headlines
Odaily News MicroStrategy (MSTR.O) stated that as of February 5, 2024, the company held 190,000 Bitcoins, with a total cost of US$5.93 billion, and a cost per Bitcoin of US$31,224.
The company said it added 850 Bitcoins in January at a price of $37.2 million. It bought an additional 31,755 Bitcoins since the end of last year’s third quarter, marking the largest quarterly increase in the past three years and the 13th consecutive quarter of adding Bitcoin to its balance sheet.
Ethereum Cancun upgrade has been launched on the Holesky testnet
Odaily News The Ethereum Cancun (Dencun) upgrade has been launched on the Holesky testnet, which is the last testnet fork before the mainnet. It is reported that the next step is the mainnet Ethereum, and the date may be announced within the next 24 hours.
The SEC voted on Tuesday to adopt a rule requiring market participants with significant liquidity provision roles to comply with federal securities laws and include cryptocurrencies.
The rule will apply to people who trade in cryptoassets that meet the definition of securities or government securities, except those with assets below $50 million.
The rules will also impact DeFi “if a person’s trading activities in crypto-asset securities, including products, structures and activities involved in so-called DeFi markets, meet the definition of ‘as part of the regular business’ set forth in the final rule (i.e. the A person engages in a regular pattern of buying and selling cryptoasset securities that has the effect of providing liquidity to other market participants, as described in the Qualitative Standards) and no exceptions or exclusions apply, the person will be required to register as a dealer or dealer in government securities.”
The final rule will be effective 60 days after publication in the Federal Register. The compliance date is one year after the final rule takes effect.
The DeFi Education Fund said the SEC’s rulemaking passed on Tuesday was “misguided and unworkable.” Miller Whitehouse-Levine, CEO of the fund, said: “While the SEC acknowledged receipt of discussions about DeFi, including our concerns, the SEC not only failed to confront the substantive issues of our concerns, but also completely failed to clearly define the DeFi market. Participants chart any discernible path to compliance. Imposing obligations on entities that cannot comply is wrong, impractical, and hostile to innovation.
Cody Carbone, vice president of policy at the Chamber of Digital Commerce, said Tuesday’s vote was “yet another example of the SEC’s continued hostility toward the digital asset industry.”
Republican Commissioner Hester Peirce, who voted against the rule, took issue with some aspects of the rule at Tuesdays meeting. Peirce said: “The document doesn’t spend a lot of time talking about cryptocurrencies, but it does explain that under the final rules, automated market makers (AMMs) may have to register as traders. As far as I know, AMMs are just a software protocol, so it How to register as a dealer? An SEC official said in response to Peirce that AMM is more than just software.
After some debate, Peirce asked how many people providing liquidity in AMM pools would be included in the regulation. This market is not transparent or compliant, so we unfortunately dont have good data, an SEC official said.
Three Arrows Capital and BlockFi settlement agreement has been approved by a U.S. judge
Odaily News A U.S. judge has approved a settlement agreement resolving claims and disputes between crypto lending platform BlockFi and bankrupt crypto hedge fund Three Arrows Capital, but ordered the details to remain confidential.
During a hearing on February 6, New Jersey Bankruptcy Court Judge Michael Kaplan approved the settlement agreement between the two companies to prevent further legal disputes. BlockFi previously claimed that Three Arrows Capital owed it $129 million, while Three Arrows Capital claimed that BlockFi owed it $280 million.
Judge Kaplan declined to disclose the contents of the settlement, calling it counterintuitive to do so, and rejected an objection to confidentiality raised by the U.S. Trustee, who argued that the terms should be disclosed because the debtors had not demonstrated a need to keep the settlement confidential.
BTC and ETH options with over $1 billion in notional value set to expire this Friday
Odaily News Deribit data shows that BTC options and ETH options contracts with a nominal value of more than $573 million and $468 million will expire and be delivered this Friday (February 9). Among them, the maximum pain point price of BTC is US$42,000; the maximum pain point price of ETH is US$2,350.
Project News
StarkWare releases STRK inflation model proposal, which will affect STRK’s total token limit
Odaily News StarkWare released a STRK inflation model proposal. The inflation formula is M= 0.4 *√ S, where S is the token pledge rate, which means the annual maximum inflation rate is 4%. The inflation model aims to reward stakers for their contributions to the network and manage STRKs inflation expectations by setting an upper limit on the inflation rate to maintain moderate inflation. In addition, there are currently 10 billion STRK on Starknet, and if this proposal takes effect, the cap will be increased.
Odaily News Ethereum’s second-layer network Scroll stated on the The cost of bridging will be reduced by approximately 50%.
Jupiter founder: JUP’s 10 million USDC liquidity will be gradually removed
Odaily News Jupiter founder Meow posted on the X platform that the liquidity of 9.6 million JUP will be removed immediately, and the liquidity of JUP 10 million USDC will be gradually removed in the following months. The current liquidity is 96,164,550 JUP and 69,927,955 USDC.
Pyth Network launches second round of retroactive airdrops, covering more than 160 dApps
Odailys oracle project Pyth Network announced on the For dApps supported by Network, approximately 100 million PYTH governance tokens (worth approximately $47 million) will be allocated to dApps. As part of the second phase of the review airdrop plan, dApps that use Pyth data will receive PYTH tokens, and the relevant teams may announce the token distribution plan this week.
Stablecoin and lending protocol HAI will airdrop governance token KITE on February 12
Odaily News Reflexer Finance’s stablecoin protocol HAI will be airdropped next week before the Optimism mainnet goes online.
HAI will distribute 22.3% of the governance token KITE to 18,034 qualified wallets. The airdrop will take place on February 12th, and HAI will go live on the Optimism mainnet on February 20th. Qualified users include Reflexer Protocol users, individuals using the HAI testnet, and Optimism governance participants who hold more than 50 OP and vote multiple times.
In addition to being a stablecoin protocol, HAI is also a lending platform and DAO. KITE holders can decide which collateral types are included on the platform, change protocol parameters and participate in auctions.
According to Odaily, DOGE developer and Dogecoin Foundation member Timothy Stebbing disclosed on social media that a number of cryptocurrency exchanges have contacted the Dogecoin Foundation, saying that the Dogecoin network has a stuttering/unresponsive problem (but has not yet Disclose the specific exchange name). Timothy Stebbing explained that there is a big problem with Inscription and it has been blocking the Dogecoin network. Now all developers and board members are thinking about how to solve this problem, but he said that Dogecoin is a decentralized project, so it needs Optimizations can only be implemented after community discussion.
Industry news
Odaily News The process of merging and listing BitFuFu, a Bitcoin mining company affiliated with Bitmain, and a special purpose acquisition company (SPAC) has made progress. It is reported that the company reported to the U.S. Securities and Exchange Commission (SEC) on December 31, 2023 ) filed a Form F-4 to register its securities as a SPAC merger transaction of a foreign private entity. On Wednesday, the U.S. Securities and Exchange Commission declared the document valid, stating that BitFufu planned to list on the Nasdaq exchange under the stock code FUFU after completing its business combination with Arisz Acquisition Corp.
Odaily News The Hong Kong Securities and Futures Commission issued a document today to remind the public to beware of suspicious investment products and related projects involving the Hong Kong International Financial Center Token (IFCT).
Although the relevant promotional materials claimed that the product had been officially approved in Hong Kong, the SFC made it clear that the product was not authorized by the SFC for sale to the Hong Kong public.
The China Securities Regulatory Commission has included it on the suspicious investment product warning list and warned the public of the risks that may be faced by investing in any investment products not recognized by the China Securities Regulatory Commission, including the possibility of losing the entire investment. The SFC will take appropriate action in relation to any illegal conduct.
Odaily News South Koreas Financial Commission said today that before the implementation of the Virtual Asset User Protection Act on July 19, it had made a legislative preview of the law and the Virtual Asset Industry Supervision Regulations on the 22nd of last month.
According to executive regulations and regulatory provisions, South Korea prohibits market manipulation, illegal trading, and trading using undisclosed important information of virtual assets. Anyone who violates the regulations may be sentenced to fixed-term imprisonment of not less than one year or a fine of not less than three times but not more than five times the amount of illegal gains; if the amount of unjust gains exceeds 5 billion won, the maximum sentence may be life imprisonment and a fine of not less than two times the amount of unjust gains. times the fine.
Bitcoin miner reserves have dropped by 8,400 coins year-to-date, the lowest since June 2021
Odaily News According to data compiled by CryptoQuant, Bitcoin’s miner reserves (unsold Bitcoins held in digital wallets associated with the company) have decreased by 8,400 since the beginning of 2024 to 1.8 million in 2021 lowest since June this year. Analysts said the drop indicated miners were selling Bitcoin.
Matthew Sigel, head of digital asset research at VanEck, said: “Miners have begun selling more tokens to improve their balance sheets and fund growth capital expenditures in anticipation of the difficult period when profit margins will be halved in April. After the halving, scale will become even more important.”
Additionally, data shows that 3,617 Bitcoins have been transferred from miner wallets to exchanges since the ETF was approved. On February 1, there was a net outflow of 13,542 Bitcoins, which was the largest single-day outflow since December 2020.
Binance issues insider trading policy reminder: employees involved will be permanently blacklisted
Odaily News Binance issued a reminder on insider trading policies, emphasizing the maintenance of security and fairness of the exchange, and stated that it has strict internal trading policies, prohibits insider trading, and takes strict measures against violations, including any abuse of non-public information. Employees found guilty of inappropriate behavior will be permanently blacklisted. For projects that violate confidentiality regulations, Binance will immediately terminate listing services or remove project tokens. At the same time, Binance promises to actively cooperate with law enforcement agencies to safeguard the integrity of the industry. They also encourage people who spot misconduct to report it to them, with generous rewards available for information about insider trading.
ETF Progress
Grayscale transferred approximately 3932 BTC to Coinbase Prime and other addresses
Odaily reported that according to Arkham monitoring, Grayscale transferred 3,932 BTC to the Coinbase Prime deposit address and two new addresses.
Odaily News According to data disclosed on Fidelity’s official website, as of February 7, the net assets of its spot Bitcoin exchange-traded fund Fidelity Wise Origin Bitcoin (FBTC) reached approximately US$2.3 billion, compared with the previous 1.34 billion US dollars as of February 1. Net assets increased by approximately US$960 million, and the current total number of outstanding shares increased to 70,775,000.
Odaily News BlackRock officially updated its spot Bitcoin ETF position data, showing that as of February 6, the number of Bitcoins held by IBIT touched 76,750.739 BTC (an increase of approximately 4,284 BTC from the previous day), with a market value of 3, 310, 719, $877.54. In addition, the number of IBIT shares outstanding rose to 132,880,000 as of February 6.
Spot Bitcoin ETF sees $33 million in inflows on February 6
Odaily News BitMEX Research data shows that on February 6, spot Bitcoin ETF inflows were US$33 million.
BlackRock IBIT becomes fifth-highest ETF by inflows in 2024, Fidelity FBTC ranks eighth
Odaily News Bloomberg Intelligence data shows that the BlackRock iShares Bitcoin Spot ETF (IBIT) has seen capital inflows exceed US$3.2 billion in just 17 days after its launch, making it the fifth-largest ETF in terms of capital inflows in 2024.
The iShares Core SP 500 ETF (IVV) ranks first with $13 billion in inflows so far this year, and its assets under management (AUM) are as high as $428 billion. Ranking second is the Vanguard 500 Index Fund ETF (VOO), with inflows of $11.1 billion this year and assets under management of nearly $398 billion. Also among the top 10 in terms of capital inflows this year is Fidelity Wise Origin Bitcoin Fund (FBTC), which ranks eighth with capital inflows of US$2.7 billion.
Odaily News BitMEX Research data shows that Grayscale GBTC had an outflow of approximately US$73 million on the 18th trading day (February 6), which was lower than the capital outflow of the previous trading day (US$108 million).
Since January 11, the total net outflow of GBTC has been US$6.149 billion, or 147,792 BTC.
Ark 21 Shares Files Ethereum ETF Registration Amendment Form S-1/A
Odaily News According to the disclosure announcement on the official website of the U.S. Securities and Exchange Commission (SEC), Ark 21 Shares has submitted a revised version of the registration statement for its Ethereum ETF, Form S-1/A. This document updates Ark 21 Shares’ plans for its planned The latest submitted information for spot Ethereum ETF, including registration statement and related fee schedule, etc. It is reported that Ark 21 Shares Ethereum ETF aims to provide investors with the opportunity to track the performance of the Ethereum market. Its business address is located at 477 Madison Avenue, New York City.
SEC delays decision on Invesco Galaxy Ethereum ETF
Odaily News Bloomberg analyst James Seyffart said that the SEC today postponed its decision on the Invesco Galaxy Ethereum ETF, which is 100% in line with expectations. More delayed decisions will continue to occur in the next few months. Currently, for the Ethereum spot ETF The only date that matters is May 23rd.
