headlines
U.S. federal judge approves Binance and CFTC settlement agreement
A U.S. federal judge has approved a settlement agreement between Binance and the U.S. Commodity Futures Trading Commission (CFTC).
Former CEO CZ is required to pay $150 million, a third of which is payable within the next 30 days, according to a Dec. 14 order signed by Judge Manish Shah of the U.S. District Court for the Northern District of Illinois. Binance is required to pay a $1.35 billion fine to the CFTC and waive $1.35 billion in “ill-gotten transaction fees.”
The order also requires Binance and CZ to provide assurances that the platform will implement a corporate governance structure that includes a board of directors with independent members, a compliance committee, and an audit committee.
Industry news
FTX Trading Ltd. unveiled its latest proposal to return billions of dollars to customers and creditors. The restructuring plan leaves some of the most important questions unresolved, including whether FTX will restart the crypto exchange, how the company will estimate the value of some digital tokens, and how much assets creditors can expect to recover.
The plan will be put to creditors for a vote next year, potentially adding some key details, before going to U.S. Bankruptcy Judge John Dorsey for final approval. Major creditor and customer groups involved in Chapter 11 bankruptcy have agreed to the broad outlines of the plan.
The payment plan calls for billions of dollars to be distributed in cash after most of the company’s cryptocurrencies are liquidated. (Bloomberg)
Delin Holdings, a Hong Kong-listed company, will launch AI family office services. Its executive director and chief marketing officer Ai Kuiyu said that the relevant system and APP are expected to be launched in the first quarter of 2024, and the customer asset threshold will be set at US$1 million. Delin Holdings will also launch the investment data system DL-GPT. All asset information will be stored on the immutable blockchain, and the company will not have viewing rights.
Ai Kuiyu also revealed that Delin Digital Family Office is applying for a virtual asset management license from the Hong Kong Securities Regulatory Commission. It is expected that the proportion of virtual assets in its investment allocation will continue to increase in the future. However, due to the uncertainty in the pricing of virtual assets, especially virtual currencies such as Bitcoin, There are clear definitions, so when managing virtual assets for customers, we will be cautious and temporarily control the allocation ratio of such assets below 5%.
CoinShares released its latest weekly report. The weekly report data shows that digital asset investment products have recently experienced small-scale capital outflows, totaling $16 million, ending the 11-week trend of net inflows. Deal activity remains well above this years average, with total trading volume reaching $3.6 billion last week.
ETF event tracking
SEC delays decision on Grayscale Ethereum futures ETF
The U.S. Securities and Exchange Commission (SEC) has postponed a decision on the Grayscale Ethereum Futures ETF.
SEC again talks with BlackRock about Bitcoin spot ETF
The SEC met with BlackRock today to discuss proposed rules that would allow a spot Bitcoin ETF.
Recently, the SEC has frequently met with multiple Bitcoin ETF applicants. Four different issuers have met with the SEC over the past few days regarding Bitcoin ETFs. This meeting is also not the first discussion between BlackRock and the SEC.
Wisdomtree Files Fourth Amendment to SEC on Spot Bitcoin ETF
Bloomberg ETF analyst James Seyffart posted on the X platform that Wisdomtree submitted the fourth revised S-1 filing to the SEC for its spot Bitcoin ETF.
The ARK Invest Spot Bitcoin ETF is listed on the DTCC website under the symbol ARKB
The spot Bitcoin ETF ARK 21 SHARES BITCOIN ETF (code: ARKB) jointly launched by ARK Invest and 21 Shares has been listed on the DTCC website, and the subscription/redemption (Create/Redeem) column shows N.
SEC Delays Resolution on Hashdex Nasdaq Ethereum ETF
The U.S. SEC has postponed a resolution on the Hashdex Nasdaq Ethereum ETF.
SEC Delays Decision on ARK and VanEck Spot Ethereum ETFs
Bloomberg ETF analyst James Seyffart posted on the X platform that the SEC has postponed a resolution on ARK/21 Shares and VanEck’s spot Ethereum ETF application, and the new resolution deadline is late May 2024.
Crypto Asset Management Firm 7 RCC Submits Spot Bitcoin ETF Application to SEC
7 RCC, a small-cap crypto asset manager focused on environmental, social and governance (ESG) investing, recently filed an application with the U.S. SEC for an ETF covering spot Bitcoin and carbon credit futures.
7 RCC’s crypto ETF differs from other applicants in that 80% of its assets will be made up of Bitcoin, with the remainder held in carbon credit futures. Gemini will provide custody services for the fund’s Bitcoin. The application documents did not mention a custodian for the cash and equivalent assets.
7 RCC was founded in 2021 to provide ESG-focused investors with exposure to crypto and blockchain-related assets. The company began preparations for the ETF application 18 months ago but waited to build the appropriate infrastructure before submitting it.
Project News
friend.tech V2 version is planned to be released in spring 2024
According to the official trailer, friend.tech plans to release the V2 version in the spring of 2024.
The number of single-day transactions on the opBNB network exceeded 23 million, a record high, and the number of transactions on BSC (BNB Chain) that day exceeded 14 million. However, there is also some congestion in both networks.
In addition, the real-time TPS on opBNB has also reached 610. It is reported that opBNB can handle up to 4000-5000 transactions per second. BNB Chain pointed out that the above-mentioned data surge was mainly driven by the inscription craze.
Bitget officially issued a statement in response to recent market rumors. The announcement stated: “Since its establishment in 2018, Bitget has always adhered to compliance operations. To this end, we have continued to strengthen the construction of the compliance team and strengthen the KYC and anti-money laundering (AML) measures of the platform. Bitget’s operations and services are all normal, and deposits and withdrawals are The passage is smooth and all employees are on duty. Please do not believe the rumors and do not be deceived. At the same time, we encourage healthy competition in the industry, but we regret the malicious smear behavior of some friends by buying negative manuscripts; We will reserve the right to pursue legal liability against accounts that maliciously spread false information.
In response to the Arweave founders previous remarks that Irys is considering forking Arweave in an unsafe way, Irys officially responded on the and license-free software, while Sam tried to spin Irys out of Arweave. Irys has never and will never take away users choice about where their data is stored. Creating unrestricted access to persistent data for users is at the core of Irys work. Irys remains committed to censorship-resistant, open source, and permissionless technology.
In addition, Irys said new provenance technologies are being developed.
Character*Voice
Zhu Su: Inscription is a very disruptive new primitive in the field of encryption
Zhu Su posted on the X platform that he believes inscriptions are a very disruptive new primitive in the field of encryption. Conceptually, it is somewhere between fungible tokens and NFTs; but in practice, it is much cheaper than existing smart contract logic. Basically put the value in the notes field, just like passing notes in a book.
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