Evening News | Singapore proposes banning retail investors from borrowing to purchase cryptocurrencies; Musk plans to complete the acquisition of Twitter on Friday

整理：Demian，ChainCatcher

"What Important Events Happened in the Past 24 Hours"

1. Singapore Proposes to Ban Retail Investors from Borrowing to Buy Cryptocurrencies

According to Bloomberg, Singapore has proposed to ban retail investors from borrowing to purchase cryptocurrencies, as part of a series of recommendations to tighten its digital asset regulatory framework. Other potential measures outlined in a consultation paper from the Monetary Authority of Singapore include prohibiting companies from borrowing or staking tokens deposited by retail investors to generate yields.

Additionally, the document suggests that stablecoins must be pegged to local currencies or G10 national legal tender and fully backed by reserves of the same denomination. Issuers will also face minimum capital requirements. (Source link)

2. Musk Plans to Complete Twitter Acquisition Deal by Friday

According to Jin10 data citing informed sources, Musk promised during a video conference with financing banks on Monday to complete the acquisition of Twitter by the end of Friday. The sources stated that the banks providing a total of $13 billion in debt financing for the deal have completed the drafting of the final credit agreement and are now at the document signing stage.

Informed sources also indicated that during the call, Musk promised to help the banks pitch bonds to fund managers after the deal is completed. Morgan Stanley and Twitter declined to comment on the report, while Musk's representatives have not yet responded to requests for comment. Twitter's stock price surged briefly, rising over 3%. (Jin10)

3. Sui Foundation Launches Developer Grant Program

The Sui Foundation website is now live, and the application portal for developer grants is open. The funding amounts will range from $10,000 to $100,000, and additional SUI token rewards may also be granted. (Source link)

4. MakerDAO Members Vote Overwhelmingly in Favor of Founder's "Endgame Plan"

According to Beincrypto, MakerDAO (MKR) members voted overwhelmingly, with 80% in favor of founder Rune Christensen's "Endgame Plan."

It is reported that in May of this year, Christensen released the Endgame Plan roadmap, detailing his plans to restructure MakerDAO for decentralization over the next decade. Specifically, he proposed splitting Maker into several self-sustaining units called "MetaDAOs." Each MetaDAO would have its own token and be governed by a committee independent of Maker's foundational governance system. (Source link)

5. Wall Street Journal: a16z Crypto Fund Lost About 40% of Its Value in the First Half of This Year

According to the Wall Street Journal citing informed sources, the a16z crypto fund lost about 40% of its value in the first half of this year. This includes a loss of $2.9 billion from remaining shares in Coinbase over the first six months of this year. a16z is currently undergoing adjustments, announcing investments in 9 crypto startups in the third quarter, down from a peak of 26 in the fourth quarter of last year. (Source link)

6. The Sandbox to Distribute a Total of 2.6 Million SAND Rewards to Landowners on Polygon

According to an official announcement from The Sandbox, to celebrate the 1000th day since its metaverse was born on December 4, 2019, The Sandbox will distribute a total of 2.6 million SAND rewards to land (LAND) owners on the Polygon network. The snapshot was taken at 13:00 UTC on August 30 (21:00 Beijing time on August 30), and distribution will be based on the amount held, holding time, and whether they bridged to Polygon. Eligibility can now be checked and claimed. (Source link)

"What Interesting Articles Are Worth Reading in the Past 24 Hours"

1. "AC's First Post After Exiting the Scene, Discussing the Crypto Winter, Macroeconomic Environment, and Lack of Regulation"

The cryptocurrency market experienced significant upheaval in 2022, with the prices of various cryptocurrencies plummeting, and the failures of networks and exchanges resulting in a total loss of $2 trillion. To date, some of the largest shocks to the market include the collapse of Terra LUNA/UST, Celsius Network's bankruptcy filing, Voyager Digital's bankruptcy filing, and the downfall of Three Arrows Capital.

These actions and their impact on the market are not new, especially in a market that relies more on consumer expectations than any other. Many regulators have raised the question of how to protect consumers in the crypto market, with the answer being to adopt relative safeguards from traditional finance.

2. "In-Depth Exploration of the Long-Term Viability of the AMM Model and How Uniswap Adapts to Future Financial Developments"

Uniswap has just completed a $165 million Series B funding round. This report explores the long-term viability of the automated market maker (AMM) model and how DeFi protocols like Uniswap can adapt to future financial developments.

This report aims to provide a comprehensive understanding of the infrastructure currently in use and our direction for development. As adoption increases, clarifying our current direction may be very valuable in the coming years. We are currently seeing many high-quality projects under development. It would not be surprising to see this field grow tenfold in the next cycle. This research helps us think about where value can be generated and how we should position ourselves.

3. "Analyzing How Protocol DAOs Operate from a Legal Perspective"

We have entered a new normal where anyone involved in free technology faces significant legal risks—similar to the risks faced by developers of cryptographic technology during the "crypto wars" of the 1990s. This requires everyone involved in free technology—from casual users to hardcore degens, programmers, bot operators, validators, CEXs, and social media leaders—to strengthen their game, becoming more aware of what they are doing, how they are doing it, and the potential legal consequences.