Loading...
SEC Chairman Gary Gensler will officially step down on January 20, 2025 According to a statement released on the official website of the US Securities and Exchange Commission (SEC), SEC Chairman Gary Gensler will officially step down at noon on January 20, 2025. Since taking office on April 17, 2021, Gensler has promoted multiple important reforms, including capital market efficiency, resilience, and integrity. During his tenure, the SEC completed thousands of enforcement actions, recovered approximately $21 billion in fines, and returned $2.7 billion to damaged investors. Gensler has made significant law enforcement efforts in the field of cryptocurrency, taking action against fraudulent transactions, registration violations, and other behaviors. According to SEC data, approximately 18% of reports in fiscal year 2024 are related to cryptocurrency. In addition, he has promoted multiple rule reforms, including shortening the stock settlement cycle to one day, enhancing network and climate risk disclosure, and strengthening supervision of investment advisors. Four institutions have submitted Solana ETF applications, and if accepted by the SEC, they may be approved in early August Bloomberg ETF analyst James Seyfart stated in a post that Cboe BZX exchange documents show that the exchange proposes to list and trade four Solana related ETFs on its platform. These ETFs are initiated by Bitwise, VanEck, 21Shares, and Canary Funds, classified as "commodity based trust fund shares," and submitted in accordance with Rule 14.11 (e) (4). If officially accepted by the SEC, the final approval deadline is expected to be in early August 2025. Insiders: Negotiations between the US SEC and issuers hoping to launch SOL spot ETFs are making progress Trump media may plan to launch encrypted payment service 'TruthFi' According to The New York Times, the social media company of US President elect Donald Trump, Trump Media& Technology Group recently submitted a trademark application to launch an encrypted payment service called "TruthFi". The platform will focus on encrypted payments, financial custody, and digital asset trading. Jiaxin Wealth Management plans to launch spot encrypted trading after regulatory improvements According to Bloomberg, Rick Wurster, the incoming CEO of Charles Schwab, stated that the company plans to launch spot cryptocurrency trading after improvements in US cryptocurrency regulations. Wurster said in an interview, "We expect the regulatory environment to change and are preparing for this possibility At present, Jiaxin Wealth Management has provided cryptocurrency related ETFs and cryptocurrency futures, but has not directly entered the spot trading market. Wurster mentioned that cryptocurrency has attracted a lot of attention, but he currently has no personal investment plans, although he supports clients investing in cryptocurrency assets. Wurster will take over as CEO in early 2025, and current CEO Walt Bettinger will retire. Coinbase International Station will launch CoW Protocol perpetual futures contract Coinbase International announced on X platform that Coinbase International and Coinbase Advanced will add support for CoW Protocol perpetual futures contracts, and the COW-PERP market is expected to open on or after 17:30 Beijing time on November 26, 2024. Michael Novogratz: Bitcoin is expected to experience a pullback, as there is currently a significant amount of leverage in the cryptocurrency market According to CNBC, Michael Novogratz, founder and CEO of Galaxy Digital, expressed his views on Bitcoin. He stated that Bitcoin is expected to break through the highly anticipated $100000 mark in the strong rebound after the US election, but this does not mean that it will continue to rise. Novogratz pointed out in the program "Financial Forum" that although the price of Bitcoin reaching six digits is "inevitable" and may continue to rise, it will eventually rebound. He emphasized that there is currently a significant amount of leverage in the cryptocurrency market, and the cryptocurrency community is highly leveraged, so a market correction is imminent. However, Novogratz predicts that Bitcoin will not fall below $80000, the price before Trump's election. He also warned that stocks with trading methods similar to Bitcoin leveraged trading, such as MicroStrategy, may face greater adjustments. In addition, Novogratz recommends investors to directly purchase Bitcoin instead of companies like MicroStrategy. Bitcoin mining company MARA completes $1 billion convertible senior notes issuance According to official sources, Bitcoin mining company MARA Holdings, Inc. has completed the issuance of $1 billion convertible senior notes, including $150 million notes issued with purchase options granted to initial buyers under the purchase agreement. The purchase option period is 13 days from the date of initial issuance of the notes, and the initial buyers will exercise it in full on November 19, 2024, with additional purchases completed on November 20, 2024. MicroStrategy has completed a $3 billion convertible bond issuance and plans to continue increasing its holdings of Bitcoin According to MicroStrategy's announcement, the company has completed a $3 billion zero coupon convertible senior bond issuance, which will mature in 2029 at a 55% premium to market price, approximately $672 per share. The net fundraising for this issuance is approximately $2.97 billion, and MicroStrategy plans to use the majority of the funds to purchase more Bitcoin and for other operational purposes of the company. This bond issuance is only open to qualified institutional investors and is not registered with the US Securities and Exchange Commission. After conversion, it can be converted into cash, stocks, or a combination of both. MicroStrategy continues to consolidate its position as the world's largest Bitcoin treasury company. The board of directors of US listed company Steakholder Foods approves its purchase of cryptocurrency as a reserve asset Jianan Technology raises $30 million through preferred stock issuance According to Finance Magnates, Bitcoin miner manufacturer Canaan Inc. (NASDAQ: CAN) recently signed a securities purchase agreement to sell up to 30000 Series A-1 preferred shares to an institutional investor at a price of $1000 per share. The agreement will raise $30 million to support North American digital mining and device development. Previously, Jianan Technology had completed its Series A financing in September 2024, selling up to 125000 Series A convertible preferred shares. Decentralized gaming player network KGeN raises $10 million in funding, led by Aptos Labs According to official sources, decentralized gaming player network KGeN announced the completion of a $10 million financing round, led by Aptos Labs, with participation from Game7 DAO and Polygon. It is reported that KGeN aims to provide more accurate user profiles for game projects and reduce customer acquisition costs based on its data collection of game players. So far, KGeN has mapped over 197 million game player attributes based on 10.8 million players, providing insights into game behavior. AI company Genius Group purchases an additional $4 million worth of Bitcoin, increasing its holdings to 153 BTC 29000 BTC options and 164000 ETH options will expire today, with a total nominal value of $3.39 billion According to Greeks.live, 29000 BTC options will expire this week with a Put Call Ratio of 1.1 and a Maxpain of $86000, with a total nominal value of $2.84 billion. At the same time, 164000 ETH options will expire with a Put Call Ratio of 0.65, a maximum pain point of $3050, and a total nominal value of $550 million.