Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.
Binance confirms launch of Moonbix, its new Telegram mini-game
Binance’s customer support team has confirmed that the company will soon launch "Moonbix," a new play-to-earn (P2E) game available on Telegram's Mini App platform.
This statement comes after rumours circulated about Binance introducing a space-themed game where players control a spaceship equipped with a claw-like device to collect items such as yellow stones and gifts scattered across different galaxies.
Several accounts on X (formerly known as Twitter) have shared screenshots of the game, hinting that it may bear similarities to traditional gold mining games. However, Binance has not officially verified these details.
Although no formal announcement has been made, early access links to Moonbix have already appeared online. According to Binance's customer support, the game was unintentionally leaked before its release.
“We’re aware that our upcoming Telegram mini-app game, Moonbix, was leaked before the intended launch date,” the Binance support team said via X and the company’s official announcement channel. “While we’re excited by the community’s enthusiasm, we’re still working on fine-tuning the product to provide the best user experience at launch.”
The team also apologised for any inconvenience caused by the leak and assured that they are addressing individual cases of users affected by the premature release.
Telegram’s TON Ecosystem Drives Binance’s Latest Token Listings
Binance recently surprised the market by listing five TON tokens, sparking discussions about the TON ecosystem and its interactions with major exchanges like Binance. Colin Wu and WuliGy explored this topic on an episode of the Wu Blockchain podcast.
The hosts pointed out that new markets and users from popular social media platforms like Telegram could bring significant advantages to exchanges like Binance.
During the podcast, Colin Wu and WuliGy addressed a key question: why is Binance listing so many TON tokens? This comes when Binance is dealing with price fluctuations after listing the NEIRO meme coin, raising concerns about how TON will differentiate itself and what Binance’s long-term strategy might be.
The hosts suggested that Binance’s decision to list the five TON tokens aims to gain access to new regional markets. They also noted that adding Notcoin to Binance in May 2024 triggered a surge of investment in TON, followed by introducing of various mini apps on the platform.
BitGo to Enter Stablecoin Market With Reward-Bearing USDS Coin
BitGo has announced plans to launch a dollar-backed stablecoin next year, setting itself apart in a competitive market by offering incentives to institutions that provide liquidity to its network. This announcement was made during the Token2049 event in Singapore.
The stablecoin, named USDS, will be backed by short-term Treasury bills, overnight repos, and cash, similar to other available stablecoins. However, BitGo is branding USDS as the first open-participation stablecoin.
In an interview with CoinDesk before his keynote at Token2049, CEO Mike Belshe explained, "The primary reason for launching USDS is that while existing stablecoins perform well, we see an opportunity to create a more open and equitable system that encourages innovation and, importantly, rewards those who contribute to the network. A stablecoin’s real value comes from its users, the liquidity they provide, and the access points for exchange."
Stablecoins are a form of cryptocurrency that maintains a fixed value by being pegged to assets such as fiat currency or gold. They are commonly used in crypto trading and provide significant liquidity in the decentralized finance (DeFi) sector.
The U.S. dollar-pegged stablecoin market is currently dominated by Tether's USDT, with a market capitalization of approximately $119 billion, followed by Circle's USDC, which is about one-third the size of USDT.
BitGo’s USDS will stand out from competitors by introducing a rewards-based system. This model will incentivize institutions providing liquidity to the USDS network by distributing a portion of the returns generated from its reserves.
California passes package of laws to combat election deepfakes
California Governor Gavin Newsom has enacted a strict new law targeting the use of politically-themed AI deepfakes during elections. This move follows an incident where Elon Musk re-shared a parody of a Kamala Harris campaign ad on X, which gained millions of views. The ad used AI-generated voice manipulation to falsely depict Harris as calling herself an incompetent presidential candidate.
In late July, Newsom referenced Musk’s post and pledged to sign a bill prohibiting such practices "within weeks."
The newly signed law, AB 2839, now prohibits individuals and organizations from knowingly distributing election-related deepfakes or other "materially deceptive content." Previously, laws only banned the sharing of such media within 60 days of an election. The new law extends that period to 120 days before an election in California and, in some cases, up to 60 days after the election.
On the same day, Newsom also signed two additional laws to regulate political AI deepfakes, though these will not take effect until January.
Google Cloud launches Ethereum-compatible blockchain RPC service
Google Cloud has introduced a new Blockchain Remote Procedure Call (RPC) service designed to simplify how crypto developers access blockchain data and improve the reliability of decentralized applications (DApps).
Initially, the service will support the Ethereum mainnet and testnet, with plans to extend compatibility to additional blockchains over the coming year, according to a blog post by Google Cloud on September 17.
The service is being launched with a free tier, allowing up to 100 calls per second and one million daily requests. It also supports EIP-1474, a standardized set of RPC methods for interacting with Ethereum nodes.
CFTC eyeing Polymarket, betting platforms amid elections, says chair
The United States Commodity Futures Trading Commission (CFTC) has stated that it closely monitors Polymarket and other offshore crypto betting platforms that offer derivatives contracts to U.S. customers, warning of potential enforcement actions against those violating the law.
"We are keeping an eye on any offshore activity involving U.S. customers, and we want to ensure it is conducted legally and in compliance with the law," said CFTC Chair Rostin Behnam during a July 17 discussion at Georgetown University's Psaros Center for Financial Markets and Policy.
Behnam emphasized that if a platform has a significant presence in the U.S. and fails to register the derivatives contracts it offers, enforcement actions will be taken.
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