Bitcoin

BlackRock Makes Amendments to Spot Bitcoin ETF Proposal in Anticipation of SEC Approval

BlackRock submitted a revised proposal for a bitcoin ETF to align with SEC preferences, incorporating cash creation/redemption mechanisms. The move aims to address SEC concerns about investor safety and market manipulation. This follows speculation that the SEC may approve spot bitcoin ETF applications in January. Other firms, including ARK 21Shares, have made similar changes in their proposals.

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NFT

Mobile network provider in Hong Kong introduces its own NFT marketplace

China Mobile Hong Kong is launching LinkNFT, a groundbreaking NFT marketplace, becoming the first telecom company in Hong Kong to do so. LinkNFT will offer NFT minting services and utilize cross-chain standards for seamless web3 interoperability. The marketplace will feature over 500,000 NFTs and integrate with the digital wallet “LinKey” within MyLink. Additionally, MyLink’s Metaverse digital space has been upgraded to provide users with a comprehensive 3D immersive experience.

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Crypto

Settlement Between Binance and CFTC Approved by US Court

The U.S. District Court for Northern Illinois has approved a settlement in the Binance case, with former CEO Changpeng Zhao fined $150 million and Binance facing a $2.7 billion penalty for violating the Commodity Exchange Act and CFTC regulations. This resolves a legal dispute involving allegations of evading federal law and operating an illegal derivatives exchange.

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News

SEC Delays Decision on Multiple ETH ETFs to May 2024

The SEC has postponed decisions on Ethereum-based ETFs, extending the deliberations to May 2024. The delay affects proposals such as the Hashdex Nasdaq Ethereum ETF, Grayscale Ethereum Futures ETF, VanEck spot Ethereum ETF, and an ARK Invest and 21Shares joint proposal. The SEC aims to gather public input, emphasizing meticulous examination and public engagement before reaching a final decision. Analysts foresee final decisions by late May, while the crypto sector eagerly awaits potential approvals for 13 spot Bitcoin ETFs.

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News

Adoption of ERC-3643 by the Ethereum Community: A Standard for Compliant Asset Tokenization

The Ethereum Improvement Proposal ERC-3643 has been officially endorsed by the Ethereum community, establishing a standard for compliant tokenization of real-world assets. This comprehensive proposal incorporates a self-sovereign identity framework and two permission layers to enhance security and compliance. Asset tokenization offers benefits such as increased liquidity and faster settlements, with a projected market value of $10 trillion by 2030.

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News

The Rise of Web3: Transforming Consumer Loyalty Programs

Consumer retail spending remains strong, with online Black Friday sales hitting $10 billion, amid inflation. The rise of web3 technology is reshaping loyalty programs, with brands utilizing blockchain to offer NFT-based rewards. This enables customers to own, transfer, and even sell their loyalty rewards, fostering deeper engagement and driving brand profitability in 2024.

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Bitcoin

The Evolution of Bitcoin: A Look Beyond Nakamoto’s White Paper

The evolution of Bitcoin has deviated from Satoshi Nakamoto’s original vision, with mining centralization and technological advancements altering its mechanics. Improvement proposals like P2SH, SegWit, and Taproot have enhanced usability and scalability. The trading market has grown complex, with traditional investment instruments and DeFi impacting Bitcoin’s ecosystem, expanding its use beyond Nakamoto’s vision.

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News

The share of decentralized finance (DeFi) in the cryptocurrency market witnessed an 18% increase in November

In November, DeFi’s market share grew by 18%, reaching 4.44%, driven by projects like THORChain and Uniswap. Total value locked in DeFi protocols rose by 14%, expected to surpass $50 billion. Ethereum dominates with over 56% TVL share. Liquid staking hit $27 billion, largely from Lido Finance. The cryptocurrency market cap jumped from $1.28 trillion to over $1.6 trillion in December.

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