Sarah Breeden, the incoming deputy governor of the Bank of England (BOE), said that the encryption industry does not pose a major risk to financial stability for the time being, but if its connection with the financial world deepens,

Especially when stablecoins are used for payments, it can pose a significant risk.

It is reported that Sarah Breeden has worked for the BOE for a long time. She will help guide the UK to formulate regulatory encryption methods and play a role in deciding whether to issue a central bank digital currency (CBDC).

Breeden supports CBDC, believing it will become the anchor for all currencies in the digital world.

David Lawant, head of research at institutional exchange FalconX, wrote in a market update that this follows large liquidation events in the past.

Open interest, which is the total amount of open options and futures contracts held by market participants, has declined significantly.

The report pointed out that open interest in BTC and ETH derivatives on mainstream exchanges such as Binance has dropped by approximately 38% from this year’s highs and is currently close to March levels.

“The significant decline in open interest over the past six months suggests that liquidations should play a less significant role in spot price movements,” Lawant said.

Nicolas Liochon, head of zkEVM Linea at Consensys, said in an interview during Korea Blockchain Week that proto-danksharding, also known as Ethereum Improvement Proposal EIP-4844, has the potential to cut rollup costs by more than 90%.

Liochon explained that the transaction cost on Linea is only equivalent to 1/15 of the cost on Ethereum L1, but the rollup cost is still higher. EIP-4844 introduces data blocks that can be sent and appended to Ethereum blocks, where the data stored is inaccessible to the Ethereum Virtual Machine (EVM) and set to be deleted after a specified period of time.

This innovation is expected to significantly reduce transaction costs and solve the core problem of data availability, which accounts for 95% of Rollup costs.

Liochon emphasized that Linea’s Prover is responsible for off-chain calculation, verification, bundling, and generation of cryptographic proofs of combined transactions, which account for only 20% of the total cost.

In addition, Linea hopes to be a versatile zkRollup for various DApps and solutions in the Ethereum ecosystem to meet the needs of DeFi, gaming, and social applications.

According to the August market analysis report released by Dapprader, the total DeFi lock-up volume (TVL) fell by 5% in August and stabilized at a range of US$72 billion. Ethereum is still the leading blockchain in DeFi, occupying 71% in this field. %leading position.

Followed by popular Layer-2 solutions such as Arbitrum and Optimism, the second-layer blockchain Base launched by Coinbase has received great attention from DeFi enthusiasts. Within a few weeks of going online, its TVL soared 946% to $431 million.

NFT transaction volume and sales volume generally fell, with transaction volume falling by 16% to $559 million, and sales volume falling by 13%, with a total sales volume of 3.2 million.

ARK Fund position data shows that from August 1 to August 31, ARK Fund continued to reduce its holdings of GBTC shares, with a total reduction of 247,482 GBTC shares, which is worth approximately US$4.77 million based on current prices. As of Friday’s close, GBTC closed at $19.3.

It is worth noting that on August 25 and August 28, ARK Fund sold 5331945 GBTC in a single day, and bought 5331945 and 5298197 GBTC respectively on August 25 and August 28, a single operation The amount exceeds US$100 million.

Two African countries, Nigeria and South Africa, have been ranked as among the most crypto-savvy countries in the world, according to a new 2023 global survey.

The survey also found that the use of cryptocurrencies remains a contentious issue in many markets across the region.

According to a 2023 global survey conducted by Consensys and YouGov, 92% of people around the world are paying attention to the digital currency craze.

The survey also showed that there are still differences between countries, with Nigeria, South Africa and Brazil leading the way in awareness. For Nigeria, its cryptocurrency awareness data is eye-catching, with a whopping 99% of respondents saying they are aware of cryptocurrencies.

In addition, 70% of respondents clearly understand the basic concepts of blockchain technology, which has enhanced Nigeria’s position on the global stage.

A court filing in bankruptcy court by FTX’s current management revealed a detailed list of the celebrities, businesses and sports teams it has promoted over the years.

Among them, FTX paid nearly US$750,000 to former NBA star O’Neal and approximately US$308,000 to tennis star Naomi Osaka.

Nearly $206,000 was paid to Jacksonville Jaguars quarterback Trevor Lawrence and about $271,000 was paid to former Boston Red Sox player David Ortiz.

The company acknowledges that the list itself may not reflect an exhaustive list of all deposits and repayments, but is working to identify all outstanding payments from previous years to see how much of them can be recovered to repay debt.

As previously reported, on September 9, a financial consultant hired by FTX stated that FTX was studying whether it could recover promotion fees paid to sports stars such as O’Neal.

Justin Bieber producer Andreas “Axident” Schuller will sell NFTs that will grant owners a percentage of future streaming royalties from Justin Bieber’s hit song Company.

Schuller partnered with AnotherBlock, a blockchain-based music rights platform, to sell 1% of the streaming rights to Bieber’s Company via 2,000 Ethereum NFTs.

Each ERC-721 token is priced at 0.017ETH (about $28), and each holder will receive 0.0005% of future streaming revenue from digital service providers such as Apple Music, Tidal, and Spotify. Starting September 7th, AnotherBlock accepts credit card and cryptocurrency payments.

Caroline Pham, commissioner of the U.S. Commodity Futures Trading Commission (CFTC), said at Korea Blockchain Week that the Digital Assets Subcommittee plans to formulate regulatory standards for virtual assets within the next two years and will announce recommendations on the 5th of next month.

According to Caroline Pham, the goal of the subcommittee is to define digital assets. The key is to distinguish whether digital assets are financial assets or non-financial assets. It is not a panacea to regulate digital assets like financial assets, because digital assets can be non-financial assets.

Pham also pointed to the need for regulation of DeFi. Pham said that he does not think that DeFi can be unregulated, and DeFi will be regulated. As far as code-based DEX is concerned, we can discuss regulatory issues by focusing on algorithms.

Caroline Pham added that she hopes to learn about innovations in the field of digital assets by visiting South Korea. Think South Korea is 10 years ahead of the U.S. in cryptocurrency because the masses are open to innovation.

The Digital Assets Subcommittee, newly formed in February this year and chaired by Mr Palm, is tasked with developing regulatory recommendations for digital assets.

A joint policy roadmap released by global standard-setters on Thursday said simply banning cryptocurrencies would not remove their risks.

Thursday’s report reiterated the IMF’s stance that a blanket ban on cryptocurrencies may not help mitigate the associated risks, adding that targeted restrictions could be particularly appropriate for emerging economies.

Countries such as India have raised concerns about the wider threat posed by the widespread use of cryptocurrencies to monetary policy in emerging economies and called on policy agencies to recommend stronger bans or address these specific concerns.

The FSB and the International Monetary Fund (IMF) will launch a joint paper on global cryptocurrency policy, Financial Stability Board (FSB) Chairman Klaas Knot wrote in a letter on Tuesday.

Consulting firm Henley & Partners released its first cryptocurrency wealth report, and there are 88,200 cryptocurrency millionaires worldwide, with nearly half (40,500) of them holding Bitcoin.

There are currently 182 cryptocurrency billionaires (high-net-worth individuals holding cryptocurrencies worth $100 million or more) worldwide, 78 of whom are bitcoin holders.

Henley & Partners CEO Dr. Juerg Steffen stated that traders, miners, investors and cryptocurrency entrepreneurs are exploring investment immigration strategies to safeguard their interests.

Over the past six months, we have seen a huge increase in inquiries from cryptocurrency millionaires looking to protect themselves from possible future bans on trading or using cryptocurrencies in their countries and ease the burden of taxing digital assets. Risks of Aggressive Fiscal Policy.

Brett Winton, chief futurist of Ark Invest, said on the X platform (formerly Twitter) that the United States is trying to harm Bitcoin at the expense of the long-term strategic interests of the United States.

“Trying to kill bitcoin because it threatens the supremacy of the dollar system is like trying to kill language translation technology because it threatens the supremacy of the English language,” he said.

As previously reported, the U.S. Securities and Exchange Commission has delayed decisions on spot bitcoin ETF applications by asset managers including BlackRock, Fidelity, Bitwise, VanEck, WisdomTree, Invesco and Valkyrie until October.

Grayscale’s legal team, along with attorneys for Davis Polk & Wardwell and Munger Tolles & Olsen, wrote to the SEC on Tuesday that there was no reason for the other party to refuse to convert its Grayscale Bitcoin Trust (GBTC) into a spot ETF.

Grayscale’s legal team said in the letter that GBTC’s Rule 19b-4 submission has been pending for almost three times as long as Section 19(b) of the Exchange Act would have allowed the Commission to take action.

Therefore, we hope regulators agree that the best use of resources now is for the Commission to issue an order approving NYSE Arca’s Rule 19b-4 filing and authorize staff to work with Grayscale and NYSE Arca to finalize a swift listing of the Trust’s shares. We believe the trust’s nearly million investors deserve this level playing field as quickly as possible.

Ethereum is poised to outperform bitcoin in September and October as it benefits from strong momentum related to a possible exchange-traded fund (ETF) listing, crypto market analysis firm K33 Research said in a report Tuesday.

The deadline for the U.S. Securities and Exchange Commission (SEC) to approve or reject the first Ethereum ETF is mid-October, and the agency’s approval of the product is highly likely.

K33 senior analyst Vetle Lunde explained that the development could push the price of ether higher, noting that bitcoin rallied 60% in the three weeks before the launch of the first futures-based ETF two years ago.

Lunde said ETH is highly likely, calling it a strong relative buy versus Bitcoin, with ETH/BTC trading near 2.5-year range lows with considerable relative upside.

21co chain analyst Tom Wan posted on social media X (formerly Twitter) that Paxos will stop supporting BUSD in February 2024.

The obvious beneficiary will be FDUSD, a stablecoin issued by First Digital Labs, and Binance will allow users to convert BUSD to FDUSD 1:1.

Due to its integration with Binance, FDUSD has become the ninth largest stablecoin with a market capitalization of $394 million. The exit of BUSD will be another catalyst for the growth of FDUSD.

American biographer Walter Isaacson is about to release a biography of Elon Musk of the same name. According to Isaacson, in the new book, Elon Musk’s secret relationship with the cryptocurrency Dogecoin will be made public.

Changpeng Zhao, CEO of the encrypted asset exchange Binance, previously stated that he was surprised by the stable operation of Dogecoin since its creation, and suspected that there was Musk’s support behind it. His remarks were also widely recognized by the crypto world.

There is speculation that Isaacson’s new book may further confirm that Musk has been secretly funding the development of Dogecoin for a long time.

The Australian Senate’s Economic Legislation Committee rejected the Digital Assets (Market Regulation) Bill 2023 proposed by opposition Senator Andrew Bragg, and instead recommended that the government continue to consult with the industry on developing digital asset regulations suitable for Australia’s purposes.

The committee’s report was consistent with partisan lines. The committee said the bill lacked detail and certainty and contradicted the government’s approach.

The committee said the bill was inconsistent with the international regime and raised genuine concerns about regulatory arbitrage and adverse outcomes for the industry.

Bragg, who represents New South Wales, criticized the veto, saying the Labor government had put cryptocurrency regulation in the slow lane.

Christine Kim, a Harvard legal scholar and professor of law at Yeshiva University, recently published a research paper detailing the arguments for not just taxing virtual universes, but seeing them as laboratories for experimenting with cutting-edge policies.

In the paper, dubbed simply Taxing the Metaverse, Kim argues that the Metaverse allows participants to create and accumulate wealth entirely within its ecosystem.

The paper goes on to explain that the virtual world’s ability to record all digital activity and track personal wealth means that the government can track and tax income as soon as it is received, which could change the status quo of US tax law.

South Korea plans to submit a bill to track and freeze illicit cryptocurrencies and virtual assets in North Korea, according to several people familiar with the matter.

The latest version of the bill, which was first announced in Nov. 22, includes measures to track and freeze virtual currency and other crypto assets stolen by North Korea through hacking.

South Korea’s intelligence service reported that North Korea stole 1.7 trillion won ($1.28 billion) worth of bitcoin and ethereum through various hacking groups in 2022 alone.

At Korea Blockchain Week KBW2023, Vitalik Buterin delivered a keynote speech saying that clients have to store more and more things.

The first solution is to stop storing historical data, that is, adopt EIP-444 (enforce bound historical data in the client), the second solution is to transfer state storage responsibility to dedicated nodes, and the third solution is to transfer The old object is moved out of state.

EIP-444 means that the client must stop providing historical headers, bodies, and receipts on the p2p layer for more than one year, and the client can delete (prune) these historical data locally.

According to data from CoinShares, since the beginning of 2023, Solana (SOL) investment product inflows worth $ 26 million, surpassing all other altcoins including ETH, indicating that it is the most popular altcoin among investors.

In the “Digital Asset Flows Weekly Report” published on September 4, James Butterfill, director of research at CoinShares, pointed out that the trading volume of encrypted investment products in the week ended September 1 was 90% higher than the year-to-date average.

It fell to $11.2 million. This marked seven straight weeks of negative sentiment, during which time crypto products saw outflows of $342 million, but investment products still saw net inflows of $165 million year-to-date.

Following Grayscale’s victory in its lawsuit against the SEC, the U.S. Securities and Exchange Commission (SEC) may have no choice but to approve multiple spot bitcoin exchange-traded fund (ETF) applications, JPMorgan said.

JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a note Friday that Grayscale’s victory means the SEC will have to retroactively revoke its previous approval of a futures-based bitcoin ETF in order to uphold its rejection of Grayscale. A proposal to convert its bitcoin trust into an ETF.

As such, it seems more likely that the SEC will be forced to approve spot bitcoin ETF applications that several asset managers have not yet approved, including Grayscale’s.

According to Cryptoquant data, on September 1, 2020, the BTC reserves of the centralized encryption exchange were 2.828 million, and three years later, this number had decreased to 2.024 million BTC, a decrease of 804,000 BTC.

Before FTX declared bankruptcy in November 2022, the centralized exchange held 2.511 million BTC, indicating that 487,000 BTC had been withdrawn since then.

In the three months since May 23, 2023, approximately 184,000 BTC have been withdrawn from centralized cryptocurrency exchanges.

As of Aug. 28, BTC holdings on these platforms have nearly dipped below the 2 million mark, with cryptoquant data showing a balance of 2,007,427.

Bitcoin holdings have grown slightly over the past few days, reaching 2.024 million.

According to NFTGo data, the number of buyer addresses in the Ethereum NFT market in the past 24 hours is 4,119, and the number of seller addresses is 4,201.

The number of profitable addresses in the past 30 days is 41,442, and the number of loss-making addresses is 455,154.

In addition, the current Ethereum NFT market sentiment index is 20, and the grade is Cold. Note: The NFT market sentiment index is calculated based on volatility, trading volume, social media and Google trends.

According to the latest data from Coingecko, as TUSD’s market value surged yesterday, it rose from about $2.9 billion to about $3.44 billion.

At present, it has surpassed the market value of Binance USD (currently about 2,877,134,989 US dollars), becoming the fourth largest stable currency in market value, second only to Tether (82,867,713,960 US dollars), USD Coin (26,157,470,383 US dollars) and Dai (3,863,756,950 US dollars).

Data from crypto market intelligence platform Kaiko suggests that XRP was the best performer among the top 10 altcoins by market size on Coinbase during the recent decline.

Except for XRP, the average trade size for all identified altcoins is below $400, Kaiko said.

A screenshot of the 7-day moving average of all listed cryptocurrencies shows that XRP’s average trade size is higher than it was at the time of the Ripple vs. SEC case ruling.

Bitcoin has led the cryptocurrency market’s price plunge over the past 72 hours, losing about 8.7% of its value, according to TradingView.

The drop sent bitcoin prices below key support levels, retesting recent lows of $25,350.

Ethereum experienced a similar situation, losing 7.36% of its value during the crash. ETH also broke below a key support level before finding a local bottom at $1,602.

Billy Markus, the co-founder of Dogecoin, posted on X (formerly Twitter) that the revenue of the platform is shrinking. Currently, his X account Shibetoshi Nakamoto has more than 2.1 million fans.

Billy Markus pointed out that the X platform fork he received so far is only one-third of the income he received 14 days ago.

But I am still grateful for the gift, and the reason for the shrinking revenue may be that fewer and fewer users are willing to pay.

According to previously disclosed data, Billy Markus is the second largest earner on the X platform, and the largest earner is the Internet Hall of Fame with 1.9 million fans.

Analysts Olga Kharif and James Tarmy released an NFT market report, citing DappRadar data showing that between January 2022 and July 2023, the monthly trading volume of NFT dropped by 81%, and the floor prices of well-known NFTs such as Bored Ape Yacht Club and CryptoPunks dropped even more. It is the lowest point in more than two years.

In addition, due to unforeseen challenges, the NFT market Recur is gradually closing down, and another platform, Nifty, has also announced its suspension. Blur’s NFT sales plummeted by 96% from the end of June to the beginning of August.

While the overall sentiment in the NFT market remains grim, certain segments still hold value, with continued demand for high-end NFT artwork from well-known creators and low-value NFTs used in games.

According to data from The Block Pro, the adjusted transaction volume on the stablecoin chain rose in August to $520.9 billion, an increase of about 6.8%, and it is also one of the few encryption indicators that has risen in the past month.

However, the issued stablecoin supply continued to shrink to $115.1 billion, a decrease of about 2.2%.

The US dollar stablecoin USDT market share continued to rise (up to 77.2%), with a supply of 82.9 billion US dollars, while USDC’s market share fell further to 21.1%.

However, after the adjustment of Bitcoin and Ethereum, the total transaction volume on the chain has decreased by 6.3%, falling to 176 billion US dollars, of which the transaction volume on the Bitcoin chain has decreased by 6.7%, but the transaction volume on the Ethereum chain has decreased by 5.7%.

According to Shibarium Scan, the Shibarium network has more than 1 million wallets participating.

In total, these users executed more than 783,000 trades, with an average daily trade volume of approximately 73,640 trades. Notably, the blockchain’s total block count currently stands at 421,736.

Despite the surge in transaction volume, this has yet to translate into a significant increase in total assets locked on the bridge.

Currently, the figure is only $1.16 million. DeFillama data shows that the main players on the network are decentralized exchanges, mainly DogSwap and MARSWAP.

These platforms accounted for about $1 million of total TVL.

According to data from The Block Pro, Bitcoin miners and Ethereum staking revenues generally fell in August, with Bitcoin miners’ revenue falling to $805 million in August, a drop of 6.8%.

At the same time, Ethereum staking revenue also declined, down 7.5%, to about $130 million.

Spot volumes on compliant centralized exchanges (CEXs) fell 2.8% in August to about $261.6 billion, the lowest level since November 2020.

However, the average daily trading volume of Grayscale’s Bitcoin Trust Fund GBTC has risen in August, rising to $67 million, an increase of 4.1%.

Lorenzo Melendez, president of NFT project Pudgy Penguins, said in an interview that the NFT market trend has been negative for quite a long time, and investors and sellers are struggling to find the long-term value of NFT digital assets.

He pointed out that the NFT market still needs to experience a very difficult bottoming out.

The analysis believes that the decline in the NFT market is due to a variety of factors, including the shift from a collector-driven market to a trader-driven market and the plunge in the price of Blur’s native tokens (down 32% from last year).

In addition, the term NFT has fallen out of favor, with auction houses and projects now referring to it as digital art or digital collections.

According to data from The Block Pro, a total of 72,117 ETHs were destroyed on the Ethereum network in August, worth $126.5 million.

Data shows that Ethereum has been in a state of deflation since January 2023. Since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed a total of about 3.58 million ETH, worth about 10.17 billion US dollars.

In August, the transaction volume of the NFT market on the Ethereum chain continued to decline, reducing to about 391 million US dollars, a drop of about 8%. Among them, Blur, a new NFT market, surpassed OpenSea for the seventh consecutive month in terms of monthly transaction volume and other indicators.

Exploits, hacks, and scams will steal nearly $1 billion in 2023, according to a report shared by blockchain security firm CertiK.

According to CertiK, more than $997 million has been lost so far in 2023 due to exploits, hacks and scams.

These include approximately $261 million in losses due to flash loan attacks, over $137 million in losses due to exit scams, and over $596 million in losses due to exploits.

Malicious actors targeting the cryptocurrency space stole more than $45 million in digital assets from victims in August alone, it was reported yesterday.

According to data from CoinGecko, the 24-hour trading volume of the CYBER token of Web3 social network CyberConnect is about 225 million US dollars, which is a nearly 10-fold increase from the 30 million US dollars trading volume on Monday.

Coinglass data shows that traders are paying annualized funding rates of 2,000% to buy CYBER tokens.

Funding rates, the periodic fees traders pay to counterparties in the perpetual futures market, have soared to 2,190% on Bybit and Bitget, and as high as 1,500% on Binance.

The data shows that the majority of transactions take place on Binance, which accounts for 74% of all network transaction volume. This is followed by Korean exchange UpBit.

According to The Block Research, less than $500 million in venture capital was invested in crypto startups in August, marking the fourth straight month of decline in venture funding in the space and the lowest monthly funding volume recorded since January 2021 .

A recent report by The Block Research expects the level of venture funding in the industry to fall below $2.5 billion in the third quarter of this year, which would be the worst since the fourth quarter of 2020.

Funding for crypto startups is $13.5 billion in Q1 2022.

Arkham, an on-chain intelligence platform, stated in an official tweet that Arkham has confirmed on the chain that Grayscale Ethereum Trust is currently the second largest ETH entity in the world, with $5 billion in ETH.

The Grayscale Ethereum Trust is spread across more than 500 addresses, none of which hold more than $30 million, making the identification process more difficult, Arkham said.

Arkham was able to identify addresses by analyzing activity and cross-referencing with Grayscale’s publicly reported balances.

Some experts say the Grayscale and Uniswap rulings send a strong message to U.S. lawmakers that regulatory changes may be necessary.

The judicial logic of the two court cases, especially with Democratic-appointed judges, has special significance.
Grayscale judges Sri Srinivasan, Neomi Rao and Harry Edwards made the ruling, Rao wrote the opinion, and Srinivasan was an appointee of President Barack Obama and a relatively close Moderate Democrats.

Both Srinivasan and Edwards sided with Grayscale, which could send a signal that the SEC could lose to many Democratic judges.

Justin Slaughter added that the D.C. Circuit is considered the second most important court in the United States because it hears cases related to rulemaking and is also considered the SEC’s home court due to the Democratic majority.

John Aughenbaugh, an associate professor at Virginia Commonwealth University, said that what is really impressive about the Grayscale verdict is not that the judges were appointed by different presidents, but that the judges were appointed by presidents of different political parties.

They’re basically sending the same message to the SEC that you need to make some sound decisions and you can’t keep treating the same class of bitcoin products differently.

The Kentucky Public Service Commission has rejected a proposed contract that would have allowed mining companies to receive subsidies for electricity provided by utilities.

In an Aug. 28 order, the commission rejected a contract between Ebon International and Kentucky Power for a $50 million investment in a cryptocurrency mining facility in the city of Louisa.

According to the document, Ebon plans to operate a 100 megawatt (MW) mining operation by 2024 and then increase the load to 250 MW.

Environmental groups Earthjustice and Greenpeace hailed the commission’s decision as a victory for ordinary energy consumers in Kentucky.

Joshua Archer, head of the Bitcoin campaign at Greenpeace, claimed that incentivizing crypto mining companies to open factories in the state would burden taxpayers and contribute to climate change.

So far this quarter, bitcoin spot trading volume has totaled $721.1 billion, according to data from CoinGecko.

If September’s transaction volume is the same as in July and August, it would mark the lowest quarterly transaction volume since the first quarter of 2019.

Quarterly transaction volume hovers above $2 trillion for most of 2019 through 2023.

In the past two months, Bitcoin trading volume was $345.89 billion and $354.84 billion, respectively.

If conditions hold and September volumes hover around $350 billion, quarterly volumes will approach $1.05 trillion.

In July and August, ETH trading volumes were $232.06 billion and $212.92 billion, respectively.

If ethereum trades around $220 billion in September, it would put its cumulative quarterly volume at just over $650 billion, its lowest level since 2019. In the fourth quarter of 2019, the total amount of ETH spot transactions reached 740.64 billion US dollars.

Data from crypto analytics firm IntoTheBlock shows addresses holding at least 0.1% of the bitcoin supply, worth more than $500 million, amassed a total of $1.5 billion in BTC in the last two weeks of August.

Lucas Outumuro, director of research at IntoTheBlock, wrote in a report that the increase occurred at a time when inflows to centralized exchanges were close to zero, suggesting that there was organic buying demand and not just funds moving to exchange addresses.

The data shows that whales increased their holdings for the first time after August 17, when BTC plummeted more than 10% to below $26,000, the lowest price since June.

According to The Block Pro data, the open interest of Bitcoin and Ethereum futures fell in August. The open interest of Bitcoin futures fell by 14% in August, and the open interest of Ethereum futures fell by 18%.

In terms of futures trading volume, Bitcoin futures trading volume fell 5.3% in August to $603 billion.

The open interest of CME Bitcoin futures fell by 4.8% in August to $2.23 billion, and the average daily turnover fell even more, reaching 16.6% to about $1.37 billion.

However, in terms of cryptocurrency options, both Bitcoin and Ethereum option positions increased in August, with Bitcoin option positions increasing by 13% and Ethereum option positions increasing by 16%.

In addition, in terms of the trading volume of Bitcoin and Ethereum options, Bitcoin and Ethereum also experienced a general increase. Among them, the trading volume of Bitcoin options increased by 11% in August to 21 billion US dollars.

Ethereum options volume rose 5.1 percent to $11.2 billion.

Crypto asset businesses in the United Kingdom can now start withholding certain cryptocurrency transfers to comply with new cryptocurrency travel rules that come into effect on September 1.

The rules for virtual asset service providers were first introduced by the U.K. FCA on Aug. 17 and ensure that U.K.-based VASPs will collect, verify and share information related to crypto asset transfers.

If inbound payments are received from individuals or entities in overseas jurisdictions that have not implemented the Travel Rules, VASPs must conduct a risk-based assessment of whether to provide crypto assets to beneficiaries.

After the market fell 10 hours ago, two giant whales jointly transferred 16,500 ETH ($27.2 million).

Whale 0x828 sold 12,000 ETH for 19.8 million USDC at an average price of $1,648 8 hours ago.

smartestmoney.eth deposited 4,500 ETH ($7.46 million) to Binance at a price of $1,657 5 hours ago. It is worth noting that these two whales have not performed well recently in the current market volatility.

According to the monitoring of Lookonchain, the giant whale, which lost $5.1 million due to long ETH, entered the market again yesterday at a price of $1,717 to do long ETH.

Due to the market drop last night, the giant whale increased its margin to avoid being liquidated, and it has lost about 1.1 million US dollars so far.

Among them, the liquidation price of BTC is $25,084, and that of ETH is $1,571.

A whale whose long ETH position was liquidated during the last two market crashes lost about $5.1 million. After the market rose yesterday, the giant whale once again entered the market at a price of $1,717 to do long ETH.

According to the latest data from CryptoSlam, NFT sales on the Bitcoin chain experienced a sharp decline in August, about $11.85 million, down 81.7% from $64.9 million in July, the lowest since March 2023.

In addition, in August, the number of NFT sales transactions on the Bitcoin chain was about 53,000, including 14,888 independent buyers and 11,614 independent sellers.

According to data from CoinGecko, the total market value of the U.S. dollar stablecoin BinanceUSD (BUSD) has fallen below $3 billion. At the time of writing this article, it was about $2.97 billion, and it has shrunk by more than 70% in the past six months.

Binance announced that it will gradually stop supporting BUSD, reminding users to convert BUSD to other stablecoins before February 2024.

Chainlink community ambassador ChainLinkGod.eth stated on the X platform (formerly Twitter) that Delivery vs Payment (DvP) is an important concept in the capital market. It is a guarantee that the transfer of securities and the corresponding payment occur at the same time, which can reduce the counterparty risk.

Banks and central banks are increasingly interested in issuing stablecoins and CBDCs, which may be launched using private chains.

Asset managers/owners must be able to freely use these cash tokens to purchase assets on other chains (including public chains), asset managers may hold tokenized assets on different public/private chains, but they still want trade with each other.

Cryptocurrency-focused attorney Jeremy McLaughlin believes the U.S. digital asset industry could rebound as U.S. securities regulators face court losses.

The U.S. Securities and Exchange Commission (SEC) has been working to shelve cases involving cryptocurrencies, which could create opportunities for growth in the digital asset industry if it continues to lose cases in court.

McLaughlin believes that the SEC will finally drop its lawsuit against Ripple, which could be a turning point for the future of the industry.

Senior ETF analyst Eric Balchunas wrote that analyst James Seyffart and I increased the probability of a bitcoin spot trading platform trading fund (ETF) launching this year to 75% (and to 95% by the end of 2024).

Elliott Z. Stein, senior litigation analyst, said that while we had incorporated Grayscale’s victory into our previous 65% probability forecast, the consistency and decisiveness of this ruling exceeded expectations.

This leaves the US Securities and Exchange Commission (SEC) with very little room for adjustment in this regard.