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Share link:In this post: Eric Trump has warned his followers not to bet against BTC and ETH. Ethereum recorded a jump above $4,000 to wipe out short positions worth $105 million. Analysts share mixed reactions over ETH’s rally due to its record in the third quarter dating back to 2016.
Share link:In this post: SEC has waived the “bad actor” designation for Ripple after the settlement of their 5-year dispute. The waiver means Ripple can now return to raising capital in the private markets. XRP has seen substantial gains, but analysts say there is more to come.
Share link:In this post: Microsoft has announced that it will discontinue its Lens application in the coming weeks. The company has released the timeline for the removal of the application from the iOS and Android app stores. Microsoft has urged users to switch to the Copilot artificial intelligence application.
Share link:In this post: A Colorado man has pleaded guilty to operating a multi-million-dollar fraudulent investment scheme. The suspect, Timothy McPhee, is also being charged with tax evasion and conspiracy to defraud the United States. McPhee is expected to be sentenced on October 23, facing up to 30 years in prison for his crimes.
Share link:In this post: Ethiopian Electric Power has announced plans to shut down all crypto mining operations in the country. According to the EEP, no new contracts will be taken, and all existing ones will be reconsidered. EEP wants to focus electricity on domestic consumers and strategic industries.
Quick Take Bitcoin rose above $121,000 while ether reached $4,300 late night Sunday, following Trump’s executive order on allowing 401(k) accounts to invest in crypto. Spot ETF flows and corporate crypto treasuries remain key drivers of the current market cycle, analysts said.
The DeFi TVL patterns are similar to the 2021 altseason, which sent Ethereum to its record high.
Ethereum price surged 6.5% to $4,330 on August 10 as Fundamental Global unveiled a $5B ETH treasury accumulation plan.
- 04:42Hong Kong SFC Clarifies Robust Custody Standards for Virtual Asset Trading Platforms to Safeguard Client AssetsAccording to Jinse Finance, the Hong Kong Securities and Futures Commission (SFC) issued a circular today to all licensed virtual asset trading platforms, outlining its requirements for the prudent custody of client virtual assets. This move lays a solid foundation for the industry to gradually adopt more advanced custody technologies under the ASPIRe roadmap. In the latest circular, the SFC lists several best practice examples and the minimum standards that virtual asset trading platform operators should meet, covering areas such as the responsibilities of senior management, the infrastructure and operation of client cold wallets, the use of third-party wallets, and real-time threat monitoring. In the future, these standards will also become core regulatory requirements for virtual asset custodians and will help promote the establishment of an effective virtual asset custody framework within the industry. (Jin10)
- 04:32Opinion: stETH Faces Depegging Risk, Potentially Triggering Liquidations on Lending ProtocolsAccording to a report by Jinse Finance, Jlabs Digital analyst Ben Lilly pointed out that stETH is currently being withdrawn from Lido. Meanwhile, another lending protocol, Figment, is absorbing Lido’s market share, which suggests that Figment could potentially be a staking partner for ETFs. 32% of stETH (wstETH) is being used as collateral in lending protocols, and a depegging event could trigger liquidations within these protocols. Notably, at present, 278,000 wstETH are in a “high-risk” state (with high risk defined as a health factor between 1 and 1.1).
- 04:26Data: Over 788,000 ETH Queued to Exit Ethereum PoS, Setting a New RecordAccording to ChainCatcher, citing validatorqueue data, the current Ethereum PoS network exit queue stands at 788,624 ETH, valued at approximately $3.651 billion, marking a record high in exit volume denominated in ETH. Meanwhile, about 332,846 ETH are queued to join the network. This situation reflects two opposing forces in the market: on one hand, some stakers may be choosing to cash out after Ethereum rebounded more than 160% from its April low, resulting in a surge in the exit queue; on the other hand, new capital driven by favorable regulatory developments and institutional demand is also pushing up the entry queue, as publicly listed companies such as SharpLink Gaming and BitMine Immersion increase their ETH holdings and participate in staking.