SEC · 9875

Grayscale: New US SEC regulations may benefit ETH, SOL, and BNB; on-chain issuance will drive the return of value

Comparatively, according to Bitcoin.com, Grayscale Research Director Zach Pandl pointed out in the analysis report that if the SEC's proposed new regulation of crypto assets (Crypto Assets) is finally implemented, Ethereum, Solana, and BNB Chain may become the main beneficiaries. The proposal establishes two exemption routes: projects with financing under $5 million can be exempted from registration for 4 years, projects with financing under 75 million US dollars can be exempted from registration for 1 year, and a conditional safe haven. The aim is to provide a clear domestic compliance path for the issuance of crypto assets and reduce issuers' motivation to operate overseas. Pandl pointed out that tokenized financing was previously blocked due to vague regulations. If the new regulations stimulate issuance activities, it will bring more US issuers and investors to go online and drive value back to underlying networks and native tokens such as ETH, SOL, and BNB. The proposal is still in the comment phase, and the final rules may be adjusted due to public comments and SEC review, and larger network activity does not guarantee a rise in the token price. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

2h agoburnking

Wall Street and Washington Jointly Drive BTC Rally: ETF Inflows and Short Liquidations Accelerate the Market

Comparing news, Bitcoin has continued to rise recently. This round of rise was driven by multiple factors such as the return of institutional capital, improvements in the macro environment, warming US regulatory expectations, and large-scale short liquidations. In terms of capital inflows, US spot Bitcoin ETFs have recently re-attracted institutional capital. On August 19 and 20, US spot BTC ETFs recorded net inflows of approximately $517 million and $606 million, respectively, according to the data. The ETF bought around 7,500 BTC in a single day, the highest level since April, according to CoinShares research director Julio Moreno. The market believes that the US Treasury's expansion of the long-term treasury bond repurchase program weakens the performance of the US dollar, pushes currency depreciation transactions to heat up, and further flows of capital to Bitcoin and gold. Meanwhile, the Trump administration's push for legislation on the structure of the crypto market has also lessened investors' concerns about regulatory uncertainty. Furthermore, the US Congress is advancing the construction of crypto regulatory frameworks such as the Clarity Act to clarify the responsibilities of the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in digital asset regulation. Analysts believe that Bitcoin currently has a high level of regulatory certainty, and the relevant legislation's direct impact on BTC is limited, but it can help reduce the regulatory risk premium for the entire crypto market. The rise in the market also triggered large-scale short positions to be closed. The data shows that over the past two to three days, the crypto market has liquidated more than $40 billion, of which around $2.7 billion was liquidated in a single day, then another $1.2 billion was liquidated. Analysts say that this round of shortfall has become one of the biggest shortfall recovery events in the crypto market recently. Market participants believe that if institutional capital continues to flow in and the regulatory environment is further improved, Bitcoin's upward trend in the medium term may continue.

8h ago

Opinion: Changing key provisions of the Clarity Act would cause legislation to fail and should be passed as soon as possible

Comparing news, Summer Mersinger, CEO of the US Blockchain Association (Blockchain Association), wrote that there are less than four weeks left until the US Senate votes to advance the “Clarity Act” debate on September 15. Reopening the provisions that have been under negotiation for several months at this time will not improve the bill; on the contrary, it will restart the unfinished negotiation process, which may eventually lead to the failure of the legislation. Mersinger said that the two proposed revisions proposed by the American Bankers Association (ABA) — replacing the existing standard with substantially similar interest and removing the word “simply” were not simple text adjustments, but major policy changes. She pointed out that similar interest is essentially a flexible legal standard, which may allow regulators to expand the scope of interpretation; and removing Solely will change the scope of application of stablecoin income restrictions in the GENIUS Act and affect the policy boundaries previously set by Congress. Mersinger stated that ABA's concerns that stablecoins may cause bank deposits to be lost have no real basis. The data shows that since the GENIUS Act was passed, bank of America deposits have grown for three consecutive quarters, with a cumulative increase of more than 800 billion US dollars. She stressed that what is really needed to protect consumers is to establish a digital asset regulatory framework. The Clarity Act will clarify the regulatory boundaries between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), require registration of platforms serving US users, and implement customer asset isolation, information disclosure, and conflict of interest management rules. Mersinger finally called on the US Senate not to restart negotiations. The bill has been completed, the relevant work has been completed, and the Senate has an opportunity to push it forward on September 15, and it should be passed directly.

9h ago

Bitcoin mining infrastructure company Bitari submits IPO application to NASDAQ: plans to raise $30 million

According to CryptoBriefing, Bitari Inc., a Texas-based Bitcoin mining infrastructure company, submitted an S-1 registration statement to the US SEC on August 21 to seek to raise $30 million through an initial public offering (IPO) on the NASDAQ global market under the ticker symbol BIAI. The offering will issue 4,285,715 common shares, each priced at $7, and is expected to generate total earnings of approximately $30 million, and net income of approximately $27 million after deducting underwriting and related expenses. Bitari is responsible for building and operating the physical infrastructure required for Bitcoin mining. Its current core facility is a 20 megawatt operating mine in Wheeler, Texas. A second 20 MW mine is under construction in Dumas, Texas, and the company also owns a contracted 20 MW mine in Marion, Indiana.

11h ago

Grayscale submits a fifth amendment to the US SEC, and Zcash ETF accelerates

In comparison, according to The Block, Grayscale submitted a fifth amendment to the US Securities and Exchange Commission (SEC) on August 21 to further advance its Zcash ETF listing plan. According to the latest application, the product will officially be renamed “The Zcash ETF”, with an annual management rate of 2.5%. It is planned to be listed under the code “ZCH” on the Arca section of the New York Stock Exchange. The custodian is Coinbase Custody Trust Company, and the transfer agent is Bank of New York Mellon. The ETF will be converted from Grayscale's existing Zcash Trust, which has been in operation since 2017 and currently has over $260 million in assets under management. Previously, in the fourth amendment application, a subsidiary of Grayscale's parent company Digital Currency Group had discussed injecting approximately 200,000 ZEC into the fund.

12h ago

[Comparative Daily News Picks] Anthropic plans to include anti-AI sentiment as the main risk factor in the prospectus; Strategy's stock price hit a two-month high, and STRC returned above $96; Bernstein: Even if the “Clarity Act” is not passed, the SEC and CFTC will speed up rule-making; Dalio: The US debt crisis may break out within three years, and it is recommended to increase gold holdings

Daily AI · Crypto · Macro · Market Highlights, Bitpush helps you set priorities ↓ AI · News [Anthropic plans to include anti-AI sentiment as the main risk factor in the prospectus]. According to CNBC, Anthropic is expected to list the public's negative sentiment about artificial intelligence and data centers as a risk factor in the IPO prospectus to be released in the next few weeks. According to people familiar with the matter, Anthropic recently held a pre-listing “market trial” meeting with bankers and investors. Investors focused on competitive pressure, the impact of open source models on profit margins, and the risks that may be brought about by a slowdown in data center construction. Anthropic is currently valued at close to $1 trillion in the private equity market and is preparing to hit a major IPO. However, as Americans' concerns about AI replacing employment and data center expansion heat up, the related backlash sentiment is becoming a new challenge facing the company's listing. The company has previously achieved an annualized revenue operating rate of more than 65 billion US dollars. [Apple cuts Siri and Vision Pro team positions, and resources shift to AI and new devices] Compared to news, Apple (AAPL.O) is laying off employees from various teams responsible for Siri's digital assistants and Vision Pro headsets. The total impact of this layoff is more than 200 people. Of these, about 100 jobs in the Vision Pro department have been abolished, and about 100 other positions in the Siri and software teams have been cut. The move is part of the company's efforts to focus resources on new devices and artificial intelligence. People familiar with the matter said that in this adjustment, Apple has basically shut down a team dedicated to the Vision Pro game business, while also reducing the size of the department responsible for producing immersive video content for the device. Apple admitted in a statement that the company is making adjustments to some teams “to drive business development and provide the best experience for users.” [Castle Securities: Over 80% of the overall risk in the Situational Awareness Fund portfolio has been divested] According to the Financial Times, Castle Securities founder Ken Griffin responded to the company's acquisition of Situational Awareness assets under Leopold (Leopold) in a letter to clients on Friday. According to a letter obtained by CNBC, Griffin told clients that Castle Securities had divested more than 80% of the overall risk in the original purchased portfolio by conducting more than 100 major transactions (with a market value of more than $4 billion). In his letter, Griffin wrote, “A transaction of this scale would not have been possible without the full cooperation of the transaction teams and lead brokerage teams of the banks serving the two companies. I am very grateful for their dedicated efforts to complete the portfolio transfer quickly.” Griffin also confirmed that the company's flagship multi-strategy fund, the Wellington Fund, had a return of 5.94% in July, which is the fund's best monthly performance since 2022. [AI cloud company Nscale seeks to raise 3 billion US dollars in US IPOs] In comparison, AI cloud company Nscale is reportedly seeking to raise 3 billion US dollars in a US IPO. In the crypto market [Strategy stock price hit a two-month high, STRC returned above $96], the Bitcoin treasury company Strategy (MSTR) stock price rose to a two-month high today as the Bitcoin price briefly broke through $79,400. It broke through $120 during the intraday period, then partially regained its gains. Meanwhile, the price of STRC, Strategy's preferred stock product, also surpassed $96 for the first time since June. Previously, STRC's price once fell below $70 due to concerns about its ability to pay dividends and the ability of the stock price to maintain the $100 target for a long time. [Bernstein: Even if the Clarity Act is not passed, the SEC and CFTC will speed up rulemaking] Comparing news, the Bernstein analyst team led by Gautam Chhugani released a report stating that regardless of the procedural voting results of the “Clarity Act” on September 15, the certainty of US crypto regulation is expected to increase. They expect the SEC and CFTC to accelerate rulemaking in areas such as native crypto asset issuance, tokenized stocks, perpetual futures, computing power derivatives, and predictive markets. This regulatory clarity of expectations has become one of the broader supporting factors in the crypto market. 【A...

13h agoBitpushNews#Compare Daily Picks

Bernstein: Even if the Clarity Act doesn't pass, the SEC and CFTC will speed up rulemaking

Comparing news, Bernstein's team of analysts led by Gautam Chhugani released a report stating that regardless of the September 15 “Clarity Act” procedural voting results, the certainty of US crypto regulation is expected to increase. They expect the SEC and CFTC to accelerate rulemaking in areas such as native crypto asset issuance, tokenized stocks, perpetual futures, computing power derivatives, and predictive markets. This regulatory clarity of expectations has become one of the broader supporting factors in the crypto market.

19h agoWendy#starters

SEC Proposes Reg Crypto: Establishing a Legal Path for the Public Offering of Some Tokens and the Withdrawal of Investment Contracts

Comparing news, Galaxy's research director posted an article on the X platform stating that the US Securities and Exchange Commission proposed the “Crypto Asset Regulation” to regulate Crypto Assets, referred to as Reg Crypto for short. The proposal aims to establish a legal path for some tokens to be issued to the US public and establish a mechanism to terminate investment contracts. The scope of application is limited to cryptographic assets that are not securities themselves but have been issued or sold as part of an investment contract. Tokenized stocks, bonds, and arrangements for bundling tokens with shares or other securities are not within the framework. The proposal establishes four stages: financing, disclosure, construction, and exit. The one-time startup exemption allows issuers to raise $5 million over a maximum period of 4 years; higher exemptions set by reference to Regulation A allow $20 million or $75 million in 12 months. Relevant financing is subject to SEC qualification review and ongoing disclosure. The maximum investment amount for uncertified investors is 10% of those with high annual income or net assets. Issuers are also required to disclose token supply and release plans, minting and destruction mechanisms, governance and smart contract authority, source code, and project construction commitments and progress. When the issuer completes or permanently suspends the relevant construction obligations, does not make new construction commitments, and submits a transition report, the relevant investment contract will be deemed terminated, and cryptographic assets will no longer be subject to the securities law under the investment contract. Issuers that have not used the above financing exemptions can also use this safe harbor. The US Securities and Exchange Commission estimates that approximately 475 issuers will use the safe haven of investment contracts each year, and about 130 issuers will use the two new exemptions. Eligible issuances may not be restricted securities and may be immediately resold without contractual restrictions. The proposal also excludes covered initial offerings and some secondary transactions from state registration and qualification requirements, but it does not involve exchanges, brokers, dealers, escrow, or independent innovation exemptions for tokenized securities and on-chain transactions. The comment period is 60 days after publication in the Federal Register. SEC Chairman Paul Atkins and members Hester Peirce and Mark Uyeda all issued statements of support.

21h ago

Coinbase CEO: CLARITY Act Expected to Receive 60 Senate Votes on September 15

In comparison, Coinbase CEO Brian Armstrong said that the US “Clarity Act” (CLARITY Act) is expected to receive more than 60 votes in the US Senate on September 15, and is confident that it will pass the first key procedural vote after returning to Congress. Brian Armstrong previously said that the CLARITY Act is in the final stages of progress, and the Senate procedural vote requires 60 votes to push the bill forward. The bill aims to establish a US digital asset regulatory framework and clarify the division of responsibilities between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in crypto asset regulation. Armstrong believes that regulatory clarification of the US crypto industry is approaching. Whether the CLARITY Act is finally passed or regulators advance through administrative rules, the market will usher in a more clear regulatory environment. Earlier, US President Trump also called on Congress to push for the passage of the CLARITY Act, believing that the bill is of great significance in establishing a digital asset regulation system and enhancing the competitiveness of the US crypto industry. reuters.com However, the bill still faces disputes from some lawmakers over issues such as conflicts of interest and stablecoin regulation, and whether it can be successfully implemented in the end still depends on subsequent negotiations in the Senate. (CoinDesk)

21h ago

Bernstein: Bitcoin's shock to $80,000 was driven by liquidity, ETF funding flows have picked up

Comparative news, according to The Block, analysts at Bernstein believe that Bitcoin's rebound over the past two days may mark a shift in market momentum, behind which is an improvement in the liquidity environment, a recovery in ETF demand, and friendly regulation. Bitcoin hit $79,500 on Friday and then fell back to about $78,000. Analysts linked this round of rebound to the US Treasury's announcement to increase repurchases of long-term treasury bonds, believing that liquidity expansion has always been beneficial to Bitcoin. Furthermore, Ethereum outperformed Bitcoin in this round of rebound, which analysts attributed to ETH's higher exposure to stablecoins, tokenization, and real assets. Spot Bitcoin ETF capital flows have changed from net outflows in May and June to net inflows of $1.6 billion this week, and the management scale has risen to over $85 billion; Strategy holdings have changed to surplus of over $2 billion, and cash reserves can cover 2.8-year dividend expenses. Bernstein also mentioned that regardless of whether the much-publicized “CLARITY Act” (which will be subject to a procedural vote on September 15) is passed, the SEC and CFTC are expected to speed up the legislative process in areas such as native token issuance, equity tokenization, perpetual contracts, computing power derivatives, and predictive markets. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

1d agoburnking