According to Bloomberg: Three Arrows Capital Co-Founder, Zhu Su, was arrested while attempting to leave Singapore and later sentenced to four months in prison, according to Bloomberg. The arrest came after he failed to adhere to a court order that mandated him to cooperate with an ongoing liquidation investigation managed by Teneo over a failed crypto hedge fund. Teneo, responsible for winding down the unsuccessful fund, stated it had obtained a commitment order against Zhu Su due to his non-compliance with the court's directive. This led to a custodial sentence of four months for the hedge fund co-founder. Zhu Su's arrest underscores the legal implications of non-cooperation with mandated investigations in the financial and crypto asset industry.

According to Cointelegraph, European cryptocurrency investment firm CoinShares has expressed optimism about cryptocurrency regulation in the United States as it enters the market. On September 22, the company announced the launch of its new division, CoinShares Hedge Fund Solutions, marking the first time it has introduced its offerings to qualified U.S. investors. This comes at a time when many U.S. crypto firms are considering expanding their businesses outside the country due to regulatory challenges at home. CoinShares believes that the U.S. is a global leader in digital asset development, contrary to the belief that the country lags in crypto adoption and regulation. A spokesperson for the company stated that the U.S. regulators' approach to treating digital assets similarly to traditional asset classes will encourage and expedite the fusion of the two industries. The spokesperson also noted that the U.S. is home to 50% of globally managed assets and is a dominant financial market. CoinShares CEO Jean-Marie Mognetti has previously declared that Europe's approach to crypto has been more problematic when compared to the financial might of U.S. institutions. However, the company remains committed to Europe, with its Hedge Fund Solutions registered in both the U.S. and the United Kingdom. CoinShares is a major provider of crypto exchange-traded products (ETPs) and debuted its first Bitcoin ETP in 2015. The firm has not yet disclosed whether it plans to join the spot Bitcoin ETF race in the United States.

According to CryptoPotato, a Shibarium Discord admin known as DaVinci has urged individuals to conduct proper research before believing rumors about partnerships involving Shiba Inu. DaVinci emphasized the importance of relying on verified sources to make informed decisions. DaVinci explained that there are many bad actors who use the Shiba Inu logo or the name 'Shibarium' to advertise illegitimate collaborations. The admin stated that genuine partnerships are only promoted and introduced through official channels, such as Shiba Inu's blog. They added that just because some team members share articles about certain projects does not mean it is an official partnership. DaVinci concluded by stressing the importance of 'Do Your Own Research' (DYOR) practices to avoid falling for malicious projects. This warning follows a similar alert from Shibarium's Marketing Strategist, LUCIE, who advised individuals to conduct proper due diligence before joining Shiba Inu's ecosystem. Shiba Inu developer Kaal Dhairya also warned users against buying or trading the Calcium token (CAL), as it was created solely for minting and renouncing BONE and will not have any future value.

According to CoinDesk, stablecoin issuer Circle Internet Financial has launched a smart contract codebase called Perimeter Protocol, designed to serve as an open-source foundation for building tokenized credit markets. The company stated in a blog post that Perimeter can support various credit use cases, such as invoice factoring, payroll advances, instant settlement for merchants, and credit trading for institutional investors. The protocol's white paper is publicly available, and developers can freely copy the codebase to build products on top of it. This release marks the first from Circle Research, the company's new division dedicated to open-source development. The introduction of traditional financial instruments like credit to blockchain-based applications, known as the tokenization of real-world assets (RWA), is gaining traction. Tokenization could disrupt existing financial systems by creating a more efficient and transparent system, according to a Bank of America report. Bernstein predicts that tokenized assets could grow to a $5 trillion market within the next five years. Stablecoins are essential for settling transactions in blockchain-based lending markets. By facilitating tokenization efforts and the development of decentralized finance (DeFi) credit platforms, Circle could increase the utility of its $26 billion USDC and euro-pegged token EURC. The company said in a blog post that stablecoins and USDC have provided great utility to developers, corporations, end-users, and more across various use cases, including global lending markets within DeFi. However, securely unlocking credit on-chain through safe standards and underwriting remains a significant barrier to entry for new participants in these markets. Institutional DeFi platform OpenTrade's yield-generating tokenized U.S. Treasury pool was the first offering developed using Perimeter.

According to CoinDesk, blockchain-based lending and yield platform OpenTrade has launched a tokenized U.S. Treasury bill pool. The offering is available to individual accredited investors, regulated institutions, companies, funds, and decentralized autonomous organizations. Third-party distributors can also integrate OpenTrade's pool and power their own white-labeled yield offering. Initial distribution partners, direct lenders, and liquidity providers include Enigma Securities, WOO X, Resonate, Kyber Network, and Sino Global Capital, with UK-based structured finance firm Five Sigma providing support for off-chain operations. Tokenization of real-world assets, such as government bonds, private equity, or credit, has become a popular trend in the crypto industry, with major banks exploring ways to leverage blockchain technology. U.S. Treasuries are considered a gateway for tokenization efforts due to their high yield and low-risk status. The tokenized treasuries market has grown sixfold this year to $668 million, with asset management firm Franklin Templeton being the largest player, according to data by rwa.xyz. OpenTrade's tokenized Treasuries pool was developed using Circle's Perimeter Protocol, an open-source codebase for on-chain credit facilitation, and is powered by the USDC stablecoin. Following the U.S. Treasury pool, OpenTrade plans to introduce various on-chain yield products, including investment-grade commercial paper and supply chain financing. Founders Dave Sutter and Jeff Handler explained in an interview that the opportunity for trade financing using blockchain rails is particularly attractive, as there is a $2.5 trillion unmet financing demand from market participants, according to a report by the Asian Development Bank. OpenTrade raised $1.5 million in venture capital funding earlier this year from Sino Global Capital, Circle Ventures, Kronos Research, Kyber Ventures, Outlier Ventures, and Polygon Ventures.

According to Cointelegraph, SBI Holding and UAE-based firm TradeFinex have formed a joint venture in Japan to promote the adoption of the EVM-compatible enterprise blockchain XDC Network for trade finance. TradeFinex operates a decentralized platform on the XDC Network, connecting trade finance originators with banks and lending institutions. The platform focuses on providing blockchain-based trade finance products such as invoicing, letters of credit, purchase order finance, and supply chain finance. The XDC Network is a layer 1 network featuring interoperable smart contracts and is described as a 'highly optimized, bespoke fork' of Ethereum. It uses a delegated proof-of-stake (XDPoS) mechanism to achieve fast transaction times, low gas fees, and high transaction per second capacity. The native XDC token serves as a reserve cryptocurrency for third-party decentralized applications running on the network and can be used for various purposes, including DApp payment settlements, micropayments, transaction costs, and smart contract deployment and settlement. TradeFinex has collaborated with the World Trade Organization, International Chamber of Commerce, and various government agencies to explore the potential of blockchain technology in improving the speed, transparency, cost, and traceability of trade finance. The joint venture aims to localize XDC Network information and documentation in Japan, distribute XDC tokens to local cryptocurrency exchanges, and deploy trade finance solutions across the Asia-Pacific region. This partnership follows recent reports that the Japanese government plans to allow startups to raise funds through the issuance of cryptocurrency tokens instead of conventional stock listings. Japan's Financial Services Agency also announced plans to amend its tax code related to cryptocurrencies in August 2023, potentially including exemptions from paying 'unrealized gains' tax on cryptocurrencies.

According to CryptoPotato, Ethereum (ETH) has seen a 4.8% gain in the past seven days, reclaiming its place within the ascending triangle. If buyers break the current resistance, the cryptocurrency could return on an uptrend and aim for $1,800 next. Ripple (XRP) has experienced a 7% increase this week, with buyers potentially dominating in the next few days. The cryptocurrency may attempt to break the key resistance next. Cardano (ADA) has reached the critical resistance at 25 cents, with a 2.7% price increase this week. If ADA manages to break away from the current resistance, it can quickly go to 28 cents next. Solana (SOL) has returned to the $20 resistance, booking a 2.2% price increase this week. Solana has a good opportunity to break above $20 and move to the following key resistance found at $22.5. Chainlink (LINK) has seen an impressive 14.4% price increase, making it the best performer on the list. The price has now reached the critical resistance at $8. If LINK breaks away from its range, it could signal a significant change in its market structure and attract significant buy pressure later.

Changpeng Zhao, CEO of Binance, has confirmed that the recently reported display glitch on the platform has been successfully rectified. In a message shared via social media, CZ expressed gratitude to Binance users for their patience and support during the brief period of troubleshooting. The reported display issue, which was non-transactional and did not affect trading, was swiftly identified and corrected by Binance's dedicated team of engineers. The quick resolution of this problem demonstrates Binance's commitment to maintaining a seamless trading experience for its users and its robust operational framework capable of addressing abrupt technical hiccups. With the issue now resolved, users can continue their trading and other activities on the platform as usual. CZ appreciated the understanding and support of the Binance community during this brief technical incident.  

According to CryptoPotato, Chainlink has seen a significant increase in value, with rising whale activity indicating a positive sentiment among its holders. In the past two weeks, whales have accumulated more than 7.5 million LINK tokens, worth around $53 million, even as several top crypto assets in the broader market flatlined. This accumulation trend suggests that LINK whales believe the token is undervalued at its current price and expect it to climb higher in the future. The increase in whale activity coincides with LINK's steady price appreciation over the past several weeks, with the asset gaining over 32% monthly and reaching $7.8. LINK is currently attempting to reclaim its 2023 peak near $8.5, a level that has proved to be a strong resistance area as the asset faced several rejections since April. Continued buying activity could potentially flip this long-running trend in favor of bulls. Another factor contributing to the newfound interest in the asset could be the development of Chainlink's Cross-Chain Interoperability Protocol (CCIP). The Web3 oracle service provider recently announced a successful experiment proving that CCIP can be used to facilitate cross-chain settlement using tokenized assets. The experiment showcased ANZ Bank, one of the largest banks in the world, and demonstrated how financial institutions can offer access to tokenized assets via blockchain technology. The Chainlink ecosystem aims to position CCIP as the "new gold standard" for interoperability and has launched the protocol across six networks – Ethereum, Polygon, Avalanche, Polygon, Optimism, Arbitrum, and Base.

According to Foresight News, the Hong Kong Securities and Futures Commission (SFC) has published several lists of virtual asset trading platforms on its website. These lists include: 1) 'Licensed Virtual Asset Trading Platform List': This list contains the names of virtual asset trading platform operators that have been officially licensed by the SFC. 2) 'Virtual Asset Trading Platform Applicant List': This list includes the names of virtual asset trading platform operators who have applied for a license but have not yet been approved by the SFC. 3) 'List of applicants whose license applications have been returned, rejected, or withdrawn': This list features the names of virtual asset trading platform applicants who have been removed from the 'Virtual Asset Trading Platform Applicant List' due to their license applications being returned, rejected, or withdrawn. 4) 'List of closed virtual asset trading platforms': This list provides the names of virtual asset trading platform operators that are required to close their businesses within a specified period according to relevant regulations. 5) 'List of virtual asset trading platforms deemed to be licensed': This list contains the names of virtual asset trading platform operators that are considered to be licensed as of June 1, 2024.

According to CryptoPotato, behavior analytics platform Santiment estimates that Bitcoin sharks and whales, defined as addresses holding between 10 to 10,000 BTC, now own over 66% of the circulating supply of the primary cryptocurrency. This is the highest level recorded in 2023 so far, with these investors being particularly active after BlackRock filed to launch a spot BTC ETF in the United States. Santiment revealed that the latest purchasing efforts displayed by Bitcoin sharks and whales started on September 28 when the cryptocurrency market showed signs of serious revival. The price of the leading digital asset is up 2.5% in the past 24 hours, while the second-largest cryptocurrency by market capitalization, Ether (ETH), has charted gains of approximately 4%. The platform also estimated that Tether sharks and whales have accumulated 'buying power' and currently hold 15.03B total coins, which is a six-week high. Large investors started purchasing BTC en masse in June, shortly after financial giant BlackRock displayed its intentions to introduce a spot Bitcoin ETF in the States. They bought over $2 billion worth of the asset between June 17 and July 10. Sharks and whales were also active last month when the crypto market experienced a severe correction, purchasing more than 11,600 BTC between August 17 and August 25.

According to CryptoPotato, Pepe Coin (PEPE), a memecoin that gained popularity earlier this year, has seen its price increase by nearly 32% in the past seven days and 10% in the last 24 hours. One possible reason for PEPE's surge is the overall revival of the cryptocurrency sector, with the global crypto market cap increasing by approximately 3% daily and most digital currencies experiencing significant gains. Another factor contributing to the memecoin's positive performance could be the activity of whales. Lookonchain revealed that two recently created wallets spent a total of over $800,000 to purchase 1.08 trillion PEPE coins. Additionally, another investor who previously profited more than $2.30 million from trading with the asset re-entered the ecosystem by buying PEPE worth $645,000. The Web3 data analysis platform also noted that this investor spent 550 ETH ($951,000) to buy 1.04 trillion PEPE on August 29. It should be noted that PEPE is not the only memecoin experiencing growth on September 29. ApeCoin, a cryptocurrency affiliated with the Bored Ape Yacht Club, is up over 10% daily and 12.5% on a weekly basis.

According to Cointelegraph, a nonfungible token (NFT) artist raised nearly $140,000 (114,000 British pounds) from an art event in Edinburgh, Scotland to support cancer treatment. Maggie’s Edinburgh, an institution dedicated to free cancer treatment, received the funds from Trevor Jones, a popular crypto artist from Scotland, who raised the money at a charity exhibition and auction at an annual Web3 Castle Party near Paris. The funds collected by Jones amounted to the highest single donation from an art event recorded in the Edinburgh Center’s 27-year history. A spokesperson representing Maggie’s Edinburgh attributed the success to the support and enthusiasm of the NFT art community. The total money raised from the fundraiser will go toward helping 4,000 people impacted by cancer and locals who need vital support. The exhibition held at Château de Vallery near Paris saw participation from 30 artists. Jones stated that the funds raised will make a huge difference and will go to support services for those affected by a cancer diagnosis, including patients and their families. NFTs have gained mainstream attention in 2021, and the sub-ecosystem has helped the community contribute to several philanthropic initiatives, including supporting mental health, protecting war victims, and aiding UNICEF initiatives. Major brands and government bodies have also opted for NFT and crypto donations to fuel various philanthropic initiatives.

According to Cointelegraph, a new bill introduced by U.S. Representative Don Beyer on September 28, the 'Off-Chain Digital Commodity Transaction Reporting Act,' aims to require cryptocurrency service providers to report all off-chain transactions to a repository registered with the Commodity Futures Trading Commission (CFTC). The legislation seeks to protect cryptocurrency investors from disputes, manipulation, or fraud potentially arising from off-chain transactions, which are not instantly logged on a blockchain but are processed through secondary layers, making them difficult to track. The bill highlights that thousands of transactions occur off-chain and are unrecorded on the publicly viewable blockchain due to the emergence of trading platforms and the desire to increase transaction times and lower costs. Beyer noted that internal record keeping among private entities can vary significantly, leaving investors and consumers vulnerable to fraud and manipulation. The bill aims to restore transparency and confidence in the digital asset market. Under the proposed legislation, crypto service providers would be required to report all off-chain transactions within 24 hours to a CFTC-registered trade repository. The requirements are similar to the rules for virtually all securities and swaps transactions. This comes as U.S. lawmakers have been increasingly focused on cryptocurrency regulations, with nine U.S. senators recently adding their support to Senator Elizabeth Warren's Digital Asset Anti-Money Laundering Act, which aims to crack down on noncustodial digital wallets and extend Bank Secrecy Act responsibilities, among other legal measures, to combat the illicit use of digital money.

The global cryptocurrency market cap now stands at $1.05T, up by 0.64% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $26,389 and $27,308 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $27,002, up by 2.31%. Most major cryptocurrencies by market cap are trading higher. Market outperformers include JST, FRONT, and MAV, up by 30%, 16%, and 14%, respectively. Top stories of the day: VanEck Set for Imminent Launch of Ethereum Futures ETF, Bloomberg Analyst Reveals Valkyrie Seizes First-Mover Advantage in Ether Futures via US-Based Combined Strategy ETF — Bloomberg Analyst Reports Market movers: ETH: $1672.87 (+3.43%) BNB: $216 (+1.55%) XRP: $0.5098 (+2.10%) ADA: $0.2517 (+2.82%) DOGE: $0.06169 (+1.55%) SOL: $20.17 (+5.38%) TRX: $0.08869 (+4.85%) DOT: $4.089 (+1.84%) MATIC: $0.522 (+2.80%) LTC: $65.79 (+3.14%) Top gainers on Binance: JST/BUSD (+30%) FRONT/BUSD (+16%) MAV/BUSD (+14%)

According to Cointelegraph, Nvidia, a global leader in artificial intelligence (AI) chip production, reportedly faced a police raid at its French offices this week. The raid was part of a general inquiry by French antitrust authorities into the cloud computing sector. The Wall Street Journal reported the raid, but neither Nvidia nor the French enforcement agencies have officially commented on the incident. A press release on the French antitrust agency, the Autorité de la Concurrence's webpage, refers to an unannounced inspection in the graphics cards sector. According to the release, a judge authorized the raid at the company's premises for allegedly implementing anticompetitive practices in the graphics cards sector. However, the agency clarified that the raid does not presuppose the existence of a breach of the law that could be imputed to the company. The Autorité de la Concurrence's opinion is based on a year-long study of the cloud computing sector, published in June 2023. The document does not mention Nvidia but focuses on other tech companies, such as Amazon Web Services (AWS), Google Cloud, and Microsoft Azure, which represent 80% of the spending growth in public cloud infrastructures and applications in France in 2021. The agency is considering various options provided by national competition laws and the European Data Act to combat this tendency. Nvidia's unique position as a hardware producer for the most innovative sectors of the digital industry has inevitably drawn the attention of regulators. The company's recent quarterly report revealed that US regulators asked it to curb exports of AI chips to some Middle East countries, but the US Department of Commerce denied this information a day later.

It was recently announced by Binance CEO Changpeng Zhao, through a social media update that the platform experienced a display-only issue. CZ made it clear that while the display encountered a problem, all trading operations remained unaffected and continued to function seamlessly. Stressing the specificity of the issue, CZ reiterated that the recently detected glitch was purely aesthetic and did not impact any transactional processes. This means that regardless of the visual hiccup, Binance customers were able to conduct their trading activities without interruption. Binance is known for its transparency and swift response to any technical obstacles, working meticulously to ensure the inconvenience caused to customers is minimal. Further communications about the correction of the display issue are expected from either CZ or the platform's tech team.  

According to CoinDesk, video game developer Epic Games is laying off approximately 16% of its employees, affecting 830 individuals, as the company transitions its popular online game Fortnite towards a metaverse-inspired ecosystem. CEO Tim Sweeney announced the layoffs in an email to employees on Thursday. Epic Games has been focusing on growing Fortnite as a metaverse-inspired ecosystem for creators, with the game's growth now primarily driven by creator content. This shift has resulted in lower revenue for the company, as the revenue is more distributed among creators. Sweeney admitted that he had been optimistic about avoiding layoffs during the transition, but now recognizes that this was unrealistic. The metaverse is a concept for a digital world where the internet becomes an immersive virtual environment that can be used for work, play, socializing, and events. While still in its early stages of development, Epic Games' announcement suggests that major video game developers are making strides to harness the potential of the metaverse.

Changpeng Zhao, Binance CEO, has assured users that a recently detected technical problem on the platform has been identified and is expected to be resolved within two hours. In a recent social media update, Mr. Zhao, also known as CZ, revealed that the root of the issue resides in some new code implemented on the platform, which will need to be reverted and fixed. CZ added that Binance's dedicated team of engineers have provided an initial Estimated Time of Arrival (ETA) for the resolution of the problem to be one hour. However, taking into consideration potential unforeseen complexities, CZ has cautiously adjusted this timeframe, suggesting that users should expect the fix to be fully implemented in around two hours. The prompt identification of the problem and swift issuance of the fix underscore Binance's commitment to providing a seamless service to its users. Further updates are expected to follow by CZ or the platform's tech team once the issue is rectified.        

Changpeng Zhao, CEO of Binance, recently addressed a display error on the platform concerning the Bitcoin U-based contract. In an update shared on social media, he emphasized that this was a UI-related issue affecting the aggregated K-line display and that there was no issue with the original K-line. In an effort to reassure users, CZ reiterated that despite this issue, trading operations on Binance remained uninterrupted. The raw K-line function via API was continuing to function correctly and all transactions were unaffected by this anomaly. CZ confirmed that Binance's team was actively working on fixing the display error on the UI aggregated K-line chart. This swift action demonstrates Binance's commitment to ensuring that its user experience remains as seamless as possible, even in the face of unexpected technical glitches.