1. OKX HK withdraws VASP license application and will stop providing centralized trading services to Hong Kong users at the end of this month
OKX announced that after careful consideration of the business development prospects, it has decided to withdraw the license application for OKX HK. From May 31, 2024, OKX will stop providing centralized virtual asset trading services to Hong Kong users in accordance with regulatory requirements. The relevant arrangement will not affect the withdrawal service, and users do not need to worry about the safety of their funds. After May 31, OKX will only support Hong Kong users to withdraw money. OKX Web3 (self-hosted wallet) product services will not be affected and will continue to provide services to Hong Kong users.
2. Yesterday, the total net inflow of US Bitcoin spot ETFs was about US$250 million
According to SoSoValue data, yesterday (May 24, Eastern Time), the total net inflow of Bitcoin spot ETFs was about 250 million US dollars, which was the 10th consecutive day of net inflow. The Bitcoin spot ETF with the largest single-day net inflow was BlackRock IBIT, with a single-day net inflow of about 182 million US dollars, followed by Fidelity FBTC, with a single-day net inflow of about 43.71 million US dollars, and VanEck HODL had a single-day net inflow of about 15.597 million US dollars. As of press time, the total net asset value of Bitcoin spot ETFs was 59.07 billion US dollars, the ETF net asset ratio (market value to the total market value of Bitcoin) reached 4.36%, and the historical cumulative net inflow reached 13.69 billion US dollars.
3. Coinbase seeks higher court hearing on core issues in its legal dispute with the U.S. SEC
According to CoinDesk, after Coinbase's attempt to dismiss the enforcement lawsuit filed by the U.S. SEC against it was rejected by a federal court, Coinbase's lawyers filed an appeal on Friday, trying to get a higher court to hear the core issue of its legal dispute with the U.S. SEC, namely whether digital asset transactions that do not bear any obligations to the original issuer of the assets are investment contracts regulated by the U.S. SEC.
4. Hedge fund Farallon Capital disclosed holdings of GBTC shares worth more than $85 million
According to CryptoSlate, San Francisco hedge fund manager Farallon Capital disclosed an investment of $85.2 million in Grayscale’s GBTC. According to Fintel data, the company is one of the 10 largest GBTC holdings.
In addition, Cetera Investment Advisers disclosed an investment of $22.6 million in GBTC on May 24, becoming one of the 25 companies with the largest GBTC positions. On May 22, BigSur Wealth Management disclosed an investment of $3.3 million in BlackRock's IBIT.
5. VAEX Hong Kong Virtual Asset Trading Platform License Application Has Been Withdrawn
Updated data on the official website of the Hong Kong Securities and Futures Commission shows that VAEX's application for a virtual asset trading platform license named "Hong Kong VAEXC Limited" submitted to the Hong Kong Securities and Futures Commission was withdrawn on May 24. VAEX first submitted an application for a virtual asset trading platform license to the Hong Kong Securities and Futures Commission on November 25, 2023.
As of now, the Hong Kong Securities and Futures Commission has announced that 10 applicants have had their virtual asset trading platform licenses withdrawn and returned, 1 has been returned, and the number of virtual asset trading platform applications on the waiting list is 18.
