SEC delays BlackRock spot ETH ETF decision; Trump holds large amounts of MAGA

Headlines

▌U.S. SEC delays decision on BlackRock’s spot Ethereum ETF

The U.S. SEC postponed its decision on BlackRock’s spot Ethereum ETF (iShares Ethereum Trust). Bloomberg analyst James Seyffart said that spot Ethereum ETF delays will continue to occur sporadically in the coming months, with the next important date to watch being May 23.

▌Trump holds $1.1 million worth of MAGA coins in his Ethereum wallet

According to blockchain According to data from analytics firm Arkham Intelligence, Trump holds more than 579,000 MAGA (TRUMP) tokens in his Ethereum wallet, currently valued at approximately $1.1 million. Market data shows that the TRUMP token is up 222% this week and 689% over the past 14 days.  

As of press time, Trump’s wallet holds nearly $2.6 million worth of cryptocurrencies, including approximately $755,000 worth of ETH and $731,000 of WETH.

Quotes

As of press time, according to coinmarketcap data:

The recent transaction price of BTC was 40,076.8 US dollars, with fluctuations during the day. Frame+0.03%;

ETH Recent The transaction price was US$2233.43, and the intraday increase or decrease-0.06%;< /p>

BNB’s recent transaction price was US$292.9, with an intraday increase or decrease of -0.41% strong>;

The recent transaction price of strong>%;

DOGE’s recent transaction price was US$0.0789, with intraday gains and losses-0.39%;

ADA’s recent transaction price was US$0.4762, with intraday gains and losses+0.72%;

SOL’s recent transaction price was US$88.57, with intraday changes< span style="color: rgb(0, 176, 80);">+1.76%.

Policy

▌Report: The U.S. SEC will implement 46 cryptocurrency-related items in 2023 Enforcement actions

A new report released by Cornerstone Research states that the US SEC has implemented 46 cryptocurrency-related enforcement actions in 2023. Since 2013, the agency has conducted a total of Cryptocurrency entities took 173 enforcement actions, a new high in 2023.  

The report found that the SEC filed only 30 crypto-related lawsuits in 2022, resulting in an increase of more than 50% in 2023, with 61% of the lawsuits alleging violations of securities laws and 57% of the lawsuits alleging violations of securities laws. To commit fraud in violation of the Securities or Exchange Act.

▌UK Treasury: Digital pound consultation will end

Permanent Secretary to the UK Treasury Consultations on a digital pound will end on Thursday, James Bowler said. There are many questions surrounding a digital pound around privacy, financial inclusion, whether there are restrictions, monetary policy and interest rates, and consultations on these issues have concluded.

▌FSB: Bitcoin ETFs and the Crypto Industry’s “Fast "Changes" urgently require stronger regulation

The Financial Stability Board (FSB), which oversees the global financial system, announced its comprehensive work plan for 2024, which calls on countries to speed up the implementation of cryptocurrency regulations because Bitcoin Coin ETFs and “rapid changes” in the crypto industry are driving this demand.  

In addition, the FSB is focusing on ensuring the effective implementation of the global regulatory and supervisory framework for crypto-asset activities and markets and global stablecoin arrangements. In 2024, the FSB will complete its work on the financial stability implications of tokenization, prepare a G20 report on recent developments in artificial intelligence and their potential financial stability implications, and coordinate financial stability efforts through the design of the Incident Reporting Exchange (FIRE) format, thereby enhancing network resiliency.

▌U.S. SEC Chairman: The approval of the spot Bitcoin ETF is limited to this non-security commodity and should not be over-interpreted

U.S. Securities and Exchange Commission Chairman Gary Gensler was asked about his views on the Ethereum ETF in an interview today. Shi responded: “As I said two weeks ago, everything we do with the spot Bitcoin ETF is limited to this non-security commodity and should not be interpreted as anything other than that.”  

Gensler said that now investors can better understand the information of Bitcoin ETFs, he mentioned: "From this perspective, there is also better disclosure, they are now listed on the stock exchange , as opposed to trading in the over-the-counter market. There were 10 or 11 online at the same time, which brought a level of competition. You've seen some competition, and investors benefited from lower fees."  

When asked by reporters for his thoughts on recent court hearings, Gensler said he would let law enforcement officials and the agency's litigators talk about the specifics.

Blockchain Applications

▌Synthetix deploys its perpetual contract protocol V3 on Base

Synthetix, a decentralized crypto derivatives market, announced that it has deployed its perpetual contract protocol V3 (Perps V3) on the Base network. Perps V3 will simplify the process for Base-based developers to launch new derivatives products on Synthetix and trade them on Synthetix-powered exchanges such as Kwenta, Polynomial and dHEDGE. According to Synthetix, more Synthetix V3 products are planned to be deployed on Base in the coming months, including a new perpetual futures exchange called Infinex.

▌Polygon will launch AggLayer, a new aggregation layer focused on blockchain interoperability, in February

Polygon Labs will introduce a new aggregation layer called AggLayer to its network, which will allow developers to connect to L2 blockchains and utilize Ethereum for settlement. It is reported that the first version of AggLayer will be released in February, with the goal of enabling developers to connect blockchains to support unified liquidity.  

According to reports, AggLayer will ensure unified security between connected chains, especially chains within the Polygon ecosystem. In addition, AggLayer will become a key component of Polygon 2.0, interoperability solutions with other The scheme is different, AggLayer will aggregate ZK proofs from all connected chains.

▌Vitalik Buterin: Tends to use EIP to increase calldata costs

Regarding the question of "should the block gas limit of Ethereum be increased?", Vitalik Buterin replied on the 68, and now we have EIP-4844 blobs for data-intensive use cases, which will address worst-case data issues and add more headroom for increased gas limits and blob count targets."

Cryptocurrency

▌Bloomberg Analyst: GBTC trading volume has dropped again, which may be a sign of exhaustion of selling

Data released by Bloomberg analyst Eric Balchunas shows that GBTC today Volume is down again, possibly a sign of exhaustion from the sell-off.  

Bloomberg data shows that GBTC’s trading volume today was US$462 million, compared with US$762 million yesterday.

▌Tesla in Did not sell its Bitcoin in the fourth quarter of 2023

According to the financial report released by Tesla, the company did not sell or buy any Bitcoin in the fourth quarter of 2023, Q4 digital asset net value Same as Q3 at $184 million.  

According to data from bitcointreasury.net, Tesla holds 9,720 Bitcoins, which is approximately US$385 million at current value.

▌Bitwise CIO: Recent The market sell-off was triggered by "ETF expectations"

Matt Hougan, Chief Investment Officer of Bitwise, believes that the recent market sell-off was triggered by "ETF expectations". Hougan said: "Strictly speaking, This is not an ETF-led sell-off, ETFs are net buyers of Bitcoin, this is a sell-off led by ETF expectations. The market is ahead of schedule by buying large amounts of spot Bitcoin and Bitcoin derivatives, and net flows into ETFs are expected to be higher than what we have seen so far. I’ve seen more so far.”

▌Bakkt announces launch of crypto services in international markets in Asia, Europe, North America and South America

Bakkt Holdings announces partnership with existing clients Hapi and SogoTrade to launch crypto services in Asia, Europe, North America and South America Several new international markets have launched crypto services.  

Bakkt and stock trading platform Hapi have expanded their cryptocurrency trading capabilities across Latin America, now operating in Brazil, Guatemala, and Spain. Starting today, Bakkt’s crypto trading is also through digital brokers SogoTrade is live in Hong Kong and Singapore, and the two companies plan to jointly launch these crypto trading features in other international markets in the near future.

Important economic trends

▌CICC-Dianping comments on RRR cuts and structural interest rate cuts: giving profits to entities The space for further expansion

CICC’s research report believes that this loose money combined with the early bank deposit interest rate cuts will pave the way for the downward trend of LPR and expand the space for profit transfer to entities, which will help stabilize growth and Stabilize expectations and the market. During the downturn of the financial cycle, demand is weak, and "tightening credit" requires "loose monetary policy" and "loose fiscal policy" to offset the situation. CICC expects that monetary policy will continue to remain loose. In order to exert policy effects more effectively, it is also necessary for monetary investment to progress from credit to finance, and the intensification of broad-based finance is worth looking forward to. (Jinshi Data APP)

Golden Encyclopedia

▌What are cryptocurrency hedge funds?

Cryptocurrency hedge funds were created in response to the complexities of cryptocurrency investing by pooling funds from different investors to strategically trade digital assets with the aim of generating Positive returns.

Unlike their traditional counterparts, cryptocurrency hedge funds focus on cryptocurrency fund management, investing in cryptocurrencies and employing various strategies to generate good returns for investors. This includes buying and selling cryptocurrencies, as well as engaging in cryptocurrency derivatives and futures trading. In particular, cryptocurrency hedge funds act as intermediaries between contributing investors and originating traders for investors looking to gain exposure to digital assets.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.