● If regulators approve BlackRock’s BTC spot ETF, the world’s largest market maker may participate
According to BlockBeats, CoinDesk cited people familiar with the matter as saying that if regulators approve BlackRock's BTC spot ETF, some of the world's largest market makers may participate in it to provide liquidity for the ETF. Currently, trading giants Jane Street, Virtu Financial, Jump Trading and Hudson River Trading have negotiated with BlackRock on the role of market making.
● Invesco and Galaxy’s Bitcoin spot ETF symbol BTCO appears on the DTCC website
As Cointelegraph reported, Invesco and Galaxy’s spot Bitcoin (BTC) exchange-traded fund (ETF) ticker BTCO appeared on the Depository Trust and Clearing Corporation’s (DTCC) website.
According to data from the web archiver WayBack Machine, there was no listing of BTCO on the DTCC website before October 25. It is worth noting that the appearance of a code in the list of "ETF products" on the DTCC website does not mean that a product will be approved in the future. A DTCC spokesperson said that adding securities to the NSCC securities qualification file is a standard practice in preparation for the listing of new ETFs.
The spokesperson added: “Appearance on the list does not imply the outcome of any pending regulatory or other approval process.”
● U.S. Government Accountability Office: Cryptocurrency accounting announcements issued by the U.S. SEC must be submitted to Congress for review
According to CoinDesk, the U.S. Government Accountability Office (GAO) stated that the Staff Accounting Bulletin 121 (SAB 121) issued by the U.S. Securities and Exchange Commission (SEC) should go through different procedures, including submission to Congress before taking effect, but the announcement does meet the definition of the rules in the Administrative Procedure Act and there are no exceptions, so the announcement is subject to the submission requirements of the Congressional Review Act.
The SEC said the GAO investigation did not have any direct impact on the announcement. The announcement will now likely go to Congress for review, though the details of the mechanics are unclear. Once a new federal rule reaches Congress, lawmakers will have the opportunity to reject it under the Congressional Review Act.
● Celestia is launched on the mainnet
According to The Block, Celestia has completed the deployment of the mainnet beta, marking the launch of its modular network. The mainnet beta, codenamed Lemon Mint, introduced data availability sampling (DAS).
● L2 total locked value exceeded 12 billion US dollars, setting a new record high
According to l2beat data, the total locked value of the Layer2 network has exceeded $12 billion, reaching $12.03 billion at the time of writing, a record high, with an increase of about 4% in the past seven days. The top three L2s in terms of locked value are: ArbitrumOne with a locked value of $6.63 billion, OPMainnet with a locked value of $3.04 billion, and Base with a locked value of $572 million.
● BTC price and Nasdaq Composite Index weekly correlation hits lowest level since August 2021
According to Reflexivity Research data, the weekly correlation between BTC price and the Nasdaq Composite Index dropped to -0.39, the lowest since August 2021.
● BNB Chain Q3 Status Report: The number of active validators increased by 10% month-on-month
Messari released the BNB Chain Q3 2023 status report. The number of active validators on the BNB Chain increased by 10% month-on-month, from 29 to 31. In the same period last year, there were only 21 validators on the BNB Chain. Due to BNB's token burning mechanism, the circulating supply of BNB fell by 1.3% in the third quarter. In the third quarter, BNB burned 13,400 BNB (US$3.1 million), a decrease of 23% from the previous quarter. This means that the annualized inflation rate in the third quarter was -5.8%, and as in previous quarters, BNB remained in a deflationary state.
DeFi total value locked (TVL) measured in BNB remained stagnant throughout Q3. However, a 23% drop in BNB price led to a 23% drop in TVL measured in USD. Declines in BNB price (-23%), daily trading volume (-14%), and BNB daily transaction fees (-12%) led to a 41% quarter-over-quarter drop in all fee revenue collected by the protocol in USD.
BNB Chain launched opBNB in Q3 and made progress in developing BNB Greenfield (storage network), which is scheduled to be launched in Q4.
● 15th anniversary of Satoshi Nakamoto’s release of Bitcoin white paper
According to Foresight News, on October 31, 2008, Satoshi Nakamoto released the Bitcoin white paper: "Bitcoin: A Peer-to-Peer Electronic Cash System", which is 15 years ago.
● Gary Gensler: Congratulations on the 15th anniversary of the release of the Bitcoin white paper
Gary Gensler, chairman of the U.S. SEC, posted on the X platform that he congratulated Satoshi Nakamoto on the 15th anniversary of his famous white paper, which pioneered the history of cryptocurrency. Any cryptocurrency company that deceived investors should begin to comply with securities laws.
● US President Biden signs executive order on safe development of AI
According to CoinDesk, US President Joe Biden signed an executive order yesterday on the safe, reliable and trustworthy development and use of artificial intelligence (AI), aimed at addressing the potential threats that AI may bring. The executive order points out that the responsible use of AI will help solve urgent challenges and make the world more prosperous, productive, innovative and secure. Irresponsible use may exacerbate social harms such as fraud, discrimination, bias and false information; replace and weaken workers; stifle competition; and pose risks to national security. Although the cryptocurrency market has recorded moderate growth in the past 24 hours, AI-related tokens have generally fallen.
● a16z Policy Director: The UK is pushing to become a global crypto asset technology hub
Brian Quintenz, policy director of a16z, posted on X (original Twitter) that the UK Treasury has issued a concluding statement on the regulatory system for crypto assets, and it is exciting. Andrew Griffith MP, the economic secretary of the UK Treasury, has shown that the government is very clear about its interest in embracing blockchain and crypto innovation, and the government's ambition to make the UK a global crypto asset technology center remains firm. Now, with the future regulatory framework clearly outlined and the Financial Services and Markets Act passed, the UK will start and expand its crypto asset business.
● Spain will implement EU crypto asset market law in December 2025
According to Cointelegraph, Spain will implement the EU Crypto-Asset Market Law (MiCA) at the national level in December 2025, while the general deadline for all 27 EU member states to implement MiCA is July 2026. The Spanish government said: "This will provide legal certainty and greater protection for Spanish investors in such assets."
