Headlines

Coinbase seeks to launch derivatives products such as perpetual futures contracts in Canada

Coinbase is seeking to launch perpetual futures contracts and other derivatives products in Canada and is in open dialogue with politicians and regulators such as the Ontario Securities Commission (OSC) to update the country’s policies to achieve this goal, Lucas Matheson, Coinbase’s director of Canada, said in an interview.

Additionally, Coinbase is applying for a “Restricted Dealer Registration,” a new type of guidance that would require exchanges to register with the Canadian government. To that end, Coinbase recently joined the Canadian Web3 Council, a multi-party nonprofit organization that aims to make Canada’s legislative and regulatory initiatives more industry-friendly.

▌Forbes builds permanent land in the Sandbox virtual universe

Forbes announced the official establishment of permanent land in the Sandbox virtual universe. This strategic move not only marks Forbes' deeper involvement in the Web3 field, but also strengthens its belief in the transformative potential of the virtual universe. It is reported that Forbes' virtual estate will serve as a dynamic community center, aiming to promote interaction, participation and collaboration among the Forbes Web3 community, and is now open to the public.

Quotes

As of press time, according to coinmarketcap data:

The latest transaction price of BTC is $51,727, with a daily change of -0.77%;

ETH's latest transaction price is $2940.74, with a daily change of +1.11%;

BNB's latest transaction price is $351.7, with a daily change of -0.65%;

ORDI's most recent trading price is $69.557, with a daily change of -0.87%;

DOGE’s latest trading price is $0.0895, with a daily change of +2.22%;

SOL's latest transaction price is $111.49, with a daily change of -1.97%.

policy

▌The UK government plans to introduce laws on stablecoins and crypto staking within six months

The UK government plans to have lawmakers approve new rules governing stablecoins and crypto asset staking services within the next six months as pressure grows to come up with concrete proposals before the upcoming general election.

Speaking today, Bim Afolami, economic secretary to the UK Treasury, said the government was "pushing hard" on legislation. He said: "We are very clear that we want to get these things done as quickly as possible. I think these things are feasible in the next six months."

The U.K. Treasury first pledged in October to provide greater clarity on the specific area of ​​cryptocurrencies sometime in 2024, but the broader proposal to bring crypto exchanges and other industry providers under existing financial services rules remains pending. When asked whether that guidance might also become legislation this year, Afolami said he could not provide a timeline.

▌Crypto supporter Deaton may compete with US Senator Warren for a Senate seat

Fox reporter Eleanor Terrett said on the X platform that US Democratic Senator Elizabeth Warren is calling on her donor group because she expects her Massachusetts Senate seat to be challenged by crypto supporter and well-known lawyer John E Deaton. It is reported that Elizabeth Warren directly responded to the report of The Boston Globe, speculating that Deaton will compete with her in this year's election.

Deaton has not publicly announced whether she intends to run, but Warren said she is not worried, highlighting that cryptocurrency lobbying groups have targeted her as she tries to bring the industry into compliance with regulations and protect consumers from scams.

▌SkyBridge founder: The motive of the US SEC chairman to oppose encryption is to become the Secretary of the Treasury

SkyBridge founder Anthony Scaramucci said he believes the real reason the SEC chairman is taking a tough stance on crypto is his desire to serve as Treasury secretary during President Joe Biden’s second term.

Scaramucci said that despite Gensler’s public opposition to cryptocurrencies, he is essentially a believer in cryptocurrencies. Scaramucci said: "Go to MIT to watch his 24-hour lecture, where Gensler taught a blockchain course, he does not hate cryptocurrencies. But now politics is interfering with the regulatory power of the United States."

Other crypto industry supporters have previously called Gensler’s actions politically motivated.

Blockchain Applications

▌Trust Wallet launches SWIFT smart contract wallet

The multi-chain wallet Trust Wallet officially announced the launch of Trust Wallet SWIFT, a smart contract wallet driven by account abstraction. It has entered the public testing phase and will be fully launched globally on February 26, 2024.

SWIFT supports 7 major low-cost and scalable EVM chains, including Arbitrum, Polygon, BSC, opBNB, Base, Optimism, and Avalanche, with plans to add support for more chains.

Backpack wallet integrates Wormhole protocol

Backpack wallet announced that it has integrated the multi-chain messaging protocol Wormhole, which facilitates token exchanges and interactions between different blockchain networks. This integration allows Backpack users to bridge and exchange tokens between Solana and Ethereum.

Cryptocurrency

▌Bitwise Spot Bitcoin ETF Approved for Full Access to Advisors in US$30 Billion RIAs

Bitwise CEO Hunter Horsley said on the X platform that the Bitwise Spot Bitcoin ETF (BITB) has been selected and approved for full access to advisors in the $30 billion nationwide RIA (Registered Investment Advisor), one of the largest RIAs in the country.

▌Tiger Securities CFO: We are evaluating the launch of more altcoins and will implement international expansion strategies in the UK, US and other markets

John Fei Zeng, chief financial officer of Tiger Brokers, said in an interview that the company is currently evaluating other digital assets such as altcoins for listing after regulatory approval, while implementing an international expansion strategy in licensed markets such as Australia, the United States, Singapore, Hong Kong, the United Kingdom and New Zealand. John Fei Zeng said: "In addition to stocks and options, cryptocurrency is becoming an important asset class. Therefore, adding new asset classes is a natural extension of the broker-dealer business, and the underlying Web3 technology is also combined with Tiger's fintech background."

It is reported that the company currently has 865,500 fund accounts and manages total assets of US$18.9 billion.

▌Asian family offices are looking to increase their allocation to digital assets

Zann Kwan, managing partner and chief investment officer at wealth management firm Revo Digital Family Office, said family offices (FOs) in Asia are looking to increase their allocation to digital assets. "The trend we are observing is that family offices that have already invested in the industry are planning to increase their allocations," said Zann Kwan. "Those who have been on the sidelines are increasingly interested in understanding how allocating to digital assets can potentially reduce portfolio risk or improve its actual returns."

Kwan said the allocations covered cryptocurrencies accumulated directly and indirectly across a range of cryptocurrency funds, structured products and direct private equity investments.

Important economic developments

▌The probability of the Fed keeping its policy unchanged in March is 91.5%

According to CME's "Fed Watch": the probability of the Fed keeping interest rates unchanged in the range of 5.25%-5.50% in March is 91.5%, and the probability of a 25 basis point rate cut is 8.5%. The probability of keeping interest rates unchanged in May is 51.6%, the probability of a cumulative 25 basis point rate cut is 44.7%, and the probability of a cumulative 50 basis point rate cut is 3.7%.

Golden Encyclopedia

▌The role of validators in blockchain

Validators are responsible for adding new blocks and verifying transactions in proposed blocks, thus playing a vital role in the operation of the blockchain. Validators are essential for verifying transactions in blockchain consensus mechanisms such as Proof of Stake (PoS) and Proof of Authority (PoA). They check whether new transactions comply with the network rules and ensure that the sender has enough funds to complete the transaction. Validators are also responsible for ensuring the security of the blockchain by monitoring the network for any malicious activities such as double spending. Validators are paid in the native cryptocurrency of the underlying blockchain.

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.