比推一周回顾 · 236

[Weekly Comparative Review] Since the adoption of the spot Bitcoin ETF, Grayscale has transferred BTC worth 5.5 billion US dollars to Coinbase; BlackRock's spot Bitcoin ETF's daily trading volume surpassed GBTC for the first time; the Federal Reserve kept interest rates unchanged, Powell said it was “unlikely” to cut interest rates at the March meeting; Google allowed the promotion of advertisements related to Bitcoin and cryptocurrency trust products

[Since the adoption of the spot Bitcoin ETF, Grayscale has transferred $5.5 billion worth of BTC to Coinbase] In comparison, Lookonchain monitoring data showed that 2 hours ago, Grayscale (Grayscale) once again deposited 1,769 BTC (75.47 million US dollars) into Coinbase Prime. Since the adoption of the spot Bitcoin ETF, Grayscale has transferred 133,339 BTC worth $5.5 billion. [FTX plans to sell its $175 million Genesis claims to repay creditors] In comparison, according to official sources, the bankrupt cryptocurrency exchange FTX intends to sell its $175 million Genesis general unsecured claims. FTX proposes to trade all or part of the claim with single or multiple buyers through public auctions or private transactions, and the funds raised will be used to facilitate debt repayment and adjust its financial obligations to creditors. [As of the close of the US stock market, BlackRock's Spot Bitcoin ETF's daily trading volume surpassed GBTC for the first time] According to Bloomberg Intelligence data, as of the close of the US stock market on February 1, the daily trading volume of BlackRock's Spot Bitcoin ETF (IBIT) surpassed GBTC for the first time. IBIT was slightly above 300 million US dollars, and GBTC was about 290 million US dollars. Bloomberg analyst James Seyffart said, “There are still a few after-hours trades, but it looks like IBIT is the first ETF to surpass grayscale GBTC in a single day. Although today's total trading volume is $924 million, it's still a bit bad. This is the first time since its inception that this type of product has traded less than $1 billion in a single day.” [Genesis, a bankrupt crypto lender, reached a settlement with the SEC over the issuance of unregistered securities] According to Bloomberg, the bankrupt crypto lender Genesis Global Holdco LLC has reached an agreement with the US Securities and Exchange Commission (SEC) to settle a civil lawsuit accusing Genesis of violating securities rules through the now-terminated Gemini Earn program. Genesis agreed to pay $21 million in civil fines to the SEC to settle the lawsuit. But according to filing with the New York Bankruptcy Court on Wednesday, the company will only be required to pay fines if it is able to fully repay its customers and other creditors as required by Chapter 11 of the Bankruptcy Code. [Ripple co-created 213 million XRP, and the stolen funds have been laundered through multiple channels] In comparison, on-chain detective ZachXBT posted on social media that it detected that Ripple-related accounts had been stolen by hackers with 213 million XRP (about 112 million US dollars). The co-founder of Ripple later wrote that his personal account was stolen and not Ripple's official. The stolen funds have been laundered through MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC, etc. [Glassnode Report: Most long-term holders “stay firm” and are unwilling to sell BTC at the current price] In comparison, Glassnode released a market report saying that most long-term Bitcoin investors “remain firm” and are still unwilling to sell Bitcoin at the current price, and the vast majority of holders “seem to be calmly navigating the market wave.” Glassnode's last active Bitcoin supply indicator (which measures the proportion of Bitcoin's circulating supply held over a multi-year time period) shows that the vast majority of the BTC supply is still held. The report said, “Either they are waiting for the spot price to rise, or it may be that increased volatility is the driving force for spending.” [Google allows promotion of advertisements related to Bitcoin and cryptocurrency trust products] Comparing Twitter news, Google has updated advertising regulations to allow promotion of Bitcoin and crypto trust products. With the new policy update, BlackRock (BlackRock) and VanEck are now promoting their spot Bitcoin ETF products on Google search pages. Compare Twitter: https://twitter.com/BitpushNewsCN比推 TG Community: https://t.me/BitPushCommunity比推 TG Subscriptions:... https://t.me/bitpush本文来自比推

930d agoyijunzhong007@outlook.com#Weekly review of the comparison

[Weekly review] Sources: FTX bankruptcy agency sold about $1 billion of Grayscale Bitcoin ETF; Alameda Research has withdrawn lawsuit against Grayscale; US government will sell $130 million worth of bitcoin linked to Silk Road agents

The following is a review of the week's key news: [Source: FTX Bankruptcy sold a Grayscale Bitcoin ETF worth about $1 billion] In comparison, Coindesk quoted sources as reporting that since the Bitcoin ETF was approved, the price of Bitcoin has fallen. Among them, FTX has sold 22 million grayscale GBTC shares, a large part of which is an outflow of capital, worth close to 1 billion US dollars. Like many large cryptocurrency trading entities, FTX takes advantage of the difference between the price of Grayscale Trust shares and the underlying net asset value of Bitcoin in the fund. As of October 25, 2023, FTX held 22.3 million GBTC, according to a filing filed on November 3, 2023. Based on the January 11th closing price, these GBTC values rose to around $900 million. [Alameda Research has withdrawn its lawsuit against Grayscale] According to a court document on Monday, FTX affiliate Alameda Research has withdrawn its lawsuit against Grayscale Investments. The lawsuit alleges that Grayscale sought benefits at the expense of shareholders' interests. Alameda reportedly filed a lawsuit in the Delaware state court in March last year, accusing Grayscale of charging high fees and refusing to allow investors to redeem their shares from two trusts focused on cryptocurrencies. GBTC began trading as an exchange-traded fund on NYSE Arca earlier this month after the US SEC approved the conversion of its existing Grayscale Bitcoin Trust Fund to an ETF. A spokesman for Du said, “Alameda Research's voluntary withdrawal of the lawsuit highlights Grayscale's position that this legal action has no basis at all.” [Core Scientific will return to NASDAQ, and trading is scheduled to resume on Wednesday morning] According to CNBC, Bitcoin miner Core Scientific has completed the restructuring process and re-listed on the NASDAQ, and trading is scheduled to resume on Wednesday morning. Core operates in five US states, mining bitcoin and other cryptocurrencies: Texas, North Dakota, Georgia, North Carolina, and Kentucky. Instead of liquidating, Core continued to operate and reached an agreement with senior securities note holders who held most of the company's debts. The restructuring plan announced on Tuesday has cut $4 billion in debt from Core's balance sheet. [US government will sell $130 million worth of bitcoins relating to Silk Road agents] Comparing news, the US government submitted a notice that it will sell more than $130 million worth of bitcoins related to Silk Road agents. The announcement listed two batches of bitcoins the government plans to sell. The first batch was around 2,800 BTC worth around $129 million, and the second smaller batch, 58 BTC, was worth around $3 million. These bitcoins are linked to Ryan Farace, who was jailed for 54 months last year in Maryland for conspiring to launder money. The first batch of bitcoins was also linked to Shaun Bridges, a former Secret Service agent and a member of the Baltimore Silk Road Task Force. In 2015, Bridges was sentenced to six years in prison for stealing bitcoins during the US government's investigation into the dark Silk Road market. [J.P. Morgan Analyst: GBTC profit recovery is basically over, Bitcoin's downward pressure is limited] Comparing news, J.P. Morgan analysts expect that since GBTC's profit recovery has basically ended, there is limited room for further decline in Bitcoin. After the US approved a spot Bitcoin ETF, the price of Bitcoin fell by more than 20% in the past two weeks. Analysts said that the cashing out of GBTC investors' profits led to a drop in the price of Bitcoin, but the worst seems to be over. Despite the positive outlook, analysts warned that if GBTC's 1.5% fee is not reduced soon, the fund could experience continued capital outflows and lose market share to competitors. Finally, the analyst concluded that GBTC's plan to launch a bullish ETF, if approved, would boost the fund and the Bitcoin derivatives market. [BlackRock's spot Bitcoin ETF asset management scale reached 2 billion US dollars for the first time] Comparative news, BlackRock's spot ratio...

937d agokatielin#Weekly review of the comparison

[Weekly review] Federal Court approves settlement agreement between Binance and CFTC; SEC delays resolution on ARK Invest and VanEck's Ethereum spot ETF; companies such as Ark/21 Shares and BlackRock submit amendments to spot Bitcoin ETF to SEC

Here's a review of the week's key news: [Federal Court Approves Settlement Agreement between Binance and CFTC] In comparison, the US Commodity Futures Trading Commission (CFTC) announced today that the US District Court for the Northern District of Illinois has approved its previously announced settlement agreement with Binance and signed against Zhao Changpeng (CZ) and his companies Binance Holdings Limited, Binance Holdings (IE), and Binance ( Services) Holdings Limited's injunctions and civil fines. CZ will pay the CFTC $150 million, and Binance will pay the CFTC $2.7 billion. The order also requires CZ and Binance to certify the existence, application, and effectiveness of compliance controls and permanently ban them from further violations. [SEC Postpones Decision on ARK Invest and VanEck's Ethereum Spot ETF] In comparison, according to documents posted by Bloomberg analyst James Seyffart on social media X, the US Securities and Exchange Commission (SEC) has delayed making Ethereum spot ETF applications for ARK Invest/21Shares and VanEck Resolution. The original deadline was December 26, and the new resolution date is late May 2024. [Ark/21 Shares, BlackRock, etc. submit revisions to spot Bitcoin ETFs to the SEC] On Twitter, Bloomberg analyst James Seyffart said that Ark Invest/21 Shares and BlackRock submitted the third revision of their spot Bitcoin ETF to the SEC. WisdomTree has submitted a fourth revision to the SEC regarding its spot Bitcoin ETF, and Bloomberg analysts have indicated that the companies will likely use a cash-created ETF model. [BlackRock has met with the SEC again; the total number of meetings between ETF applicants and the SEC has reached 24] In comparison, the US Securities and Exchange Commission (SEC) Market Supervisory Office, Trading and Marketing Department once again met with BlackRock executives on December 19, local time, to discuss the details of the spot Bitcoin ETF. According to statistics from Bloomberg analyst James Seyffart, this brings the total number of official meetings between current applicants and the SEC to 24. [BlackRock, Hashdex, and Pando Asset submit revised spot Bitcoin ETF S-1 documents to the SEC] In comparison, Pando Asset has submitted a revised spot Bitcoin ETF S-1 file to the SEC. Bloomberg analysts said that although the document stated that “cash creation may be necessary,” they still retained the “permitted physical object” statement. BlackRock and Hashdex have submitted revised S-1 documents for their spot Bitcoin ETF. [Coinbase obtains cryptocurrency license in France] According to CNBC, French AMF regulators approved the registration of Coinbase as a virtual asset service provider (VASP), which actually gave the company the green light to operate crypto services in the country. The VASP registration will allow Coinbase to provide digital asset escrow, trade digital assets with fiat currency, trade digital assets with other digital assets, and operate a digital asset trading platform. According to reports, French President Emmanuel Macron is seeking to make the country a center for technologies such as artificial intelligence and cryptocurrencies, and has promised billions of euros in subsidies and state funding. Author: BitPushNews Katie Lin for more information Welcome to join: BitPush Twitter: https://twitter.com/BitpushNewsCN比推 TG Community Group: https://t.me/BitPushCommunity比推 TG Subscriptions: https://t.me/bitpush本文来自比推 https://www.bitpush.news/articles/4750325，转载需注明出处...

972d agokatielin#Weekly review of the comparison

[Comparative Weekly Review] Bloomberg Analyst: Multiple spot Bitcoin ETFs may be approved during the 8-day window starting November 9; Sun Yuchen: The Poloniex team has frozen some assets related to the hacker's address and will gradually resume Poloniex deposits and withdrawals in the next few days; the DeFi platform Raft was attacked by $3.3 million, and the hackers also suffered losses

The following is a weekly review of key news: [Bloomberg: Stablecoin issuer Circle is considering an IPO in 2024] Comparative news. According to Bloomberg, people familiar with the matter revealed that stablecoin issuer Circle is considering an IPO in 2024. People familiar with the matter said the company is in discussions with advisors to prepare for a potential initial public offering. The review is ongoing, and it is uncertain whether Circle will decide to continue listing. Circle abandoned a merger and listing deal with Concord Acquisition Corp. last year, valued at $9 billion. Concord Acquisition Corp. is a blank check company led by Bob Diamond, the former CEO of Barclays Plc (Barclays Plc). According to Axios data, Circle has raised capital from investors such as Goldman Sachs Group, General Catalyst Partners, BlackRock, and Fidelity Management, and the company was valued at 7.7 billion US dollars in the 2022 round of financing. [Robinhood plans to expand crypto trading services to the European Union and develop brokerage business in the UK] According to Twitter news, trading platform Robinhood (HOOD) plans to launch EU cryptocurrency trading and UK brokerage business within the next few weeks. “With an experienced team, we will soon launch our brokerage business in the UK,” Robinhood said in its third-quarter earnings report on Tuesday. The company added: “As another step in global expansion, we are also planning to launch cryptocurrency trading in the European Union after the launch of cryptocurrency trading in the UK.” The move comes at a time when new promotional rules require cryptocurrency companies to provide clear risk labels and implement system changes, which came into effect on October 8, and some cryptocurrency companies have suspended services to UK customers. [People familiar with the matter: SEC has begun negotiations with Grayscale on the details of converting GBTC to a spot Bitcoin ETF] According to Coindesk, a person familiar with the matter revealed that the US Securities and Exchange Commission (SEC) has begun negotiations with Grayscale Investments (Grayscale Investments) on the details of the company's application to convert its trust product GBTC into a spot Bitcoin exchange trading product (ETF), which may have a significant impact on the crypto industry. The person, who asked not to be named, said Grayscale has been in touch with the SEC's trading markets department and the CorporationFinance department since winning the court lawsuit. Both departments will play a role in formulating and approving the company's ETF application, and the negotiations remain confidential. [Bloomberg Analyst: Multiple spot Bitcoin ETFs may be approved during the 8-day window starting November 9] In comparison, Bloomberg analysts James Seyffart and Eric Balchunas wrote that during the 8-day window starting November 9, the US Securities and Exchange Commission (SEC) may approve all 12 US spot Bitcoin ETF applications, including Grayscale's ; GBTC, the approval window will be open until November 17. Seyffart and Balchunas added that even without approval this month, “we still believe there is a 90% chance of getting approved on January 10th.” According to previous reports, the SEC has also issued delay orders against BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity, and Valkyrie. [Nasdaq submits 19b-4 documents for BlackRock's proposed iShares Ethereum Trust ETF] According to the 19b-4 documents submitted on Thursday afternoon New York time, BlackRock (BlackRock), the world's largest asset management company, has confirmed plans to launch an existing Ethereum ETF. Just hours after BlackRock filed an application for a registered entity in Delaware, Nasdaq submitted an application for the proposed ETF (called iShares Ethereum Trust). After...

1014d agokatielin#Weekly review of the comparison

[Comparative Weekly Review] Former Alameda CEO: Alameda embezzled about $14 billion from FTX customers; Bitstamp will stop providing services to Canadian customers from January next year; US CFTC sues former CEO of Voyager Digital for fraud in large-scale product pool plans

The following is a review of the week's key news: [Bitcoin supporter Robert Kennedy Jr., will withdraw from the Democratic Party and run for US President as an independent person] Comparative news. According to the Associated Press, the pro-Bitcoin US presidential candidate Robert F. Kennedy Jr. (Robert F. Kennedy Jr.) In a speech, it was announced that he would leave the Democratic Party and run for election as an independent person. According to reports, JFK has been accusing the Democratic National Committee of “manipulating” the party's primary election against him and threatening that he may need to consider other options. Robert Kennedy Jr. has stated that if elected, he will be exempt from cryptocurrency capital gains tax, and that he is willing to use hard assets such as gold, silver, platinum, and Bitcoin to support the US dollar to enhance the competitiveness of the US dollar. [Former Alameda CEO: Alameda misappropriated approximately $14 billion from FTX customers] According to Bloomberg, former Alameda Research CEO Caroline Ellison testified in court in the Sam Bankman-Fried case. Ellison told jurors that she and Bankman-Fried and others defrauded FTX's customers and investors and Alameda Research's lenders. Ellison said, “Alameda has taken billions of dollars from FTX customers and used them to invest in their own investments and repay lenders. We ended up taking around $14 billion, some of which we were able to pay back”. “He was originally Alameda's CEO and Alameda's owner, and he directed me to commit these crimes,” Ellison said, pointing to Bankman-Fried in the defense. [Bitstamp will stop providing services to Canadian customers from January next year] According to The Block, the cryptocurrency exchange Bitstamp will stop providing services in Canada early next year. Bobby Zagotta, CEO and global chief commercial officer of Bitstamp in the US, said in a statement: “After initial notice to our valued customers in March, Bitstamp will officially stop providing services to Canadian customers from January 8, 2024. As a result, all Canadian accounts will be closed and customers will no longer be able to access their accounts.” Zagotta urges customers to withdraw their funds by January. Zagotta added that it hopes to be able to serve Canadian customers again at some point in the future. [Former CEO of Alameda Research: Bribed Chinese Officials to Unlock Foreign Exchange Accounts Worth $1 Billion] Comparing news, during the Sam Bankman-Fried trial on Wednesday, former CEO Caroline Ellison of Alameda Research testified that the crypto trading company bribed Chinese officials to unlock its OKX and China Alameda trading account on Huobi. Ellison testified that when SBF became CEO in 2020, accounts worth about $1 billion were frozen. SBF said in November 2021 that one of his colleagues “had a relationship” in China and found a way to unfreeze the account. Ellison said the accounts were reopened to Alameda after paying around $100 million to $150 million in “cryptocurrency transfers” to the accounts, and although she “wasn't sure who,” she later revealed that the accounts were linked to Chinese officials, and SBF told her to pay via the Signal chat window. When asked during the review why she didn't indicate in writing that the $150 million was paid to the Chinese account, Ellison said she “didn't want to indicate in writing what we paid to unlock the account” because she “thought it might be leaked and used against Alameda in a court case.” [Caroline Ellison has prepared 7 balance sheets under SBF instructions to cover up multi-billion dollar loans] Comparing news, at 1...

1042d agokatielin#Weekly review of the comparison

[Weekly Comparative Review] Citi launches a token service that can convert customer deposits into digital tokens for transfers; Balancer: The front-end has been restored to security and has returned to Balancer DAO control; Linear Finance has been hacked, and all LUSD liquidity in PancakeSwap and Ascendex has been exhausted

The following is a review of the week's key news: [Citi launches a token service that can convert customer deposits into digital tokens for transfers] Comparing news, Citigroup Inc. (Citigroup Inc.) announced the launch of the token service “Citi Token Services.” The new product turns customer deposits into digital tokens that can be instantly sent anywhere in the world. The service is provided by Citigroup's Finance and Trade Solutions division, which has worked to date to improve cash management and trade finance capabilities. The statement said that for the new product, the company will rely on a private blockchain owned and managed by itself; customers will not need to set up their own digital wallet, but can access the service through the bank's existing system. Citi has teamed up with a canal authority and Maersk, one of the world's largest shipping companies, to test this new service. The pilot project shows that banks can instantly transfer tokenized deposits to suppliers based on smart contracts. [The New York Department of Financial Services issues proposed guidance aimed at strengthening the regulation of crypto companies] In comparison, the New York Department of Financial Services (NYDFS) issued proposed guidance on Monday to strengthen supervision of how crypto companies list or delist tokens and add tokens to the “green list.” The NYDFS proposal requires cryptocurrency companies to set certain standards on how to assess risk, including fraud, price manipulation, and whether there is sufficient liquidity to meet customer needs. The regulator said the proposal also requires companies to develop and submit a token delisting policy. NYDFS stated, “If a listed token is determined to have a new upward risk, whether through the venture capital entity's monitoring process, a weakness or vulnerability determined by the department, or otherwise, the venture capital entity must be able to stop supporting the token in the following ways: in line with safety and soundness, and to protect customers and the public,” according to the proposed guidelines, cryptocurrency companies will not be able to self-certify any token until the regulator approves its token listing policy in writing. Comments on the proposed guidelines will close on October 20. [Venmo, a social payment platform owned by PayPal, will launch PYUSD] According to an official press release, Venmo, a social payment platform owned by PayPal, announced that it will launch PayPal USD (PYUSD), a PayPal dollar stablecoin. PayPal USD is now available to select users on Venmo and will be fully rolled out in the coming weeks. Venmo users can buy PYUSD and send it to friends and family via PayPal, Venmo, and compatible external wallets. According to reports, Venmo is a subsidiary of payment giant PayPal, and PayPal collaborated with crypto infrastructure company Paxos to launch PyUSD on August 7. Nearly a month later, PayPal added a cryptocurrency exchange service for US dollars on September 11, where users can exchange digital currencies for US dollars as legal tender. [Balancer: The front end has been restored to security and has returned to Balancer DAO control] Comparing the news, Balancer released an update on the DNS attack, stating that it can be confirmed that the domain is now secure and is back under the control of Balancer DAO. app.balancer.fi and other balancer.fi domains are safe to use. The team said that after investigation, it was clear that this was a social engineering attack against EuroDNS (domain registrar for .fi top-level domains), Balancer is exploring abandoning the.fi TLD in order to move to a more secure registrar, and is recommending that other projects using TLDs do the same. [Three US Second Circuit Court of Appeals Judges Reject Motion for Early Release of SBF] In the September 21 order, a jury composed of three US Second Circuit Court of Appeals judges rejected the motion to release former FTX CEO Sam Bankman-Fried (SBF) early. The jury believes this decision was mainly based on the First Amendment. According to the ruling, Judge Lewis Kaplan, in charge of the SBF criminal case, had “correctly determined” that SBF constituted witness tampering. The appellate court's ruling is probably one of SBF's last chances of being released before the first criminal trial. The first criminal trial is scheduled to begin on October 3, and there are currently remaining...

1063d agokatielin#Weekly review of the comparison

[Weekly review] PayPal will launch PyUSD, a US stablecoin, which will be issued by Paxos and will be open to US customers; the base main network is officially launched, and the ecosystem currently has more than 150 dapps and service providers; Bittrex reached a settlement with the SEC and agreed to pay a fine of 24 million US dollars

The following is a weekly review of key news: [PayPal will launch PyUSD, a US stablecoin, issued by Paxos and open to US customers] Compared to news, PayPal will launch PayPal USD (PYUSD), a US dollar stablecoin for transfers and payments. The stablecoin is issued by Paxos Trust Co., and is supported by US dollars, short-term treasury bonds, and cash equivalents. PyUSD will gradually be made available to PayPal customers in the US. Users will be able to transfer it to compatible wallets outside of the PYPL network. [Source: Bitcoin spot ETFs will be approved “within four to six months”] Comparing news, Bloomberg senior ETF analyst Eric Balchunas tweeted that Galaxy CEO Mike Novogratz said in an earnings call that, according to BlackRock and Invesco internal “sources”, the Bitcoin spot ETF will be approved “within four to six months” rather than the question of “whether they will be approved”. Also worth noting, “We will compete for market share like cats and dogs”, Cathie Wood's point of view on Bloomberg's ETF IQ is that all of these ETFs will basically do the same thing (hold Bitcoin), so marketing will be critical. [Base main network officially launched, currently the ecosystem has more than 150 dapps and service providers] Comparing news, the Base main network has been officially opened to the public, with more than 100 Dapps and service providers as part of the Base ecosystem. Jesse Pollak, head of the Base Protocol, said that compared to Ethereum, users can explore these Dapps and benefit from lower transaction fees and faster transaction speeds. The Base network tweeted that currently, there are more than 150 high-quality, user-friendly dapps and service providers in the Base ecosystem, all of which are seamlessly integrated with the Coinbase product ecosystem. Users can explore the Base ecosystem and enjoy near-zero gas fees, fast settlement speed, and secure transactions. [Gemini relaunches XRP token to open support for XRP Ledger (XRPL)] On Twitter, Gemini issued a statement saying that the Gemini mobile app and website now support XRP transactions for USD, GBP, EUR, CAD, SGD, HKD, and AUD currency pairs. Allegedly, these tokens can be stored in Gemini exchange wallets, but are yet to be used in Gemini Custody. Gemini has also opened support for XRP Ledger, which is now compatible with 13 blockchain networks, including: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC), Bitcoin Cash (BCH), Polkadot (DOT), Avalanche (AVAX), Cosmos (ATOM), Zcash & nbsp; (ZEC), Filecoin (FIL), Dogecoin (DOGE), and Tezos (XTZ). [Bittrex reached a settlement with the SEC and agreed to pay a $24 million fine] According to Twitter, cryptocurrency exchange Bittrex settled the allegation of providing unregistered securities to US investors and agreed to pay a $24 million fine within two months after the exchange submitted a liquidation plan. The US Securities and Exchange Commission (SEC) filed a lawsuit against Bittrex, which filed for bankruptcy in May earlier this year, alleging that it simultaneously operates a stock exchange, broker, and clearing house, but is not registered with regulators. According to Thursday's court documents, Bittrex neither admits nor denies the allegations, nor can they make any public statements that might indicate that the SEC's allegations are unfounded. [Custodia Bank has accepted US dollar deposits and will support Bitcoin escrow services] According to Twitter news, the crypto-friendly bank Custodia...

1105d agokatielin#Weekly review of the comparison

[Comparative Weekly Review] The court ruled that Ripple's sale of XRP on exchanges and algorithms did not constitute an investment contract, but that institutional token sales violated securities laws; Coinbase suspended its retail staking services in four US states; Bloomberg ETF Analyst: US SEC has confirmed acceptance of Bitcoin spot ETF documents submitted by BlackRock, Invesco, and Fidelity; US Senator Cynthia Lummis submitted a revised “Responsible Financial Innovation Act” to the Senate

The following is a review of the week's key news: [The court ruled that Ripple's sale of XRP on exchanges and algorithms does not constitute an investment contract, but institutional sale of tokens violates securities law] Comparing news, a New York court ruled on Thursday that Ripple's sale of XRP tokens on exchanges and through algorithms does not constitute an investment contract, but the sale of tokens by institutions does violate federal securities laws. The ruling stated: “After considering economic reality and the overall circumstances of institutional sales, the court concluded that Ripple's XRP institutional sale constituted an unregistered investment contract offer and sale, in violation of section 5 of the Securities Act.” The US Securities and Exchange Commission (SEC) motion was partially approved and partially rejected. Ripple's motion was also partially approved and partly rejected. According to the documents, the case will enter the trial stage. After the news broke, XRP rose by nearly 30% and is now at $0.609. [Fox News Reporter: SEC is satisfied with some of the court's ruling, but will still weigh the final decision] In comparison, according to Fox News reporter Eleanor Terrett's latest tweet, the SEC responded to Fox News about the court's ruling. The SEC said it was satisfied with part of the ruling but would still weigh the court's final decision. The SEC's response stated, “The court found that Ripple provided and sold XRP tokens in the form of investment contracts in violation of securities laws. We were satisfied with the court's ruling. The court agreed with the US Securities and Exchange Commission (SEC) view that the Howey test determined the securities analysis of crypto transactions, and rejected Ripple's self-testing of what constitutes an investment contract. Instead, Howey and subsequent cases have ruled that various tangible and intangible assets can be the subject of investment contracts. Additionally, the court rejected Ripple's fair notice argument, stating that the Howey test was clear, and claiming that an ignorant is not guilty is not a defense against securities laws. We will continue to review the court's decision”. [Coinbase suspends its retail staking services in California, New Jersey, South Carolina, and Wisconsin] According to Twitter, the cryptocurrency exchange Coinbase is suspending its retail staking services in California, New Jersey, South Carolina, and Wisconsin. Previously, these states said they would request changes to these services, while lawsuits against such pledge services continued. Coinbase wrote in a blog post: “We strongly disagree with any allegation that our pledging services are securities, but we will fully comply with preliminary orders when needed, even before we have a chance to defend ourselves.” Comparing to previous reports, the US Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase last month to classify its staking service and several of its listed tokens as securities. On the same day, securities agencies in ten US states began filing lawsuits against Coinbase. [Bloomberg ETF Analyst: The US SEC has confirmed acceptance of Bitcoin spot ETF documents submitted by BlackRock, Invesco, Fidelity, etc.] In comparison, Bloomberg ETF analyst James Seyffart tweeted that the US Securities and Exchange Commission (SEC) has confirmed (agreed) to accept Bitcoin ETF applications from BlackRock, VanEck, Invesco/Galaxy Digital, Fidelity, and WisdomTree. Seyffart notes, “This is just one step in the process, and it could happen even if Gensler/SEC plans to reject them next month.” Earlier, the crypto media Bitcoin Archive tweeted that the SEC has officially confirmed receipt of Bitwise's Bitcoin ETF application documents. Bloomberg ETF analyst James Seyffart explained that this has officially begun the US SEC review process. [US Senator Cynthia Lummis submits a revised “Responsible Financial Innovation Act” to the Senate] In comparison, US Senator Cynthia Lummis announced that she is re-submitting the revised “Responsible Financial Innovation Act” with New York Democratic Senator Kirsten Gillibrand to the Senate to create a federal regulatory framework so that cryptocurrency companies and investors can prosper and develop in the US while protecting consumers from...

1133d agoWendy#Weekly review of the comparison

[Comparative Weekly Review] PeckShield: More than $130 million in cryptocurrency has flowed out of Multichain Bridge, or was triggered by a security breach; The New York Times: Taylor Swift agreed to sign a $100 million sponsorship agreement with FTX, but SBF decided to withdraw; Gemini filed a fraud lawsuit against DCG and its founder Barry Silbert

The following is a review of the week's key news: [NASDAQ updates BlackRock's application documents to designate Coinbase as a regulatory sharing agreement partner] According to a public regulatory document, NASDAQ has re-submitted iShares Bitcoin Trust's Form 19b-4, a spot Bitcoin ETF headed by BlackRock (BlackRock). According to the documents, the exchange said it has reached an agreement with cryptocurrency exchange Coinbase to sign a supervisory sharing agreement (SSA) and is expected to reach a “final agreement” before the deal. “The spot BTC SSA is expected to be a bilateral regulatory sharing agreement between Nasdaq and Coinbase to complement the exchange's market supervision plans,” the document reads. The Chicago Board Options Exchange also submitted similar documents on behalf of Fidelity and others last week. Comparing to previous reports, the Wall Street Journal said last week that the US Securities and Exchange Commission (SEC) told NASDAQ and the Chicago Options Exchange that the spot Bitcoin ETF fund documents recently submitted by BlackRock, Fidelity, and others were not “clear and comprehensive.” [Starkware plans to deploy the “Quantum Leap” major upgrade on the Starknet mainnet on July 13] According to a press release issued by StarkWare, the company behind Starknet, the major upgrade “Quantum Leap” went live on the testnet on Wednesday. If the Starknet community approves the code changes in a governance vote, the upgrade will be deployed around July 13 Starknet's main network. This upgrade is part of Starknet's roadmap, which includes a series of upgrades designed to make it more scalable. According to the Starknet Roadmap website, its team plans to make other upgrades in the third and fourth quarters of 2023 aimed at reducing transaction fees and shortening block intervals. Although it's unclear how many transactions per second Starknet will process once the upgrade goes live, StarkWare said the blockchain will be able to process at least 100 transactions once deployed. The team also said that as congestion decreases, Starknet will become a more competitive alternative when building apps. [PeckShield: More than $130 million of cryptocurrency has flowed out of Multichain Bridge, or caused by a security flaw] In comparison, data tracked by the on-chain security company PeckShield shows that multiple bridge contracts operated by Multichain (formerly Anyswap) have seen a large outflow of tokens, and more than 130 million US dollars of cryptocurrencies have been transferred from Multichain's Fantom, Moonriver, and Dogechain Bridges. PeckShield speculates this might be a security flaw. The outflow of tokens included 58 million USDC, 1020 WBTC ($30.9 million), 7,200 WETH ($13.7 million), and 4 million DAI, as well as more tokens such as Chainlink and UniDex. PeckShield questioned whether this was related to cross-chain platform LayerZero adding support for four types of tokens to match those that have been moved, but this doesn't match the full list of tokens that have been moved. LayerZero CEO Bryan Pellegrino said he wasn't aware of the current issue and was investigating. Fantom Foundation CEO Michael Kong told CoinDesk he is “investigating the matter.” Multichain is supported by multi-party computing involving 21 nodes, and the combination of these nodes requires signing transactions to authorize the flow of funds. Multichain was hacked in 2021. [The New York Times: Taylor Swift has agreed with FTX...

1140d agokatielin#Weekly review of the comparison

[Comparative Weekly Review] Poly Network is suspected to have been attacked. Hackers added nearly 100 million BNB and nearly 10 billion BUSD on Metis Network; the Hong Kong government set up a task force for Web 3.0 development, with Financial Secretary Chen Maobo as the chairman; the UK Cryptocurrency Regulation-related Financial Services Act was approved as law by the King; the Korea Legislative Affairs and Justice Commission passed the “Virtual Asset User Protection Law”; virtual insurance company OneDegree completed a new round of financing of 27 million US dollars, and Gobi Venture Capital participated again; MicroStrategy participated again 12,333 bitcoins were purchased, with an average price of $28,136; Mythical Games completed the $37 million C1 round of financing, led by Scytale Digital, and ARK Invest and a16z participated

The following is a review of the week's key news: “Poly Network is suspected to have been attacked; hackers have added nearly 100 million BNB and nearly 10 billion BUSD on the Metis network”. Comparative news, according to PaiShield monitoring, the cross-chain interoperability protocol Poly Network is suspected to have been attacked. The hacker distributed assets on several chains through Poly, including nearly 100 million BNB and nearly 10 billion BUSD on the Metis network. Furthermore, hackers added various assets to chains such as Ethereum, HECO, Polygon, Avalanche, and BSC. [The Hong Kong Government has set up a task force for Web 3.0 development, with Financial Secretary Chan Mao-po as the chairman] In comparison, the Hong Kong Government announced the establishment of the Third Generation Internet (Web 3.0) Development Task Force. The task force is chaired by Financial Secretary Chan Mao-po. The members include 15 unofficial members from relevant industries, as well as representatives of key relevant government officials and financial regulators. The term of office for non-official members will take effect on July 1, 2023 and will last for two years. Financial Secretary Chen Maobo said, “The blockchain technology behind Web 3.0 has the characteristics of disintermediation, security, transparency, and low cost, and can solve many difficulties and pain points in finance, transactions, business operations, and even life. As an international financial center and a metropolis that values innovation and technology, Hong Kong embraces the major trend of Web 3.0 development. Under the premise of balancing 'proper regulation' and 'promotion of development', Hong Kong actively leads and drives related innovation exploration and development, creates more new application models, and strives to gather top enterprises and talents in this field to build a vibrant ecosystem. The task force brings together relevant industry leaders and professionals. I believe their valuable opinions will help Hong Kong develop into a Web 3.0 hub.” [The Financial Services Act relating to the regulation of cryptocurrencies in the UK has been approved by the King as law] Comparatively, King Charles of England approved a bill giving regulators the power to monitor cryptocurrencies and stablecoins on Thursday, marking the final stage of the bill becoming law. Royal approval is a procedural step after lawmakers' approval to make the Financial Services and Markets Act (FSMB) law and includes measures to bring cryptocurrencies within the scope of regulation. The bill was approved by the upper house of parliament last week. UK Financial Services Secretary Andrew Griffith said in a statement that after the UK left the European Union, the bill “gave us control over our financial services rulebook,” enabling the regulation of cryptocurrency assets to support their safe adoption in the UK. [Korea Legislation and Justice Commission passes the Virtual Asset User Protection Act] Comparatively, the Korea Legislative Affairs and Justice Commission passed the “Virtual Asset User Protection Act” to protect investors in virtual assets. Since there are no objections from the ruling party or opposition party, if a final vote is completed at the plenary session of the National Assembly, the bill will become the first crypto-related legislation in South Korea since the Specific Financial Transactions Information Act (Special Act). In May of this year, the Political Affairs Committee of the National Assembly of the Republic of Korea passed the “Virtual Asset User Protection Law” at a plenary session. According to reports, the bill focuses on protecting virtual asset users and restricting unfair transactions. It is the country's first legislation on virtual assets. [Virtual insurance company OneDegree completes a new round of financing of 27 million US dollars, Gobi Venture Capital participated] In comparison, virtual insurance company OneDegree announced the completion of a new round of financing of 27 million US dollars. Gobi Venture Capital, Sun Hung Kai and Bitrock and new investors participated. This round of funding was used to expand its digital asset insurance portfolio. This is the company's fifth round of financing since its inception in 2016. Following the completion of $28 million in financing in 2021, the total amount raised was over $97 million. According to reports, OneDegree first launched cryptocurrency insurance in November 2021, providing HK$100 million in insurance for the cryptocurrency exchange Hong Kong Digital Asset Exchange. [MicroStrategy buys 12,333 bitcoins again, average price $28,136] In comparison, MicroStrategy founder Michael Saylor tweeted that MicroStrategy bought another 12,333 bitcoins at an average price of $28,136, at an average price of about US$347 million. As of June 27, 2023, MicroStrategy bought a total of 152,333 bitcoins for $4.52 billion, with an average price of $29,668. [Mythical...

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