According to public regulatory filings, the SEC is seeking public feedback on Franklin Templeton and Hashdex’s proposed spot Bitcoin ETF, asking about concerns about manipulation and fraud, as well as the fund’s relationship with Coinbase.
Comments need to be submitted within 21 days, after which the rebuttal period will last two weeks.
Analyst James Seyffart noted that Franklin is the only issuer that has yet to file an updated S-1, possibly in preparation for full approval in early January.
Ravi Menon, the head of the Monetary Authority of Singapore, said that the future monetary system will include central bank digital currencies, tokenized bank liabilities and “well-regulated” stablecoins, while regulators are moving towards establishing a stablecoin that is fully backed by high-quality government securities or cash. currency system.
Regarding assets such as stablecoins and virtual currencies in the current market, Meng Weneng said that stablecoins are issued by non-financial institutions and do not have perfect supervision on capital, liquidity and reserves, and it is difficult to show their “stable” side when market conditions fluctuate.
Therefore, when used for payment purposes, it must be a stable currency that is strictly regulated; and Bitcoin has no underlying assets. “No one uses it for savings, only people want to speculate and make a quick buck.” Therefore, It cannot be used for cross-border payments.
Ravi Menon also mentioned that the Monetary Authority of Singapore and other regions have jointly developed a variety of central bank digital currency cross-border networks (mBridge). If they can cooperate with other regions that research related applications in the future, and cooperate with technologies such as tokenized deposits, they will be able to connect Liquidity from various places solves the problem of long time and high cost of cross-border payments.
Delving into OpenAI’s transformative journey, this piece explores the challenges and milestones from ChatGPT’s growth to the ethical dilemmas surrounding AGI development.
Dogecoin (DOGE) adoption continues to grow, with the number of addresses holding DOGE surpassing 5 million, according to data tracked by on-chain analytics firm IntoTheBlock.
Meanwhile, the number of active addresses on the Dogecoin blockchain reached 168,000, the highest level since March 2022.
Additionally, less than 5,000 addresses control over 80% of DOGE’s supply, according to BitInfoCharts.
Analysts at Bitfinex said in a report that Bitcoin velocity is at historically low levels, indicating a significant change in market sentiment compared to the previous bear market cycle.
Velocity is a measure of how often a digital asset is traded or used for trading, and according to Bitfinex, low velocity indicates that digital asset holders are no longer willing to sell, and buyers are looking for new supply.
“It is therefore not surprising that Bitcoin reached a new year-to-date high of $38,410 on November 24, as holders were reluctant to sell and buyers sought supply,” the analyst added.
In the filing, U.S. prosecutors noted that they may go beyond guidelines and seek a statutory maximum sentence of 10 years in prison for former Binance CEO Changpeng Zhao (CZ).
The documents filed by prosecutors were in response to CZ’s objection to the government’s motion to detain him in the United States. Prosecutors noted: The reality is that the upper end of the guideline range could be as high as 18 months, leaving the United States free to argue for any maximum statutory maximum sentence of 10 years.
John Reed Stark, the former head of the U.S. Securities and Exchange Commission’s (SEC) Enforcement Division, said this is the first time prosecutors have stated in clear and unambiguous terms that they may seek up to 10 years in prison.
In supporting CZ’s detention, Department of Justice (DOJ) lawyers said the penalties he faced at sentencing would undoubtedly be significant to him, which favored reasonable restrictions.
Prisma Finance, the LSD stablecoin protocol, tweeted that the PIP-010 proposal has been officially passed, with all mortgage debt interest rates rising from 2% to 4%, and the redemption rate increasing to 1%.
This proposal aims to solve the problem of price de-anchoring caused by a large number of redemptions caused by low redemption rates. Prisma Finance stated that the passage of the proposal will help maintain the stability of the mkUSD anchor and reduce the number of redemptions by users.
According to Ultrasound data, so far, a total of 3,749,835.43 ETH have been destroyed on the Ethereum network.
Among them, OpenSea destroyed 230,050.72 ETH, ETHtransfers destroyed 311,704.41 ETH, and UniswapV2 destroyed 211,632.44 ETH.
Note: Since the EIP-1559 was introduced in the Ethereum London upgrade, the Ethereum network will dynamically adjust the BaseFee of each transaction based on transaction requirements and block size, and this part of the fee will be burned directly.
According to Santiment, from August 19 to October 16, USDT accounting for 3.54% of the total supply and USDC accounting for 0.72% of the total supply were transferred to the exchange.
These transfers were the precursor to a broad rally in cryptocurrencies from late October to mid-November.
After a period of cooling down, USDT and USDC are back.
According to Spot on Chain data monitoring, the price of BLUR has fallen by about 9% in the past 24 hours.
During this period, 3 whales deposited 7.17 million BLUR ($4.51 million) into the exchange:
The whale (0x13d) deposited 3.75 million BLUR ($2.36 million) into Binance and OKX in the past 4 hours at an average price of $0.629.
The average price of BLUR accumulated by this whale from OKX 2 days ago was $0.535 (a total of $2.01 million), with an estimated profit of $353,000 (+17.6%).
The whale (0x397) deposited 1.67 million BLUR ($1.05 million) to Binance about 6 hours ago at an average price of $0.629, which the whale accumulated from OKX 5 days ago at an average price of $0.375 (a total of $625,000) BLUR.
Profit is expected to be $424,000 (+67.7%). The whale had made a profit of $473,000 from BLUR’s first airdrop.
Wintermute Trading deposited 1.75 million BLUR ($1.1 million) to OKX approximately 12 hours and 9 hours ago, and the market maker has deposited 4.25 million BLUR ($2.7 million) to Binance and OKX in the past 2 days.
The Bitcoin Lightning Network capacity has returned to above $200 million. At the time of writing this article, it has risen to 5371.20 BTC, worth approximately $202,937,997.03, with an increase of 2.37% in the past 30 days.
The current number of Bitcoin Lightning Network nodes has reached 14.625, an increase of 0.15% in the past 30 days.
AzukiDAO announced its name change to Bean and dropped its lawsuit against Azuki founder Zagabond over the $39 million minting incident.
Azuki developers stated that the DAO will be rebranded as the memecoin project and become part of the Ethereum layer 2 Blast ecosystem.
The developers also claim that Bean has also received $10 million in funding from well-known investors for its development and acceleration within the Blast ecosystem.
Bean stated that the proposed total supply of Beanmemecoin is 1 billion. 40% of the tokens are allocated to its vault, 50% to AzukiDAO members, and 10% to AzukiNFT creator Zagabond.
Minting is only available to AzukiNFT holders, who must mint within 24 hours of token issuance or face token destruction.
According to L2beat data, the current total locked-up volume of the Layer 2 network has risen to US$14.72 billion, an increase of 11.21% in the past seven days.
Among them, ArbitrumOne ranks first in lock-up volume, rising 5.95% in the past seven days to US$7.6 billion.
OP Mainnet ranks second, rising 13.14% in the past seven days to $3.88 billion.
Base ranks third, up 5.26% in the past seven days to $594 million.
Adam, a macro researcher at Greeks.live, wrote that after the monthly delivery, the price of Bitcoin rose again, once exceeding US$38,000 and setting a new high for the year.
Dvol, which originally plummeted to 51% after the delivery, has returned to the recent average level of 54%.
The market is currently very optimistic about the passage of (Bitcoin spot) ETFs in Q1 next year. Skew has been significantly positive for more than a month, and market expectations have gradually become consistent.
Before the ETF is officially approved, every decline is a good opportunity to add positions.
PlanB, the creator of the Stock-to-Flow series of BTC price models, says Bitcoin’s current price won’t last long.
Bitcoin is in a pre-bull market phase, and he emphasized that the average BTC price will reach $100,000 from 2024.
Kyber Network posted on social media that the attacker used the KyberSwap Elastic smart contract.
The attack was carried out through a series of complex operations to withdraw user funds to the attacker’s wallet. Approximately $54.7 million in user funds were exploited by the attacker.
In response, we have launched negotiations with the attacker to help users recover their losses as much as possible, including providing a 10% bounty as an incentive to return users’ stolen funds.
ETF analyst Jamse Seyffart posted data on social media showing that the current GBTC trading price is close to the lowest record in recent years, with a discount rate of approximately 8.6%.
The official closing discount rate released on Wednesday was 9.7%, setting the lowest record since July 2021.
According to Coinglass data, GBTC currently holds approximately 620,800 BTC, with a holding value of approximately US$23.235 billion. The price per share in the primary market is approximately US$33.75, and the price per share in the secondary market is approximately US$30.45.
JPMorgan analysts say traders have been buying Grayscale GBTC since the start of the year, with GBTC trading below the underlying value of their Bitcoin holdings, likely in hopes of converting it into a spot Bitcoin ETF. Earn the difference.
This means many GBTC traders will be looking to cash out when their ETF switches.
Analysts at JPMorgan looked at GBTC inflows since 2023 to calculate the value of GBTC that could be sold on conversion. Analysts estimate the figure to be about $2.7 billion.
Adrian Przelozny, CEO of Australian cryptocurrency exchange Independent Reserve, said that the market has entered the first stage of a sharp rise, and the number of people buying cryptocurrencies is gradually increasing, with growth expected to accelerate early next year.
The bull market is expected to arrive early next year, with hiring taking place to build infrastructure before then.
Every effort is being made to prepare for the bull market because we know that when the bull market comes, it happens very quickly and you need to make sure that the processes, people and infrastructure are in place so that when your business triples overnight, you can cope with it easily.
Adrian Przelozny said the next two years will be good, so buckle up.
According to data from OpeanSea, the floor price of MATR1X 2061, the NFT series of Web3 entertainment platform MATR1X, may have been affected by the $10 million A-2 round of financing, which has risen to 2.65 ETH.
So far, 165 coins have been traded in 24 hours, with a 24-hour trading volume of 386 ETH and a total trading volume of 7644 ETH.
El Salvador’s President Nayib Bukele announced a plan in November 2022 in which El Salvador committed to purchasing 1 Bitcoin per day.
The NayibTracker website shows that El Salvador invested a total of 3,124 Bitcoins. The average cost of the Bitcoins purchased by El Salvador was US$40,496.24, with a total cost of nearly US$126.5 million.
These Bitcoins are currently worth approximately US$116.5 million, which means that the current investment loss is nearly US$10 million.
Matrixport posted that despite some initial concerns, Bitcoin still performed well after the release of Binance-related news and is expected to exceed $40,000 in December.
At the same time, Tether’s rising market capitalization suggests that institutional funds may be flowing into stablecoins, impacting Bitcoin and raising fees.
Overall, the overall crypto market is optimistic due to the dynamics of Bitcoin and Ethereum, and may usher in a stock market boom in 2024.
As recovery prospects for FTX creditors continue to improve, larger FTX claims are selling for as much as 60 cents to 65 cents per dollar, a 30% increase compared to about a month ago.
In late October, some over-the-counter (OTC) FTX creditor claims traded at prices above $0.50 per dollar.
Baziel, a partner at 117 Partners, confirmed that some claims are currently being quoted at 0.60 to 0.65 per dollar, but for some, access to this price range will be difficult, and only claims worth millions of dollars are likely to be closer to 0.65 per dollar.
FTX debt claims expert Thomas Braziel believes the outlook is likely to continue to improve and says claim amounts should be close to the expected range for recovery, which is expected to be above 80% to 90%.