US banking giant U.S. Bancorp to launch Bitcoin custody service

US banking giant U.S. Bancorp, with a market value of approximately $700 billion, plans to launch Bitcoin custody services, marking the entry of Bitcoin into Wall Street. （The Bitcoin Historian）

[Alt5 Sigma Board Only Learned of Company's Money Laundering Conviction in Rwanda at the End of August] The Alt5 Sigma board only became aware at the end of August of the company's conviction in a money laundering case in Rwanda back in May, several months after the World Liberty Financial transaction had taken place. Previously, Alt5 Sigma had dismissed several executives, including acting CEO Jonathan Hugh and COO Ron Pitters.

The company adopted a bitcoin treasury plan by deploying a strategy inspired by Metaplanet, with 66% shareholder approval, to mitigate negative returns from government bonds.

[Thirteen Departments Jointly Crack Down on Illegal Financial Activities Related to Virtual Currencies] The People's Bank of China recently held a meeting of the coordination mechanism to combat virtual currency trading and speculation, attended by officials from thirteen departments, including the Ministry of Public Security and the Cyberspace Administration of China. The meeting called for adherence to the prohibitive policy on virtual currencies and continued efforts to crack down on related illegal financial activities. The meeting noted that significant progress has been made in rectifying the chaos surrounding virtual currencies in recent years, but speculative trading of virtual currencies has resurged recently, with illegal and criminal activities occurring from time to time. The meeting emphasized that virtual currencies do not have the status of legal tender, and related business activities constitute illegal financial activities. It also pointed out that stablecoins carry risks of being used for illegal activities. The meeting urged all units to deepen collaboration, improve regulatory policies, enhance information sharing and monitoring capabilities, strictly crack down on illegal activities, and maintain the stability of economic and financial order.

[Cryptoquant Founder States ETH 'Fair Value' is Approximately $4,836] Cryptoquant founder and CEO Ki Young Ju stated that among 12 commonly used valuation models, 9 undervalue ETH's worth. The combined results of all models estimate ETH's 'fair value' to be approximately $4,836, requiring an increase of over 58% from the current price. Among the 12 models, 8 have a reliability rating of at least Level 2, with Level 3 being the most reliable. Ju mentioned that these models were constructed by authoritative experts from academia and traditional finance sectors.