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ZachXBT Slams zkSNARKs: Calls It an Ordinals Scam, Raised $17 Million With Zero Practical Utility
On-chain analyst ZachXBT (@zachxbt) disclosed that the recently launched 10K PFP NFT project zkSNARKs on the Zcash chain is allegedly a rug pull. The project attracted a total of 16,971 bids via a blind auction, ultimately completing the allocation of 8,000 items at a clearing price of 1.5 ZEC (approximately $2,190). Total trading volume reached 25,305 ZEC (approximately $36.94 million), and refunds totaling 13,309 ZEC (approximately $19.43 million) have been progressively returned. ZachXBT noted that the project raised approximately $17 million, while incorporating a 10% team allocation, 5% royalties, and a minting fee of around $2,000, yet offered zero utility. This mirrors the typical "rug pull" strategy commonly seen in Ordinals-style projects.
JPMorgan Goes Against the Tide to Stay Bullish on US Stocks: Cherish the "Golden Pit"
Odaily News: Amid pressure from AI giants calling for a slowdown, sticky inflation, and the looming threat of rate hikes, US stocks plunged across the board on Monday, with the Philadelphia Semiconductor Index plummeting nearly 6%. Yet JPMorgan reaffirmed its bullish stance against the tide, warning that blind pessimism can easily lead to missing out on gains.Mislav Matejka, JPMorgan's Head of Global and European Equity Strategy, also once again issued a warning to aggressively bearish investors: while surging oil prices do suppress valuations, blindly betting against US stocks is extremely dangerous before the overall earnings expansion of American companies has been disproven. Once US President Trump subsequently attempts to cool tensions in the Middle East through diplomacy, or if third-quarter earnings exceed expectations, the forces of excessive shorting may face a fierce backlash from returning capital.On this basis, JPMorgan as early as August had already raised its year-end target for the S&P 500 Index from 7,800 points to 8,000 points against the tide, and expects earnings per share of its constituent stocks to surge 29% year-over-year to $350.
Korea FIU orders blocking of domestic access to two unregistered virtual asset service providers; DAXA refers three involved entities for investigation
Under current law, operators conducting virtual asset business without proper registration may face up to five years in prison or a fine of up to 50 million South Korean won. Overseas operators targeting Korean residents are equally subject to this regulation. According to the FIU, these unregistered operators operate in a regulatory blind spot and may be exploited for money laundering. In June this year, a joint enforcement investigation by DAXA and compliant operators revealed that the average trading fees of the detained entities ranged from 1.5% to 10%, with the highest rate reaching approximately 62 times the average of Korea’s top five won-based exchanges (0.16%).
France plans to levy a 31.4% capital gains tax on MiCA stablecoins, as Chainalysis warns it could trigger capital outflows.
According to CoinDesk, the French National Assembly is deliberating on the 2027 budget, which features an amendment proposing to subject stablecoins regulated under the EU’s MiCA framework (e-money tokens) to capital gains tax at a rate of 31.4%, effective January 1, 2027. Currently, France only levies taxes when cryptocurrencies are exchanged for fiat currency or used for purchases, whereas swapping between crypto assets does not trigger tax obligations. François Volpoet, CEO of Chainalysis France, cautioned that this policy could incentivize traders to migrate to regulatory blind spots like DeFi platforms or self-custody wallets, ultimately eroding the tax base. Furthermore, the parliamentary finance committee has adopted two additional proposals: one requiring the disclosure of self-custody wallets holding more than €100,000, with fines capped at approximately $11,600 for violations; and another extending the outbound transfer tax to crypto holdings exceeding roughly $900,000. These measures remain unenacted, with parliament scheduled to vote on the revenue articles on October 20.
White House advisor refutes claims that the bill failed, stating Trump agreed to the strictest ethics provisions.
White House cryptocurrency policy adviser Patrick Witt dismissed claims that Trump's conflicts of interest caused the failure of the Clarity Act, insisting that the president has agreed to strict ethics provisions, including placing his assets in a blind trust, and attributed the bill's demise to partisan politics and lobbying activities.
Trump Pushes CLARITY Act Through Senate, Agrees to About 80% of Ethics Rule Revisions
Odaily News: U.S. President Trump has agreed to most of the stricter ethics rules related to the CLARITY Act in order to win support from key senators. A Republican aide revealed that Trump agreed to about 80% of the relevant proposal. The new plan includes granting state attorneys general joint enforcement authority with the Department of Justice, allowing them to sue crypto exchanges that list digital assets prohibited by the bill; elected officials, their spouses, and federal judges would be required to divest their significant financial interests in crypto asset issuing entities or place the relevant assets in a blind trust.Previously, several Democratic senators and Republican Senator Thom Tillis refused to support the bill due to concerns over Trump's personal crypto asset holdings and demands for stronger conflict-of-interest restrictions. The Senate is scheduled to hold a procedural vote on the bill on Tuesday. (Associated Press)
BIT: Senate Vote on CLARITY Act Imminent, Legislative Progress May Boost Short-Term Market Sentiment
According to BIT's daily analysis report, Trump has largely agreed to new bipartisan ethics provisions requiring relevant officials to divest their held crypto assets or place them in blind trusts. The latest approximately 630-page version of the CLARITY Act will face a Senate procedural vote at 2:15 PM ET on September 15, which requires 60 votes in favor. With Republicans currently holding only 53 seats, the majority must secure support from at least seven Democrats or independents. The revised draft incorporates over 100 amendments proposed by Democrats, including adjustments to DeFi registration rules. However, ethics restrictions targeting government officials remain contentious and include a sunset clause set for January 2029. Even if the procedural vote passes, the legislation still must navigate formal debate, amendment review, and House approval. While the bill's tangible impact on the market remains uncertain, legislative progress this week could provide a boost to short-term market sentiment.
US Senate Republicans release new version of Clarity Act text, incorporating ethics proposal agreed to by Trump
Odaily report: A Fox Business crypto reporter posted on X that U.S. Senate Republicans have released a new version of the "Clarity Act" text, which incorporates a revised ethics proposal agreed to by Trump and adjusts provisions related to the "Blockchain Regulatory Certainty Act," stablecoin yield, and the so-called "Ag" section. Republicans called this their "last, best, and final" offer to Democrats ahead of Tuesday's vote to end debate proceedings.The new text narrows the scope of the "Blockchain Regulatory Certainty Act" to the Bank Secrecy Act and civil enforcement, and removes specific language extending related protections to criminal cases, including prosecutions under Section 1960. The ethics proposal includes requiring Trump to sell "substantial" crypto-related financial interests or place them in a blind trust, and allows state attorneys general to enforce the ethics provisions; the stablecoin yield clause adds a "circuit breaker" mechanism, under which federal regulators can intervene if there is evidence of large-scale flows from community bank deposits into stablecoins, with Treasury Secretary Scott Bessent serving as the adjudicator.The "Ag" section adds new restrictions on vertical integration, including related-party transactions and conflicts of interest involving digital commodity exchanges, brokers, and dealers, and clarifies that state consumer protection laws still apply; the developer protection clause will not constitute an exemption from derivatives law, nor will it affect prediction markets.
ZachXBT Slams zkSNARKs: Calls It an Ordinals Scam, Raised $17 Million With Zero Practical Utility
On-chain analyst ZachXBT (@zachxbt) disclosed that the recently launched 10K PFP NFT project zkSNARKs on the Zcash chain is allegedly a rug pull. The project attracted a total of 16,971 bids via a blind auction, ultimately completing the allocation of 8,000 items at a clearing price of 1.5 ZEC (approximately $2,190). Total trading volume reached 25,305 ZEC (approximately $36.94 million), and refunds totaling 13,309 ZEC (approximately $19.43 million) have been progressively returned. ZachXBT noted that the project raised approximately $17 million, while incorporating a 10% team allocation, 5% royalties, and a minting fee of around $2,000, yet offered zero utility. This mirrors the typical "rug pull" strategy commonly seen in Ordinals-style projects.
Bitget Launches 'Newcomer Gold Rush' Campaign, Trade to Receive XAUT Airdrops and Gold Gifts
Bitget has launched the "Newcomer Gold Mining 2.0" futures campaign, with participation running from September 14 to September 21. During the event, new and existing users can earn tiered blind box rewards by completing designated tasks such as net deposits, futures trading, and inviting friends, with a maximum of 18 blind boxes obtainable. The blind box prize pool includes XAUT airdrops and physical gold gifts such as fortune gold coins, boasting a 100% win rate. Users who meet the cumulative trading volume milestones will also receive an additional 5g gold ingot. For more details, please refer to the official Bitget platform.
Coldcard vulnerability investigation escalates: At least 15 attackers identified, a single victim's findings reveal 12 BTC stolen
Galaxy Digital Head of Research Alex Thorn stated that based on new victim reports received following the incident, the number of attackers exploiting the Coldcard vulnerability has reached at least 15.Thorn noted that information provided by victims helped the research team uncover previously unidentified attack activity. Unlike thefts from centralized exchanges, correlations between the attackers in this vulnerability exploit require confirmation through on-chain analysis and victim feedback.He added that a single victim reporting less than 1 BTC stolen helped the team discover a previously unknown attack, which siphoned approximately 12 BTC from 126 addresses.According to Galaxy Research's earlier estimates, the Coldcard vulnerability has led to at least three rounds of attacks, with losses amounting to approximately $100 million in BTC. Additionally, Galaxy has identified a suspected fourth round of attacks, which could bring total losses to approximately $130 million.Meanwhile, the incident has also sparked discussions regarding the security of Bitcoin self-custody. Dragonfly Managing Partner Haseeb Qureshi stated that "AI security hardening costing around $2" could potentially have prevented this vulnerability, and noted that some AI models were able to rediscover related vulnerabilities within a relatively short timeframe. However, industry insiders pointed out that current claims about the speed of AI discovering vulnerabilities lack rigorous blind testing and verification.Researchers believe that as AI model capabilities improve, the costs of vulnerability discovery and attacks in the crypto industry may continue to decline, requiring wallet developers to further strengthen code audits and security protections. (Cointelegraph)
WEEX Launches Physical AI Bot Concept Coin Trading Campaign, Offering $100,000 Prize Pool
WEEX Exchange Announcement: A Coin-Stock Ecosystem Trading Zone event for Physical AI Bot is now launched. Users trading any event tokens (MSFTON, NVDAON, AMDON, QCOMON, TXNON, ADION, SYMON, ISRGON, TSLAON) can participate in sharing a $100,000 reward. Event Time: 7/2 20:00 - 7/12 20:00 (UTC+8). During the event, new users who sequentially complete a net deposit ≥ $100 and make their first spot trade in an event token with trading volume ≥ $10 can receive a blind box worth up to $28; cumulative spot trading volume of event tokens ≥ 200 USDT allows participation in sharing 10,000 USDT bonus based on trading volume ratio. For new and old users, daily event token spot trading volume ≥ $50 is considered a successful check-in; cumulative check-ins of 2 days or more allow participation in sharing a $20,000 prize pool; net buy of event tokens ≥ 100 USDT allows participation in the Net Buy Challenge to share $30,000; cumulative spot trading volume of event tokens ≥ 2,000 USDT allows sharing 20,000 USDT bonus based on trading volume ratio.
Bitget Launches U.S. Stocks New User Campaign: Win Up to $2,000 USDT Trading Vouchers and an iPhone 17 Pro Max
Bitget has launched its “U.S. Stock New User Bonus” campaign, running from May 28 to June 5. During the campaign period, users who complete tasks—including net deposits and U.S. stock perpetual contract trading—can earn up to a $2,000 USDT position experience voucher. Additionally, completing tasks unlocks chances to participate in blind box draws, with prizes including multiple tiers of position experience vouchers and an iPhone 17 Pro Max. Eligible users must click “Join Now” to register; for more details, please visit the official Bitget platform.
ZachXBT Slams zkSNARKs: Calls It an Ordinals Scam, Raised $17 Million With Zero Practical Utility
On-chain analyst ZachXBT (@zachxbt) disclosed that the recently launched 10K PFP NFT project zkSNARKs on the Zcash chain is allegedly a rug pull. The project attracted a total of 16,971 bids via a blind auction, ultimately completing the allocation of 8,000 items at a clearing price of 1.5 ZEC (approximately $2,190). Total trading volume reached 25,305 ZEC (approximately $36.94 million), and refunds totaling 13,309 ZEC (approximately $19.43 million) have been progressively returned. ZachXBT noted that the project raised approximately $17 million, while incorporating a 10% team allocation, 5% royalties, and a minting fee of around $2,000, yet offered zero utility. This mirrors the typical "rug pull" strategy commonly seen in Ordinals-style projects.
AI code review missed a critical vulnerability that COLDCARD was exploited for last week
Odaily Planet Daily reported that Bitcoin News stated on the X platform that Coinkite said the vulnerability existed at the boundary between two unrelated firmware submodules, rather than in its Bitcoin or encryption code, which allowed it to evade both manual and AI-assisted code reviews for years. Coinkite stated that after the incident, the company tested cutting-edge AI models including Kimi K3, Claude Fable, and Codex 5.6, none of which identified the flaw. Coinkite is now urging security-critical projects to specifically audit build systems and submodule boundaries, and warned that AI-assisted development could leave similar blind spots in the Bitcoin ecosystem.
Coldcard vulnerability investigation escalates: At least 15 attackers identified, a single victim's findings reveal 12 BTC stolen
Galaxy Digital Head of Research Alex Thorn stated that based on new victim reports received following the incident, the number of attackers exploiting the Coldcard vulnerability has reached at least 15.Thorn noted that information provided by victims helped the research team uncover previously unidentified attack activity. Unlike thefts from centralized exchanges, correlations between the attackers in this vulnerability exploit require confirmation through on-chain analysis and victim feedback.He added that a single victim reporting less than 1 BTC stolen helped the team discover a previously unknown attack, which siphoned approximately 12 BTC from 126 addresses.According to Galaxy Research's earlier estimates, the Coldcard vulnerability has led to at least three rounds of attacks, with losses amounting to approximately $100 million in BTC. Additionally, Galaxy has identified a suspected fourth round of attacks, which could bring total losses to approximately $130 million.Meanwhile, the incident has also sparked discussions regarding the security of Bitcoin self-custody. Dragonfly Managing Partner Haseeb Qureshi stated that "AI security hardening costing around $2" could potentially have prevented this vulnerability, and noted that some AI models were able to rediscover related vulnerabilities within a relatively short timeframe. However, industry insiders pointed out that current claims about the speed of AI discovering vulnerabilities lack rigorous blind testing and verification.Researchers believe that as AI model capabilities improve, the costs of vulnerability discovery and attacks in the crypto industry may continue to decline, requiring wallet developers to further strengthen code audits and security protections. (Cointelegraph)
Binance will open the Alpha airdrop blind box today at 17:00, with an airdrop threshold of 245 points.
According to the official announcement, Binance will open the Alpha airdrop and begin trading at 17:00 (UTC+8) today. This event features an upgraded "Alpha Blind Box" format, with the airdrop prize pool containing tokens from multiple projects. Users holding at least 245 Binance Alpha Points can claim one token reward on a first-come, first-served basis. Each airdrop claim consumes 15 Binance Alpha Points. The airdrop offers three reward tiers: Common (accounting for 80% of the pool), Rare (15%), and Hidden (5%), with each tier corresponding to a different Alpha Blind Box value. Users will be assigned to one of these tiers upon claiming, and rewards will be distributed according to their respective proportions. Should any rewards remain unclaimed, the point threshold will automatically drop by 5 points every five minutes.
Bitget launches the 14th edition of its CFD Kings Championship, with a total prize pool of 75,000 USDT.
Bitget launches the 14th edition of the CFD King Championship, featuring a total prize pool of 75,000 USDT. The event runs from September 21 at 21:00 to September 28 at 21:00 (UTC+8). During the campaign, users who complete specified CFD trading tasks will qualify for blind box draws, guaranteeing a 100% win rate for USDT cash vouchers.
Trump Pushes CLARITY Act Through Senate, Agrees to About 80% of Ethics Rule Revisions
Odaily News: U.S. President Trump has agreed to most of the stricter ethics rules related to the CLARITY Act in order to win support from key senators. A Republican aide revealed that Trump agreed to about 80% of the relevant proposal. The new plan includes granting state attorneys general joint enforcement authority with the Department of Justice, allowing them to sue crypto exchanges that list digital assets prohibited by the bill; elected officials, their spouses, and federal judges would be required to divest their significant financial interests in crypto asset issuing entities or place the relevant assets in a blind trust.Previously, several Democratic senators and Republican Senator Thom Tillis refused to support the bill due to concerns over Trump's personal crypto asset holdings and demands for stronger conflict-of-interest restrictions. The Senate is scheduled to hold a procedural vote on the bill on Tuesday. (Associated Press)
BIT: Senate Vote on CLARITY Act Imminent, Legislative Progress May Boost Short-Term Market Sentiment
According to BIT's daily analysis report, Trump has largely agreed to new bipartisan ethics provisions requiring relevant officials to divest their held crypto assets or place them in blind trusts. The latest approximately 630-page version of the CLARITY Act will face a Senate procedural vote at 2:15 PM ET on September 15, which requires 60 votes in favor. With Republicans currently holding only 53 seats, the majority must secure support from at least seven Democrats or independents. The revised draft incorporates over 100 amendments proposed by Democrats, including adjustments to DeFi registration rules. However, ethics restrictions targeting government officials remain contentious and include a sunset clause set for January 2029. Even if the procedural vote passes, the legislation still must navigate formal debate, amendment review, and House approval. While the bill's tangible impact on the market remains uncertain, legislative progress this week could provide a boost to short-term market sentiment.
Bitget Launches the 12th CFD Champions Tournament with a Total Prize Pool of 75,000 USDT
Bitget launches the 12th CFD King Championship with a total prize pool of 75,000 USDT. The event runs from September 7 at 21:00 to September 14 at 21:00 (UTC+8). During the campaign, users who complete designated CFD trading tasks will receive blind box draw entries, guaranteeing a 100% chance to win USDT cash vouchers.
Bitget Launches AEHR Stock Spot Trading Event, Total Prize Pool 40,000 USDT
Bitget launches the AEHR stock spot trading event with a total prize pool worth 40,000 USDT. The event runs from 19:00 on August 19 to 18:59 on August 26 (UTC+8). During the event, users can earn blind box draw chances by completing rAEHR trading tasks.
Related news
Korea FIU orders blocking of domestic access to two unregistered virtual asset service providers; DAXA refers three involved entities for investigation
Under current law, operators conducting virtual asset business without proper registration may face up to five years in prison or a fine of up to 50 million South Korean won. Overseas operators targeting Korean residents are equally subject to this regulation. According to the FIU, these unregistered operators operate in a regulatory blind spot and may be exploited for money laundering. In June this year, a joint enforcement investigation by DAXA and compliant operators revealed that the average trading fees of the detained entities ranged from 1.5% to 10%, with the highest rate reaching approximately 62 times the average of Korea’s top five won-based exchanges (0.16%).
Bitget Launches Earnings Season Futures Campaign: Trade SanDisk and SK Hynix to Unlock 50,000 USDT Prize Pool
Bitget launches an Earnings Season Futures Campaign. During the event, users who complete designated US stock futures trading tasks will receive lucky blind boxes. The blind box prize pool features USDT position trial vouchers and rewards for multiple popular tokens, offering up to 0.3 ETH per draw. With a 100% win rate and limited quantities, prizes are awarded on a first-come, first-served basis.
Bitget Launches the 19th Edition CFD King Championship, with a Total Prize Pool of 75,000 USDT
Bitget launches the 19th CFD King Championship with a total prize pool of 75,000 USDT. The event runs from October 26 to November 2. During the promotion, users who complete designated CFD trading tasks will receive blind box draw opportunities, guaranteeing a 100% win rate for USDT spot cash vouchers. Additionally, inviting new users to complete trading tasks will reward both existing and new users with USDT; meeting daily trading targets allows users to accumulate points to compete for a share of the 7,600 USDT points prize pool. The top 470 users ranked by cumulative trading volume will jointly claim the 47,400 USDT ranking prize pool, with the champion taking home 4,000 USDT. For more details, please visit the official Bitget platform.
Bitget "Peer Program" Ninth Batch Rewards Distributed, Cumulative Prize Pool Nears 8.5 Million USDT
Odaily reports: According to Bitget official data, the ninth batch of rewards for the platform's "Peer Program" has been fully distributed. As of now, the cumulative total amount of the program's prize pool has reached 8,499,468 USDT, with a cumulative total of 6,651,305 recipients.In addition, after users visit the event page to claim their rewards, they can also receive an extra chance to draw from an 8th anniversary surprise blind box.
The seventh batch of rewards for Bitget's Partner Program has been distributed, with the cumulative number of recipients exceeding 5.2 million.
According to official Bitget data, the seventh batch of rewards for the platform's "Peer Journey Plan" has been fully distributed. To date, the program has cumulatively awarded 6,813,732 USDT across 5,239,752 recipients. Additionally, after visiting the event page to claim their rewards, users will receive an extra chance to participate in an 8th-anniversary surprise blind box draw. The campaign will run until October 26.
predict.fun Launches Special Blind Boxes, Offering Fixed USDT Rewards Based on Corresponding Items
predict.fun posted on X platform stating that during the Predict the Worlds event, users have the opportunity to obtain special blind boxes. Unlike regular blind boxes, special blind boxes will provide fixed amounts of USDT rewards based on the items they represent.