Crypto Guides, Knowledge & Insights

Ark Invest Collaborates with 21Shares to Launch a New Series of Digital Asset ETFs

Ark Invest is preparing to launch a series of new ETF products in partnership with 21Shares, aiming to provide investors with a range of robust options for incorporating digital assets into their portfolios.　　“These products are designed to achieve long-term capital appreciation through strategic investments in Bitcoin and Ethereum futures contracts, as well as applications of blockchain technology, leveraging on-chain signals and our crypto-native expertise,” as stated by 21Shares.　　According to the prospectus, these ETF products will be listed on the Chicago Board Options Exchange (Cboe), with five products set to begin trading next week.　　

2023-11-09Deep Dive

BRC-20 Founder: Updating BRC-20 Documentation to Version 0.9, First Update in Seven Months

BRC-20 founder domo announced on X platform that version 0.9 Freeze will be updated to the BRC-20 documentation at block height 816,000. This marks the first update in seven months and emphasizes the importance of simplicity and trust in maintaining consensus.　　According to the official documentation Proposal page, The Freeze takes into account past issues with the old version Ord and anticipated significant updates. It aims to standardize indexers to ensure consistent script validity and state stability within BRC-20.　　

2023-11-09Deep Dive

WSJ: Former NYSE President in Talks to Relaunch FTX

Former New York Stock Exchange President Tom Farleys company is one of three entities bidding for the remaining assets of FTX as the auction process enters its final stages. According to sources, the cryptocurrency exchange Bullish, financial technology startup Figure Technologies, and cryptocurrency venture capital firm Proof Group are competing to acquire FTX. The winning bidder will have the opportunity to relaunch the exchange after it exits bankruptcy proceedings next year. (The Wall Street Journal)　　

2023-11-09Deep Dive

Crypto Bank SEBA Secures Cryptocurrency-Related Services License from SFC

Swiss crypto bank SEBA Bank has been granted a license by the Hong Kong Securities and Futures Commission, allowing its subsidiary to operate crypto-related services locally.　　In a statement today, SEBA announced that the license permits SEBA Hong Kong to trade and distribute all securities, including virtual asset-related products, such as over-the-counter derivatives and structured products based on virtual assets.　　The bank is also authorized to provide advice on securities and virtual assets and manage assets in fully delegated accounts for traditional securities and virtual assets.　　SEBA Bank opened a new office in Hong Kong in November of last year. Currently, the bank conducts global operations in Switzerland, Abu Dhabi, and Hong Kong.　　

2023-11-09Deep Dive

UAE Central Bank Issues Guidelines to Penalize Unlicensed Local Virtual Asset Service Providers

2023-11-09Deep Dive

Robinhood’s Q3 Report: Cryptocurrency Revenue Dips 55% to $23 Million!

Robinhood Markets Inc. faced a late-trading setback as its shares tumbled following the release of financial results that fell short of estimates.　　The online brokerages revenue took a hit due to decreased cryptocurrency trading activity, resulting in a drop in transaction-based revenue.　　The company disclosed a net revenue of $467 million, missing the average analyst prediction of $478.9 million. Nevertheless, this figure marked a 29% increase compared to the same period in the previous year. Transaction-based revenues experienced an 11% decline from the previous year, settling at $185 million. This decrease was primarily attributed to lower cryptocurrency trading volumes, which plummeted by 55% over the year, as reported by Robinhood in a statement on Tuesday.　　The news of the financial results led to a 7% drop in Robinhood‘s share price during late trading in New York. Despite this setback, the company’s shares have seen a significant overall increase of nearly 20% throughout the year.Global Expansion and Regulatory Challenges　　In a bid to continue its global expansion, Robinhood also revealed its plans to introduce European cryptocurrency trading and initiate its brokerage operations in the UK in the coming weeks.　　Robinhood is well-known for offering commission-free trading services, enabling users to trade various cryptocurrencies such as Bitcoin,

2023-11-08Deep Dive

SushiSwap CEO Proposes "Deploying New SUSHI Token Economics"

SushiSwaps newly appointed CEO, Jared Grey, has initiated a community proposal to deploy a new tokenomics for SUSHI. The proposal is currently undergoing a community poll. The new token model is built upon principles of protocol sustainability, enhanced token utility, and fund diversification, and includes:　　Liquidity Subsidies: Improving the efficiency of liquidity subsidies to reduce the annual cost of SUSHI emissions.　　Value Alignment: Aligning SUSHIs revenue with sustainable emissions.　　Financial Stability: Addressing the current emissions-to-revenue ratio affecting economic viability to enhance stability.　　LP Incentives: Realigning incentives for liquidity providers to remain competitive.　　Staking Mechanism: Consideration of modifications to the xSushi staking.　　xSushi Distribution: Providing fairer value distribution among participants for xSushi staking.　　Additionally, the new economic model is designed to strategically expand through DEX innovations and includes:　　Transaction Fees: The primary source of income from trading in liquidity pools.　　Routing Fees: Income from transaction fees acquired through Aggregation Router.　　Staking Fees: Potential revenue from staking rewards.　　Partnerships: Opportunities for income growth through strategic partnerships.　　

2023-11-08Deep Dive

Decentralized GPU Infrastructure Aethir Announces Testnet Launch

Decentralized GPU infrastructure provider Aethir has announced the launch of its testnet. Built on the Arbitrum network, the Aethir testnet allows game developers to create cloud ports instantly, and AI enterprises can utilize localized computing power for human-AI interaction.　　In July of this year, Aethir achieved a pre-A round funding with a valuation of $150 million, with leading investments from Sanctor Capital, Hashkey, Merit Circle, and CitizenX. Other investors include Mirana Ventures, Animoca Brands, Momentum6, Big Brain Holdings, Builder Capital, Tess Ventures, Maelstrom (Arthur Hayes), Lapin Digital, among others. The total funding raised has now exceeded $9 million.　　

2023-11-08Deep Dive

LHV Bank Founder, an Ethereum ICO Participant, Offers to Share $4.5 Billion ETH with White Hat Hacke

On November 7th, it was revealed by Coinbase executive Conor on social media that the owner of a wallet address holding 250,000 ETH and having no transactions in the past 9 years is Rain Lohmus, the founder of LHV Bank.　　Rain Lohmus is known to have purchased these 250,000 ETH in an ICO for $75,000 in 2014. The current value of these ETH is approximately $450 million. Unfortunately, he has lost access to the wallet due to missing keys. Rain Lohmus has expressed his willingness to share these ETH with anyone who can recover the wallet.　　

2023-11-08Deep Dive

Gemini CTO Departure Reflects Crypto Industry Struggles

Gemini CTO departure occurs amidst ongoing staffing challenges. Tiwana, also CEO for Gemini APAC, worked to revamp the companys culture. Gemini faces regulatory scrutiny and a legal battle with Genesis and Digital Currency Group.　　Pravjit Tiwana, the global chief technology officer of Gemini Trust Co., is leaving the firm founded by Tyler and Cameron Winklevoss. Tiwana, who is also the chief executive officer for Gemini APAC, the companys business in Asia, is departing this month.　　This news comes amidst Gemini‘s battle with crypto lender Genesis and its parent company, Digital Currency Group, which has involved public disputes between DCG’s founder Barry Silbert and the Winklevoss twins.　　Gemini CTO Departure Amidst Controversies and Disputes　　Before joining Gemini in January 2022, Tiwana spent over six years as a general manager at Amazon Web Services. During his tenure at Gemini, Tiwana aimed to transform the company‘s culture to resemble Amazon’s, resulting in some employees leaving. His responsibilities included overseeing product, engineering, and design, as well as establishing the companys operations in India.　　Gemini is currently facing regulatory scrutiny, with the US Securities and Exchange Commission alleging that Geminis partnership with Genesis, known as the Earn program, involved an unregistered offer and sale of securities.　　Tyler Winklevoss has dismissed the

2023-11-08Deep Dive

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