Source: C Labs Crypto Observation
Before the election, a16z partners once pointed the blame for the chaos in the development of the crypto industry directly to SEC Chairman Gensler.
As the saying goes: Good things come in turns, who can escape the punishment?
Now with the victory of the crypto industry, 18 states in the United States have filed a lawsuit against the SEC and its commissioners, accusing them of overstepping their authority and violating the constitution and unfairly persecuting the crypto industry under the leadership of agency head Gary Gensler.
The lawsuit, signed by 18 Republican attorneys general, details how the agency has committed "serious government overreach" through enforcement actions to regulate a $3 trillion industry, thereby infringing on the rights of states to regulate their economies.
Originally I thought this old man would be thick-skinned and refuse to leave, but Gensler also issued a statement, seemingly intending to resign:
Gensler said in the statement:
...I am honored to work with everyone to serve the people and ensure that our capital markets are the best in the world...
...It is easy for me to work with my colleagues at the SEC, day in, day out, on the financial highway to protect American families.
This wording already implies resignation~
The two founders of A16Z publicly called out that now is the best time to engage in encryption projects!
Recently, there have been some rumors about new crypto policies. For example, A16Z executives told various project parties that they can explore issuing tokens without worrying about excessive regulation.
As soon as the voice fell, Tether, the world's largest stablecoin issuer, released the Hadron platform and announced that it would tokenize all stocks/stablecoins/bonds/real estate!
In addition, some media said that Trump may cancel the capital gains tax on crypto assets issued in the United States.
If this measure is really implemented, the United States will soon become the world's crypto center and tax-free haven~
In contrast, the Democratic Party has been hindering the development of the crypto industry with strict supervision and punitive taxation, for fear of affecting the interests of the vested interests.
After the excitement of the election, these practical policies are the foundation for the long-term development of the crypto industry and the guarantee of the long-term bull market~
South Korea is launching the Digital Asset User Protection Foundation to help users recover funds trapped in failed cryptocurrency exchanges, which have seen ten out of 22 platforms shut down. The foundation, expected to start operations in October, will coordinate with defunct exchanges to securely manage and return users' assets.
AnaisOpenAI is transitioning to a for-profit benefit corporation. Reports suggest that Sam Altman could receive a 7% equity stake, potentially valued at $10.5 billion. This prompts an important question: why are so many key insiders departing?
CatherineA Singapore court granted WazirX a four-month conditional moratorium after its July hack, which led to a $234 million loss. The exchange initially requested six months but received a shorter relief period under specific conditions to address its financial situation.
KikyoMeta is revamping its metaverse avatars with a major update launching on October 1st, allowing users to customize features like eye size and body types. Future updates will include AI-generated avatars and new options for fantasy characters, enhancing user experience in the metaverse.
JoyA scam targeting cryptocurrency investors in Hong Kong has led to losses of HK$14.8 million, with victims tricked into making transactions at fake exchange shops. One businessman lost HK$4 million after realizing he was locked inside a shop while scammers escaped with his money.
WeatherlyChina announced a "policy bazooka" on Tuesday, introducing measures to boost its economy, including cuts to mortgage rates, the reserve requirement ratio, and new stock market support tools. The key question: will this stimulus boost crypto or push interest towards cheaper fiat currencies?
CatherineLINE NEXT has launched “Super Mates,” an app that allows fans to interact with AI-driven avatars of their favorite artists in English, Korean, or Japanese. To celebrate, they’ve partnered with K-pop group aespa, offering exclusive rewards and merchandise while inviting users to engage in various activities until October 2024.
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AlexA report by crypto analysis company Chainalysis shows that China's over-the-counter cryptocurrency transactions attracted $75 billion, and about 55% of over-the-counter cryptocurrency transactions exceeded $1 million.
MiyukiThe TUSD stablecoin has been decoupled from the US dollar in the short term, and the decentralized exchange Curve Finance has removed TUSD from its stablecoin crvUSD collateral. After BUSD encountered US regulation, Binance Exchange has stepped on the thunder for the second time and has stopped Launchpool support for TUSD.
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