headlines
Binance will automatically convert USDC, USDP, TUSD to BUSD
In response to the announcement that Binance will automatically convert USDC, USDP, and TUSD to BUSD, Jeremy Allaire, CEO of USDC issuer Circle, said that this move may lead to a gradual transfer of net shares from USDT to BUSD and USDC.
Industry news
Netflix, the US streaming giant, plans to launch its new ad tier in Australia by the end of the year and has begun discussions with local advertisers about plans to roll out ads that would be non-skippable and play before episodes or movies start, sources said . The service is expected to cost about $8, less than the price of a basic Netflix streaming subscription. Subscribers who pay full price do not have to view ads.
LG released LG Art Lab, an NFT market based on Hedera network, which supports the purchase of NFT on TV
Report: Short-selling Bitcoin investment products saw an inflow of $18 million last week
Short Bitcoin investment products saw a record $18 million inflow, bringing total assets under management to an all-time high of $158 million. Last week, the trading volume of digital asset investment products was 915 million US dollars, which was similar to the previous week and hit a multi-year low.
Project News
Billin Wallet: There is no such phenomenon as being unable to redeem or intervening in 3AC and causing losses. What is currently facing is only the problem of liquidity
Biyin Wallet issued an official announcement in response to liquidity issues.
The announcement stated: Due to the recent run-style cash withdrawals, our platform has temporarily encountered extremely difficult liquidity situations. We are doing our best to deliver a liquidity relief package. As it involves a large amount of statistical analysis of data, evaluation of technical details, and development work, the detailed plan will be announced within a week.
A note about funding:
1. The funds (currency standard) are safe and the assets are sufficient. There is no such phenomenon as being unable to redeem or intervening in 3AC and causing losses. What is currently facing is only the problem of liquidity.
2. In order to relieve liquidity, our platform will temporarily suspend cash withdrawal services from 22:00 on September 5, 2022 (GMT+8); some online services may not be available normally. At the same time, Poolin Wallet's official Telegram channel https://t.me/PoolinWalletCN will remain open and respond to your questions in a timely manner.
BendDAO liquidation threshold will be adjusted to 80%, and the auction cycle will still be 24 hours
StarkNet Alpha 0.10.0 has been released on the Goerli testnet
Binance Hires Former Brazilian Economy Minister as Advisor
Binance has hired former Brazilian economy minister and ex-central bank governor Henrique Meirelles as a member of its advisory board.
NFTGo released the NFT project DigiDaigaku data report, the total transaction volume since casting was 13.6 million US dollars, of which the largest transaction volume was on August 29, totaling 4.13 million US dollars. In addition, 67% of holders own 1 NFT, and 20% of holders hold 2-3 NFTs. The longest holding period is 7-30 days (about 75%), and 20.38% are held for 1-7 days.
Investment and Financing
Solana NFT project management tool provider Dust Labs announced the completion of a $7 million seed round of financing, Chapter One, Foundation Capital, Magic Eden, Hello Moon, Big Brain Holdings, Unlock Venture Partners, Metaplex, FTX Ventures, Jump Capital, Jupiter, Hyperspace, Solana Ventures, Mysten Labs, and Cymbal participated in the round.
Web3 incubator PANONY completed its A-round financing at a valuation of US$100 million. The financing amount was undisclosed, and NGC Ventures and others participated in the investment. The financing was used to expand into other jurisdictions, launch new service offerings and expand its network capabilities. CEO Tsai identified NFTs, DAOs, and DeFi as promising innovations. (Cointelegraph)
global policy
Chances of Fed hike of 75 basis points in September drop to 56%
According to CME Federal Reserve Observation: The probability of the Fed raising interest rates by 50 basis points by September is 44.0%, and the probability of raising interest rates by 75 basis points is 56.0%.
RBI to Launch CBDC Pilot, US Financial Firm FIS Participates
Singapore's DBS Bank plans to expand cryptocurrency business
