Crypto Guides, Knowledge & Insights

Bloomberg Analyst: Court Can't Compel SEC Approval for GBTC to ETF Conversion, Even if Grayscale Win

On October 19, U.S. SEC Chairman Gary Gensler, in an interview with Bloomberg, stated, “The SEC has received 8-10 filings from ETF issuers; theres a process here, and well look forward to the staffs recommendations.”　　Bloomberg ETF analyst Eric Balchunas noted that courts mostly reiterate what theyve already said, and they wont mandate the SEC to convert GBTC (Grayscale Bitcoin Trust) into a spot ETF, as its not within the courts authority. Therefore, even if Grayscale GBTC were to prevail, the SEC still holds some control over its fate.　　

2023-10-19Deep Dive

Standard Chartered Bank Plans to Launch Cryptocurrency Custody Services in Dubai in Q1 2024

On October 18, as reported by CoinDesk, Standard Chartered Bank is planning to offer custody services for BTC and ETH to institutional clients in Dubai starting in Q1 2024. In the future, Standard Chartered Bank also intends to establish a cryptocurrency settlement network.　　Earlier this year in May, Standard Chartered Bank had plans to launch digital asset custody services within the Dubai International Financial Centre (DIFC) after obtaining regulatory approvals. This service was set to cater to institutional clients worldwide and would be supported by its subsidiary, Zodia Custody.　　

2023-10-19Deep Dive

Tesla Maintains Steady Bitcoin Holdings for the Fifth Consecutive Quarter

According to Teslas latest quarterly financial report, in the third quarter of 2023, Tesla did not buy or sell any Bitcoin. This marks the fifth consecutive quarter in which Tesla has not conducted any Bitcoin trading. As of September 30, Tesla holds approximately 9,720 Bitcoins, with a market value of around $275.6 million.　　In previous reports, as of the end of the second quarter, Tesla did not buy or sell any Bitcoin, and the value of the digital assets Tesla holds was $184 million. This value has remained consistent for four consecutive quarters.　　

2023-10-19Deep Dive

Crypto In Danger? SEC’s 2024 Exam Priorities Signal Tighter Regulation

In a year marked by regulatory scrutiny and enforcement actions against the crypto industry, the US Securities and Exchange Commission (SEC) shows no signs of slowing down.　　The SEC‘s Division of Examinations recently unveiled its 2024 priorities, signaling a potential tightening of regulations for crypto exchanges, firms, and cryptocurrencies falling under the SEC’s definition of “securities” based on the Howey Test." />　　Crypto Faces Increased Regulatory Scrutiny By 2024　　According to the Division‘s announcement on October 16, the proliferation of crypto assets, associated products and services, and emerging financial technology has caught the SEC’s attention.　　The Division will focus on broker-dealers and advisers offering new products and services, particularly those employing technological and online solutions to meet compliance and marketing demands.　　Automated investment tools, artificial intelligence, trading algorithms or platforms, and the risks posed by emerging technologies and alternative data sources will be scrutinized.　　570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!　　Related Reading: Roblox Now Supports XRP As A Payment Method　　Given the ongoing volatility and activity in the crypto market, the Division will continue to closely monitor and conduct examinations of registrants. These examinations will assess the offer, sale, recommendation,

2023-10-18Deep Dive

Vitalik Buterin Sold ETH: No Personal Gain from ETH Sales Since 2018!

Vitalik Buterin sold ETH recently clarified ongoing speculation surrounding his alleged ETH sales, emphasizing that any transfers to exchanges should not be misconstrued as personal divestment.　　In a statement addressing the public, Vitalik Buterin sold ETH emphasized that these transactions were essentially acts of philanthropy or support for various charitable causes or projects, rather than indicative of any personal financial motives.　　Vitalik Buterin sold ETH stated, “If you see an article saying ‘Vitalik sends XXX ETH to exchange,’ it‘s not me selling, it’s almost me donating to some charity or nonprofit or other project, and the recipient selling because they have to cover expenses. I havent sold ETH for personal gain since 2018.”Vitalik Buterin‘s Ongoing Impact　　Vitalik Buterin sold ETH’s declaration comes as a response to growing speculation surrounding the motive behind his recent ETH transfers. He made it clear that the transfers were made to aid various charitable or developmental initiatives, where the recipients were compelled to convert the donated ETH into fiat currency to meet necessary operational costs.　　Buterins commitment to utilizing his cryptocurrency holdings to support philanthropic and developmental projects aligns with his longstanding advocacy for leveraging blockchain technology for social good. His previous contributions and involvement in various charitable initiatives

2023-10-18Deep Dive

Sui Denies SUI Supply Manipulation Amidst 30% Price Drop

Sui Foundation denies SUI supply manipulation; commits to cooperation and transparency. No token sales since CAP distributions. Price decreased by 30% since October 2023, 10% in 24 hours.　　Sui Foundation has denied all accusations of manipulating the supply of SUI tokens from the Korean Financial Authority. They emphasize their commitment to cooperation with DAXA and its member exchanges, following full compliance and transparency.　　The Foundation addresses the inaccuracies and false statements regarding the SUI token supply, stating that there has never been any sale of tokens by the Foundation after the initial Community Access Program distributions. They assert the accuracy of the circulating supply schedule displayed on their public website and available through public API endpoints.Sui Foundation Denies SUI Supply Manipulation Amidst 30% Decrease　　However, CoinMarketCap data indicated that the price of the SUI token has decreased by approximately 30% since early October 2023, with a 10% decrease in the last 24 hours.　　Source: CoinMarketCap　　The Foundation highlights that they have never liquidated any SUI tokens, including staking rewards, apart from the mentioned distributions. They emphasize that every transfer of SUI tokens by the Foundation is publicly visible and verifiable on the blockchain.　　The Foundation has consistently and transparently communicated the schedule for the SUI token

2023-10-18Deep Dive

Fantom Foundation: Approximately $550,000 in Foundation Funds Stolen, Majority of Funds Still Secure

The Fantom Foundation has released a statement on X platform, acknowledging that a small number of Fantom wallets were compromised, including approximately $550,000 of the Fantom Foundations funds. However, the majority of the Fantom Foundations funds (over 99%) remain unaffected and secure. While initial reports suggested that the attack occurred through a zero-day vulnerability in Google Chrome, the exact attack mechanism is still under active investigation.　　Furthermore, a personal wallet of a Fantom employee was also affected. Some of the wallets that were initially labeled as “foundation wallets” were later reallocated to a Fantom employee, indicating that this incident is considered a targeted attack on an individual. The official investigation is ongoing to trace and recover the funds lost by the employee.　　In a previous report monitored by CertiK, it was confirmed that certain wallets on Ethereum and Fantom were compromised, resulting in losses of $657,000. Andre Cronje, a director at the Fantom Foundation, clarified that the funds stolen on Fantom belonged to an employee rather than the foundation.　　

2023-10-18Deep Dive

Scroll Announces zkEVM Mainnet Launch

Ethereums scalability solution, Scroll, has announced the launch of its zkEVM mainnet, with the next milestone being the construction of a decentralized proof network and a decentralized sequencer.　　After over a year of testing, Scroll has unveiled its mainnet, with over 55 million transactions completed on Alpha and Beta testnets, and nearly 1 million batches of transactions confirmed on L1. The latest Sepolia Beta testnet has connected over 900,000 wallet addresses and processed more than 6 million transactions within two months.　　Sandy Peng, co-founder of Scroll, stated, “In the foreseeable future, the majority of value transfers will take place on Ethereums L2. Improved user and developer experiences will drive widespread blockchain adoption and anchor real-world applications in Web3. We are committed to enabling developers to easily build blockchain applications that bridge real-world utility, attract a large influx of new users, and propel the community forward.”　　

2023-10-18Deep Dive

Platypus: 90% of Stolen Funds Returned, Further Withdrawal Details to be Announced

As mentioned earlier, the stablecoin trading project Platypus Finance suffered a hack, resulting in a loss of approximately $2.2 million.　　The Platypus team has left a message on the blockchain, stating that if the hacker returns the stolen funds within the specified time (by 10:45 AM UTC on October 16th), they will offer a 10% bug bounty of the total amount.　　According to PeckShieldAlert, the Platypus attacker has transferred 41,000 sAVAX and 104,700 AVAX (totaling $1.4 million) to Platypus multi-signature address, 0x068e...FdEB.　　Subsequently, Platypus Finance announced that 90% of the stolen funds have been returned, reducing the net loss to approximately 18,000 AVAX. As per their agreement, Platypus will not pursue any legal action.　　Platypus will release further withdrawal arrangement details as the situation develops.　　

2023-10-18Deep Dive

Galxe: Fund Allocation to Commence After Verification of Support Request for Fund Recovery Plan

Galxe has provided an update on its recovery plan regarding the security incident that occurred on October 6th. The team is currently in the process of verifying all support requests related to the fund recovery plan. Once the verification process is completed, they will promptly initiate the fund distribution.　　As mentioned in the previous announcement on October 11th, Galxe had pledged to compensate users for their losses on Polygon with full USDT coverage, along with an additional 10% compensation. Users who believe they were affected but do not find their wallet address on the list or have concerns about the calculated value of their losses can reach out to the official email for assistance.　　

2023-10-17Deep Dive

...

5961

...

736