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October 1

MicroStrategy's BTC holdings may surpass Grayscale

Grayscale GBTC and Mini BTC currently hold more than 254,000 Bitcoins in total. But the recent financing has left MicroStrategy with more than $1 billion in funds that have not yet been deployed (or at least not announced). Presumably, these funds will be used to purchase more Bitcoin, which will add thousands of Bitcoins to its balance sheet and make its holdings far greater than Grayscale.

BlackRock completes acquisition of GIP

BlackRock announced the successful completion of its acquisition of Global Infrastructure Partners (GIP). The combination will create an industry-leading infrastructure firm across equity, debt and solutions, providing broad infrastructure industry expertise and investment opportunities in developed and emerging markets.

Binance will introduce risk warning banners for tokens that have significant changes to the token economic model

Binance announced on its official website that starting from October 1, 2024, Binance will introduce risk warning banners and pop-up notifications for tokens with significant changes in token economic models and supply on the platform. To trade these tokens marked with significant token economic model changes, users will first need to confirm the pop-up notification.

October 2

Japan to review cryptocurrency regulations, expected to create conditions for the launch of cryptocurrency ETFs

Japan plans to evaluate the effectiveness of its cryptocurrency regulations, a review that will take place in the next few months and could pave the way for the country to launch cryptocurrency exchange-traded funds (ETFs). An official from the Financial Services Agency (FSA) of Japan said the review will measure whether the country's current approach to cryptocurrency regulation under the Payment Services Act (PSA) is sufficient.

Bitwise Files XRP ETF Application in Delaware

Bitwise has filed an exchange-traded fund application in Delaware, and the application for the Bitwise XRP exchange-traded fund (ETF) appeared on the Department of Corporations website. According to the application, the Bitwise XRP ETF was established on September 30, 2024. The registered agent is listed as CSC Delaware Trust Company, headquartered in Wilmington, Delaware.

Several people in Yunnan, China were sentenced for suspected pyramid selling due to setting up online platforms to issue virtual currencies

In February 2023, the seven defendants discussed building a network platform for investing in virtual currencies. After reaching an agreement, they contacted a Sichuan company, and technical personnel developed the "3M platform" to issue tokens "Mavro Coins" to lure investors into the project by offering high profits from investing in virtual currencies. After the platform was built and put into operation, the seven defendants actively promoted the investment platform for high profits, and went offline to promote and develop downlines, and their downlines developed other downlines. According to the defendants' roles in the crime, development levels, confessions, and return of stolen money, they were sentenced to fixed-term imprisonment of two years and six months to one year and six months, suspended sentences, and fines.

October 3

Hong Kong Monetary Authority and Qatar Central Bank strengthen financial cooperation

The Hong Kong Monetary Authority and the Central Bank of Qatar held a bilateral meeting in Doha on 3 October (Doha time) to strengthen cooperation in the financial services sector between the two places. During the meeting, the HKMA and the Central Bank of Qatar discussed a number of cooperation plans to strengthen cooperation in the field of financial infrastructure, and shared experiences on capital market connectivity, sustainable finance, bond market development, digital assets and talent cultivation.

SEC director who led cryptocurrency crackdown to leave

Gurbir S. Grewal, director of the U.S. Securities and Exchange Commission's Division of Enforcement, will leave the office after 21 years, officially stepping down on October 11. As the top cop at the security regulator, Gurbir S. Grewal has filed enforcement actions against several of the most prominent U.S. cryptocurrency companies, including Coinbase, Kraken, and Ripple Labs, as well as countless international entities such as Binance. During Gurbir S. Grewal's tenure, the agency approved more than 100 enforcement actions against cryptocurrency companies.

US federal appeals court legalizes election prediction markets

A U.S. federal appeals court has approved derivatives exchange Kalshi’s listing of event contracts related to U.S. election results despite opposition from regulators. The ruling paves the way for election prediction markets to operate, potentially including Web3 platforms like Polymarket, to operate in the United States.

October 4

SEC supports charges against Nvidia

The U.S. Department of Justice and the U.S. Securities and Exchange Commission (SEC) told the U.S. Supreme Court that a class-action lawsuit against Nvidia, which accuses it of misleading cryptocurrency miners in its sales, should be approved. The legal battle between Nvidia and the investor groups has been going on since 2018, and the case has now reached the U.S. Supreme Court.

Tencent and France's Guillemot family consider acquiring Ubisoft

Tencent and France's Guillemot family are considering buying Ubisoft, sources say. The consideration of Ubisoft is reportedly at an early stage and may not lead to a deal. One of the possibilities being discussed is to join forces to take the company private, people familiar with the matter said.

Harris team actively seeks to engage with the crypto industry

Mavericks owner Mark Cuban said Harris' team is actively seeking engagement with the crypto industry and listening carefully to industry opinions, which may indicate that Harris plans to distance herself from the Biden administration's crypto policy.

October 5

Coinbase to remove all unauthorized stablecoins from its EU exchange by year end

Coinbase will remove all unauthorized stablecoins, including Tether, from its EU cryptocurrency exchange by the end of the year. The EU’s new MiCA rules, which will fully take effect on December 31, require stablecoin issuers to hold an e-money authorization in a member state.

El Salvador’s Bitcoin Strategy Faces IMF Scrutiny

The International Monetary Fund (IMF) has asked the government of El Salvador to reduce the country’s investment in Bitcoin, citing concerns over the country’s Bitcoin legislation and the widespread use of cryptocurrencies.

Bitwise to launch Bitcoin and Treasury bond rotation strategy ETF

Bitwise announced the launch of the Bitwise Trendwise Bitcoin and Treasury Rotation Strategy ETF (BITC), which combines the Bitwise Bitcoin Strategy OptmRollETF (BITC), the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and EthEqWghStrETF (BTOP). In a statement, Bitwise said that asset managers can rotate between 100% exposure to crypto futures contracts and 100% exposure to U.S. Treasury bonds based on market trends, thereby better managing volatility in the crypto market.

October 6

UAE to exempt cryptocurrency transfers and conversions from VAT

The United Arab Emirates’ amendments to value-added tax (VAT) regulations will exempt the transfer and conversion of virtual assets, including cryptocurrencies. PwC said the new regulations include VAT exemptions for additional services, including the management of investment funds and the transfer and conversion of virtual assets.

Ro Khanna Becomes First US Democrat to Support Bitcoin Reserve Act

U.S. Senator Cynthia Lummis announced legislation to create a strategic Bitcoin reserve at Bitcoin Nashville in July. Lummis’ bill would purchase 1 million Bitcoins using existing funds from the Federal Reserve and the Treasury Department. The same day Lummis unveiled details of her bill, former President Donald Trump outlined his own policy of creating a “national Bitcoin reserve” and “never selling” the approximately 200,000 Bitcoins currently owned by the U.S. government. In a recent episode of the Unchained Podcast, Democratic Rep. Ro Khanna emphasized that the U.S. government should continue to hold seized Bitcoin as a strategic reserve asset.

Bitcoin Core 28.0 has been officially released

Bitcoin Core 28.0 has been officially released. This update introduces several new features, bug fixes, and performance improvements.

October 7

Musk forwarded Polymarket's US election prediction data

Musk forwarded the US election prediction data on the prediction market Polymarket on his personal social platform and said that Trump leads Harris by 3% in the prediction market. Because real money is involved in the prediction market, these markets tend to be more accurate than polls.

Binance market share drops significantly

According to the CCData report, Binance’s market share has dropped to 36.6%, a four-year low. Since March this year, Binance’s market share has continued to decline as global regulators have stepped up their scrutiny.

Humanode launches $10 million ecosystem financing plan

The $10 million initiative from biometric blockchain project Humanode is intended to “support and nurture projects on its chain.” The project will be based on the Humanode EVM and will use cryptographic biometrics to protect against Sybil attacks.