RSS3 launches mainnet in the first quarter of this year, Binance will file a motion with the court

Toutiao

▌RSS3: Mainnet will be launched in the first quarter of this year< /strong>

The decentralized content distribution and social protocol RSS3 officially stated that it will launch the mainnet in the first quarter of 2024. The RSS3 main network adopts a two-layer structure: the data sub-layer (DSL), which will be composed of a large number of permissionless decentralized nodes for effective indexing and structured processing of open information; the value sub-layer (VSL), which uses an improved OP stack and CelestiaDA, for handling value and ownership derived from the data sublayer. Through the RSS3 mainnet, users can create private AI models in 15 minutes and circulate social content as assets.

▌Foreign media: Binance will file a motion with the court to dismiss the US SEC lawsuit

News on January 19, Binance is about to face off against the U.S. Securities and Exchange Commission (SEC) in court in Washington, with a hearing scheduled for January 19 focusing on Binance’s motion to dismiss the SEC’s lawsuit filed in June 2023. The SEC’s lawsuit made a series of accusations, including accusing Binance of artificially inflating trading volumes, misappropriating customer funds, failing to restrict U.S. customers from using its platform, and misleading investors in terms of market monitoring.

Quotes

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

BTC's recent transaction price was US$41,491, with intraday increases and decreases< strong>+0.51%;

ETH’s recent transaction price was $2,480.34, with intraday gains and losses< span style="color: rgb(0, 176, 80);">+0.49%;

BNB’s recent transaction price was US$314.14, with an intraday increase or decrease+1.19% strong>;

XRP’s recent transaction price was US$0.5409, with intraday gains and losses-1.60%;

DOGE’s latest transaction price was US$0.0783, intraday Increase or decrease+0.60%;

ADA's recent transaction price was US$0.5012, with an intraday increase or decrease+0.25%;

SOL’s recent transaction price was US$92.34, with an intraday increase or decrease+1.94%.

Policy

▌US Third Circuit The court ordered the appointment of an independent examiner in the FTX bankruptcy case

According to Bloomberg news, the U.S. Third Circuit Court ordered the appointment of an independent examiner in the FTX bankruptcy case. A federal appeals court judge has ruled that an outside investigation into FTX Group is mandatory under U.S. bankruptcy law, overturning a Delaware judge's initial order rejecting an independent examiner. The US Trustee, the federal regulator responsible for monitoring corporate bankruptcies, also believes that an independent investigation is necessary to give the public a more complete understanding of FTX’s bankruptcy.

▌Hong Kong Securities and Futures Commission: If the history of traditional ETFs is a guide, the approval process for spot Bitcoin ETFs may require Weeks to months

Samsung Asset Management said it would not rule out exploring the possibility of launching a spot ETF. CSOP Asset Management did not respond to a request for comment. Digital asset custody company Aegis Custody is in talks with four asset managers to list spot crypto products in Hong Kong, CEO Serra Wei said. Hong Kong’s regulatory requirements may result in issuers charging higher fees compared to the low management fees of many new U.S. spot Bitcoin ETFs. Hong Kong's Securities and Futures Commission said it would not make any comment beyond the guidance issued in December. If the history of traditional ETFs is any guide, the approval process for such products can take weeks to months.

Blockchain Application

▌Galaxy researcher: The probability of Dencun being deployed on the Ethereum mainnet at the end of March is 60%

Galaxy researcher Christine Kim wrote that in view of the Goerli fork this week Ethereum core developers are enthusiastic about releasing Dencun. The probability of Dencun being deployed on the Ethereum mainnet by the end of March is about 60%, while the possibility of Ethereum mainnet being upgraded earlier by the end of February is unlikely, about 30%. In addition, if developers discover unexpected and serious bugs in Sepolia or Holesky's Dencun upgrade, Dencun may still be delayed to April or later.

Cryptocurrency

▌ The average daily trading volume of the nine spot Bitcoin ETFs is in the top 1% of all ETFs

Bloomberg analyst Eric Balchunas pointed out that as a group, the nine The spot Bitcoin ETF has an average daily trading volume of $120 million, putting it in the top 1% of all ETFs (including GBTC), and even when calculated individually, both FBTC and IBIT are in the top 2%.   Analysts commented: “The average operating duration of the top 2% of ETFs in daily trading volume has been 14 years. It is crazy that a spot Bitcoin ETF product can achieve this kind of performance in a week.”

▌The U.S. SEC has opened a comment period on the proposal to conduct options trading based on the BlackRock Spot Bitcoin ETF

According to a public filing, the U.S. Securities and Exchange Commission (SEC) has opened a comment period on Nasdaq’s proposal to allow options trading based on the BlackRock Spot Bitcoin ETF. The comment period will continue. 21 days. BlackRock just received SEC approval to list its spot Bitcoin ETF (iShares Bitcoin Trust) last week. Bloomberg Intelligence ETF research analyst James Seyffart said that the SEC acted faster than normal on the proposal.

▌Franklin Templeton CEO: Investor Comparison There is a huge demand for Bitcoin

Franklin Templeton CEO Jenny Johnson said that she has seen a huge demand for Bitcoin from investors in her spot Bitcoin ETF. There are many reasons for this, such as the growing use of Bitcoin in payment scenarios, she said: “Bitcoin is almost considered an insurance or safe investment component, but I also think the next real opportunity to drive the blockchain world is very important".

▌South Korean President’s Office urges financial regulation Institutions reconsider possibility of spot Bitcoin ETF

South Korea’s presidential office has urged financial regulators to reconsider the possibility of approving a local spot Bitcoin ETF, an official from South Korea’s presidential office said. Sung Tae-yoon, director of the Policy Office of the Presidential Office, said in a briefing on Thursday that the South Korean government is exploring ways to incorporate foreign affairs into local regulations, which may indicate that the country is open to launching a spot crypto ETF.

Important Economic Updates

▌U.S. short-term interest rate futures traders are betting that the Fed will not start cutting interest rates before the May meeting

U.S. short-term interest rate futures traders are now betting that the Fed will not start cutting interest rates before the May meeting. Rate cuts will not begin before the March meeting; CME "Fed Watch" data shows that the probability of the Fed cutting interest rates in March has dropped to below 50%.

Golden Encyclopedia

▌ Why Bitcoin spot ETF is so important

ETFs legitimize Bitcoin and allow institutions to hold Bitcoin through their existing services. Financial advisors can now easily include Bitcoin in their investment portfolios. Since Bitcoin has little correlation to many traditional assets and is highly volatile, adding an ETF to your portfolio (say, 1%) will provide you with a better performing Sharpe Ratio. It doesn't take much thinking, adding ETFs to your long-term asset management strategy is a smart move.

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.