Drug smuggling in South Korea is rising, with authorities pointing to the role of cryptocurrency and Telegram in facilitating non-face-to-face transactions.

According to Cointelegraph, the United States Securities and Exchange Commission (SEC) has reaffirmed its position on a rule that would limit crypto custody services for regulated financial firms. In a speech on September 9 at a banking conference, SEC chief accountant Paul Munter discussed the agency’s regulatory stance on accounting for crypto assets, particularly focusing on SEC Staff Accounting Bulletin No. 121 (SAB 121) and its applications. Munter stated that the SEC staff’s views in SAB 121 remain unchanged. He emphasized that, in the absence of specific mitigating facts and circumstances, the staff believes an entity should record a liability on its balance sheet to reflect its obligation to safeguard crypto-assets held for others. This stance was echoed by ETF Store President Nate Geraci, who noted in a September 10 post that the SEC appears firm on SAB 121, suggesting that the agency does not want to allow regulated financial institutions to custody crypto. Introduced in March 2022, SAB 121 outlines the SEC’s accounting guidelines for institutions looking to custody crypto assets. The rule has been contentious in political circles as it effectively prevents banks and regulated financial institutions from custodying crypto assets on behalf of clients. The SEC maintains that entities with such safeguarding arrangements should record a liability on their balance sheets for digital assets. Munter acknowledged that the SEC had reviewed various accounting scenarios involving blockchain and crypto assets, noting that not all arrangements fit the proposed guidelines set out in SAB 121. For instance, bank holding companies that safeguard crypto with bankruptcy protection may not need to record a liability on their balance sheets. Additionally, broker-dealers that facilitate crypto transactions but do not control the cryptographic keys may also not be required to record liabilities. Meanwhile, SEC Commissioner Hester Peirce has been vocally against the rule. She expressed her continued concern about the substance and process of SAB 121 in a recent post. The US House of Representatives voted to overturn the controversial SEC guidance in May, but President Biden vetoed the repeal the following month.

As the platinum sponsor of the TOKEN2049 Singapore Conference, CoinW will appear together with UAE government partners, including the Dubai Blockchain Center, the Middle East Ministry of Economy, and the Dubai Digital Economy Chamber, to jointly promote the development and innovation of the crypto ecosystem in the Middle East. It is reported that CoinW President Sonia Shaw will hold a panel discussion with industry leaders to explore the opportunities and challenges of the crypto industry. In addition, CoinW will also hold a grand "Legend Party" at Tipsy Unicorn Beach in Sentosa, Singapore on September 19. The top music label 88Rising will be the music and art partner, and its K-pop artist LØREN and the band will bring exclusive performances to the audience to add to the fun of the event.

QCP Capital's latest report points out that the cryptocurrency market has stabilized after last week's volatility, but implied volatility remains high. The market remains vigilant about major events that will take place this week, especially the Trump-Harris debate and the release of CPI data. Affected by the sharp decline last week, the market remains cautious about downside risks, and risk reversals for Bitcoin and Ethereum still favor put options until October. Despite many uncertainties and price fluctuations in the short term, QCP remains structurally bullish.

Coinbase's Ethereum Layer2 network Base has recently achieved remarkable results, highlighting the key role of marketing strategies in the development of blockchain projects. According to data in a blog post released by Coinbase, its "Onchain Summer" event attracted more than 2 million independent wallets to participate, generating more than $5 million in minting income for creators. Although Base is not the industry leader in technological innovation, it has leapt to become the second largest Layer2 network with a market share of 18%, second only to Arbitrum One, thanks to Coinbase's marketing resources and user base. The success of Base is mainly attributed to the following factors: Coinbase's ample marketing budget, simplified user entry process, and support for meme coin transactions. However, industry experts point out that there is still uncertainty about the long-term sustainability of Base, especially the user retention rate after the promotion ends. It is worth noting that Coinbase's first quarter 2024 financial report shows that "other" transaction revenue, including Base sorter fees, reached $52.5 million, reflecting the commercial potential of the project. (Coindesk)

استقرار أسعار النفط في التعاملات المبكرة يوم الثلاثاء حيث وزن المستثمرون تأثيرات تعطل الإمدادات الناتجة عن العاصفة الاستوائية فرانسيسين وإمكانية خفض الإنتاج بشكل أكبر مقابل الطلب الصيني الضعيف المستمر. ارتفعت عقود خام برنت الآجلة بمقدار 16 سنتًا، أو 0.22%، لتصل إلى 72.00 دولارًا للبرميل بحلول الساعة 00:04 بتوقيت غرينتش، بينما ارتفعت عقود خام غرب تكساس [...] source: https://www.twsiat.com/%d8%a3%d8%b3%d8%b9%d8%a7%d8%b1-%d8%a7%d9%84%d9%86%d9%81%d8%b7-31/

According to Cointelegraph, decentralized finance (DeFi) network Kujira and several of its major ecosystem projects have agreed to merge into a single entity called the 'Rujira Alliance' to build a new application layer for the cross-chain liquidity protocol THORChain. The new application layer is envisioned as a significant DeFi project that could potentially rival Solana, according to THORChain founder John-Paul Thorbjornsen, also known as 'JP THOR.' Thorbjornsen stated in a Sept. 10 post that the project would feature a 'combined treasury' and that he would lead the project for the foreseeable future, allowing the Kujira team to focus on developing the Rujira app layer. Thorbjornsen emphasized that the new app layer would offer a comprehensive suite of DeFi products, including order books, perpetual contracts, a token launchpad, non-fungible tokens (NFTs), lending, and money markets. These products will be integrated with eight different blockchain networks. He also noted that THORChain had addressed the issue of maximum extractable value (MEV) by splitting income between consensus and liquidity, resulting in a better user experience with no MEV on THORChain. Kujira merged with three key ecosystem partners—Fusion, Unstake, and Wink—to create the Rujira Alliance. The new app layer will be powered by a new token called RUJI. The merge will not affect the functionality of Kujira’s existing KUJI token or its native blockchain network, as merging into RUJI will be entirely voluntary. Kujira faced controversy on Aug. 2 when its founding team revealed liquidity issues stemming from exploits, socially engineered attacks, and ecosystem fallouts. This led to a 70% drop in the value of its native KUJI token within 24 hours. As of now, the KUJI token is trading at $0.38, down 13% on the day and over 91% from its all-time high of $5.56 recorded on Dec. 13 last year. Following the announcement of the new app layer, THORChain’s native RUNE token rallied by as much as 8%, rising from $3.60 to $3.89. THORChain, a layer-1 blockchain and decentralized exchange (DEX), focuses on facilitating asset swaps across layer-1 blockchains. It was launched in June 2022 and is built on Cosmos-SDK and Tendermint.

In the past 24 hours, Bitcoin and Ethereum rose by 1.32% and 1.04%, respectively, and the prices stabilized around $55,100 and $2,312, showing obvious short-term support levels. At the same time, the U.S. unemployment rate in August was in line with expectations, and the non-farm payrolls data was slightly lower than expected, which increased the probability of the Fed's interest rate cut in September to 70%. In terms of blockchain industry dynamics, Ether.fi's revenue in August reached $2.19 million, of which 5% will be used to repurchase ETHFI and LP mining; OORT updated the token economic model and extended the team token unlocking period to six years to enhance decentralization and transparency. Fractal Bitcoin also went online on the mainnet and announced the token economic model. 80% of the tokens will be allocated to the community. The overall market sentiment tends to be cautious, and the three major U.S. stock indices all fell, and the fear and greed index fell to 29, indicating that the market is in a state of panic. In addition, popular tokens such as BTT, CVC and AVAX have increased by 17.9%, 15.0% and 5.6% respectively in the past 24 hours, showing a certain degree of activity. Overall, the market is fluctuating and adjusting at the support level, and investors need to pay close attention to future policy changes and market trends.

DeFi project Kujira merged with three ecosystem partners to create an alliance to build THORChain’s app layer, backed by a new token. source: https://cointelegraph.com/news/kujira-forms-alliance-to-build-thorchain-app-layer?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

تستعد الأسواق الأوروبية لافتتاح مختلط اليوم، حيث يسود الغموض ويؤثر على معنويات المستثمرين. ومن المتوقع أن يبدأ مؤشر فوتسي البريطاني بارتفاع قدره 19 نقطة ليصل إلى 8,243 نقطة، فيما يتوقع أن يصعد مؤشر داكس الألماني 35 نقطة إلى 18,464 نقطة. أما مؤشر كاك 40 الفرنسي فمن المرجح أن يرتفع بمقدار نقطتين ليصل إلى 7,421 نقطة، [...] source: https://www.twsiat.com/%d8%aa%d8%b3%d8%aa%d8%b9%d8%af-%d8%a7%d9%84%d8%a3%d8%b3%d9%88%d8%a7%d9%82-%d8%a7%d9%84%d8%a3%d9%88%d8%b1%d9%88%d8%a8%d9%8a%d8%a9-%d9%84%d8%a7%d9%81%d8%aa%d8%aa%d8%a7%d8%ad-%d9%85%d8%ae%d8%aa%d9%84-3/

According to BlockBeats, on September 10, Franz Bergmüller, CEO of Swiss-based crypto bank Amina, announced that the company is applying for a Virtual Asset Service Provider (VASP) license from the Austrian Financial Market Authority. Bergmüller emphasized that before Amina can operate or generate revenue in Austria, a new team must be established. Bergmüller stated, 'As a bank, we are approaching breakeven, but we have deliberately decided to prioritize investment growth at this stage.' Amina, formerly known as SEBA Bank, was headquartered in Zug, Switzerland, in April 2022.

It seems that every time the market goes bad, some projects or institutions will be "attacked". Unexpectedly, this time it is the turn of "Ethereum", which has always ranked second in market value.

Elon Musk said the United States is rapidly going bankrupt and interest payments on the national debt just exceeded the defense budget.

"Mothernet," directed by Ho Wi Ding, is a drama about a boy using AI to reconnect with his comatose mother, set in a near-future Indonesia. Starring Dian Sastrowardoyo and Ringgo Agus Rahman, it combines Indonesian and Singaporean production efforts and is set for a 2025 release.

iPhone 16 has been released. Compare the purchasing power of iPhone and BTC over the years and review the explosive performance of Bitcoin since its birth.

BTC, Viewpoint: BTC has surpassed the US stock market since the decoupling of the US dollar and gold in terms of trading time. Golden Finance, You can say that Bitcoin is older than the stock market in the era of full fiat currency

Pencils Protocol is the leading DeFi protocol in the Scroll ecosystem, providing a complete suite of DeFi solutions designed to increase the value and utility of the Scroll Network built on breakthrough ZK technology.

PIN AI secures $10 million in funding to develop an open-source AI platform, aiming to shift data control from big tech to users, with backing from leading industry investors.

In addition to speculation about interest rate cuts, other factors causing volatility in the Crypto asset market include the upcoming US election.

A settlement reached with GS Partners ensures full refunds for investors in five U.S. states, though further legal actions may still follow.