Crypto Institutional Adoption Appears to Be in the Early Phases: JPMorgan

[Texas Man's Crypto Ponzi Scheme Bankruptcy Exemption Rejected] The U.S. Texas Bankruptcy Court has rejected Nathan Fuller's request for bankruptcy exemption, requiring him to bear over $12.5 million in debt in full. Fuller previously operated the crypto investment firm Privvy Investments LLC, which was accused of running a Ponzi scheme and misusing investor funds. An investigation by the U.S. Trustee Program (USTP) revealed that he concealed assets, forged documents, and obstructed bankruptcy proceedings. The court ultimately denied his debt exemption application.

The current price of ETH is $4325.88, with a 0.74% increase in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 1 hour was 19.46 million US dollars, with multiple orders being the main liquidation and 7.09 million US dollars (36.43%) of ETH liquidation. The data is for reference only.

[U.S. Department of Labor Launches Review of Bureau of Labor Statistics Data Issues] The Office of the Inspector General of the U.S. Department of Labor has announced the launch of a review to evaluate the challenges faced by the Bureau of Labor Statistics in economic data collection and reporting. Previously, the Bureau of Labor Statistics reduced the collection of CPI and PPI data and significantly revised downward the estimated number of new jobs in the Employment Situation Report.

On September 11, U.S. Senate Democrats released the framework for the 'Digital Asset Market Structure Proposal,' aiming to promote bipartisan collaboration. The framework covers seven key pillars, including token jurisdiction, platform regulation, and combating illicit finance, with significant overlap with Republican priorities. Senator Cynthia Lummis praised the bipartisan efforts. The Senate Banking Committee is expected to revise the draft by the end of September, while the Agriculture Committee will also release related content. The proposal may advance by the end of the year.