Market Watch | Bitcoin | $10,064 | 7 day: -16% | | Ethereum | $339 | 7 day: -29% | | All crypto | $323b | 7 day: -17.6% | | Bitcoin dominance | 57.4% | 7 day: +1.4% | Prices as of 5 p.m. EDT
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 Seoul police cruiser South Korean police raid Bithumb offices again. - South Korean newspaper says that the Intelligent Crime Unit of Seoul Metropolitan Police Agency raided Bithumb's Seoul office on Sept. 7.
- We reported on the first raid here at Inside Cryptocurrency.
- In part, police raided Bithumb to search for evidence regarding its suspicious $25m issuance of BXA tokens.
- Seoul Metropolitan Police are also investigating Bithumb's beneficiary owner, Lee Jung-hoon, regarding fraud charges and overseas funds transfers.
Coindesk 
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Charles Hoskinson briefs the Cardano (ADA) community regarding wallet issues on Bittrex exchange. Hoskinson is a former Ethereum co-founder who left to start another cryptocurrency, Cardano. Bittrex is a U.S.-based cryptocurrency exchange that processes $50m in average daily volume. - Cardano (ADA) community members have been waiting for a solution to wallet issues on Bittrex.
- On August 10, Bittrex clarified that it was working on ADA wallets and deposit/withdrawal issues with assistance from the Cardano team.
- On September 7, Bittrex CEO Richie Lai's tweeted a detailed YouTube video, "Brief Bittrex Update," where Cardano founder Charles Hoskinson explained the causes of Bittrex's ADA wallet issues.
- At the 8:30 timestamp, Hoskinson described how Cardano's senior engineers performed an end-to-end analysis that identified the cause for slowdowns and cascading issues on Bittrex.
- Hoskinson said that the improvements would not only address Bittrex's concerns but also "benefit every Cardano user," and called it a "universal update for the wallet backend." No such improvements were underway before the Bittrex issues occurred.
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OKEx Exchange's crypto project Accelerator, OKEx Jumpstart, announces mining support. OKEx is a major cryptocurrency exchange that claims to process $1.5b in average daily volume. - Malta-based crypto spot and derivatives exchange OKEx adds mining support on its OKEx Jumpstart project accelerator program.
- OKEx announced that OKEx Jumpstart would support mining. OKEx users may stake the OKEx Token (OKB) up to 14 days prior to the launch of new projects.
- More details: No lock-up periods. Users may choose to halt staking. The Jumpstart Mining initiative claims to drive utility for the OKB Token, a common claim by cryptocurrencies attempting to avoid security-like characteristics.
- OKEx CEO Jay Hao claims Jumpstart mining programs could offer an alternative to yield farming.
OKEx
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Derivatives trading platform LN Markets closes pre-seed funding from cryptocurrency exchange Bitfinex and investment firm Arcane Crypto. Bitfinex is a major cryptocurrency exchange that claims to process over $150m in average daily volume. - LN Markets platform claims to allow users to perform trades directly from a bitcoin Lightning Network wallet.
- Arcane Crypto, Bitfinex, and Fulgur Ventures Paris invested in the round.
- Arcane Crypto CEO Torbjorn Bull Jenssen said that LN Markets could provide exposure to the derivatives market and strengthen Arcane Crypto's position in Lightning.
- Bitfinex CTO Paolo Ardoino tweeted that Bitfinex is investing in projects to support Lightning Network expansion.
BTC Times
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New DeFi project Swerve Finance (SWRV) attracts $396m of Total Value Locked (TVL). Both of these DeFi projects claim to operate decentralized exchange protocols for stablecoin trading and promise yield farming rewards. - Swerve (SWRV), a fork of DeFi protocol Curve Finance and its Ethereum-based liquidity pool, has grown its TVL substantially since launching on September 4. Swerve Finance describes itself as a community-owned. Its code is unaudited.
- Four days since the launch of Swerve (SWRV), its TVL totals $396m, or 40% of Curve's (CRV) TVL.
- Dovey Wan, a founding partner at Primitive Crypto and an advisor to Coindesk, noted a $1m Tether (USDT) transaction to Swerve Finance's contract from a participant on Swerve's Discord channel.
- Chao Zhangpeng, CEO of Binance, pointed out that most centralized exchange and wallets restrict users from sending funds to such addresses.
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Austrian compliance company Blockpit acquires a German competitor, CryptoTax. - Blockpit and CryptoTax have offered cryptocurrency tax preparation software and services since 2017.
- After the merger, the two companies will expand jurisdictions across Europe and the UK. Blockpit is based in Linz. CryptoTax is based in Munich.
- Klaus Himmer, co-founder and managing director of CryptoTax, said he plans to expand into the U.S. and compete with providers like CoinTracking, Sovos, ZenLedger, CoinTracker, and others.
EU Startups
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Binance announces a centralized finance (CeFi) project called Launchpool. CeFi is wordplay on the booming decentralized finance (DeFi) industry. - Binance concurrently announces a "farm" project on Launchpool, Bella Protocol (BEL).
- On September 6, Binance released Launchpool, a new way to purportedly farm cryptocurrencies.
- Launchpool will enable Binance customers to obtain tokens as a reward for staking Binance Coin (BNB) and Binance USD (BUSD).
- Binance has named Bella Protocol (BEL) as its first project to be hosted on Launchpool.
- Bella Protocol is a DeFi protocol created by the team behind the ARPA project.
Coin Telegraph
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 SUSHI price chart The anonymous SushiSwap (SUSHI) founder transfers administrative keys to the CEO of FTX. - SushiSwap's anonymous founder and lead developer, known as "Chef Nomi," allegedly relinquished administrative keys to FTX CEO Sam Bankman-Fried on September 6.
- On September 5, Chef Nomi received backlash from the community over converting a portion of Sushiswap (SUSHI) tokens into 37,400 ETH (worth approximately $13m) in this transaction.
- Leaving the community confused about who owns those 37,400 ETH, Chef Nomi wrote that he hopes the project does well without him. At the same time, Bankman-Fried aims to deploy MultiSig into SushiSwap's smart contract.
- Coindesk reports on SushiSwap's ongoing saga.
The Block Crypto
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 Peter Schiff Peter Schiff, a celebrity goldbug and bitcoin critic, admits to being wrong about one bearish call on bitcoin's price. Schiff is a celebrity, CEO of Euro Pacific Capital, and outspoken Goldmoney Inc. (XAU.TO) investor. - During a Twitter conversation with Gemini CEO Tyler Winklevoss, Schiff admitted to being bearish on bitcoin's price.
- Schiff's reply was made to Tyler Winklevoss' tweet on September 5 about how Bitcoin is consolidating and forming a higher base. Schiff's response hinted at a supposed incoming downtrend.
- Schiff attributed the rally in bitcoin to the rally in gold, as well as Grayscale's advertising campaign.
- Peter Schiff went on about being correct about his bullish call on gold from July 5.
Peter Schiff
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Quick Hits: - On September 5, YouTube halted a cryptocurrency-related livestream by Sunny Decree, saying the video violated community guidelines. (Note: YouTube received backlash on June 13 when it suspended Bitcoin.com's official channel based on a copyright claim. After Bitcoin.com Chairman Roger Ver reported the incident, YouTube removed that ban on June 15.)
- Binance will support the upcoming BitShares (BTS) hard fork initiated by the BTS team. After the fork is complete, Binance plans to list the new NBS token on the Binance trading platform. BitShares is a project by Dan Larimer, a crypto celebrity that we discussed in-depth here.
- Conga tapped into insights from tech-forward business leaders to create this fact-packed report: The State of Digital Document Transformation*
*This is a sponsored post.
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 |  | Edited by wide-eyed bitcoin watcher since $1, Aaron Wise. Streaming headline junkie, Associated Press fanboy, eye-strained news terminal watcher, 2017 founder of Cryptocurrency Newsfeed. Temporarily based in Florida while awaiting the construction of cryptopia. |  | | Editor | Written and curated by Eduardo Garcia in New York. Eduardo is a graduate of the Columbia Journalism School M.A. Science program and writes regularly for the New York Times Climate Fwd: newsletter. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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