Headlines

▌The U.S. Department of the Treasury Issues FAQs in Response to the Tornado Cash Sanctions Controversy

The U.S. Treasury Department released a new FAQ on Monday in response to the controversy over Tornado Cash sanctions. The U.S. Treasury Department said U.S. sanctions would not prohibit Americans from copyingopen-source code and making it available online for others to view, as well as discussing, teaching or incorporating open-source code into written publications, such as textbooks. The new guidance further outlines the application process for these users of cryptocurrencies stranded in Tornado Cash mixing pools. OFAC said that as long as the transaction does not involve other sanctionable conduct, OFAC will adopt a favorable licensing policy for such applications.

Cryptocurrency

▌Data:In the Past 24 Hours, the Entire Network Has Been Liquidated by 338 Million U.S. Dollars, and Bitcoin Has Been Liquidated by 124 Million U.S. Dollars

According to Coinglass data, in the past 24 hours, the entire network had a liquidation of US$338 million, including US$124 million in Bitcoin and US$119 million in Ethereum.

▌Binance: If Ethereum Forks to Generate a New Chain, It Will Support the Distribution of the Forked Token ETHW

Binanceannounced that it will suspend the deposit and withdrawal services of the Ethereum network (ERC-20) about an hour before the Ethereum merger occurs, starting about 08:30 on September 15, 2022. If a hard fork occurs and a new chain is created, the Ethereum PoW mainnet and its forked tokens will adopt the ETHW code. If the ETHW chain persists, Binance will assist all users who hold ETH and WETH in their Binance accounts with all technical requirements involved, and credit the forked token (ETHW) on a 1:1 basis to comply with conditional Binance account. Distribution details will be announced separately.

▌Bitfinex CTO: Ethereum Still Can’t Match Bitcoin After the Merge

Bitfinex and Tether CTO Paolo Ardoino said that Bitcoin is a form of money, but Ethereum is stuck between claims of being a form of money and claims of being a platform. ETH cannot compete with Bitcoin on the money front because there is no fixed supply, and it isn’t really a world computer yet because it has a shared global state and hence too slow to be scalable. The Merge will not fix transaction fees or make Ethereum any more decentralized.

▌Trust Wallet Adds Support for Solana dApps

Trust Wallet, a multi-chain non-custodial wallet, announced that it has added support for Solana dApps. Users can now connect their Trust Wallet directly through the dApp browser on iOS and Android, or by using the Wallet Connect protocol on their desktop.