1. BlackRock executives: Currently about 80% of Bitcoin spot ETF purchases may come from "autonomous investors"
According to CNBC, Samara Cohen, chief investment officer of BlackRock ETF and index investments, said at the Coinbase Cryptocurrency Summit in New York that about 80% of current Bitcoin spot ETF purchases may come from "self-directed investors who usually configure online brokerage accounts." According to last quarter's 13-F filing, hedge funds and brokerage firms are also Bitcoin ETF buyers, but registered investment advisors are more "cautious."
2. Former U.S. House Speaker calls on lawmakers to promote dollar stablecoins
Former U.S. House Speaker Paul Ryan recently published an opinion article in the Wall Street Journal, calling on U.S. lawmakers to promote dollar-backed stablecoins, arguing that the adoption of stablecoins will make U.S. debt more attractive in the international market.
Ryan said, “If other countries succeed in increasing the influence of their currencies while selling their national debt, the United States needs to find new ways to increase the appeal of the dollar. Dollar-backed stablecoins are one answer.”
3. Coinbase: The number of cryptocurrency developers in the United States has dropped 14% in the past five years
Coinbase released a report stating that the number of cryptocurrency developers based in the United States has decreased by 14% in the past five years and currently only accounts for 26% of all developers. Fortune 500 executives have expressed concerns about the talent shortage, believing that this poses a greater obstacle to the adoption of cryptocurrency than regulatory issues. Coinbase believes that the rules and regulations related to cryptocurrency need to be clarified in order to keep developers in the United States.
4. The US SEC rejected Ripple’s request to reduce the fine
According to Cointelegraph, the U.S. SEC rejected Ripple's request to reduce the fine, believing that the lower civil penalty proposed by Ripple was not sufficient to resolve the problem and could not be compared with the settlement it reached with Terraform Labs.
On June 13, Ripple cited the settlement agreement reached between the U.S. SEC and Terraform Labs, and again asked New York District Court Judge Analisa Torres to impose a fine of "no more than $10 million", which is far lower than the $876.3 million civil penalty proposed by the regulator.
5. Tiger Brokers launches virtual asset trading services for Hong Kong retail investors
According to the Hong Kong Economic Journal, Tiger Brokers (Hong Kong) announced that after opening virtual asset trading services to professional investors in Hong Kong earlier, it has now been approved by the Hong Kong Securities Regulatory Commission to upgrade its license and officially expand the service to retail investors in Hong Kong. Currently, retail investors in Hong Kong can trade various global assets including Bitcoin and Ethereum, as well as stocks, options, futures, US Treasury bonds, funds, etc. through Tiger Brokers' flagship investment platform Tiger Trade.
6. Shengli Securities will provide compliant virtual asset fund products with Virtual Seed Global
Shengli Securities announced that it has signed a memorandum of understanding with Virtual Seed Global, a virtual asset ecosystem organization. In the future, the two parties will provide investors with virtual asset fund products based on the overall goals and requirements of the compliance system.
7. South Korea launches 20 billion won blockchain support plan to support 14 public and private projects
According to South Korea's FN News, the Ministry of Science, ICT and the Korea Internet and Security Agency (KISA) announced the joint launch of the 2024 Blockchain Support Plan. As part of the "Blockchain Industry Revitalization Strategy", the plan will promote 14 blockchain projects, including 6 projects in the public sector and 8 projects in the private sector, with a total scale of 20 billion won (about 14.5 million US dollars).
8. Hong Kong Legislative Council convenes a subcommittee meeting on Web3 and virtual asset development
The Legislative Council of the Hong Kong Special Administrative Region will hold a meeting of the Subcommittee on Web3 and Virtual Asset Development from 16:30 to 17:00 today. According to the agenda, the meeting will elect the Vice Chairman of the Legislative Council.
9. South Korea's "Virtual Asset User Protection Act" will take effect on July 19, and exchanges must regularly evaluate the currencies they list.
South Korea's Virtual Asset User Protection Act will take effect on July 19, and crypto exchanges will comprehensively review the listing status of more than 600 virtual assets currently being traded, according to the Korea Times. South Korea's Financial Supervisory Service (FSS) and the virtual asset industry said on Sunday that 29 cryptocurrency exchanges registered with financial authorities, including Upbit, Bithumb, Coinone, Korbit and Gopax, must regularly evaluate whether to continue supporting trading of their listed currencies. Exchanges must set up their own evaluation and decision-making bodies within their organizations to evaluate the reliability, user protection measures, technology and security, and regulatory compliance of the issuers of their listed currencies. Crypto exchanges are required to review their listed currencies every six months, and after the initial review, exchanges are required to conduct maintenance audits every three months.
10. Tether launches Alloy by Tether platform, with the first token being aUSD₮
Tether launched the Alloy by Tether platform, which allows the creation of different "tethered assets" designed to track the price of reference assets through stabilization strategies such as over-collateralization of liquid assets and secondary market liquidity pools. The first token in the Alloy by Tether series is aUSD₮. This digital currency is designed to track the value of one US dollar. What makes aUSD₮ unique is that it is over-collateralized by Tether Gold (XAU₮), which means it is backed by real physical gold stored in Switzerland. Users can create aUSD₮ tokens using Tether Gold (XAU₮) as collateral.
11. The head of the US SEC's crypto assets and network department resigned
The head of the U.S. Securities and Exchange Commission’s crypto assets and cyber division is leaving the agency after nine years in the position, The Block reported.
12. Gemini becomes the custodian of Monochrome Bitcoin spot ETF
According to Crowdfund Insider, cryptocurrency exchange Gemini said it will provide Bitcoin custody services for the spot Bitcoin ETF listed by Monochrome Asset Management.
Monochrome Asset Management is an Australia-based investment management company that provides access to crypto assets through traditional financial markets.
13. Purpose launches Ethereum staking-related ETF, listed and traded on Canada’s Cboe
Asset management company Purpose Investments launched the Purpose Ether Stake Corp. ETF, code ETHC.B, which began trading on the Chicago Board Options Exchange (Cboe) in Canada today. The ETF was converted from its Ether Capital and will use proprietary staking technology to provide investors with access to Ethereum and returns on Ethereum staking.
