Spot Bitcoin ETF will bring risks, Oyi will offline mining pool products

Headlines

▌Beautiful CFTC Chairman: Spot Bitcoin ETFs will bring risks and federal legislation is urgently needed

U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam today Speaking at the American Bar Association event, he expressed concern about the risks posed by the recently approved spot Bitcoin ETF product and reiterated his call for federal-level legislation to regulate cryptocurrencies.   Behnam said: “I am concerned that the regulatory approval of Bitcoin ETP will bring risks. Retail and institutions alike may mistake the technical approval of the product for actual supervision of cash commodity digital assets. The need for federal legislation has never been It is so urgent that I will continue to call for action." Behnam also said that there are currently no good measures to “address opaque and inconsistent practices in digital asset cash markets” around issues such as conflicts of interest and customer protection.

▌OKX will offline mining pool products and related services

According to the official announcement of OKX, according to business adjustments, OKX will offline mining pool products and related services in the near future. Specific offline time: January 26, 2024, Ouyi will close the new user registration function. Existing users can continue to enjoy this product and service until February 25, 2024. On February 26, 2024, Ouyi will close all mining pool products and related services.

Quotes

As of press time, according to coinmarketcap The data shows:

BTC's recent transaction price was US$41,765.0, with intraday increases and decreases< strong>+4.63%;

ETH’s recent transaction price was US$2,275.32, with intraday gains and losses< span style="color: rgb(0, 176, 80);">+2.74%;

BNB’s recent transaction price was US$302.85, with an intraday increase or decrease+3.68% strong>;

XRP’s recent transaction price was US$0.5314, with intraday gains and losses+3.94%;

DOGE’s latest transaction price was US$0.07982, intraday Increase or decrease+2.75%;

ADA's recent transaction price was US$0.4863, with an intraday increase or decrease+4.63%;

SOL’s recent transaction price was US$92.66, with an intraday increase or decrease+6.23%.

Policy

▌美SEC Commissioner: Regulators are very afraid of decentralization

U.S. SEC Commissioner Hester Peirce said in an interview with TechCrunch reporter Jacquelyn Melinek: "Regulators are very afraid. Decentralization, because that means they don’t have control over these entities. But at the same time, that’s where the power lies in building a resilient financial system.”

▌The Securities and Futures Commission of Hong Kong warns the public to beware of two questionable cryptocurrency investment products claiming to offer high returns

The Hong Kong Securities and Futures Commission warns the public to beware of two questionable cryptocurrency-related products called "Floki Staking Program" and "TokenFi Staking Program". The two products involve cryptocurrency staking services and claim to provide high-level annualized return targets ranging from 30% to more than 100%. These two products are not authorized by the SFC for sale to the public in Hong Kong (Notes 1 and 2), and their managers have also failed to demonstrate to the SFC’s satisfaction how these products can achieve high-level annualized return targets. The SFC noted that the Hong Kong public can access the two products and related information through the Internet. Therefore, the SFC published the two products and related information on the suspicious investment product warning website on January 26, 2024.

▌South Korean financial authorities: FIU will issue enforcement orders and notices on the "Specified Financial Information Law" as early as the end of this month Propose amendments

According to South Korean financial authorities, the Financial Services Commission (FSC)’s Financial Intelligence Unit (FIU) will be the earliest by the end of this month. An amendment to the enforcement order and notification of the Specified Financial Information Law will be proposed as late as early next month, which will include standards for banks to issue real-name accounts. The amendments include standards for banks to assess the money laundering risks of virtual asset operators and whether virtual asset operators comply with laws and regulations. In addition, virtual asset operators must comply with the Virtual Asset User Protection Act, which will take effect in July.

Blockchain Application

▌Musk’s AI company seeks to raise $6 billion from investors to challenge OpenAI

Multiple sources People say that xAI, Musk’s artificial intelligence startup, is seeking to raise $6 billion from global investors to fund its challenge to OpenAI. Musk, who hopes to raise as much as $6 billion for xAI at a proposed $20 billion valuation, is also eyeing sovereign wealth funds in the Middle East and has already reached out to investors in Japan and South Korea, people familiar with the matter said. Morgan Stanley is currently coordinating the financing, one of the people said. The size of the financing reflects the huge costs required to develop generative AI.

▌Web3 application De.Fi will launch the "DEFI" token and launch the first season of airdrops

After receiving investment from Bitcoin ETF provider 21Shares, Web3 application De.Fi announced the upcoming launch of "DEFI" tokens on the X platform and launched the first season of airdrops . De.Fi stated that staking DEFI tokens is one of the key criteria to qualify for airdrop distribution, and active users will also have the opportunity to receive rewards. De.Fi also revealed that a snapshot will be taken before the token distribution, but the specific time has not yet been disclosed.

▌friend.tech: The last weekly point distribution of the test period will be carried out

Web3 social platform friend.tech posted on social media that tonight, we will conduct the last weekly points distribution during the test period, bringing the total number of points distributed to 90 million. . The remaining 10 million test period points will be distributed in our upcoming V2 version.

Cryptocurrency

▌ BlackRock Spot Bitcoin ETF Asset Management Scale Exceeds US$2 Billion

Golden Finance Report, BlackRock Spot The asset management scale of Bitcoin ETF (IBIT) exceeded US$2 billion, becoming the first ETF among nine new products of its kind to reach this scale (excluding Grayscale’s GBTC). On Thursday, investors added approximately $170 million to IBIT, and the fund purchased nearly 4,300 more BTC, bringing the total number of BTC held to 49,952. The next fund to cross the $2 billion mark is likely to be Fidelity’s Wise Origin Bitcoin Fund (FBTC), which held just under 44,000 Bitcoins as of January 25.

Important Economic Updates

▌U.S. stocks closed: the three major stock indexes were mixed, Intel fell nearly 12%

Golden Ten Data 1 On March 27, U.S. stocks closed on Friday, with the Dow Jones Industrial Average initially closing up 60 points or 0.16%, the S&P 500 Index falling 0.07%, and the Nasdaq Composite Index falling 0.36%. Intel (INTC.O) closed down nearly 12% after the results, and Western Digital (WDC.O) fell 3.48%. Tesla (TSLA.O) and Boeing (BA.N) both opened lower and closed higher, closing up 0.34% and 1.78% respectively. (Jinshi Data APP)

Golden Encyclopedia

▌What are cryptocurrency hedge funds?

Cryptocurrency hedge funds were created in response to the complexities of cryptocurrency investing by pooling funds from different investors. Strategically trade digital assets with the aim of generating positive returns.

Unlike their traditional counterparts, cryptocurrency hedge funds focus on cryptocurrency fund management, investing in cryptocurrencies and employing various strategies to generate good returns for investors. This includes buying and selling cryptocurrencies, as well as engaging in cryptocurrency derivatives and futures trading. In particular, cryptocurrency hedge funds act as intermediaries between contributing investors and originating traders for investors looking to gain exposure to digital assets.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.