Polymarket may raise more than $50 million AI may solve climate problems

Headline

▌Prediction platform Polymarket considers launching over $50 million in token financing

According to sources, decentralized crypto prediction platform Polymarket is considering raising more than $50 million through token issuance to support its platform operations. Investors in this financing will receive token warrants, and if tokens are issued in the future, investors have the right to purchase tokens. However, Polymarket has not made a final decision, and there is still no clear timetable for token issuance. In May of this year, Polymarket completed a $45 million Series B financing led by Peter Thiel's Founders Fund. Other well-known investors include Ethereum co-founder Vitalik Buterin. The platform has currently attracted nearly $1 billion in bets, focusing mainly on major events such as the 2024 US presidential election.

▌OpenAI CEO Sam Altman predicts AI will bring unprecedented prosperity and solve climate problems

OpenAI co-founder and CEO Sam Altman published a blog post on September 23, saying that mankind is about to enter the "intelligent era" and AI technology will bring unimaginable prosperity. Altman said that AI will not only accelerate scientific progress, but will also gradually solve global problems such as climate change, and may achieve the establishment of space colonies and reveal all the mysteries of physics within a few decades. He optimistically predicted that future AI systems will have super self-evolution capabilities, making human technological breakthroughs "commonplace." Altman believes that the arrival of this era will bring great prosperity and change our way of life.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $63,374.96, with a daily increase or decrease of -0.1%;

ETH's latest transaction price is $2,649.10, with a daily increase or decrease of +2.7%;

BNB's latest transaction price is $605.10, with a daily increase or decrease of +2.8%;

SOL's latest transaction price is $144.85, with a daily increase or decrease of +0.3%;

DOGE's latest transaction price is 0.1081 US dollars, and the intraday change is +0.9%;

XPR's latest transaction price is 0.5852 US dollars, and the intraday change is -0.3%.

Policy

▌More than 40 US Republicans call on SEC to repeal SAB 121

Patrick McHenry, chairman of the U.S. House Financial Services Committee, Senator Cynthia Lummis and 40 other politicians wrote to SEC Chairman Gary Gensler on September 23, saying that SAB 121 subverts cryptocurrency custody rules, weakens consumer protection, and stifles financial innovation.  

The 42 politicians also claimed that SAB 121, a proposed rule that would require SEC reporting entities that custody cryptocurrencies to record those holdings as liabilities on their balance sheets, was issued without consulting any “prudential regulators” and that the accounting method “deviates from established accounting principles.” The politicians also slammed the SEC’s Office of the Chief Accountant for working with certain agencies to circumvent balance sheet reporting requirements — which threatens to create inconsistencies across the board.

▌Mango Markets Proposes $500,000 Settlement with CFTC, Still Needs Community Vote to Approve

Decentralized crypto exchange Mango Markets is considering a $500,000 settlement with the U.S. Commodity Futures Trading Commission (CFTC). The exchange faces CFTC charges for not registering as a commodity exchange, illegally serving U.S. users, and failing to conduct customer identity verification. Mango Markets’ legal representatives have proposed to avoid the lawsuit by paying a fine, but without admitting or denying any wrongdoing.  

The proposal needs to be voted on by MNGO, the holder of Mango Markets’ governance token, and current results show that it is likely to be approved. In addition, the CFTC commissioners also need to approve the agreement. Previously, Mango Markets also reached a settlement with the US Securities and Exchange Commission (SEC), paying a fine of approximately $700,000.

Blockchain Applications

▌Siemens uses JPMorgan Chase Onyx blockchain to settle digital commercial paper

German industrial giant Siemens successfully issued and settled 100,000 euros worth of digital commercial paper through JPMorgan Chase’s Onyx blockchain platform and SWIAT’s private blockchain. The transaction was conducted under the German Electronic Securities Act (eWpG), with the payment made using JPMorgan Chase’s JPM Coin System, and the asset transfer was completed through the delivery-versus-payment (DvP) mechanism of the SWIAT network. The entire process took only 93 seconds, marking the start of Onyx and SWIAT’s cooperation in developing digital asset issuance products for commercial banks.  

The move aims to shorten the value chain, improve transaction flexibility and speed, and promote the large-scale application of blockchain in financial transactions.

▌BlackRock verifies Bitcoin holdings through blockchain nodes to ensure the security of ETF assets

According to Eric Balchunas, a well-known ETF analyst, BlackRock, a global asset management giant, extracts the balance of its Bitcoin address from Coinbase Prime through its own blockchain node every day to verify the Bitcoin holdings of its spot Bitcoin ETF. Although this data is only available to institutional clients, BlackRock has won widespread trust with its 30-year flawless record. Unlike crypto platforms such as FTX, BlackRock's ETF system is highly transparent, secure, and has always followed a strict custody process.  

Although some markets have questioned the transparency of its Bitcoin transactions, Balchunas emphasized that BlackRock ensures the security of assets and the trust of customers through self-custody and blockchain verification.

Cryptocurrency

▌OpenAI’s news account on the X platform was hacked and published fake cryptocurrency information

OpenAI’s official news account was hacked on the X platform and published information about the fake cryptocurrency “$OPENAI”. The post claimed that the token “connects artificial intelligence and blockchain technology” and encouraged all OpenAI users to claim part of its initial supply. However, $OPENAI does not exist, and the post link points to a phishing website that imitates OpenAI’s official website in an attempt to steal users’ login credentials. The “Claim $OPENAI” button on the website induces users to connect their crypto wallets. The false information has not been deleted, and the comment function has been disabled, which increases the concealment of the scam. This is not the first time OpenAI has suffered such an attack. As early as June 2023, its CTO’s account also published similar information about fake tokens. OpenAI has become the target of multiple phishing campaigns, and users need to be vigilant to avoid being deceived.

▌Celestia Foundation Completes $100 Million Financing

Celestia Foundation, the team behind the Celestia blockchain network, announced the completion of $100 million in financing, led by Bain Capital Crypto, followed by Syncracy Capital, 1kx, Robot Ventures, Placeholder, etc., which brings the total financing amount of the project to $155 million.

▌DTCC and Digital Asset Complete U.S. Treasury Tokenization Pilot to Improve Settlement Efficiency

Blockchain solutions provider Digital Asset and the Depository Trust & Clearing Corporation (DTCC) recently completed a pilot project for the tokenization of U.S. Treasury collateral on the Canton network. The project involved 26 market participants and completed 100 transactions, aiming to improve settlement speed, protect privacy and comply with legal requirements.  

In the pilot, participants converted U.S. Treasury bonds (UST) into "digital twin" tokens and applied them to multiple scenarios, including trading, collateralization and default processing. The system can complete asset transfers instantly when a margin call occurs, and all transaction processes can be tracked and audited. Even in the event of an investor default, the parties involved can quickly transfer assets in accordance with the law to ensure transaction security.  

This project demonstrates the technical advantages of the Canton network, especially innovations in transaction privacy and legal compliance, and promotes the application of tokenized assets in financial markets.

Important Economic Dynamics

▌The probability of the Federal Reserve cutting interest rates by 25 basis points in November is 45.2%

According to CME's "Fed Watch", the probability of the Federal Reserve cutting interest rates by 25 basis points by November is 45.2%, and the probability of a 50 basis point cut is 54.8%. The probability of a cumulative 50 basis point rate cut by December is 23.4%, the probability of a cumulative 75 basis point rate cut is 50.2%; the probability of a cumulative 100 basis point rate cut is 26.5%.

▌Wall Street Strategist Yardeni: Fed rate cut increases the possibility of a stock market "melt-up"

Wall Street strategist Ed Yardeni said that U.S. stocks are likely to soar to new highs thanks to the Fed's sharp rate cut last week, but if Fed officials do not act cautiously, it may also lead to the re-emergence of inflation. The latest policy decision raises the probability of a "complete melt-up" in stock prices - like the 220% surge in the S&P 500 from 1995 to the end of the last century during the Internet bubble - from 20% to 30%. He believes that the probability of a bull market is 80%, and the other 20% is similar to the situation in the 1970s, when global stock markets were turbulent due to inflation and geopolitical tensions. However, if things start to get too hot, there will be broader risks. "If they overheat the economy and create a bubble in the stock market, then they're going to cause some problems," said the Yardeni Research Inc. founder. He added that the Fed is ignoring the upcoming U.S. presidential election, where both candidates have floated policy ideas that could stoke inflation.

Golden Encyclopedia

▌What is Algorithms of Thought (AoT)?

Algorithms of Thought (AoT) is a groundbreaking approach in the field of artificial intelligence (AI) that revolutionizes the way AI models think and reason. Developed by Microsoft Research, AoT introduces a new paradigm for Large Language Models (LLMs) to enhance reasoning capabilities to solve complex problems. It aims to combine the best of both worlds: a nuanced, intuitive understanding of the human thought process with the structured, systematic nature of an algorithmic approach.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.