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Crypto Morning Briefing: Crypto Exchange Coinbase Receives License To Operate in Bermuda

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zkSync Era Surges Ahead Of Polygon’s zkEVM As It Onboards This DeFi Protocol

Noted decentralized exchange (DEX) aggregator 1inch has announced that it has deployed its 1inch Aggregation Protocol as well as its Limit Order Protocol onto zkSync Era, which is a recently-released version of Matter Labs scaling network on Ethereum. 1inch has established itself as one of the most well-known decentralized platforms thus far by successfully porting its protocol to zkSync Era.

Bitcoin Miners Contend With Fifth Network Difficulty Increase of 2023

Bitcoin miners are contending with the fifth network difficulty increase since February 24, 2023, following a 1.72% rise on April 20 at block height 786,240. The network’s difficulty now stands at 48.71 trillion, marking a 22.62% increase over the last 55 days since block height 778,176.

Crypto Exchange Coinbase Receives License To Operate in Bermuda

Coinbase (COIN) has obtained a license to offer its services in Bermuda as part of its international expansion efforts, the firm announced in a blog post on Wednesday.

Tornado Cash Developer Will Finally Be Released From Jail: Report

Alexey Pertsev, the developer of crypto privacy mixer Tornado Cash, will be released from jail next week and await trial at home, according to a report from Blockworks.

CryptoPunks NFT in Centre Pompidou ‘Quite a Surprise’: Larva Labs Co-Founder

Paris' Centre Pompidou is currently hosting an exhibition called “Policies of the Immaterial: From Certificate to Blockchain,” which explores the relationship between blockchain and art. The exhibition features work from 13 French and international artists picked by the National Museum of Modern Art's acquisition committee. The exhibition also includes CryptoPunks NFTs, with a focus on #110, which is pixel art. Yuga Labs gifted the NFT to the museum, as part of the “Punks Legacy Project."

Market Watch 

As of press time, according to Cointime data:

BTC 's live price is $28,189.69 USD, dropped by 3.31% in the last 24 hours;

ETH’s live price is $1,939.89 USD, dropped by 1.67% in the last 24 hours;

BNB’s live price is $317.68 USD, dropped by 1.97% in the last 24 hours;

XRP's live price is $0.47 USD, dropped by 4.27% in the last 24 hours.

Fundraising News

Green Crypto Ecoterra Raises $2 Million in 3 Weeks – Secure Your Spot Now Before Price Rise

Ecoterra, a unique blockchain-based recycle2earn app, has surpassed the $2 million mark in its presale, attracting eager investors looking to capitalize on the growing demand for sustainable cryptocurrencies.

Web3 Security Startup Shield Raises $2.1M in Pre-Seed Funding

Web3 security firm Shield said Thursday it raised $2.1 million in pre-seed funding to build an industry standard that keeps businesses and consumers safe from potential threats.

CoinFund Leads $8 Million Series A Funding Round for Decentralized Database Firm Tableland

Decentralized cloud database Tableland has raised $8 million in a Series A funding round led by CoinFund, with participation from Multicoin Capital, Blueyard, and A Capital. The funds will support Tableland's mainnet launch, the release of new developer tools, and the debut of Tableland Studio later this year.

GPU-focused Cloud Computing Startup CoreWeave Raises $221M in Series B Funding Led

NYC-based cloud computing startup CoreWeave, which began as an Ethereum mining venture, has raised $221m in a Series B funding round led by Magnetar Capital, with participation from Nvidia, former GitHub CEO Nat Friedman and ex-Apple exec Daniel Gross.

Bitcoin Bitcoin $83,896.53
-0.15%
Coinbase Polygon Bitcoin Miner bitcoin mining NFT
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    On September 26, the U.S. Securities and Exchange Commission's Division of Corporation Finance released an updated FAQ on September 25, clarifying that token buybacks, network upgrades, and marketing statements do not automatically make crypto assets securities. SEC staff noted that announcing a buyback plan for an operational crypto network does not, by itself, make the associated tokens investment contracts; however, if the network is not operational and the issuer promotes the buyback as a source of returns for holders, it may be a different case. The FAQ also clarified that services provided once a crypto system is operational, aimed at securing, maintaining, improving, or enhancing the system or its functions, or promoting network effects, do not constitute managerial efforts under the Howey test. Marketing existing uses of the network typically does not create profit expectations, and statements about future functionalities do not either, provided there is no promotion of profit potential. This update reiterates that conclusions will still heavily depend on specific cases and are based on the SEC's interpretative release regarding the applicability of securities laws to crypto assets issued in March this year. On the same day, the Commodity Futures Trading Commission updated its crypto FAQ, allowing futures firms and clearinghouses to invest customer funds in tokenized versions of previously permitted assets, provided they meet investment and custody requirements. CFTC staff also indicated that regulated companies may use blockchain for record keeping but must still be able to provide records if the blockchain or its block explorer is non-operational. These updates come as the CLARITY Act failed to advance in the Senate, with regulators continuing to push forward with the crypto regulatory framework based on existing laws.

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  • Yushu Technology's Wang Xingxing: Key to Breakthrough in Embodied Intelligence Lies in Solving Millimeter-Level Error Issues

    On September 25, the 5th Global Digital Trade Expo was held in Hangzhou, where Wang Xingxing, founder of Yushu Technology, delivered a keynote speech titled "From Machinery to Intelligence - The Evolutionary Theory of Embodied Future." Wang stated that the embodied intelligence industry may soon experience a critical breakthrough similar to that of ChatGPT. He believes that when robots can complete approximately 80% of tasks through voice interaction and embodied intelligence capabilities in about 80% of unfamiliar environments, the industry will enter a critical phase of large-scale application. He pointed out that the ability for robots to understand and execute specific tasks based on voice commands has already made breakthroughs last year, but the industry still faces a core technological bottleneck, namely the precise matching issue between artificial intelligence models and the real physical world. Wang noted that currently, robots still have a few millimeters of error during actual operations, which limits their stability and reliability in complex environments. "In the future, whoever can solve this problem will fundamentally resolve the issues with robots."

  • Swissquote Analyst Warns AI Narrative is a Core Pillar of US Stocks, Potential Break Could Trigger Significant Correction

    On September 25, Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, stated that broad market indices and retirement funds are now deeply tied to the AI wave, with technology stocks accounting for about 40% of the S&P 500 index. She pointed out that the market capitalization weight of just three chip manufacturers makes up over 25% of the MSCI Emerging Markets Index. Ozkardeskaya indicated that AI has become the 'core pillar' of the market, and this pillar 'must not show any cracks.' She believes that, in the short term, the US stock market will continue to be supported by seasonal factors, and the current market uptrend may extend until the end of the year. However, she also warned that the worst-case scenario would be a shake in the investment logic surrounding AI, which could undermine market confidence in the AI narrative, potentially triggering a significant market correction.

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