TGA) surpassed $807 billion. When the Treasury replenishes its general account, the funds are typically segregated and do not flow into private markets. However, not all analysts believe Hayes' prediction that liquidity will flow into financial markets once the Treasury reaches its target. André Dragosch, head of European research at investment firm Bitwise, responded, "However, the correlation between net liquidity and Bitcoin and cryptocurrencies is at best tenuous. In my opinion, it's completely useless." Two whales tripled their long positions on ASTER, each making over $3 million in profits. According to Onchain Lens, as the cryptocurrency ASTER continued to rise, the following are the holdings of two whales, each of whom made a massive profit of over $3 million: Whale "0xebb" made $3.7 million in profits from its triple-long position on ASTER. Whale "0x38e" made $3.09 million in profits from its triple-long position on ASTER. According to Onchain Lens, a whale deposited 7.4 million USDC into HyperLiquid in the past four hours and opened long positions in BNB and XPL. The total market value of tokens in the AI ​​proxy sector fell to US$6.134 billion, a 24-hour drop of 4.0%. According to Coingecko data, the total market value of tokens in the AI ​​proxy sector fell to US$6.134 billion, a 24-hour drop of 2.4%. Among them: AI16Z has fallen 6.0% over the past seven days, with a current market capitalization of $1.679 billion; VIRTUAL has fallen 6.4% over the past seven days, with a current market capitalization of $831 million; IOTX has fallen 9.0% over the past seven days, with a current market capitalization of $239 million. Today's Fear and Greed Index rose to 49, remaining neutral. Today's Fear and Greed Index rose to 49, remaining neutral. Note: The Fear Index threshold is 0-100 and includes the following indicators: Volatility (25%) + Market Volume (25%) + Social Media Activity (15%) + Market Research (15%) + Bitcoin's Representation in the Total Market (10%) + Google Trends Analysis (10%). According to Coinglass data, CEXs saw a net outflow of over 18,000 BTC over the past 24 hours. The top three CEXs by outflow volume were as follows: Coinbase Pro, with an outflow of 14,450.63 BTC; Binance, with an outflow of 2,409.13 BTC; Kraken, with an outflow of 912.89 BTC. In addition, Bitfinex saw an inflow of 99.19 BTC, ranking first on the inflow list.

▌Total on-chain holdings of U.S. spot Bitcoin ETFs exceed 1.3 million BTC

According to Dune data, total on-chain holdings of U.S. spot Bitcoin ETFs have exceeded 1.3 million BTC, currently reaching approximately 1.307 million BTC, accounting for 6.56% of the current BTC supply, and the on-chain holding value has reached approximately US$151.6 billion.

Important Economic Dynamics

▌Simkus: ECB needs to cut interest rates in December to achieve its 2% inflation target

ECB Governing Council member Simkus said that the ECB needs to cut interest rates in December to safely achieve its 2% inflation target. Is Sui the future of the decentralized web? Sui was launched in May 2023 by Mysten Labs, founded by former Meta engineers involved in Facebook's Diem project (formerly Libra). Sui aims to provide a decentralized solution capable of processing large volumes of transactions with minimal latency. One of Sui's standout features is its parallel transaction processing. While other networks like Solana and Avalanche use similar technology, Sui stands out by reducing the complexity of coordination between validators. This simplified approach makes the network more efficient and scalable, maintaining high throughput even under heavy traffic without the bottlenecks that typically plague other blockchains. As part of this, Sui introduces an object-centric model. This not only allows for more granular transaction processing; it also allows digital assets to evolve and change over time, rather than remaining static. This makes the platform well-suited for applications involving non-fungible tokens (NFTs), GameFi, and decentralized finance (DeFi), where assets frequently need to be updated or modified. In contrast, blockchains like Solana and Avalanche are optimized for speed but lack this flexibility when it comes to handling dynamic data. From DeFi to gaming and supply chain management, Sui's architecture supports fast and efficient transactions, making it an attractive platform for developers looking to build on cutting-edge blockchains.