[Weekly Web3 News Picks] BlackRock and Bitwise submit an S-1 amendment to the Bitcoin spot ETF to the US SEC; the US federal judge accepted Zhao Changpeng's plea agreement but did not decide whether to allow him to return to the UAE before judgment; Fidelity and the SEC held a meeting on the spot Bitcoin ETF and submitted the revised S-1 form

Comparative Weekly Web3 News Picks:

[BlackRock and Bitwise submit an S-1 amendment to the Bitcoin Spot ETF to the US SEC]

Comparing news, Bloomberg analyst James Seyffart posted a document on social media X showing that BlackRock (BlackRock) and Bitwise have once again submitted an S-1 prospectus amendment for their Bitcoin spot ETF.

According to Seyffart, this is clearly the US Securities and Exchange Commission (SEC) issuing the same or very similar instructions to various asset management companies that have submitted Bitcoin spot ETFs.

[Bloomberg Analyst: The first batch of approved Bitcoin spot ETFs may only use a cash subscription mechanism]

Comparing news, Bloomberg's senior ETF analyst Eric Balchunas said in an article on the X platform that everyone is discussing the most important thing is whether the SEC will allow a physical subscription mechanism. Rumor has it that the first group only allows a cash subscription mechanism.

Many issuers are prepared for both (if BlackRock wins support from the SEC, many issuers will also trade in physical form. If not, they will use a cash subscription mechanism).

Furthermore, another big unknown is whether Grayscale GBTC will be allowed to be converted to ETFs in the first batch, and no one really knows anything or has any relevant information.

[Pando Asset submits 19b-4 documents to SEC for its spot Bitcoin ETF]

In comparison, Bloomberg analyst James Seyffart said on the X platform that Swiss asset management company Pando Asset submitted 19B-4 documents to the SEC to apply for a Bitcoin spot ETF. The company submitted an S-1 application last week. Currently, there are 13 potential issuers for spot Bitcoin ETFs.

[Bloomberg Analyst: BlackRock May Transfer $200 Million in Trust Assets to Bitcoin Spot ETF]

Comparing news, Bloomberg analyst Eric Balchunas posted on social media platform X that there is news that BlackRock may transfer about $200 million in trust assets to a Bitcoin spot ETF. This in itself is not a new demand, but it may help them in the early stages of the ETF listing.

More noteworthy is whether and when BlackRock decided to include a Bitcoin spot ETF in their portfolio.

Analysts say $200 million is just a “rational guess” about the private trust's asset management scale, and he wouldn't be surprised if a Bitcoin spot ETF were added to BlackRock's larger portfolio a few months after listing.

[US federal judge accepted Zhao Changpeng's plea agreement, but did not decide whether to allow him to return to the UAE before judgment]

According to The Block, Seattle Judge Richard Jones has accepted a plea agreement from former Binance CEO Zhao Changpeng (CZ) on anti-money laundering violation charges.

However, the judge has yet to consider whether CZ can return to Dubai before trial in February 2024, and the sentence is currently scheduled to be carried out on February 23, 2024.

After years of investigation by federal regulators, CZ last month admitted violating US anti-money laundering and related sanctions. Binance agreed to pay $4.3 billion, one of the largest corporate settlements in history. CZ agreed to pay a $50 million fine and step down as CEO, and not participate in Binance's operations for 3 years.

[a16z announces a list of trends excited about the crypto industry in 2024, including artificial intelligence+blockchain, modular technology stacks, etc.]

Comparatively, a16z crypto announced a list of trends excited about the crypto industry in 2024, including: entering a new era of decentralization; resetting the future UX user experience; the rise of modular technology stacks; the combination of artificial intelligence+blockchain; P2E (Play to Earn) becoming P+E (play and earn); when artificial intelligence becomes a game maker, cryptocurrencies provide guarantees; formal verification becomes easier to access; NFTs become ubiquitous brand assets; SNARK (simple non (Interactive knowledge demonstration) became mainstream.

[Crypto exchange Bitzlato Co-Founder admits $700 million money laundering]

Comparing news, a press release recently released on the official website of the US Department of Justice (DOJ) shows that Anatoly Legkodymov, shareholder and co-founder of the Hong Kong-registered virtual currency exchange Bitzlato, admitted the $700 million money laundering charge. Legkodymov was arrested in January in Miami and charged with illegally transferring funds.

Federal prosecutors said Legkodymov operated Bitzlato as an unauthorized currency exchange business and exchanged $7 billion in cryptocurrencies with Hydra Market, a dark web site that specializes in selling drugs, falsified documents and financial materials, and money laundering services, etc.

According to the indictment, Bitzlato also received more than $15 million in ransomware proceeds, and Legkodymov and his team knew that the exchange was being used by criminals and had been left unchecked for a long time. As part of the plea agreement, Legkodymov agreed to disband Bitzlato and relinquish any claims against Bitzlato's approximately $23 million of seized assets.

[People familiar with the matter: Montenegro's Attorney General plans to extradite Do Kwon to the US]

According to the Wall Street Journal, according to sources familiar with the matter, Montenegro's Attorney General Andrej Milovic said privately that he plans to send Do Kwon to the US instead of facing criminal charges in South Korea.

Do Kwon has been imprisoned in the Balkans since March, and both the US and South Korea are seeking his extradition. Prosecutors from both countries want to try Kwon on charges of fraud and violation of securities laws. A court in Montenegro approved Do Kwon's extradition last month, but it will be up to Attorney General Andrej Milovic to decide whether to send him to the US or South Korea.

Milovic has yet to announce his decision, and he is unlikely to make a decision until the country's courts decide on Do Kwon's last-ditch appeal against the court's ruling.

[Sam Altman-Backed Crypto Startup Mean While Seeks to Raise $100 Million for Bitcoin Private Credit Fund]

Comparatively, according to The Block, Sam Altman-supported crypto startup Mean While Group is seeking to raise $100 million for the Bitcoin Private Credit Fund. The fund is called Mean While Private Credit Fund LP. It was launched by Mean While Advisors, an investment management subsidiary of Mean While. It aims to provide institutional investors with Bitcoin investment opportunities. The fund aims to provide institutional investors with Bitcoin investment opportunities. The fund targets a 5% Bitcoin-denominated yield and aims to achieve a 5% Bitcoin-denominated yield through Borrowers lend bitcoins to generate revenue.

Zac Townsend, co-founder and CEO of Mean While Group, said the fund is seeking to raise $100 million and is expected to be completed by the end of the first quarter of 2024. Townsend said, “We believe Bitcoin will be more valuable in the future. We are providing investors with first-of-its-kind investment products to increase their investment in this asset.”

[Fidelity and SEC Hold Meeting on Spot Bitcoin ETF and Submit Revised Form S-1]

Asset management giant Fidelity (Fidelity) held a meeting with the US Securities and Exchange Commission (SEC) on December 7 regarding its proposed spot Bitcoin ETF, according to a memo on the regulator's website.

Fidelity provided regulators with a paper entitled “Bitcoin ETF Workflow,” which stated: “Through physical creation, arbitrage and hedging are more effective.” It also stated, “Self-clearing ETF market maker companies can act as agent APs for non-self-liquidating ETF market maker companies with cryptocurrency affiliates to promote efficient arbitrage. Allowing physical creation and redemption is critical to improving transaction efficiency and secondary market pricing for all participants”.

Today, Fidelity submitted its second revised spot Bitcoin ETFS-1 form to the SEC.

For more information, welcome to join:

Comparing Twitter:https://twitter.com/BitpushNewsCN

Compare the TG exchange group:https://t.me/BitPushCommunity

Compare TG subscriptions:https://t.me/bitpush

The source must be indicated for reprinting