Musk briefly lost his title as the world's richest person to Oracle (ORCL.N) co-founder Larry Ellison. Following Oracle's strong earnings report Tuesday evening, Ellison's net worth surged by $89 billion on Wednesday, reaching $383.2 billion. Ellison is Oracle's largest individual shareholder. His surge in net worth briefly made him the world's richest person for a few hours on Wednesday, briefly surpassing Musk's wealth. However, by Wednesday's close, Musk's net worth was $384.2 billion, surpassing Ellison by $1 billion and reclaiming the title. (Jinshi)

U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins appointed a key member to his leadership team on Wednesday to head the department that reviews IPOs and corporate disclosures. The SEC said that James Moloney, a partner at Gibson Law Firm, will become the head of the SEC's Corporate Finance Division starting next month. Moloney worked at the SEC from 1994 to 2000, successively overseeing mergers and acquisitions and related work in the Corporate Finance Division. The Corporate Finance Division is responsible for reviewing financial reports submitted by companies to ensure that companies fully disclose potential risks to investors. The department also issues guidance on how to comply with SEC rules, such as executive compensation disclosures or reporting requirements for non-GAAP profit indicators. Moloney said in a statement: "There is a lot of work ahead, and I look forward to returning to the Corporate Finance Division and working with my colleagues to develop smart, pragmatic and effective regulatory rules to help companies grow and benefit investors."

At the OECD's Global Financial Markets Roundtable, Paul S. Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), stated that the SEC will modernize securities regulation through Project Crypto, clarifying the securities status of crypto assets and providing a clear regulatory framework for businesses engaging in on-chain financing, trading, staking, and lending. He emphasized that most crypto tokens are not securities, and that regulation will adopt a minimal interventionist approach to protect investors while encouraging innovation and competition. Atkins also noted that artificial intelligence (AI) will be integrated with blockchain to promote "intelligent agent finance," enabling automated trading, capital allocation, and risk management, improving market efficiency and reducing costs. He called for international cooperation, drawing on the experience of the EU's MiCA (Mechanical and Accounting Authority) to jointly advance digital asset regulation and financial innovation. The SEC's goal is to establish a world-leading crypto and AI financial ecosystem in the United States, creating more opportunities for investors and businesses.

The Polygon Foundation announced the completion of an update addressing transaction finalization issues. The hard fork has successfully completed, and milestone and state synchronization are now proceeding normally. Checkpoints are being processed, and consensus finalization for Polygon PoS has been fully restored. On the afternoon of the 10th, the Polygon Foundation stated: "There is a temporary delay in finalization. While the blockchain continues to operate and blocks and checkpoints are being generated, there is currently a 10-15 minute delay in transaction finalization due to the milestone issue. A solution has been found and is being deployed to all validators and service providers."

According to crypto journalist Eleanor Terrett, the release of a comprehensive "Crypto Market Structure Act" framework by US Senate Democrats today has sparked optimism among crypto industry insiders and some Republican leaders that reforming the cryptocurrency market structure may find a path to bipartisanship in the Senate. The detailed framework released by a coalition of 12 Democrats signals their readiness to join efforts previously driven primarily by Republicans to establish clear rules for the crypto market. Senator Cynthia Lummis, a key Republican driving force, praised this bipartisan effort. The Democratic framework is based on seven key pillars, aiming to clarify token jurisdiction, strengthen oversight of trading platforms and issuers, combat illicit financial activities and conflicts of interest, and provide regulators with more enforcement resources. These priorities overlap significantly with those emphasized by Republicans. The key to a bipartisan agreement lies in the details, particularly the disagreement over the extent of regulation. Republicans have historically favored lighter-touch regulations, while Democrats have favored stricter rules. As previously reported, the Senate Banking Committee is expected to mark up revisions to the market structure discussion draft by the end of September. At the same time, the Senate Agriculture Committee will also release a draft covering the CFTC regulatory section in the near future. It is expected that the market structure bill will be signed into law by President Trump before Christmas this year.

GMGN market data shows AOL breaking through 0.02 USDT, a 30% surge in a short period, and currently trading at 0.019 USDT. Odaily reminds users that Memecoin prices fluctuate significantly, so investors should be aware of the risks.

According to market news: The U.S. SEC has delayed approving BlackRock's application for the staking function of the spot Ethereum ETF.

According to market news: The U.S. SEC has delayed approving Franklin's spot XRP ETF application.

The Trump administration is appealing a court ruling blocking the removal of Federal Reserve Board Governor Tim Cook.

Coinbase announced that spot trading for Solayer (LAYER) will launch on September 11, 2025. The LAYER-USD trading pair will be available on or after 9:00 AM Pacific Time in supported regions, subject to liquidity conditions.

From buying dips during IPOs to driving the adoption of cryptocurrencies, retail investors are becoming increasingly influential.

The SEC announced a plan to create clear rules for crypto, saying most tokens are not securities and introducing a framework for unified regulation. The agency also supports “super-app” platforms that combine trading, lending, and staking under one licence to encourage innovation while protecting investors.

Binance.US, the American subsidiary of Binance, has slashed trading fees to nearly zero for more than 20 major cryptocurrencies—including Ethereum, Solana, BNB, and Cardano—as the exchange grapples with persistently low trading volumes, following the company's resolution of a high-profile SEC litigation in May.

Huobi Growth Academy's macro research report on the crypto market combines current employment and inflation data, as well as core indicators such as the price signals of the US dollar and gold, and puts forward the core judgment that "interest rate cut = conditional trigger rather than a single catalyst."

Bhutan’s cryptocurrency regulatory system reflects a combination of caution and openness to innovation, and its tax system is in a period of transition.

Moloney’s appointment signals the SEC’s intention to reshape the regulatory framework for cryptocurrencies as legislative changes loom.

BTC, Federal Reserve, interest rate cut, will Bitcoin appreciate after the rate cut? Golden Finance, the Federal Reserve's interest rate cut may not be the key driving factor for Bitcoin's rise.

Brian Quintenz, Trump's nominee for U.S. CFTC Chairman, has publicly accused the Winklevoss brothers, founders of the Gemini exchange, of interfering in his appointment process, saying they had contacted the president to request a suspension of his nomination.

Trump’s CFTC nominee, Brian Quintenz, released texts showing Tyler Winklevoss tried to influence his confirmation over a legal dispute between Gemini and the CFTC. Quintenz refused to make promises, and the messages emerged just before Gemini’s $3 billion IPO, raising questions about regulatory pressure from crypto executives.

Dogecoin has officially debuted its first ETF with the launch of the Rex-Osprey Doge EFT (ticker:DOJE), making it the third digital asset after Bitcoin and Ethereum to have its own ETF.