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first_img Launch platform Ignition: Former members sell 15 million tokens

The official account of the token launch platform Ignition on Robinhood Chain stated that the team provided an explanation after being silent for about a week. On October 23, a team member with access to the developer wallet (0x7d17...69B9) transferred 15 million IGNITION from that wallet to a new wallet without the consent of the other members and sold it seconds later. The proceeds were sent to their personal wallet, which had previously been receiving their share of creator fees. The official statement indicated that this person no longer agrees with the project's direction and is no longer part of the project.The official statement mentioned that the creator fee permissions have been transferred to a new wallet that is solely controlled by the existing team. The launch platform is still operational, the Hook Layer testnet continues to run, and the Hook Pad for developers remains open. Future plans include transferring creator fees to a multi-signature wallet controlled by the team to prevent a single person from transferring again; publicly disclosing the fee, treasury, and team wallet lists; advancing the Hook Layer mainnet; and resuming weekly updates. The official also stated that related operations had previously been visible on-chain and will be explained by the team in advance.According to the project's official website, Ignition is a token launch platform deployed on Robinhood Chain, with issued tokens being ERC20 with a fixed supply, trading in the Uniswap v4 pool since the initial block. Hook Layer is its proprietary chain built on Robinhood Chain, with gas fees paid in IGNITION, and developers can configure hook modules for tokens through Hook Pad.

first_img Full statement from the Federal Reserve: Interest rates unchanged, two members support rate hike

In the early hours of Thursday, the Federal Reserve decided to maintain the federal funds rate target range at 3.75% to 4.00% with 10 votes in favor and 2 votes against. Lisa D. Cook and Beth M. Hammack cast the dissenting votes, both advocating for a 25 basis point increase at this meeting.The Federal Open Market Committee approved the following statement with 10 votes in favor and 2 votes against:The Committee decided to maintain the federal funds rate target range at 3.75% to 4.00% to support the Federal Reserve's dual mandate. The Committee continues to implement a policy of maintaining ample reserves in the banking system.Economic activity is expanding at a strong pace. Despite factors such as geopolitical tensions keeping uncertainty high, domestic spending remains resilient. Productivity growth is strong, and capital investment is robust. Employment growth is in line with the growth of the labor force, and the unemployment rate has not changed significantly.Inflation remains elevated. Gathering more information will help the Committee determine the appropriate policy stance to ensure inflation returns to the Committee's 2% target in a timely manner. The Committee will achieve price stability.The members voting against this monetary policy action were Lisa D. Cook and Beth M. Hammack, both advocating for a 25 basis point increase in the federal funds rate target range at this meeting.

first_img Fairshake announced the list of 32 current members of the U.S. House of Representatives it supports

The cryptocurrency industry's main political action committee Fairshake has announced a new list of endorsements, supporting 32 current members of the U.S. House of Representatives in the November elections, including 13 Democrats and 19 Republicans. According to Fairshake spokesperson Geoff Vetter, six of them will each receive $1 million in support from Fairshake and its affiliated organizations. Vetter stated that Fairshake supports pro-crypto candidates from both parties who advocate for American innovation.The three Republicans receiving significant support are House Financial Services Committee Chairman French Hill, senior committee member Bill Huizenga, and Bryan Steil, who also serves as chairman of the Digital Assets Subcommittee. On the Democratic side, Nevada Representative Steven Horsford and California Representative Derek Tran received higher support, both earning an A rating in the digital asset issue assessment from Stand With Crypto, along with Oregon Representative Janelle Bynum. Bynum defeated Republican Lori Chavez-DeRemer two years ago to win her seat, the latter having previously served as Labor Secretary under the Trump administration.These members largely come from the House fundraising committee and the key Financial Services Committee, which will handle cryptocurrency tax issues. Vetter noted that Fairshake has supported 53 winners in 57 primary campaigns, aiming to create the largest pro-crypto caucus in American history.
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