Rain News: BlackRock's IBIT Launch; FTX's Chapter 11 Twist; Tether's Security Boost and more news...
GLOBAL NEWS?
BlackRock Debuts IBIT ETF, Blending Cash and Bitcoin Redemptions
BlackRock's latest venture, the IBIT Bitcoin ETF, marks a significant step in cryptocurrency investment tools. Detailed in their amended S-1 filing , the ETF uniquely offers both cash and 'in-kind' bitcoin redemption mechanisms. This dual model, pending SEC approval, aims to provide investors with unprecedented flexibility: cash redemptions for straightforward transactions and 'in-kind' options for those preferring direct bitcoin exchanges. This approach not only aligns with SEC's regulatory inclinations but also positions BlackRock at the forefront of innovative ETF structures in the digital asset space.
FTX Debtors Estate Unveils Amended Chapter 11 Plan?
FTX's new Chapter 11 plan, led by CEO John Ray III, proposes valuing digital assets at pre-collapse rates as of Nov. 11, 2022, amidst a recovering crypto market, sparking debate among creditors like Sunil Kavuri over the alignment with FTX's original Terms of Service.
Tether CEO Announces Enhanced Security Measures and Law Enforcement Partnerships
Tether's CEO, Paolo Ardoino, in a strategic move to enhance security and compliance, has informed U.S. Senate and House Committees about disabling tokens in OFAC-sanctioned wallets, emphasizing the company's dedication to working closely with law enforcement. Tether's collaboration with the Department of Justice, U.S. Secret Service, and the FBI has led to significant actions, including the freezing of 326 wallets, effectively controlling a substantial sum of 435 million USDT.
Bloomberg Analysts Anticipate Imminent Approval of Spot Bitcoin ETFs by SEC
James Seyffart and Eric Balchunas, Bloomberg Intelligence ETF analysts, have garnered attention for their predictions on spot bitcoin ETF approvals. In a recent podcast , Seyffart suggested a high probability of SEC approval by early January, highlighting the strategic timing of decisions across multiple applications to avoid favoritism. Drawing from reliable sources and meticulous analysis, the duo underscores the SEC's cautious approach in this rapidly evolving sector.
领英推荐
SEC Chair Announces Revaluation of Spot Bitcoin ETFs Following Court Rulings
SEC Chair Gary Gensler, in a CNBC interview, revealed a shift in the agency's stance towards spot bitcoin ETF applications, influenced by recent court decisions . This reevaluation, prompted by a judicial directive to reconsider Grayscale Investments' proposal, marks a potential turning point for numerous pending applications from major firms like BlackRock and Fidelity, reflecting a nuanced approach to the evolving cryptocurrency landscape.
CFTC Proposes New Rule to Enhance Protection of Customer Funds Following the FTX collapse, the CFTC has moved to strengthen safeguards for investors in derivative markets. The proposed rule mandates derivatives clearing organizations (DCOs) to distinctly segregate customer funds, including those of retail investors, from their own assets. This initiative, aimed at preventing the mishandling of customer funds as seen in the FTX case, has garnered mixed votes from CFTC commissioners, with a public commenting phase next in line. The rule aims to mitigate risks and enhance corporate governance in derivative trading, addressing gaps in existing regulatory frameworks.
Major Hack on NFT Trader Platform Results in Loss of High-Value NFTs NFT Trader, a peer-to-peer trading platform, confirmed the theft of millions of dollars' worth of prominent NFTs, encompassing Bored Ape and Mutant Ape Yacht Club tokens, among others. The hack, exploiting old smart contracts, prompted an urgent call for users to revoke previous permissions. While the platform has updated its contracts to close a reentrancy vulnerability, the main attacker's blockchain message and erratic actions, including ransoms and partial refunds, add complexity to the aftermath of this high-profile digital asset heist.
RAIN NEWS?
Rain Introduces Instant Funding and Withdrawal Services for Virtual Assets in UAE
Rain, catering to both individual and institutional clients, now offers instant funding and withdrawal services for virtual assets in the UAE. Partnered with a local bank, Rain ensures seamless financial transactions for its users. As a fully licensed and regulated entity, it provides a secure and efficient platform for digital asset management. Interested parties can sign up at rain.com/en-ae/signup to access these innovative services. Check out all the benefits of Rain in the UAE.?
Spotlight article:
BlackRock's Spot Bitcoin ETF Application has the SEC 'Backed into a Corner'
Click to here and watch the full video!