Headlines
▌Tether has incorporated the FBI and the US Secret Service into its platform
Tether has published letters to the U.S. Senate, Housing and Urban Affairs Committee, and the U.S. House of Representatives Financial Services Committee outlining its "commitment to security and a close working relationship with law enforcement." In the latest letter, Tether CEO Paolo Ardoino highlighted Tether's recent decision to ban USDT from all wallets on the Office of Foreign Assets Control (OFAC) sanctions list.
▌FTX Debtors Submit Reorganization Plan
Debtors of cryptocurrency exchange FTX have filed an amended Chapter 11 reorganization plan that indicates the value of customer asset claims will be backdated to the time of the exchange’s collapse in November 2022. The value of the claims will purportedly be determined based on the value of crypto assets converted into cash using the conversion rates specified in the conversion table.
Quotes
As of press time, according to coinmarketcap data:
BTC's latest transaction price is $42,182.04, with a daily change of +0.16%;
ETH's latest transaction price is $2,225, with a daily change of -0.61%;
BNB's latest transaction price is $234.84, with a daily change of -0.88%;
XRP's latest transaction price is $0.62156, with a daily change of +0.49%;
DOGE’s latest trading price is $0.09623, with a daily change of +2.96%;
ADA’s latest trading price is $0.6102, with a daily change of +1.31%;
SOL's latest transaction price is $73.47, with a daily change of -0.27%.
policy
▌HKEX: Current CEO Ou Chuansheng will not renew his contract, and the successor to Joint Operations Director Chen Yiting has been approved by the Hong Kong Securities and Futures Commission
The Hong Kong Stock Exchange announced that the current CEO, Ou Guansheng, has confirmed that he will not seek re-election after his term ends in May 2024, and the current co-operating director, Chen Yiting, will become the next CEO of the Hong Kong Stock Exchange for a period of three years. Chen Yiting's appointment has been approved by the Hong Kong Securities Regulatory Commission. Another current co-operating director of the Hong Kong Stock Exchange, Yao Jiaren, has been appointed as the deputy chief executive officer of the Hong Kong Stock Exchange Group. It is reported that during his tenure, Ou Guansheng and Yao Jiaren supported the listing of the first batch of crypto asset ETFs in Asia, including the Southern East Bank Bitcoin Futures ETF, the Southern East Bank Ethereum Futures ETF, and the Samsung Blockchain Technology ETF, the Samsung Bitcoin Futures Active ETF, etc.
Blockchain Applications
▌NFT Trader: Beware of Impersonation Sites and Only Use Official Recovery URLs
NFT Trader said that phishing sites using the NFT Trader name continue to emerge, please be vigilant and only use the official recovery URL. Due to a bug in the data reporting oracle, some assets may have been included in our smart contracts.
▌Blockchain ledger payment platform RYVYL and R3 jointly launched the blockchain-as-a-service platform "RYVYL Block"
Blockchain ledger payment platform RYVYL and distributed ledger technology company R3 jointly launched the blockchain-as-a-service platform "RYVYL Block", which will leverage RYVYL's background in digital solutions and R3's blockchain technology to ensure smooth integration into existing business frameworks. It aims to simplify blockchain integration and enable corporate customers to access the tools needed to develop a secure distributed ledger infrastructure and build modules with rich business APIs and rapid implementation.
▌FTX Debtors Submit Restructuring Plan
Debtors of cryptocurrency exchange FTX have filed an amended Chapter 11 reorganization plan that indicates the value of customer asset claims will be backdated to the time of the exchange’s collapse in November 2022. The value of the claims will purportedly be determined based on the value of crypto assets converted into cash using the conversion rates specified in the conversion table.
Cryptocurrency
▌Bitcoin hits record highs against local currencies in Egypt, Nigeria, Lebanon, Pakistan, Turkey and Argentina
The price of Bitcoin has risen by about 80% in 2023, reaching its highest level of the year. Although it has not yet reached its historical high of $69,000 and has failed to recover its historical high in dollar value, if calculated according to the exchange rates of Egyptian pound, Nigerian naira, Lebanese pound, Pakistani rupee, Turkish lira and Argentine peso, it has touched the historical highs of these currencies. Analysts believe that the sharp rise in Bitcoin prices in these countries is due to the high inflation rates currently plaguing these countries and the decline in the exchange rates of these currencies against the US dollar. For example, Lebanon's inflation rate is currently 208%, Argentina's is 135%, Egypt's is 35.7%, Nigeria's is 30.6%, Turkey's is 64%, and Pakistan's is 29.4%.
▌Tether has incorporated the FBI and the US Secret Service into its platform
Tether has published letters to the U.S. Senate, Housing and Urban Affairs Committee, and the U.S. House of Representatives Financial Services Committee outlining its "commitment to security and a close working relationship with law enforcement." In the latest letter, Tether CEO Paolo Ardoino highlighted Tether's recent decision to ban USDT from all wallets on the Office of Foreign Assets Control (OFAC) sanctions list.
▌Georgetown University business professor urges the US SEC to allow spot Bitcoin ETFs to use physical creation methods
James Angel, a business professor at Georgetown University, wrote a letter to the U.S. Securities and Exchange Commission (SEC) on Tuesday regarding all proposals for spot Bitcoin ETFs that the regulator has received. James Angel urged the SEC to avoid micromanaging the creation/redemption process of spot Bitcoin ETFs. Professor Angel said that now that the SEC seems to be satisfied with allowing spot Bitcoin ETFs to trade in the United States, it should not waste this positive development by forcing a suboptimal product (cash-only creation/redemption) into the market. Media reports indicate that the long-overdue spot Bitcoin ETF is about to be approved. Doing this quickly and correctly will free up the SEC's resources to accomplish other more important things to promote the SEC's important mission.
▌USDC circulation increased by 100 million in the past week
According to data from the Circle website, from December 8 to December 14, Circle issued a total of 1.9 billion USDC, redeemed 1.8 billion USDC, and the circulation increased by 100 million. As of December 14, the circulation of USDC was 24.4 billion, and the reserve funds were approximately US$24.5 billion.
Important economic developments
▌Hong Kong Securities and Futures Commission: Received 2017 license applications in the third quarter, an increase of 13% from the previous quarter
The third quarter report released by the Hong Kong Securities and Futures Commission recently showed that in the third quarter, the Hong Kong Securities and Futures Commission received 2017 license applications (including 1972 individuals and 45 institutions), an increase of 13% from the previous quarter and 6% from the same period last year. As of September 30, the total number of licensed institutions, individuals and registered institutions was 48362, including 3236 licensed institutions and 112 registered institutions. In the third quarter, the total number of new licensed institutions, individuals and registered institutions was 3094, including 3061 individuals, and 33 licensed institutions and registered institutions. Among the 33 company licenses issued in the third quarter, Category 9 (providing asset management) regulated activities and Category 4 (providing advisory opinions on securities) accounted for 44% and 36% respectively.
Golden Encyclopedia
What is composability in DeFi?
In decentralized finance (DeFi), composability refers to the ability of various applications and protocols to communicate with each other seamlessly, allowing their building blocks to be combined and integrated to create new functions or financial services. This interoperability is similar to Lego blocks, where different protocols can be assembled and flexibly combined.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
