The Block's report on Sun Yuchen's withdrawal of BTC collateral from USDD, Sun Yuchen responded on Platform X: "USDD is a decentralized stablecoin protocol that has nothing to do with anyone's name, just like Satoshi Nakamoto created Bitcoin, but Bitcoin does not belong to Satoshi Nakamoto." Earlier, Tron DAO Reserve withdrew about $750 million worth of Bitcoin on Wednesday, which was previously used to support the USDD stablecoin. Tron founder Justin Sun said users don't need to worry and explained that this move was to improve capital efficiency, as the previous long-term collateralization rate for USDD exceeded 300%.

Federal Reserve Chairman Jerome Powell's announcement of rate cuts in the coming months has led to a rise in the price of Bitcoin, which briefly surpassed $62,000. Powell stated that the central bank is pleased with cooling inflation but is more attentive to growing weakness in the labor market. Ethereum and Solana also saw price increases of 2.7% and 2.1%, respectively. Traders are confident that the Fed will ease up in its inflation fight, with a 67% chance of a 0.25% rate cut in September according to CME Fedwatch. This is a developing story and will be updated with additional details.

Solana ecosystem trading aggregator Jupiter announced on X platform that Jupiter Lock, an open-source, free, and audited alternative solution, allows any project to gradually release its tokens for free over time. It has now entered the beta testing phase. On the locking page, you can browse the detailed breakdown of all tokens, their ownership schedule, recipients, and funding purposes. It brings certainty to holders and helps achieve consistency in long-term goals. The entire operation is transparent.

decentralized derivatives trading platform dYdX announced that it will launch an upgraded version called dYdX Unlimited in November. The upgrade will include permissionless market listings, MegaVault (which obtains liquidity from dYdX users and acts as a market maker for all dYdX Chain markets), and the Affiliates Program. The company also stated that it plans to release a series of other enhanced features in the coming months, including new integrations with popular wallets and third-party services, permission keys, instant deposits, and more innovative features.

March, El Salvador has purchased 162 bitcoins and currently holds 5,851 BTC.

WazirX has issued an important announcement regarding the next steps for Indian rupee and cryptocurrency withdrawals. For cryptocurrency balances, users will not be able to withdraw cryptocurrency from their platform accounts for a period of time due to network attacks and a large amount of balance loss caused by ERC-20 token theft. WazirX does not have enough token assets to repay the debt generated by the platform users' owed token balances. Subsequently, a bankruptcy restructuring application will be submitted to the Singapore High Court in order to obtain fair distribution of cryptocurrency assets according to the bankruptcy plan and user approval.For Indian rupee balances, WazirX will lift the suspension on INR balance withdrawals on August 26, 2024, and will gradually enable INR withdrawal functions. WazirX will reduce the withdrawal fee by 60%, from 25 rupees to 10 rupees.

Analyst Anna Wong said that in our opinion, Powell's statement sounded quite dovish. So far, he has not stopped the bet on a 50 basis point rate cut in September, has not indicated that rate cuts should be gradual, and has not used the phrase "methodical" like his colleagues to describe possible rate cut paths.

OpenAI has launched the SearchGPT plugin based on the Chrome browser. When users search for information in Chrome, the SearchGPT plugin can summarize the search results, answer follow-up questions, and personalize content recommendations.

According to an official announcement on August 23rd, Gate.io, as one of the official sponsors, once again focused global attention at the Coinfest Asia 2024 event. Mai Ngo, Gate.io's Southeast Asia representative, participated in the first panel discussion. She pointed out that Web3 is not only a technological advancement, but also a revolutionary change in the way brands interact with customers. She emphasized that the decentralized nature of Web3 provides brands with new interactive channels, allowing customers to participate and influence the direction of brand development. Mai Ngo also called on the industry to ensure the true decentralization of Web3, avoiding domination by big brands, and looked forward to the potential of AI technology in Web3, believing that AI will further enhance the interaction experience between brands and customers. She emphasized that brands need to use AI with caution to ensure that the technology application does not undermine the decentralization advocated by Web3.

Lookonchain monitoring shows that 12 hours ago, a whale once again purchased 34,807 SOL ($4.52 million). Since February 7th, this whale has withdrawn 206,951 SOL ($29.3 million) from Binance and MEXC at an average price of $142 and staked 115,135 SOL ($15.3 million).

On September 10th, mining company Compass Mining deployed 3,000 Bitcoin mining machines in its newly partnered Iowa hosting facility, with plans to install an additional 1,000 machines in September. This expansion will increase the facility's capacity by 12.5 megawatts (MW). According to Compass Mining, this move is part of its strategy to expand operations. By the end of 2024, the company plans to manage approximately 30 MW of power across multiple locations in the United States, including Indiana, Ohio, Nebraska, and Texas.

On September 10th, Santiment, a market intelligence platform, disclosed the recent positive changes in the Ethereum network on the X platform. According to data from Sanbase Pro, the growth level of the Ethereum network has significantly improved, indicating that cryptocurrency will become active again and is expected to have a bullish trend.

Lookonchain monitoring shows that 12 hours ago, a whale sold 20,000 SOL coins (worth $2.66 million). Since January 1st, this whale has sold a total of 715,000 SOL coins (worth $102 million) and still has 1.84 million SOL coins (worth $246 million) pledged.

On September 10th, Singapore's Deputy Prime Minister Heng Swee Keat announced that Singaporean police are investigating seven individuals suspected of providing Worldcoin account and token trading services. This investigation involves possible violations of the Payment Services Act of 2019, and the police have arrested five people.

On September 10th, Sushi announced that the release date of its new meme token launch product Dojo will be delayed by one week, with the new release date being September 17th.

On September 10th, Aave announced the deployment of the ether.fi weETH dedicated market on-chain, allowing users to borrow stablecoins using weETH. This is the second dedicated instance following Lido last month.

Wintermute extracted a total of 4.34 million NEIRO (approximately $736,000) from Gate within 24 hours. NEIRO is a meme token on the ETH platform. Currently, they hold 5.74 million NEIRO (approximately $957,000), which is 0.5% of the total supply.

Cross-chain interoperability protocol LayerZero has announced on Twitter that it has launched on the Unichain testnet. Developers and applications that connect to more than 90 chains can now explore Unichain through LayerZero. Earlier, Uniswap development team UniswapLabs announced the launch of its own L2 network, Unichain, which is built on Optimism's OPStack technology.

Tezos network equity holders Josh Jarrett and his wife Jessica Jarrett have once again filed a lawsuit against the US Internal Revenue Service (IRS) regarding the tax treatment of their tokens. In the latest lawsuit filed on October 10th in the Tennessee federal court, the Jarretts argued that the tokens they created through staking should be considered property and only taxable upon sale, not before. They believe that staking tokens involves creating a "new property" because no one else owned them before, making them similar to "a farmer's crop, a writer's manuscript, or a manufacturer's product" in that they do not generate any income before being sold.