Binance Morning Post (September 20)

● US SEC Chairman: It plans to reform the financial report disclosure rules, the frequency may be determined by the market According to Wu, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins said that the SEC will promote reforms to the financial report disclosure rules for listed companies. The market will determine the pace of financial report disclosure. In an interview with CNBC, he said that shareholders and creditors will have a direct impact on the frequency of disclosure, but no timetable for reform has been given. ● Grayscale launches Grayscale CoinDesk Crypto 5 ETF tracks five cryptocurrencies According to ChainCatcher, Grayscale announced the launch of the Grayscale CoinDesk Crypto 5 ETF, aiming to track the five most mature cryptocurrencies: Bitcoin, Ethereum, SOL, XRP and ADA. ● Binance: Users who hold at least 200 Binance Alpha points can apply for DL ​​token air investment Binance Alpha will start Dill (DL) trading on September 19, 2025 at 19:30 (UTC+8). After the transaction begins, users holding at least 200 Binance Alpha points can claim 5,000 DL token airdrops. First come first served. If the activity is not over, the score threshold will automatically lower by 15 points per hour. Additionally, claiming for airdrops will consume 15 Binance Alpha points. Users must confirm the application within 24 hours on the Alpha activity page, otherwise they will be deemed to have waived the airdrop. ● CryptoQuant analyst: Reduced risks of long-term cryptocurrency holders support the market continues According to ChainCatcher, CryptoQuant analyst Axel Adler Jr said that while the current market price is rising, long-term holders' risks continue to decline. Expensive short-term tokens are gradually matured and transferred to the long-term holder group, pushing long-term holders to realize prices. This has left long-term holders with no significant increase in MVRV, reducing the risk of normalization. He pointed out that this is a healthy profit reset and a good market structure means that the market may continue when new funds absorb the selling pressure of old holders. ● Binance: River BuildKey TGE The first phase of participation threshold is 209 Alpha points Binance Wallet announces River (RIVER) TGE participation threshold on X. The first phase (BuildKey top-up) requires at least 209 Alpha points, and 15 points will be deducted for participating in the first phase. The second phase (BuildKey transaction) requires at least 61 Alpha points. Alpha points will not be deducted for participation in the second phase. Previous news, Binance Wallet will exclusively launch Aspecta BuildKey mode TGE, and the first phase will launch River (RIVER). BuildKey subscription time is from 15:00 (UTC+8) to 17:00 (UTC+8), and BuildKey transaction time is from 17:00 (UTC+8) on September 19, 2025 to 17:00 (UTC+8) on September 22, 2025. TGE & BuildKey redemption time is 17:00 on September 22, 2025 (UTC+8). The total number of tokens available during the BuildKey subscription period for this event is 2,000,000 RIVERs, and the total number of tokens available during the BuildKey transaction time is 100,000 RIVERs. According to the introduction, River is creating the first "chain abstraction" stablecoin system to connect assets, liquidity and income to different ecology. With its full-chain staking stablecoin satUSD, River allows users to collateralize assets on one chain but mint stablecoins on another chain, thus achieving native income acquisition, leverage operations and scale expansion across the network. ● Pantera: Bitcoin and Ethereum narrative has been finalized, Solana has greater potential for growth Pantera Capital said Solana is ushering in an important turning point in adoption by consumers, fintech companies and institutions, according to ChainCatcher. Companies like Stripe and PayPal have begun building applications on it. The narratives of Bitcoin and Ethereum have been finalized, and Solana has just unfolded. Solana is still in its early stages and currently has no SOL ETFs. The agency's allocation ratio of SOL is obviously insufficient, holding less than 1% of the total supply. In terms of market capitalization, Solana is only 1/20 of Bitcoin and 1/4 of Ethereum, but it is ahead of both in key usage indicators. Solana’s adoption narrative has just begun, with greater asymmetric upside potential.