Golden Morning News | Stoner Cats NFT creator agrees to settle with SEC

Headlines

▌****Stoner Cats NFT creator agrees to pay $1 million to settle with SEC

The creator of Stoner Cats agreed to pay $1 million to settle SEC charges that he offered NFTs that were actually unregistered securities.

Golden Finance previously reported that the U.S. Securities and Exchange Commission on September 14 accused Stoner Cats2 LLC (SC2) of conducting an unregistered crypto asset securities offering in the form of so-called NFTs, raising approximately US$8 million from investors to fund the for Stoner’s animated web series Cats.

Quotes

As of press time, according to coinmarketcap data:

BTC’s recent transaction price was US$26,533.2, with an intraday increase or decrease of -0.05%;

The recent transaction price of ETH was US$1,623.39, with an intraday increase or decrease of -0.41%;

BNB’s recent transaction price was US$216.37, with an intraday increase or decrease of +0.08%;

XRP’s recent transaction price was US$0.4928, with an intraday increase or decrease of -1.40%;

DOGE’s recent transaction price was US$0.0614, with an intraday increase or decrease of -0.84%;

ADA’s recent transaction price was US$0.2471, with an intraday increase or decrease of -1.08%;

MATIC’s recent transaction price was US$0.5175, with an intraday increase or decrease of -1.09%.

policy

▌John Deaton: The U.S. Department of Justice is taking selective enforcement to protect some entities related to major fraud committed by SBF

Attorney John Deaton, who represents numerous XRP token holders, has called on the U.S. Department of Justice (DOJ) to act in a compromising manner in the ongoing prosecution of FTX derivatives exchange co-founder and former CEO Sam Bankman-Fried (SBF) . As one of the strongest critics of government overreach in the digital currency ecosystem, John Deaton believes that the Department of Justice is engaging in selective enforcement to protect some entities associated with significant fraud perpetrated by SBF while still in charge of FTX affairs.

▌The U.S. House of Representatives Financial Services Committee will approve two bills to block a potential digital dollar in the United States on September 20

The U.S. House Financial Services Committee is advancing legislation aimed at preventing central banks from issuing digital currencies. According to an announcement from Chairman Patrick McHenry, the committee will take up two bills regarding a potential digital dollar on September 20. Markup is a meeting where lawmakers discuss the details of a bill. This is a critical step before the legislation reaches the House of Representatives.

One bill is the Digital Dollar Pilot Prevention Act (H.R. 3712), which prohibits the Federal Reserve from launching a pilot program to test a CBDC without congressional approval. The bill was introduced in May by Rep. Alex Mooney.

The second piece of legislation is an amendment to the Federal Reserve Act that prohibits Federal Reserve Banks from providing certain products or services directly to individuals and prohibits the use of CBDC for monetary policy and other purposes.

▌Europol warns of increasing criminal activity in DeFi and NFT sectors

Europol, the European Union’s law enforcement cooperation agency, recently published a European financial and economic crime threat assessment. The report highlights the complexity of financial and economic crime affecting the EU, such as money laundering, corruption, fraud, intellectual property crime and counterfeiting. The report stated,

Decentralized finance (DeFi) based on blockchain technology promises greater independence and security. However, the lack of regulation in this area leaves room for economic crime as criminals store illegal assets on DeFi platforms. Highly volatile cryptocurrencies are also targets of fraud schemes and money laundering activities.

NFTs are growing in popularity, but also attract fraudsters due to their instant transaction capabilities. Given the cross-border transaction characteristics of NFT, there is a huge risk of money laundering. Furthermore, the emergence of the Metaverse (a digital space for various activities) has been adopted by the financial sector and provides new opportunities for criminals. Cases of fraud and theft have been reported in the virtual universe, indicating an underlying trend of organized crime in this virtual environment.

In the face of these evolving financial and economic crimes, Europol emphasizes the need for proactive measures, international cooperation and leading criminal innovation to ensure the security and stability of the EU.

▌****U.S. federal prosecutors accuse SBF lawyers of trying to unfairly influence potential jurors in the case

Federal prosecutors have accused SBF’s lawyers of trying to unfairly influence potential jurors in the case. In a filing Friday, prosecutors for the Southern District of New York asked the judge overseeing the case to dismiss a series of questions the defense asked during preliminary examinations, the initial examination of jurors before trial. Prosecutors said the defense questions could delay the selection process and bias jurors against their client.

Prosecutors said it would also be inappropriate to suggest to potential jurors that news coverage or anything else gave the government an unfair advantage, or that the government should bear a higher burden of proof. Such questions are particularly unreasonable here because the defendant actively incited media coverage of himself and the case both before and after his arrest.

Blockchain Application

▌****Henan’s first Yuan Universe Fund has completed the registration scale of 150 million yuan

Henan Cultural Tourism Digital Technology Private Equity Investment Fund (Limited Partnership) completed the filing on September 12. Henan Cultural Tourism Investment Group once stated at the fund unveiling and strategic cooperation signing ceremony that the “Henan Cultural Tourism Digital Technology Private Equity Investment Fund” has a total scale of 150 million yuan and is the first Yuanverse fund in the Central Plains.

▌****The country’s first air-raid basement relocation construction fee blockchain business was launched in Xiongan New Area

Recently, State Power Investment Corporation Xiongan Energy Co., Ltd. completed the processing of air defense basement relocation construction fee business through tax blockchain technology, marking the first nationally promoted air defense basement relocation construction fee blockchain business in Xiongan New District Landed successfully.

The relevant person in charge of the Xiongan New District Taxation Bureau said that they will carefully learn and summarize the experience of pilot applications in typical scenarios of blockchain, and expand the application to other types of fees, strive for more innovative pilots to be tried first in Xiongan New District, and strive to create Xiong’an New District. Anxin District has a first-class tax and business environment.

▌****Zheng Zhiming, Academician of the Chinese Academy of Sciences: Web 3.0 is expected to creatively solve key issues such as Internet data ownership and value expression

Academician Zheng Zhiming of the Chinese Academy of Sciences said at the “2023 Web 3.0 Innovation Competition” that Web 3.0, as an important direction for the ecological evolution of the new generation of the Internet, is expected to creatively solve key issues such as Internet data ownership and value expression. The three major technologies of blockchain, privacy computing, and artificial intelligence are the core technologies of Web 3.0. As the trusted security base that supports Web 3.0, the blockchain and privacy computing fields face many challenges, requiring breakthroughs in blockchain system security, dynamic adaptive technology, privacy computing technology in untrusted environments, ultra-large scale, ultra-high efficiency and security Trusted application network and other key technologies.

▌****Meta invites Android users to test the Horizon Worlds web version of the metaverse platform now online

Horizon Worlds, Meta’s “Metaverse” platform, has recently begun inviting Android users to experience it first after launching a closed beta test on the mobile terminal in late August this year, and has launched a web version. Meta said it will launch an iOS version in the next few weeks. Meta plans to roll out more worlds over the coming months, allowing users to socialize with friends, attend comedy shows, attend free concerts and more, all accessible from any internet-connected device.

Cryptocurrency

▌** Liu Yuanchun, President of Shanghai University of Finance and Economics: The emergence of digital currency has brought about tremendous changes in the public goods attributes of world currencies**

Liu Yuanchun, President of Shanghai University of Finance and Economics, said at the China International Finance 30 Forum (15th) meeting on September 16 that there are many aspects that determine the dimensions of the monetary system, including: the scope of transactions in currencies and related economies, innovation Leadership, cultural leadership, provision of world public goods, security of currency-related economies, financial infrastructure transaction facilities and systems, currency digital development trends, etc. Future changes in the monetary system will not only depend on GDP, innovation centers, etc., but also on the development trend of currency digitalization. "Liu Yuanchun said that the emergence of digital currency has caused tremendous changes in the public goods attributes of world currencies, leading to mutations in some macroeconomic foundations that rely on traditional economic transactions, technological innovation, etc. Digital currency technology has the characteristics of decentralization, and its sovereignty Characteristics have been diluted.

▌Ripple Labs Engineer: Can provide liquidity for restricted tokens on XRPL

Ripple Labs engineer Neil Hartner shared one of the latest findings regarding the capabilities of the XRP Ledger (XRPL). Hartner stated that it is still possible to provide liquidity for restricted tokens on XRPL. By restricted tokens, he refers to digital currencies that require trust to authorize their use, and by allowing this, this feature makes the XRPL Automated Market Maker (AMM) a more flexible entity than any other in the industry today.

Hartner also described XRPL’s excellent liquidity rebalancing, which shows that the protocol is indeed one of its kind. Based on Hartner’s interactions with fans, Hartner introduced XRPL as a smart contract network that can accommodate users with different investment interests.

▌****ETH-based collateral value will reach $7.71 million

Curve website data shows that the minting quantity of Curve’s native stablecoin crvUSD is 112 million, of which the collateral value based on wstETH is US$84.92 million, the collateral value based on WBTC is US$63.68 million, and the minted collateral value based on sfrxETH is approximately 1323 million, the ETH-based collateral value is $7.71 million.

▌****Author of “Rich Dad Poor Dad”: Cryptocurrency is the future

Robert Kiyosaki, an American businessman and author of the best-selling book “Rich Dad, Poor Dad,” declared on X (formerly Twitter) that fiat currencies are “end” and that cryptocurrencies are the future.

Important Economic Updates

▌****The probability that the Fed will keep interest rates unchanged this week is 99%

According to CME’s “Fed Watch”, the probability that the Federal Reserve will keep interest rates unchanged at 5.25%-5.50% in September is 99%, and the probability of raising interest rates by 25 basis points to the range of 5.50%-5.75% is 1%; it will keep interest rates unchanged by November. The probability of change is 68.2%, the probability of a cumulative interest rate hike of 25 basis points is 31.5%, and the probability of a cumulative interest rate hike of 50 basis points is 0.3%.

Golden Encyclopedia

▌****Paper Wallet

In most specific meanings, a paper wallet is a file that contains all the necessary data used to generate Bitcoin private keys, forming a key wallet. However, people usually use the term to describe the way in which Bitcoins are stored offline in the form of physical files. The second definition also includes paper keys and redeemable codes.