The Block
Quick Take The company said that the SEC sent a Wells notice shortly after its first meeting with the SEC. Immutable said it believes the SEC’s claims could involve the listing and private sales in 2021 of IMX, but said the Wells notice included sparse details.
Quick Take Top stablecoin provider Tether said it generated $2.5 billion in profit during the third quarter, according to its latest attestation report. Through the first nine months of the year, Tether also said it has registered $7.7 billion in profit.
Quick Take Layer-1 network ZetaChain experienced network suspension of over six hours that started Thursday night. The network identified the issue as a “consensus failure” stemming from a recent update. While the mainnet is back producing blocks, the same issue led ZetaChain’s testnet to halt.
Quick Take Coinbase’s stock closed down 15.3% on Thursday, marking its worst day since July 2022. The decline came a day after the company released weaker-than-expected earnings in the third quarter.
Quick Take Centralized crypto lender Nexo has resumed UK client onboarding following a series of upgrades to meet the compliance requirements of the country’s financial regulator. Changes include cool-off periods, specialized risk warnings and dedicated support.
Analysts expect bitcoin to experience a brief boost following the Fed’s mid-September rate decision but anticipate a subsequent price correction as recession fears escalate.
Quick Take Bernstein analysts highlighted blockchain’s role in preventing censorship and pursuing truth amid AI-generated content abundance. The analysts’ comments follow a series of censorship rows including Telegram CEO Pavel Durov’s arrest in France, X’s dispute with Brazil and U.S. election fact-checking.
Quick Take The Qatar Financial Centre has created the “QFC Digital Assets Framework” to provide more regulatory clarity on crypto. Companies can apply for a license to perform token service provider activities following the framework’s launch.
Quick Take SEC commissioner Mark T. Uyeda said Tuesday that he sees a need for the regulatory agency to create “customized” S-1 registration forms for digital asset securities.
Polymarket traders are betting on a decrease in the federal funds rate at the upcoming Federal Reserve’s FOMC meeting, which is scheduled for September 17-18. A bet totaling $10.9 million shows that 77% of traders expect a 25-basis-point cut, 21% predict a 50-basis-point cut and only 3% believe there will be no change.
