Planet Daily | The United States requires CZ to hand over all passports to a third party for custody; the Hong Kong Monetary Authority launches a sandbox for stablecoin issuers
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US requires CZ to hand over all passports to third party escrow
According to a newly disclosed legal document, the bail conditions of former Binance CEO CZ have been modified. The United States requires CZ to hand over all passports (whether valid or expired) to a third party for custody, and needs to report all performance status. This means that a third-party custodian must accompany him whenever he travels anywhere that requires identification. Additionally, the document states that CZ “may not apply for or obtain a new passport or travel document from any country without court permission,” and that third parties holding the former Binance executive’s passport can only do so with permission from pretrial services or the court. Return the passport to him.
Hong Kong Monetary Authority launches stablecoin issuer sandbox
The Hong Kong Monetary Authority (HKMA) today (March 12) announced the launch of a stablecoin issuer sandbox to communicate regulatory expectations to institutions interested in issuing fiat-tender stablecoins in Hong Kong and to collect participants’ views on the proposed regulatory requirements.
Applicants must have a genuine intention and reasonable plan to develop stablecoin issuance business in Hong Kong. The proposed operations of participants under the sandbox will be carried out within a limited scope and with controllable risks. The list of participants will be on the HKMA website published and updated in due course.
After the US CPI data was released, the US dollar index DXY rose 20 points in the short term, reaching a maximum of 103.17. Spot gold fell $10 in the short term and is now trading at $2,162.72 per ounce, while SP 500 and Nasdaq 100 futures turned lower.
Goldman Sachs Group, Bank of New York Mellon, Chicago Board Options Exchange and several other companies have completed a series of pilot tests on a blockchain network connecting different banks and financial institutions, which is reported to be the largest inter-chain effort in the capital market. For the experiment, the institutions involved used the Canton Network, launched by startup Digital Asset Holdings last May. Participants executed more than 350 simulated transactions on the blockchain, involving tokenized assets, fund registrations, digital cash, repos, securities lending and margin management.
Industry news
Bloomberg ETF senior analyst Eric Balchunas posted on the X platform that the U.S. SEC ordered First Trust SkyBridge Bitcoin ETF Trust on Tuesday to announce that its application was abandoned. Balchunas said that the specific reason why the company did not re-enter the BTC spot ETF competition is unclear, and that if the ETF were launched, it could increase fund flows by 15%.
According to the filing, First Trust SkyBridge Biteoin ETF Trust had submitted a registration statement to the SEC to register securities under Section 6(a) of the Securities Act of 1933. The registration statement had been on file for more than nine months but had not yet become effective. First Trust SkyBridge Bitcoin ETF Trust failed to respond to a Rule 479 notice that the registration statement would be abandoned unless timely amended or withdrawn: In light of the foregoing, the SEC ordered it to abandon the registration statement on March 12, 2024.
Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission (CFTC), said he plans to launch new regulatory proposals this summer to manage potential risks and conflicts of interest that arise in vertically integrated business models, including electronics and DeFi. In order to solve the problem of cryptocurrency trading platforms playing multiple roles in the market as market makers, clearing houses, lenders and custodians, we can avoid similar incidents like FTX from happening.
Thailand SEC Amends Regulations to Allow Qualified Investors to Invest in U.S. Bitcoin Spot ETFs
Thailand’s Securities and Exchange Commission (SEC) has revised its rules to allow the launch of private equity funds investing in Bitcoin spot ETFs traded on U.S. exchanges. However, only institutional investors and “ultra-high net worth individuals” can invest in these Bitcoin ETF funds.
Previously, regulations governing investments by asset management companies did not cover digital asset ETFs. According to the Thai SEC’s bill, asset management companies were only allowed to provide transactions in assets classified as securities.
According to monitoring by Farside Investors, yesterday Bitwises BITB funds had a net inflow of US$24.6 million, ARK 21 Shares ARKB funds had a net inflow of US$93 million, and WisdomTrees BTCW funds had a net inflow of US$3 million.
According to official news, CoinShares announced the completion of the acquisition of Valkyrie Funds LLC, the investment advisory business of Valkyrie Investments Inc. Additionally, CoinShares has acquired sponsorship rights for its Bitcoin spot ETF Valkyrie Bitcoin Fund (BRRR).
Valkyrie’s regulatory license complements CoinShares’ existing U.S. license and helps lay the foundation for CoinShares to continue executing on its U.S. asset management expansion plans.
CoinShares plans to update the Valkyrie brand as the company’s U.S. asset management platform, which will focus on creating innovative products in the market. Valkyries product line will eventually operate under the CoinShares brand to ensure brand consistency and visibility.
Project News
Coinbase plans to sell $1 billion in convertible senior notes to institutional investors
Coinbase announced plans to sell $1 billion in bonds to institutional investors. The move is aimed at raising funds to repay existing debt and cover the companys operating costs.
Coinbase will issue convertible senior notes due 2030, which upon maturity will be convertible into Coinbase Class A shares, cash, or a combination of these two forms of redemption. The bond issuance could increase the companys total debt to $4 billion.
Wormhole announces airdrop details and witch detection rules
Cross-chain protocol Wormhole posted that its contributors, working with Alliums external experts, have adopted anti-Sibyl technology to ensure that real Wormhole users are appropriately rewarded.
The W airdrop snapshot was taken at 23:59 UTC on February 6, 2024, and the total number of eligible wallets exceeds 400,000. The total supply of W airdrop is 678,823,000 pieces, accounting for 6.78% of the total supply. The specific distribution plan is as follows:
-On-chain users and developers: account for approximately 81% of the airdrop supply (approximately 549 million W).
-Community group: accounts for approximately 19% of the airdrop supply (approximately 129 million W).
These community groups include Wormhole Discord participants (with Spacewalker, Extraterrestrial, Wormhole Fellow status), Zealy users, Pyth stakers, DeGods and y00ts holders, Bad Kids status holders in Discord, Mad Lads holders, Monad Community members.
Wormhole contributors say that qualified users of some protocols may be caught by either filter, especially during the recent period of witch and spam activity. Wormhole contributors will carefully re-evaluate user eligibility in the coming weeks. Today’s update has expanded eligible users to the new wallet. As mentioned in the announcement, rewards for those who may be eligible are subject to change.
Grayscale applies for a Mini Bitcoin Trust from the US SEC Grayscale Bitcoin Mini Trust
Grayscale has filed an S-1 form with the U.S. Securities and Exchange Commission to register its new Grayscale Bitcoin Mini Trust (GBTC), called the Grayscale Bitcoin Mini Trust with the ticker symbol BTC. Designed to be a spin-off of GBTC, the mini-version of GBTC is expected to provide holders with additional Bitcoin exposure without having to pay additional taxes.
According to the official announcement, Binance’s new coin mining has now launched the 49th project: the decentralized, non-custodial entrusted pledge agreement ether.fi (ETHFI). Users can invest BNB and FDUSD into the ETHFI mining pool on the Launchpad website after 08:00 on March 14, 2024 (East Eight District time) to obtain ETHFI rewards. ETHFI can be mined for a total of 4 days. The website is expected to be updated within approximately twenty-four hours of this announcement and before the mining activity opens.
Binance will list ether.fi (ETHFI) at 20:00 on March 18, 2024 (Eastern Eighth District time), and open the ETHFI/BTC, ETHFI/USDT, ETHFI/BNB, ETHFI/FDUSD and ETHFI/TRY trading markets , seed tag trading rules apply.
The floor price of BAYC fell to 12.5 ETH, and the floor price of MAYC fell to 2.15 ETH.
Blur data shows that the floor price of BAYC NFT continues to drop, temporarily reported at 12.5 ETH, with a single-day decline of 18.42% and a seven-day decline of 31.14%. The floor price of MAYC is temporarily reported at 2.15 ETH, with a single-day drop of 11.36% and a seven-day drop of 33.49%.
Solana ecological NFT market Tensor plans to issue governance token TNSR
Solana ecological NFT market Tensor said on Tuesday that it plans to issue a governance token TNSR, and TNSR holders will manage the protocol.
The Tensor Foundation issued a document on the The Tensor protocol will be adopted by the Tensor Foundation and governed by the Tensor community using TNSR.
The Tensor Foundation said more details about the token’s launch will be announced “soon,” but did not specify whether an airdrop would occur.
Investment and Financing
Blockchain video games"MetalCore"Developer Studio 369 announced the completion of a new round of financing of US$5 million, with participation from Delphi Digital, Bitkraft Ventures and Sanctor Capital. The game is expected to be in public beta at the end of 2024 and is currently in a closed beta phase.
DeFi protocol Elixir announced the completion of an $8 million Series B round of financing. Mysten Labs and Maelstrom co-led the investment, with participation from Manifold, Arthur Hayes, Amber Group, GSR, Flowdesk, etc.
It is reported that Elixir allows users to provide liquidity directly to trading pairs on order book exchanges and receive market maker rewards similar to AMM. Its network supports a large amount of liquidity from exchanges such as Vertex, Bluefin, RabbitX, and will cooperate with dYdX and dYdX. Integration with platforms such as ApeX. (Crypto.news)
It was reported in October last year that Elixir completed a US$7.5 million Series A financing at a US$100 million valuation, led by Hack VC, with participation from NGC Ventures, AngelList Ventures, Bloccelerate and angel investors from Ledger Prime, Genesis Trading and Hudson River Trading. .
