● SEC postpones decision on seven spot Bitcoin ETFs including BlackRock and Fidelity
According to Foresight News, the U.S. Securities and Exchange Commission (SEC) has postponed a decision on seven spot Bitcoin ETFs submitted by BlackRock, Fidelity, Bitwise, VanEck, WisdomTree, Invesco, and Valkyrie.
Among them, the decision deadline for BlackRock’s iShares Bitcoin Trust, Fidelity’s Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, WisdomTree Bitcoin Trust and Invesco Galaxy Bitcoin ETF will be extended to October 17, while the deadline for Valkyrie Bitcoin Fund will be extended to October 17. Postponed to October 19th. The decision deadline for the Bitwise Bitcoin ETP Trust has also been pushed back to October 16.
● Grayscale's victory may help it transform GBTC into the first spot Bitcoin ETF in the United States
According to CoinDesk, Bloomberg Intelligence's litigation analysts said in a report on Wednesday that Grayscale's victory could pave the way for the company to convert its GBTC into the first spot Bitcoin ETF in the United States. This transformation will allow redemption of fund shares, making Alameda's lawsuit unnecessary. It is reported that Alameda filed a lawsuit against Grayscale in March this year, accusing it of preventing holders from redeeming their Bitcoin and Ethereum trust shares at the expense of the interests of holders and charging high management fees.
● The annual rate of the US core PCE price index in July was 4.2%, the expected rate was 4.20%, and the previous rate was 4.10%.
According to Jinshi, the annual rate of the core PCE price index in the United States in July was 4.2%, which was expected to be 4.20% and the previous value was 4.10%. The number of initial jobless claims in the United States in the week ending August 26 was 228,000, the lowest since the week of July 29.
● UK implements cryptocurrency travel rules
According to Cointelegraph, starting September 1, crypto-asset businesses in the UK may begin to withhold some cryptocurrency transfers to comply with the new cryptocurrency travel rules. The Financial Conduct Authority first introduced this regulation for virtual asset service providers on August 17, requiring virtual asset service providers in the UK to collect, verify and share information related to crypto asset transfers. If an inbound payment is received from an individual or entity in an overseas jurisdiction that has not yet implemented the travel rules, the virtual asset service provider must conduct a "risk-based assessment" to determine "whether the crypto asset will be provided to the beneficiary."
The travel rule is designed to bring greater transparency to crypto asset transfers and make it more difficult for criminals to use cryptocurrencies for illegal activities.
● Binance Labs announces the launch of ColLabs, a Web3 investment community
Binance Labs announced the launch of ColLabs, an invitation-only Web3 investment community for investors, founders, and builders, featuring members-only content, real-time deal search, investor insights, access to the Binance Labs network, and more.
● Binance reminds users to convert BUSD to other stablecoins before February 2024
According to Binance’s announcement, since Paxos has stopped issuing new BUSD tokens, Binance will gradually stop supporting BUSD. Binance reminds users that they can convert their BUSD assets into other assets supported by the Binance platform before February 2024. Users can trade their BUSD assets for FDUSD with zero fees on the Binance spot market, or exchange their BUSD assets for FDUSD with no spread, zero fees, and a 1:1 ratio on the flash exchange platform.
● Musk clarifies: X will not launch incentive tokens
According to Foresight News, Elon Musk responded to the news that X News Daily disclosed that X (formerly Twitter) would launch an incentive token "X Coin" for content creators, and clarified "No". Previously, Musk said in response to DogeDesigner, a user in the crypto community, "X will never launch a cryptocurrency."
● Renewable energy and climate conditions make Iceland a haven for Bitcoin miners
As energy costs soar and regulatory pressure on cryptocurrency businesses grows in the U.S. and other countries, Iceland has become a refuge for Bitcoin miners, according to Bloomberg. The volcanic island relies almost entirely on hydroelectric and geothermal power for electricity, and it has historically had a surplus of electricity. Miners have used this energy for their energy-intensive computers. Not only is Iceland rich in renewable energy, but its cool climate is also attractive to overworked data centers. Luxor estimates that Iceland's Bitcoin mining industry consumes about 120 megawatts, "with a population of only 370,000, Iceland has the highest density of Bitcoin mining on the planet."
