PA Daily｜U.S. Department of Justice charges Tornado Cash founder with money laundering and sanctions violations; Central African Republic passes Tokenization Law

Today's news tip:

** DOJ charges Tornado Cash founder with money laundering and sanctions violations **

Central African Republic has passed the Tokenization Law, authorizing the tokenization of land and natural resources

Coinbase will delist Multichain, Ooki and other 6 tokens on September 7

Bitstamp will stop providing Ether staking services to US customers from September 25th

CoinList launched a market maker incentive plan, which will waive all eligible market maker fees for 3 months

FTX's daily average legal expenses are as high as $1.5 million

Messari: Over $50 billion in assets stored in Safe smart contract accounts

Data: At present, the DeFi TVL of the entire network has dropped to around 38 billion US dollars

Regulatory News

DOJ charges Tornado Cash founder with money laundering and sanctions violations

According to an official announcement, the U.S. Department of Justice charged Tornado Cash founders Roman Storm and Roman Semenov with conspiracy to launder money, violate sanctions and operate an unlicensed money transmitter business. The indictment says the duo allegedly created, operated and promoted Tornado Cash, which facilitated more than $1 billion in money-laundering transactions and laundered hundreds of millions of dollars for the sanctioned North Korean cybercriminal organization Lazarus Group. Roman Storm has been arrested in Washington State and will appear in court today in the U.S. District Court for the Western District of Washington. Roman Semenov is still at large. In addition, Roman Semenov has been placed on the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) special investigation list.

The Central African Republic has passed the Tokenization Law, authorizing the tokenization of land and natural resources

The Sango platform based on the Bitcoin sidechain launched by the Central African Republic stated that the Central African Republic has passed the Tokenization Law (Tokenization Law), approving the tokenization of land and natural resources. Local and international entrepreneurs will be able to cover real estate, agriculture and natural resources through the blockchain integration of the Sango platform.

Earlier news, Sango, the Central African Republic's national encryption project, said in a message in its Telegram group that the government of the Central African Republic (CAR) has made "significant progress" in enacting laws and regulations that will allow its cryptocurrency Sango Coin to Listed on cryptocurrency exchanges. However, according to the project, the listing of Sango Coin will be delayed by a few weeks until the framework is finalized. The Central African Republic launched the Sango platform based on the Bitcoin sidechain on July 25, 2022, and opened the pre-sale of SANGO tokens, SANGO is the native cryptocurrency of the ecosystem. The total supply of SANGO is 21 billion.

The Hong Kong Monetary Authority released a report on blockchain bonds to explore the potential of tokenized bonds

The Hong Kong Monetary Authority (HKMA) released a report today detailing the blockchain bond issuance “Project Evergreen” and exploring the potential for tokenized bonds more broadly in Hong Kong. The report sets out details of tokenized green bonds and presents available options on key aspects of tokenized bond transactions in Hong Kong, from technology and platform design to transaction structure considerations.

NFT

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Project News

Coinbase will delist 6 tokens including Multichain and Ooki on September 7

Coinbase Assets tweeted that according to the recent review, BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (Ooki ) and Voyager (VGX). Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime will all stop trading the six tokens mentioned above.

Bitstamp will stop offering Ether staking services to US customers starting September 25

Bitstamp will stop offering Ether staking services to U.S. customers starting September 25. Customers will continue to receive staking rewards until September 25, 2023, after which time all staked assets will be unstaked, Bitstamp US CEO Bobby Zagotta said in a statement. All other Bitstamp services will be unaffected. Rewards will be credited to the user's main account balance along with the principal. The closure of the staking service was due to the regulatory environment in the United States, the company said. The U.S. Securities and Exchange Commission (SEC) has targeted staking services in multiple enforcement actions. In the lawsuit against Coinbase and Binance, the SEC claimed that these staking projects were investment contracts under the Howey test.

Cypher plans to carry out IDO in advance, and 7.3% of tokens will be used for airdrops

According to official news, Cypher will carry out IDO in advance (originally scheduled for the end of September) to compensate users affected by the attack. Cypher will use the proceeds from the IDO to fund development and fill the project coffers. More than 45% of tokens will be sold to the public, 23% will be allocated to the team, 11% to investors, 1.2% to advisors, and 12% to the growth incentive program. Another 7.3% will be airdropped to depositors who lost their funds due to the hack. Before launching the IDO, Cypher will transfer funds from the existing smart contract to the new smart contract. This helps affected users claim the designated redemption pack. The airdrop will be carried out according to the ratio determined by the snapshot when the agreement was frozen. Details about the airdrop will be announced soon. According to previous news, Cypher released an update on the attack, saying that about $600,000 has been frozen on various centralized exchanges (CEXs), and the return of these funds will depend on the cooperation of these CEXs and the seizure orders issued by law enforcement agencies.

CoinList Launches Market Maker Incentive Program, Will Waive All Qualified Market Maker Fees for 3 Months

CoinList launched a market maker incentive plan to enhance the liquidity of the spot market on CoinList Pro. All market maker fees will be waived for the next 3 months for all eligible market makers on CoinList. Additionally, the top 5 traders are given a 0.05% rebate on pending order fees based on 30-day average executed volume.

To ensure that less liquid currency pairs get the attention they deserve, CoinList implements rebate multipliers based on trade category. At the beginning of each month, rebates will be distributed to the top 5 USDC market makers based on the executed transaction volume of the previous month.

Tier 1 (1x multiplier): BTC, ETH

Tier 2 (2x multiplier): MATIC, SOL, DOGE, SUI, AVAX, LINK, DOT, FIL

3 years ago: AAVE, ALGO, ICP, FLOW, STX, ROSE, OCEAN, IMX, MKR, XTZ, MINA, CELO, GAL, COMP, T, SKL, CSPR, BICO. CLV、BLD、 OXT, BTRST, NYM, VEGA, GODS, CUSD, HMT, GOG, CQT, BZZ, WCFG, UNI, EFI, CYBER, NEON, CFG, WAXL

FTX sells, stakes and hedges its billions of cryptocurrencies with Galaxy

Bankrupt cryptocurrency exchange FTX wants to begin selling, staking and hedging a significant amount of its crypto holdings, seeking to hire Mike Novogratz's Galaxy as an advisor, according to court documents filed late Wednesday. FTX wants to return funds to creditors in fiat currency rather than bitcoin (BTC) or ethereum (ETH), but hopes prudent transactions will avoid diluting the value of its more than $3 billion cryptocurrency holdings.

“Hedging bitcoin and ether will allow FTX to limit potential downside risk before selling such bitcoin or ether,” FTX lawyers said in the filing. low risk reward, which benefits estate administrators and ultimately creditors.”

FTX hopes that the interest on its cryptocurrency reserves will increase the reserves it can distribute to customers who are still awaiting refunds.

USDC will list Polygon PoS, Base, Polkadot, NEAR, Optimism and Cosmos

According to The Block, the USDC stablecoin co-founded by Circle and Coinbase will soon be launched on the six blockchains of Polygon PoS, Base, Polkadot, NEAR, Optimism and Cosmos. The expansion aims to increase USDC’s share of the stablecoin market.

Investment and Financing

Anytype, a decentralized local peer-to-peer open source tool, completed $13.4 million in financing, led by Balderton Capital

Anytype, a decentralized local peer-to-peer open source tool, officially announced that it has completed a new round of financing of US$13.4 million, led by Balderton Capital, Inflection, Square One, Capital, Protocol Labs, Connect Ventures, New Forge and Foreword VC, as well as a group of Web3 field Well-known angel investors participated in the investment. Anytype's local-centric peer-to-peer open source tools can provide users with the originally expected network freedom while protecting privacy, data autonomy and control. By combining no-code tools with a decentralized architecture, creators and communities can follow their own way to build a network.

Important data

Messari: Over $50 Billion in Assets Stored in Safe Smart Contract Accounts

Messari stated in the "Unifying Standards: Safe{Core} Protocol" report that Safe smart contract accounts store more than $50 billion in assets and are one of the preferred solutions for smart contract wallets. Last week, Safe released Safe{Core}, an interoperability protocol for modular smart accounts.

FTX’s average daily legal expenses are as high as $1.5 million

Lawyer Kris Hansen, who represents FTX's creditor committee, said that FTX's monthly legal expenses have reached nearly 50 million US dollars, with an average daily fee of 1.5 million US dollars. Hundreds of lawyers, financial advisors and bankers work almost full-time, and every dollar spent on legal bills reduces the amount available to pay creditors.

Nvidia's revenue in the second quarter increased by 88% quarter-on-quarter, exceeding expectations, and AI-related tokens generally rose

Nvidia announced its second-quarter financial report. Due to the surge in demand for artificial intelligence chips, the second-quarter earnings greatly exceeded Wall Street expectations, with revenue of $13.5 billion, an increase of 88% over the first quarter. The company's revenue figure beat analysts' forecast of $11.2 billion by more than $2 billion. Or affected by this, AI-related cryptocurrencies such as FET, RNDR, and AGIX have all experienced a rise of up to over 4% in the past about 24 hours. Also, Nvidia reported earnings per share (EPS) of $2.48, beating analysts' consensus estimate of $2.08, according to Google Finance. The company's second-quarter earnings per share rose 854% year-over-year. Nvidia's stock price also rose due to its better-than-expected performance, soaring nearly 10% in after-hours trading. In the past 10 months, Nvidia's stock price has soared by more than 300%, and its market value has exceeded 1.16 trillion US dollars.

Voyager transferred another 12.89 million USDC to Circle for USD

On-chain analyst Ember Yu wrote that Voyager’s compensation for selling coins has finally come to an end: 14 hours ago, Voyager transferred another 12.89 million USDC to Circle to exchange for U.S. dollars. Since August 12, 97.89 million USDC has been withdrawn and withdrawn through the sale of tokens. So far, Voyager has sold most of the tokens and exchanged them for USDC and withdrawn gold. Except for 52.4 million VGX ($6.3 million), the total value of the remaining tokens is less than $200,000.

Data: At present, the DeFi TVL of the entire network has dropped to around 38 billion US dollars

According to DefiLlama data, the DeFi TVL of the entire network of the cryptocurrency market has dropped to its lowest point since February 2021, and it is currently about 38.134 billion US dollars. From the peak of Defi Summer in 2021 to more than 170 billion U.S. dollars, a drop of more than 70%.

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