Must pay attention next week | SEC will make a decision on multiple BTC ETF applications; HashKey will release a trading platform for retail investors on August 28 (8.28-9.3)
Highlights for next week
HashKey to Launch Trading Platform for Retail Investors on August 28th；
Farcaster plans to launch the V3 version on August 29th；
OpenSea Pro will charge a platform fee of 0.5% on all listings and offers from August 31；
HashKey Capital to Launch Secondary Crypto Asset Fund on Sept. 1；
The SEC is expected to make a decision on the Bitwise Bitcoin ETP Trust application on September 1;
SEC Expects Decision on iShares Bitcoin Trust Application on Sept. 2；
The opBNB mainnet is expected to be open to the public at the end of August or early September。
From August 28th to September 3rd, all noteworthy events in the industry will be announced as follows:
August 28
Odaily News HashKey announced that it will release a trading platform for retail investors on the 28th (next Monday). Livio Weng, chief operating officer of HashKey Group, said in an exclusive interview that initially retail investors can purchase BTC and ETH, and investment in virtual assets will be limited to no more than 30% of total assets.
Weng Xiaoqi said that a grading system will be established for retail investors. The KYC procedure will be used to assess investors’ investment experience and risk-taking capabilities, and a questionnaire will be set up to determine whether they have a correct understanding of virtual assets. The investments that novices can participate in are relatively limited, and the first batch of retail investors will only Available for purchase in BTC and ETH. At present, the China Securities Regulatory Commission has not approved the provision of margins and derivatives. When regulatory approval is given in the future, related products will be classified and various products will be launched to different types of users.
HashKey will cooperate with a number of commercial banks to provide users with legal currency deposit and withdrawal services. It will first support US dollar transactions and will not support Hong Kong dollars for the time being. Currently, only bank cards are accepted for transactions, and credit cards are not supported. If retail investors invest more than 30% of total assets in virtual assets on the platform, a risk warning will appear and investment will be restricted. However, the platform cannot truly verify the users total assets and can only rely on the users own provision.
Weng Xiaoqi said that he will actively communicate with regulators to promote the supervision of stablecoins, and explore whether a certain degree of contract transactions and pledge products can be approved. It is expected that the launch of derivatives will be more tortuous. (Economic Journal)
At the first hearing at the Seoul Southern District Court, lawyers representing Terra co-founder and former Chai Corp CEO Daniel Shin asked Judge Jang Seong-hoon to give him more time to prepare his criminal defense. Daniel Shin did not attend the hearing in person, Chosun Ilbo reported.
The court has granted the request and set a date for a second hearing on Aug. 28. Prosecutors have been disappointed by the ongoing delays. The judge said, We will review the lawyers opinion and reopen the trial preparation date to determine the opportunity for defense and the order of questioning. (CoinGape)
Digital asset manager 3 iQ will add Ethereum staking to two of its funds around August 28
Odaily News Digital asset management company 3 iQ has announced that its The Ether Fund and 3 iQ Ether ETF will begin offering staking services to customers on or about August 28, 2023, making these products the first in the world to offer such services ETFs. 3 iQ partners with its custodian, Coinbase Custody, to provide secure staking activities for funds.
3 iQ says its staking service will provide yield-enhancing opportunities for the fund and its unitholders. Through staking, the fund will be rewarded in the form of ETH, which will be reflected in the funds net asset value (NAV) through value-added income, while increasing the funds exposure to ETH.
Odaily News The decentralized index protocol The Graph community put forward a proposal GIP-0052, suggesting that the 5% index reward on L2 be gradually increased to 100%, and proposed a timetable and implementation process: from 5% to 25% ( expected to be achieved the week of May 8, 2023), then to 50% (expected to be achieved in the week of May 22), 95% (expected to be achieved in the week of July 24), and finally increased to 100% (expected to be achieved in the week of August 28 day and week).
The Graph says it is expanding to L 2 to enable faster transactions, significantly lower gas costs, and more open participation in the network. Moving indexing rewards from Ethereum to Arbitrum will enable more indexers to run on L2 while also providing more rewards for curators and delegators.
Odaily news Farcaster ecological social application Jam is about to launch the first personal influence Token application based on Farcaster and Lens Protocol, and will open whitelist applications for product testing on August 28. According to the team, Jam will provide airdrop incentives to creators in Lens, Farcaster, Mirror and other communities, and also plans to airdrop to friend.tech users.
Jam is a community-driven Web3 social DApp. The team aims to build a creator economy, motivate content creators on the Web3 social network, and promote the development and innovation of decentralized social networks. (Cointelegraph)
August 29
Bitstamp: AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL will be delisted in the US on August 29
Odaily News According to the official announcement, Bitstamp announced that due to regulatory and other factors, it will suspend the following cryptocurrency transactions in the United States from August 29, 2023: AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL.
This means that from August 29, 2023, new orders involving these assets will be disabled and all existing orders for these trading pairs will be cancelled. Users can still hold these assets in their Bitstamp accounts and withdraw them at any time.
To ensure a smooth transition during the trading suspension, users are asked to immediately execute buy or sell orders involving affected assets before August 29, 2023. After this deadline, trading activity related to AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL will be permanently disabled on the Bitstamp platform.
Gitcoin: Grants 18 will end on August 29th, please pay attention to the deadline
Odaily News Gitcoin posted on Twitter that Gitcoin Grants 18 will end on August 29 (UTC), please pay attention to the deadline. Especially for users in the North American time zone, it is recommended to complete on Monday, August 28th.
Odaily News Optimism officially announced that OP Mainnet will upgrade the sequencer deployment configuration at 17:00 UTC on August 28 (01:00 on August 29, Beijing time). At that time, the network will be suspended for about 5 minutes.
It is worth mentioning that the purpose of this upgrade is to achieve zero downtime in future deployment upgrades.
Farcaster plans to launch the V3 version on August 29th
Odaily News Dan Romero, co-founder of the decentralized social protocol Farcaster, announced on X (formerly Twitter) that Farcaster plans to launch the V3 version next Wednesday (August 29).
Doodles x Crocs Limited Edition Crocs Launch August 29th for $120
According to official news from Odaily, the limited edition Crocs jointly launched by Doodles and the casual shoe brand Crocs will be launched on August 29, priced at US$120. Purchasers are entitled to a unique Crocs Box digital collectible, which can be destroyed to unlock two Crocs wearables and a Stoodio Beta Pass for use in Doodles 2.
The pre-sale of this series will be open to OG holders at 00:00 Beijing time on August 29, lasting 24 hours, and the pre-sale price is US$99. The public sale phase will open at 00:00 Beijing time on August 30 and last for 48 hours.
August 30
Odaily News Thailand SEC issued an announcement today that the requirements for cryptocurrency transaction risk disclosure will take effect from July 31, and digital asset business operators will be prohibited from providing or supporting deposits, collections and loan services from August 30. The notice stipulates that Exceptions apply.
BNB Chain is expected to undergo a Hertz hard fork on August 30
Odaily News BNB Chain released the v1.2.9 version of the main network. This release introduces the Plato and Hertz (Berlin, London) hard forks, both of which have been fully tested on testnet and are ready for deployment on mainnet.
The Plato hard fork is expected to be deployed on August 10 (block height 30, 720, 096) and the Hertz hard fork is expected to be deployed on August 30 (block height 31, 302, 048). BNB Chain stated that all validators and full node operators on the mainnet must switch their software version to v1.2.9 before August 10.
August 31
Binance will stop spot grid trading services for some spot trading pairs on August 31
According to Odaily’s official announcement, Binance will stop spot grid trading services for some spot trading pairs at 18:00 on August 31, 2023 (Eastern Eighth District time), including API 3/BTC, AXS/ETH, and BAT/ETH. , CHESS/BTC, etc.
Coinbase to Suspend USDT, DAI, and RAI Stablecoin Trading for Canadian Users
Odaily News Coinbase will suspend Tether (USDT), DAI and RAI stablecoin transactions for Canadian users on August 31. Users can still deposit and withdraw after the deadline, but transactions will be suspended.
In an email notification sent to users on August 17, Coinbase said that “we regularly monitor assets on our trading platform to ensure they comply with our listing standards” and that, based on its review, Canadian users will not be able to access it starting in September. No longer able to trade the above stablecoins.
Coinbase issued a statement saying that Coinbase Canada, Inc. has submitted an application for registration in certain jurisdictions in Canada, but has not yet obtained registration. Before Coinbase Canada, Inc. is registered, agree to be bound by the terms of the undertaking. (Cointelegraph)
StarkWare to Open Source Stone Prover on August 31st
Odaily News StarkWare announced that it will open source Stone Prover (formerly STARK Prover) under the Apache 2.0 license on August 31. Developers will be able to independently review, optimize and use and build upon Stone Prover code. StarkWare stated that open source Prover is an important step in the decentralization of Starknet.
Currently StarkWare has open sourced Cairo, Papyrus Full Node and all Starknet versions, and the Starknet Sequencer under construction will also be open sourced.
According to official news from Odaily, BNB Chain announced that BNB Greenfield will perform regular maintenance on the testnet version and upgrade it to v 0.2.4 from 14:00 to 18:00 on August 31. All buckets previously stored on the Greenfield testnet/ Objects will be purged, no longer queryable, and all account balances will be reset.
This will be the last reset before the mainnet, and the main goals include addressing bugs from previous versions and introducing new features. After the reset, all tBNB on Greenfield will be emptied and the team is preparing for an airdrop to reward and incentivize premium users. According to the airdrop rules, users holding less than 10 tBNB will receive the same amount of airdrops, meaning users will not have to go through the faucet and bridging process again.
In addition, BNB Chain launched a request for proposals for BNB Greenfield storage provider to develop a self-hosted solution. The submission deadline is August 31, and the results will be announced on September 4.
OpenSea Pro will charge a platform fee of 0.5% on all listings and offers from August 31
Odaily News OpenSea Pro posted on Twitter that as OpenSea adjusts the way it charges creator fees, starting from August 31, OpenSea Pro will charge a 0.5% platform fee for all listings and offers. OpenSea Pro said that this move is to avoid fraud and keep the platform data accurate.
OpenSea will implement an optional mechanism for royalties on new series from August 31
Odaily News OpenSea announced that it will implement an optional mechanism for the royalties of new series of works from August 31, canceling OpenSeas mandatory creator royalty mechanism (Operator Filter). For existing series with Operator Filter implemented before August 31, OpenSea will enforce creator royalties specified on OpenSea until February 29, 2024, after which time creator royalties will be optional.
September 1
SEC Expects Decision on Bitwise Bitcoin ETP Trust Application on Sept. 1
Odaily News Bloomberg ETF analyst James Seyffart shared a picture on Twitter, listing the key time points for the review process of the Bitcoin spot ETF that has currently submitted 19 b-4 applications, among which:
The next deadline for the SEC to issue a decision on the ARK 21 Shares Bitcoin ETF application is August 13, 2023, with a final deadline of December 27, 2024;
The next deadline for the SEC to issue a decision on the iShares Bitcoin Trust application is September 2, 2023, with a final deadline of March 15, 2024;
The next deadline for the SEC to issue a decision on the Bitwise Bitcoin ETP Trust application is September 1, 2023, with a final deadline of March 14, 2024;
The next deadline for the SEC to make a decision on VanEck Bitcoin Trust, Wisdomtree Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and Fidelity’s Wise Origin Bitcoin Trust filings are all September 3, 2023, with a final deadline of March 16, 2024;
The next deadline for the SEC to issue a decision on the Valkyrie Bitcoin Fund application is September 6, 2023, with a final deadline of March 19, 2024.
Odaily News The UK Financial Conduct Authority (FCA) announced that from September 1, encrypted asset businesses in the UK will be required to collect, verify and share information about encrypted asset transfers, which is known as the travel rule.
Certificate of Reserves Bill Passes Texas House of Representatives, Sept. 1 Scheduled
Odaily News The Texas House of Representatives has passed a bill requiring cryptocurrency exchanges to maintain reserves an amount sufficient to meet all obligations to customers. If the bill passes the Senate and is signed by the governor, it will go into effect on September 1. (Cointelegraph)
Central Bank of Georgia Plans Anti-Money Laundering Investigation of Crypto Firms from Sept. 1
Odaily News The National Bank of Georgia (NBG) plans to implement mandatory regulation of virtual asset service providers (VASPs) from September 1, 2023. In addition to VASP regulation, NBG is also preparing to impose a series of major restrictions on foreign bank account holders. From September 1, Russian citizens will not be able to withdraw more than 20% of their savings accounts immediately. (Cointelegraph)
HashKey Capital to Launch Secondary Crypto Asset Fund on Sept. 1
Odaily News HashKey Capital officially announced that it will launch a liquid (secondary) encrypted asset fund product regulated by the Hong Kong Securities Regulatory Commission on September 1. The fund will be managed by HashKey Capital Limited and plans to invest in a variety of mainstream virtual assets in the future.
HashKey Capital is a global asset management organization focusing on investing in the blockchain and encryption industry. HashKey Capital is committed to providing institutions and high-net-worth individuals with safe and reliable investment opportunities in the encryption field. Since its founding in 2015, HashKey Capital has weathered multiple crypto cycles. As the earliest institutional investor investing in Ethereum (in 2015), HashKey Capital has invested in more than 500 projects, with total assets under management exceeding US$1 billion.
CoinList to Launch Chainflip Token Sale on September 1st
Odaily News CoinList announced that it will launch the Chainflip (FLIP) token sale at 1:00 on September 1, Beijing time, and registration is now open. Total supply is 4.5 million FLIP (ERC 20) at $1.83 per token, 100% unlocked on TGE at mainnet launch, currently expected around October 24, 2023 (date may be up to 120 after sale ends change within days). Initial purchase limit: minimum US$100, maximum US$4,000, registration deadline is 20:00 Beijing time on August 28, 2023.
It is reported that Chainflip is a decentralized, trustless protocol that allows seamless value transfer between any blockchain (including BTC, EVM, and the underlying network).
The Odaily news dYdx governance page shows that dYdX is voting on the proposal to extend the dYdX funding program v1.5, which proposes to extend the remaining budget of the dYdX funding program for another six months. The extension begins on September 1, 2023, and ends on March 1, 2024.
The proposal creates two new roles: Grantor and Operator. Among others, funders will be responsible for RFPs, finding and recommending grants, and managing approved grants, and operators will be responsible for disbursement and financial reporting.
Voting on the proposal, which ends on August 27, currently stands at 100% support.
According to official news from Odaily, contributors to the on-chain derivatives protocol Gains Network and community representatives have worked together to develop a plan for GNS token economics. The main points include:
- 100% of Dev Fund income redirected to GNS staking (Dev Fund currently charges ~16% platform fees);
- Replace the current governance fund with the new 6/11 multisig;
- Deprecation of GNS NFT;
- NFT bot revenue will be redirected to GNS staking and oracles in a ratio of 80%/20%;
- Supply increased by 4.36 million GNS tokens, or 14% (dev: 1 million GNS, NFT: 3.36 million GNS);
- GNS revenue capture share increased from 33% to over 60%;
- The average existing GNS staker earns 60% more for the same income;
In order to compensate for the cost adjustment of the Dev Fund, Gains Network will mint 1 million GNS tokens for compensation. According to the current GNS price, this is equivalent to 1 to 1.5 years of Dev Fund income. Minted GNS tokens cannot be sold for at least one year and are eligible to be staked for protocol benefits. It is reported that the plan is expected to go live on September 1 or later.
September 2
SEC Expects Decision on iShares Bitcoin Trust Application on Sept. 2
Odaily News Bloomberg ETF analyst James Seyffart shared a picture on Twitter, listing the key time points for the review process of the Bitcoin spot ETF that has currently submitted 19 b-4 applications, among which:
The next deadline for the SEC to issue a decision on the ARK 21 Shares Bitcoin ETF application is August 13, 2023, with a final deadline of December 27, 2024;
The next deadline for the SEC to issue a decision on the iShares Bitcoin Trust application is September 2, 2023, with a final deadline of March 15, 2024;
The next deadline for the SEC to issue a decision on the Bitwise Bitcoin ETP Trust application is September 1, 2023, with a final deadline of March 14, 2024;
The next deadline for the SEC to make a decision on VanEck Bitcoin Trust, Wisdomtree Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and Fidelity’s Wise Origin Bitcoin Trust filings are all September 3, 2023, with a final deadline of March 16, 2024;
The next deadline for the SEC to issue a decision on the Valkyrie Bitcoin Fund application is September 6, 2023, with a final deadline of March 19, 2024.
Revolut will suspend cryptocurrency services in the U.S. starting September 2
Odaily News Revolut, a UK-based financial technology company, announced that it will suspend its cryptocurrency services in the United States starting September 2, 2023, due to the changing regulatory environment and uncertainties in the US cryptocurrency market. After this, US customers will not be able to purchase cryptocurrencies on the Revolut platform.
Revolut will implement more sweeping restrictions starting on October 3, when U.S. customers will be completely banned from accessing cryptocurrencies through Revolut. As a result, they will no longer be able to buy, sell or hold any cryptocurrency. (Decrypt)
september 3
Odaily News Bloomberg ETF analyst James Seyffart shared a picture on Twitter, listing the key time points for the review process of the Bitcoin spot ETF that has currently submitted 19 b-4 applications, among which:
The next deadline for the SEC to issue a decision on the ARK 21 Shares Bitcoin ETF application is August 13, 2023, with a final deadline of December 27, 2024;
The next deadline for the SEC to issue a decision on the iShares Bitcoin Trust application is September 2, 2023, with a final deadline of March 15, 2024;
The next deadline for the SEC to issue a decision on the Bitwise Bitcoin ETP Trust application is September 1, 2023, with a final deadline of March 14, 2024;
The next deadline for the SEC to make a decision on VanEck Bitcoin Trust, Wisdomtree Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and Fidelity’s Wise Origin Bitcoin Trust filings are all September 3, 2023, with a final deadline of March 16, 2024;
The next deadline for the SEC to issue a decision on the Valkyrie Bitcoin Fund application is September 6, 2023, with a final deadline of March 19, 2024.
Others (the exact date has not yet been determined)
Odaily News India currently holds the rotating presidency of the G20 and recently announced in a presidential statement that a comprehensive document jointly prepared by the IMF and the Financial Stability Board (FSB) is expected to be released by the end of August. According to a person familiar with the matter, India will promote the development of a global encryption bill framework during a leaders’ summit in early September, which may form a comprehensive document.
Speaking at a G 20 media briefing, Ajay Seth, a senior official in Indias finance ministry, said the G 20s universal provisions do not preclude any member state from banning encryption within its borders. (CoinDesk)
Odaily News: A South Korean cryptocurrency exchange has signed an acquisition contract with Gopax to acquire a majority stake in it, people familiar with the matter said. Therefore, Gopax’s majority shareholder will likely become the new acquirer. Details have not yet been disclosed, and Gopax is expected to formally announce the news next week.
However, a Gopax employee denied this and said he could not confirm the acquisition.
It is reported that Binance’s acquisition of Gopax was blocked under regulatory pressure from South Korea’s Financial Services Commission (FSC) and the U.S. SEC. In fact, Binance has entered the final stages of completing the acquisition transaction, but the SEC lawsuit has made it difficult to advance the acquisition plan. (MTN)
The opBNB mainnet is expected to be open to the public at the end of August or early September
According to official news from Odaily, the opBNB mainnet will be launched in mid-August 2023. It will be opened to infrastructure providers first and will be open to the public at the end of August or early September. Usability, performance, transaction costs, and security will be tested before the mainnet is opened. In addition, opBNB will offer multiple grants, builder programs and funding programs to promote ecological construction.
As of now, the opBNB test network has more than 7 million transactions so far, connected 435,972 wallets, deployed more than 40 dApps, processed more than 86,000 blocks daily, and processed up to 100,000 daily transactions. -150,000 transactions, over 6,000 daily active users.
After the launch of the mainnet, opBNB will ensure network resilience and decentralization through key measures such as fraud proof, account abstraction, and decentralized sequencers.
Odaily News Backed, the NFT lending protocol created by former Coinbase employees, announced that its team Non Fungible Finance (NFF) has decided to cease operations. The Backed protocol, community NFT and paprMEME will continue to exist, and the interfaces operated by NFF (withbacked.xyz, papr.wtf ) will end at the end of August 2023.
The team said that after running the project for 5 months it concluded that there was not enough demand to maintain the interface or continue development work, and that the code is open source and free to use.
Odaily News NFT generated art project GEN.ART announced that it will shut down its business. The server will be shut down before the end of August, and the website will retain only a few functions.
GEN.ART added that as part of the shutdown, remaining funds in the project’s treasury will be distributed to DAO token holders.
