headlines
CME’s current long Bitcoin futures open interest hits an all-time high at $1.98 billion
CME’s open interest in long Bitcoin futures has reached a record high. According to data from The Block, CME’s open interest in long Bitcoin futures has increased from US$1.04 billion at the end of October to the current US$1.98 billion. This number exceeds In November 2021, Bitcoin’s contract record was $1.67 billion at a high of $68,000.
The rise in open interest in futures contracts may suggest that Bitcoin prices will appreciate when the current contract expires on the last Friday in December.
MicroStrategy spent $593.3 million to purchase 16,130 BTC
MicroStrategy spent $593.3 million to purchase 16,130 BTC at an average price of 36,785 USDT. Previously, MicroStrategy’s BTC holdings were 158,400. With the addition of 16,130 BTC this time, MicroStrategy’s total BTC holdings increased to 174,530.
Previously, the MicroStrategy holding cost was 29,586 USDT. With this purchase, MicroStrategys BTC holding cost has appreciated by 30,252 USDT. Compared with BTCs current price of 37,689 USDT, MicroStrategy currently has a floating profit of US$1.29 billion.
Industry News
The U.S. Securities and Exchange Commission (SEC) met with Grayscale on Thursday to discuss a potential ETF conversion of GBTC. Grayscale also recently hired longtime Invesco ETF executive John Hoffman, who will serve as Grayscales head of distribution and strategic partnerships.
The SEC also met with representatives from BlackRock and Nasdaq on Wednesday. BlackRock previously applied for a Bitcoin ETF in June, and several other asset managers followed suit.
Circle: Does not provide banking services to Justin Sun, Tron Foundation or HTX
In a letter to U.S. Senators Sherrod Brown and Elizabeth Warren, Circle refuted what it called false accusations that it facilitated illegal financial activity. It also said it does not provide banking services to Justin Sun, the TRON Foundation or Huobi, now renamed HTX.
Circle does not assist or finance Hamas (or any other illegal actor), directly or indirectly, the company said in the letter. Circle also does not provide banking services to Justin Sun. Mr. Sun or any entity owned or controlled by Mr. Sun , including the TRON Foundation or HTX, currently does not have an account with Circle.”
The letter continued: To date, the U.S. government has not specifically designated Mr. Sun or his entities as Specially Designated Nationals. Nonetheless, in February 2023, Circle terminated all accounts held by Mr. Sun and his affiliates. The Tron Foundation and HTX did not immediately respond to requests for comment.
U.S. SEC confirms receipt of Fidelity Ethereum spot ETF application proposal submitted by CBOE
According to SEC filings, the Chicago Board Options Exchange (CBOE) submitted a proposed rule change to the U.S. Securities and Exchange Commission (SEC) on November 17, proposing to list and trade under BZX Rule 14.11(e)(4) Fidelity Ethereum Fund ("Trust") of spot ETF commodity trust shares. The SEC has acknowledged receipt of the proposal and will seek public comment on the rule change.
Binance announces launch of bank three-party custody pilot project for institutional investors
Binance announced the successful execution of the world’s first custody project arranged by a third-party cryptocurrency bank.
The solution enables institutional investors to place trading collateral, OTC collateral, with third-party banking partners for safekeeping. This is the first in a series of pilot projects launched by Binance. At the same time, Binance is currently the only cryptocurrency exchange that provides such a solution.
This arrangement directly addresses the issue of counterparty risk, which is a top concern for institutional investors today. It replicates a framework commonly seen in traditional financial markets, allowing investors to allocate crypto assets based on their risk tolerance. Collateral held by banking partners can be in the form of fiat equivalents, such as Treasury bills, giving it the added benefit of being a yielding asset.
The current negative premium rate of Grayscale GBTC is 8.09%
Coinglass data shows that the current negative premium rate of Grayscale GBTC is 8.09%.
In addition, the Grayscale LTC trust premium rate is 28.36%, the BCH trust premium rate is 13.99%, the ZEC trust premium rate is 6.05%, the SOL trust premium rate is 308.53%, and the FIL trust premium rate is 713.54%.
More than $1.12 billion in BTC and $469 million in ETH options contracts set to expire on Friday
Deribit data shows that more than $1.12 billion in BTC options and more than $469 million in ETH options contracts with a notional value will expire for delivery on Friday (December 1). Among them, the biggest pain point price of BTC is US$37,000; the biggest pain point price of ETH is US$2,100.
The SlowMist security team discovered that a hacker group took advantage of Calendlys functionality and used Add Custom Link to insert malicious links on event pages to launch phishing attacks. Calendly is a very popular free calendar app for scheduling meetings and events, often used by organizations to book events or send invitations to upcoming events.
Project News
CoinList officially announced that it will launch the BitsCrunch (BCUT) token sale at 1 a.m. on December 15 (Beijing time), and registration is now open. BitsCrunch is a decentralized, AI-enhanced data network that provides analytical and forensic data for NFTs, wallets, and other public chain digital assets.
The token supply for this sale is 60, 000, 000 BCUT tokens, and the price is 0.055 USDT. An additional 5,000,000 BCUT tokens are set aside for rewards, and 10,000,000 BCUT tokens (1% of the total supply) may be available for purchase during the BitsCrunch Community Sale, at the discretion of BitsCrunch.
Kyber Network Lianchuang: Will issue a relevant statement on the official X number tomorrow
Victor Tran, co-founder and CEO of Kyber Network, posted on the X platform that no one cares about users as much as we do. You deserve the best. A relevant statement will be made on Kyber Network’s official X number tomorrow.
Just today, the KyberSwap attacker released the latest news on the chain, proposing a series of settlement conditions, including full executive control of the Kyber company, temporary full control of KyberDAOs governance mechanism to implement legislative changes, and the requirement to hand over all ties with the company. /Protocol-related documents and information. In addition, the Kyber company is required to hand over all on-chain and off-chain assets.
According to official news, Hooked Protocol announced that it will join forces with multiple educational institutions to launch a US$50 million education ecological fund.
The new education fund will promote the connection between crypto-education and real-life education by strengthening the HOOK 2.0 ecosystem, inspiring new use cases for HOOK tokens, enhancing the application of on-chain interactions in offline courses.
According to the official announcement of ANTPOOL, on November 23, a user submitted 83 BTC as a transaction fee. After ANTPOOL packaged the transaction, the risk control system temporarily froze it. The user is asked to submit the transaction at 0:00 on December 10, 2023 (UTC+8 ) before contacting ANTPOOL and verifying personal identity as follows. After passing the verification, ANTPOOL will refund the fee.
Polkadot 2.0 block space as a service is expected to be launched in Q2 next year
Polkadot 2.0 Blockspace As A Service (BaaS) is expected to be launched in the second quarter of 2024. The main change in 2.0 is the shift from parachain slot auctions to Coretime leasing. Lastic will provide a marketplace for buying and selling block space.
Robinhood plans to start offering cryptocurrency trading in the EU in the coming weeks
Robinhood has begun rolling out commission-free trading in stocks and other securities to UK retail investors. Currently, UK users must join a waitlist to sign up for the service, but Robinhood plans to start offering the service directly in 2024.
Robinhood also plans to start offering cryptocurrency trading in the European Union in the coming weeks.
Investment and Financing
Web3 Foundation to make $1M RWA investment through Centrifuge
Web3 Foundation will make a $1 million pilot investment in the RWA space through Centrifuge, which will be used for Anemoy’s upcoming U.S. Treasury Note launch on Centrifuge.
This initiative is part of the Web3 Foundations strategic mission to advance Web3 projects through funding, advocacy, and collaboration.
ParaX announces rebranding as Parallel Finance and has raised over $30 million so far
According to official news, Web3 super application ParaX has now rebranded as Parallel Finance. During the transition to Parallel Finance, the application and smart contracts will remain unchanged and users will not need to migrate any assets.
In addition, officials stated that it has raised more than $30 million in financing from institutions such as Sequoia Capital, Polychain, Blockchain Capital, Coinbase Ventures, and Founders Fund.
According to previous news on September 30, Web3 super application ParaX announced that it has received strategic financing from Metalpha, a Hong Kong digital asset wealth management company. The specific amount has not yet been disclosed.
Decentralized physical infrastructure (DePIN) provider Grove (formerly Pocket Network) has raised $7.9 million from Fidelity-owned Avon Ventures, Placeholder Capital and Druid Ventures. Grove will use the funding to build new partnerships and drive DePIN towards mainstream adoption.
Character *Voice
Bloomberg Analyst: Spot Bitcoin ETF approval window expected to be between January 5 and 10, 2024
Bloomberg analyst James Seyffart said on the X platform that the approval window for a spot Bitcoin ETF is expected to be between January 5 and 10, 2024.
According to the SEC filing, the comment period ends on January 5 for Franklin/Hashdex and on January 10 for Ark/21.
JPMorgan Chase: DeFi and NFT markets show initial signs of recovery
DeFi NFT activity has revived in recent months as expectations for approval of a U.S.-listed spot Bitcoin (BTC) exchange-traded fund (ETF) have improved sentiment in the cryptocurrency market, J.P. Morgan said in a report. The increase comes after nearly two years of deceleration, the report states, leading to optimism that the worst may be over in terms of the medium-term trajectory of DeFi/NFT activity.
Analyst Nikolaos Panigirtzoglou said that while we have no doubt that the recent resurgence in DeFi/NFT activity is a positive sign, we think it is too early to get excited about it.
Bloomberg Analyst: ARK may sell $130 million in GBTC to inject capital into spot Bitcoin ETF
Bloomberg analyst Eric Balchunas posted on the X platform that ARK/21 Shares may inject capital into its own spot Bitcoin ETF by selling $130 million in GBTC, thereby taking the lead in the initial stage of the spot Bitcoin ETF competition. Analysts say such a move wont guarantee it a lead, but it will help, and they need it to compete with the likes of BlackRock and Fidelity.
