Golden Finance Review: Major Events in the Crypto World During the 7-Day National Day

Author: Golden Finance

October 1

MicroStrategy's BTC holdings may surpass Grayscale

Currently, Grayscale GBTC and Mini BTC hold more than 254,000 bitcoins in total. But the recent financing has left MicroStrategy with more than $1 billion in funds that have not yet been put to use (or at least not announced). It is speculated that these funds will be used to purchase more Bitcoin, which will add thousands of Bitcoins to its balance sheet and make its holdings far greater than Grayscale.

BlackRock Completes Acquisition of GIP

BlackRock announced the successful completion of its acquisition of Global Infrastructure Partners (GIP). The merger will create an industry-leading infrastructure company in equity, debt and solutions, providing a wide range of infrastructure industry expertise and investment opportunities for developed and emerging markets.

Binance will introduce risk warning banners for tokens with major changes in token economic models

Binance announced on its official website that from October 1, 2024, Binance will introduce risk warning banners and pop-up notifications on the platform for tokens with major changes in token economic models and supply. To trade these tokens marked with major token economic model changes, users will first need to confirm the pop-up notification.  

October 2

Japan will evaluate cryptocurrency regulations and is expected to create conditions for the launch of cryptocurrency ETFs

Japan plans to evaluate the effectiveness of its cryptocurrency regulations. This review will be carried out in the next few months and may pave the way for the country to launch a cryptocurrency exchange-traded fund (ETF). An official from the Financial Services Agency (FSA) of Japan said that the review will measure whether the country's current approach to cryptocurrency regulation under the Payment Services Act (PSA) is sufficient.

Bitwise Files XRP ETF Application in Delaware

Bitwise filed an exchange-traded fund application in Delaware, and an application for the Bitwise XRP exchange-traded fund (ETF) appeared on the website of the Department of Corporations. According to the application, the Bitwise XRP ETF was established on September 30, 2024. The registered agent is listed as CSC Delaware Trust Company, headquartered in Wilmington, Delaware.  

Many people in Yunnan, China were sentenced for suspected pyramid selling for setting up a network platform to issue virtual currency

In February 2023, seven defendants jointly discussed building a network platform for investing in virtual currency. After reaching an agreement, they contacted a company in Sichuan, and the technical staff developed the "3M platform" to issue the token "Mavro Coin", which lured investors to join the project by investing in virtual currency to make high profits. After the platform was built and put into operation, the seven defendants actively promoted the investment platform for high profits, and promoted and developed downlines offline, and their downlines developed other downlines. According to the defendants' roles in the crime, development levels, confessions, and return of stolen money, they were sentenced to fixed-term imprisonment of two years and six months to one year and six months, suspended sentences, and fines.

October 3

Hong Kong Monetary Authority and Qatar Central Bank strengthen financial cooperation

The Hong Kong Monetary Authority and the Central Bank of Qatar held a bilateral meeting in Doha on October 3 (Doha time) to strengthen cooperation in the financial services sector between the two places. During the meeting, the HKMA and the Central Bank of Qatar discussed a number of cooperation plans to strengthen cooperation in the field of financial infrastructure, and shared experiences on capital market connectivity, sustainable finance, bond market development, digital assets and talent cultivation.

SEC Director Who Led Crypto Crackdown to Leave

Gurbir S. Grewal, Director of the U.S. Securities and Exchange Commission's Division of Enforcement, will leave the office after 21 years in office, officially stepping down on October 11. As the top cop of the security regulator, Gurbir S. Grewal has filed enforcement actions against several of the most prominent U.S. cryptocurrency companies, including Coinbase, Kraken, and Ripple Labs, as well as countless international entities such as Binance. During Gurbir S. Grewal's tenure, the agency approved more than 100 enforcement actions against cryptocurrency companies.

U.S. Federal Appeals Court Approves Legalization of Election Prediction Markets

Despite opposition from regulators, a U.S. federal appeals court approved derivatives exchange Kalshi's listing of event contracts related to U.S. election results in its ruling. The ruling paves the way for the operation of election prediction markets, potentially including Web3 platforms like Polymarket, to operate in the United States.  

October 4

SEC supports charges against Nvidia

The U.S. Department of Justice and the U.S. Securities and Exchange Commission (SEC) told the U.S. Supreme Court that a class action lawsuit by investors alleging that Nvidia misled cryptocurrency miners in its sales should be approved. Nvidia and investor groups have been in a legal battle since 2018, and the case has now reached the U.S. Supreme Court.

Tencent and France's Guillemot family consider acquiring Ubisoft

Sources said Tencent and France's Guillemot family considered acquiring Ubisoft. It is reported that the consideration of Ubisoft is in the early stages and may not lead to a transaction. People familiar with the matter said that one of the possibilities being discussed is to join forces to take the company private.  

Harris team actively seeks to engage with the crypto industry

Mavericks owner Mark Cuban said that Harris team actively seeks to engage with the crypto industry and listens carefully to industry opinions, which may indicate that Harris plans to distance himself from the Biden administration's crypto policy.

October 5

Coinbase will remove all unauthorized stablecoins from its EU exchange by the end of the year

Coinbase will remove all unauthorized stablecoins, including Tether, from its EU cryptocurrency exchange by the end of the year. The EU's new MiCA rules, which will fully take effect on December 31, require stablecoin issuers to hold an e-money authorization from a member state.

El Salvador's Bitcoin strategy faces IMF scrutiny

The International Monetary Fund (IMF) has asked the government of El Salvador to reduce the country's investment in Bitcoin, citing concerns about the country's Bitcoin legislation and the widespread use of cryptocurrencies.

Bitwise to launch Bitcoin and Treasury rotation strategy ETF

Bitwise announced the launch of the Bitwise Trendwise Bitcoin and Treasury Rotation Strategy ETF (BITC), which combines the Bitwise Bitcoin Strategy OptmRollETF (BITC), the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and EthEqWghStrETF (BTOP). Bitwise said in a statement that asset managers can rotate between 100% exposure to crypto futures contracts and 100% exposure to U.S. Treasuries based on market trends, thereby better managing volatility in the crypto market.

October 6

UAE will exempt cryptocurrency transfers and conversions from VAT

The United Arab Emirates' amendments to value-added tax (VAT) regulations will exempt the transfer and conversion of virtual assets, including cryptocurrencies. PwC said the new regulations include VAT exemptions for additional services, including the management of investment funds and the transfer and conversion of virtual assets.

Ro Khanna Becomes First US Democrat to Support Bitcoin Reserve Bill

U.S. Senator Cynthia Lummis announced legislation to create a strategic Bitcoin reserve at Bitcoin Nashville in July. Lummis' bill would purchase 1 million Bitcoins using existing funds from the Federal Reserve and the Treasury Department. On the same day that Lummis announced details of her bill, former President Donald Trump outlined his policy of establishing a "national Bitcoin reserve" and "never selling" the approximately 200,000 Bitcoins currently owned by the U.S. government. In a recent episode of the Unchained Podcast, Democratic Rep. Ro Khanna emphasized that the U.S. government should continue to use seized Bitcoin as a strategic reserve asset.

Bitcoin Core 28.0 has been officially released

Bitcoin Core 28.0 has been officially released, and this update introduces several new features, bug fixes, and performance improvements.

October 7

Musk forwarded Polymarket's US election prediction data

Musk forwarded the US election prediction data on the prediction market Polymarket on his personal social platform and said that Trump led Harris by 3% in the prediction market. Because real money is involved in the prediction market, these markets tend to be more accurate than polls.

Binance market share dropped sharply

According to the CCData report, Binance's market share fell to 36.6%, the lowest point in four years. Since March this year, Binance's market share has continued to decline as global regulators have stepped up their scrutiny.  

Humanode launches $10 million ecosystem financing plan

The $10 million plan by Humanode, a biometric blockchain project, aims to "support and cultivate its on-chain projects." The project will be on the Humanode EVM, using encrypted biometrics to resist Sybil."