SOLUSD Solana

Worldcoin integrates World ID with Solana via Wormhole

On Friday, Worldcoin (COIN:WLDUSD) announced the integration of World ID with the Solana blockchain through Wormhole Foundation’s cross-chain protocol. The World ID, based on Ethereum layer 2, allows privacy-focused identity verification for decentralized applications (DApps). This integration enables Solana developers to implement secure, Ethereum-compatible authentication. The Wormhole Foundation completed the bridge between platforms just two months after receiving a community grant, strengthening trust in decentralized ecosystems and expanding World ID’s usage.

Coinbase’s cbBTC surpasses $100M in 24 hours but faces criticism

Coinbase’s (NASDAQ:COIN) cbBTC, a wrapped Bitcoin, quickly surpassed $100 million in market cap within its first 24 hours. With 1,720 tokens circulating, 43% are on the Base network, and 57% on Ethereum. Analysts believe cbBTC could boost DeFi on Base, Coinbase’s layer 2 network, with potential to integrate large BTC holdings. However, Justin Sun, founder of TRON, criticized the token, calling it “central bank BTC” due to the lack of audits and risk of government intervention, raising decentralization concerns.

SEC expands lawsuit against Binance, adding new tokens as securities

The SEC expanded its lawsuit against Binance, including new tokens as securities, such as Axie Infinity (COIN:AXSUSD), Filecoin (COIN:FILUSD), Cosmos (COIN:ATOMUSD), Sandbox (COIN:SANDUSD), and Decentraland (COIN:MANAUSD). Binance and its affiliate, BAM Trading, are accused of facilitating the trading of unregistered securities and promoting these assets to customers. The SEC also reiterates that Binance illegally operated as an unregistered broker and exchange, failing to provide proper disclosures on the risks and legality of these tokens.

UK court recognizes Tether’s USDT as property

The UK’s High Court of Justice ruled that Tether’s (COIN:USDTUSD) stablecoin can be considered property, allowing for its tracing and treatment as fiduciary. The decision came during a case filed by Fabrizio D’Aloia, who alleged a $3.3 million loss in a crypto scam involving USDT and USD Coin (COIN:USDCUSD). The UK government also introduced a bill to regulate the legal status of cryptocurrencies, reinforcing stablecoins as property under English law. Tether also hired Jesse Spiro, former PayPal and Chainalysis blockchain executive, to lead its government relations team.

Bitcoin nears $60,000, fueled by Fed expectations and gold surge

On Friday afternoon, Bitcoin’s (COIN:BTCUSD) price neared $60,000, up 3.1% at $59,920 at the time of writing. Meanwhile, gold (PM:XAUUSD) rose 0.95% to $2,582.21 per ounce, hitting a record high of $2,586.03 earlier. BTC rebounded after U.S. macroeconomic data hinted at potential Federal Reserve interest rate easing. Traders’ optimism fueled the price action, with predictions of a significant breakout if Bitcoin holds critical support levels like $58,150. U.S. stocks also saw marginal gains, reflecting positive sentiment in risk markets, with the Dow Jones, S&P 500, and Nasdaq up 0.90%, 0.71%, and 0.83%, respectively.

On September 12, U.S. Bitcoin spot ETFs saw net inflows of $39.02 million, reversing outflows from the previous day. ARK 21Shares (AMEX:ARKB) led the day’s inflows with $18.3 million after facing $54 million outflows on Wednesday. Fidelity’s ETF (AMEX:FBTC) attracted $11.5 million in new inflows and was the only ETF to record net inflows for four consecutive days, totaling an impressive $115.9 million during the period.

In contrast, Ether ETFs suffered their second consecutive day of outflows, with $20.14 million on Thursday and $542,000 on Wednesday. Ether spot ETFs had a cumulative net outflow of $582.74 million.

Anatoly Yakovenko criticizes ZKsync governance

Anatoly Yakovenko, co-founder of Solana (COIN:SOLUSD), criticized ZKsync, an Ethereum layer 2, for still operating with multisig, despite claiming decentralized governance. Multisig requires multiple signatures from different parties to authorize blockchain transactions. Yakovenko argued that the network’s control could be legally compromised, as token holders and the security council could be forced to act under court orders. Matter Labs, creators of ZKsync, responded, stating that the network is progressing toward full decentralization with a new governance structure involving Token Assembly, the Security Council, and Guardians, to prevent unilateral control.

Polygon’s POL token rises after migration and Binance listing

Polygon’s POL token saw an 11.6% increase at the time of writing, trading at $0.4192, after reaching an intraday high of $0.4467, driven by the addition of spot and perpetual contracts for the token on Binance. The update marked the migration from the old MATIC to POL. The rebranding, accompanied by a new 2% annual issuance, attracted traders’ attention. “The full spot migration from MATIC to POL has occurred, but new charts are more important. This is the first successful migration of a large token we’ve seen in a while, and we expect other projects to follow,” DeFiyst analyst highlighted.

TON and Tada partnership enables crypto payments for rides in Singapore

The TON Foundation announced a partnership with ride-hailing app Tada, enabling users to book rides and pay with cryptocurrencies such as Toncoin (COIN:TONCOINUSD) and Tether (COIN:USDTUSD). Using a Telegram Mini App, users can schedule rides directly on the platform in Singapore. 4,000 free rides were offered to participants. Tada, operating in multiple countries with a zero-commission policy, also offers competitive pricing. The collaboration was promoted during the Token2049 event and could accelerate Web3 solutions adoption.

MicroStrategy buys 18,300 Bitcoins for $1.11 billion

MicroStrategy (NASDAQ:MSTR) acquired 18,300 Bitcoins for approximately $1.11 billion between August 6 and September 12, marking its largest purchase since 2021. The company now holds 244,800 Bitcoins, valued at around $14 billion. Led by Michael Saylor, the company’s strategy aims to hedge against inflation, using capital raised through stock issuance. MicroStrategy’s shares rose 6.4% during Friday’s trading after the announcement.

Kraken requests jury trial in response to SEC lawsuit

Kraken requested a jury trial after the SEC’s lawsuit accusing it of operating an unregistered securities exchange. The exchange denied any wrongdoing and criticized the SEC’s approach, emphasizing its attempts to cooperate with the regulator. Kraken challenges the classification of certain digital assets as securities and argues that the SEC provided no clear warning regarding the illegality of its actions, contesting the Commission’s authority and interpretation of the law.

HTX integrates Bitcoin Lightning Network for fast, cheap transactions

HTX, one of the largest exchanges globally, announced its partnership with IBEX to integrate the Bitcoin Lightning Network. HTX plans to use Lightning to accelerate transactions and reduce costs for its more than 45 million users. The second-layer protocol will allow near-instant payments and withdrawals with lower fees, reinforcing Bitcoin as an efficient solution for global transactions.

North Carolina Senate bans payments with CBDCs

The North Carolina Senate overruled the governor’s veto, passing a law prohibiting the state from accepting central bank digital currencies (CBDCs). The law also prevents the Federal Reserve from testing a digital dollar in the state. This measure is symbolic, highlighting concerns about privacy and sovereignty. Critics argue that the ban raises questions about its impact on financial innovation and its legality.

Odds of Donald Trump launching a token before election rise to 84% on Polymarket

Bets on Polymarket about Donald Trump launching a token before the election rose to 84% after he confirmed the launch date for the World Liberty Financial project. Chances of a “yes” in the betting market jumped from 40% to 84% in just one day. For the market to resolve as “yes,” a real token must be issued and verified on a blockchain by November 4, 2024.

Coinbase backs Creator Defense Fund with $6 million to tackle regulatory challenges

Stand With Crypto Alliance, supported by Coinbase (NASDAQ:COIN), launched the Creator Defense Fund, raising $6 million from Andreessen Horowitz (a16z) and OpenSea to support blockchain creators. The fund provides legal assistance to face regulatory threats, such as the recent SEC Wells Notice to OpenSea. The initiative aims to protect artists using NFTs to monetize their creations, ensuring that technological innovations can thrive without fear of legal repercussions.