LianGuai Morning News | Fidelity submits Ethereum ETF application. SlowMist Trader Joe frontend contract address compromised.

LianGuai Morning News | Fidelity files application for Ethereum ETF. SlowMist discovers compromise of Trader Joe's frontend contract address.

Headlines

▌Fidelity submits application for Ethereum ETF

Bloomberg analyst James Seyffart stated on the X platform that Fidelity has submitted a 19b-4 filing for a physical Ethereum ETF, becoming the seventh applicant for a physical Ethereum ETF. Fidelity stated in the filing, “The approval of a physically-backed ETH ETP would represent a significant victory for protecting US investors in the cryptocurrency asset class.”

▌SlowMist: Trader Joe frontend tampered, contract address replaced with phishing address

DeFi protocol Trader Joe announced that they have received alerts about possible vulnerabilities in their frontend interface. Their team is currently conducting a thorough investigation. They strongly advise all users to refrain from trading and executing any transactions on the Trader Joe DEX. Preliminary analysis by their team indicates potential vulnerabilities in the third-party analytics plugin used in their frontend, which was exploited by a malicious JavaScript code. Immediate action has been taken to remove the code, and their host remains secure with no other integrations affected. The frontend is currently closed. SlowMist founder Cosmos announced on the X platform that the Trader Joe frontend has been tampered with (currently inaccessible) and the contract address has been replaced with a phishing address.

• ChatGPT creator and OpenAI CEO fired, kicked out of the board!
• Fidelity Wants to Take ETH Investing to the Moon with Ethereum ETF
• From Altman to Murati OpenAI shakes things up! Sam Altman out, CTO Mira Murati takes the reins as interim CEO

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Market

According to coinmarketcap data at the time of writing:

BTC recent trading price is $36,421, with a daily change of +0.21%;

ETH recent trading price is $1,953.99, with a daily change of -1.15%;

BNB recent trading price is $243.72, with a daily change of -0.33%;

XRP recent trading price is $0.6097, with a daily change of -1.34%;

DOGE recent trading price is $0.08527, with a daily change of +6.27%;

ADA recent trading price is $0.3636, with a daily change of -2.87%;

SOL recent trading price is $57.13, with a daily change of -3.72%.

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Policies

▌SEC delays decision on Franklin Templeton’s physically-backed Bitcoin ETF

The SEC has postponed its decision on Franklin Templeton’s physically-backed Bitcoin ETF. As of now, all deadlines for the decision on physically-backed Bitcoin ETFs have been moved to 2024.

▌SEC delays decision on Global X physically-backed Bitcoin ETF until February next year

According to a new regulatory filing, the U.S. Securities and Exchange Commission has delayed its decision on the application for Global X’s physically-backed Bitcoin ETF. The agency’s new deadline for action on Global X’s application is now in February next year, with the previous deadline being November 21st. This week, the SEC is still waiting to take action on a physically-backed ETF application from fund giant Franklin Templeton.

▌Japan’s Financial Services Agency Approves Launch of ODX Digital Securities Exchange START

The Osaka Digital Exchange (ODX) plans to launch a secondary market for digital securities this year. Yesterday, Japan’s Financial Services Agency approved ODX to launch its self-operated trading system for security tokens (ST PTS). This is similar to the Alternative Trading System (ATS) license in the United States. START is the new brand for the security token market. ODX, founded by SBI, was launched last year and trades traditional securities. Last week, ODX announced a funding round with new investors including the Chicago Board Options Exchange (Cboe) and market makers Virtu and Optiver. Other existing investors include Sumitomo Mitsui Banking Corporation, Nomura Securities, and Daiwa Securities.

▌Ukraine Proposes Taxation on Bitcoin Transactions

On November 17, the Ukrainian Ministry of Finance registered an alternative draft law on the taxation of cryptocurrency transactions. According to the proposal, individuals would be subject to a tax rate of 5% for the first three years after the law comes into effect, 9% for the following five years, and 18% after eight years. Legal entities would be exempt from value-added tax, except for tokenized asset transactions. Residents of Diya.City can choose between an 18% income tax or a 9% capital extraction tax. Additionally, the draft law defines the legal status of virtual assets and aligns them with FATF and MiCA standards.

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Blockchain Applications

▌BIS Report: Privacy Should Be Seen as a Key Component in CBDC Design

A report by the Bank for International Settlements (BIS) has found that privacy should be seen as a key component in the design of central bank digital currencies (CBDCs). The BIS report surveyed 3,500 individuals to understand how their willingness to use CBDCs as a means of payment would vary based on the level of privacy. The report found that privacy increased participants’ willingness to use CBDCs by 60% when purchasing privacy-sensitive products. The report states, “Our findings suggest that CBDCs are more likely to replace existing payment instruments provided by the private sector, including commercial bank accounts, as long as their design offers sufficient anonymity and privacy while complying with AML/CFT regulations against money laundering and/or the financing of terrorism.”

▌Evmos Plans to Introduce ERC-20 Compatibility for Cosmos Tokens with a Focus on EVM Support

Evmos plans to introduce ERC-20 compatibility for Cosmos tokens with a focus on EVM support. Altiplanic, the core development company behind the Layer1 blockchain Evmos, is developing a software mechanism to facilitate the usage of various assets in the Cosmos ecosystem as ERC-20 tokens. This integration will allow Cosmos tokens (which are not compatible with the ERC-20 standard) to be directly used in dapps on Evmos EVM, eliminating the need for token wrapping and overcoming certain technical issues on the network. The mainnet of this mechanism is expected to be released by the end of this year, introducing a unified token model for Evmos that is compatible with both native tokens and ERC-20 tokens.

▌Neon EVM: Supports Multiple Token Payments for Gas Fees

Neon EVM, the Ethereum Virtual Machine that expands Ethereum applications on Solana, announced its testnet support for multiple tokens as payment for gas fees on EthGlobal. It is set to launch on the mainnet before the end of this year.

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Cryptocurrency

▌1inch Investment Fund Buys Back 420,828 UNI at $5.064 5 Hours Ago

According to Spot On Chain, following a price drop in 1inch, the 1inch Investment Fund quickly bought back 420,828 UNI at the lower average price of $5.064 using the 2.13 million USDC from the previous sale. The profit amounted to only about $20,000. Yesterday, it was reported that the address (0x225d) labeled as the 1inch Investment Fund swapped all its 416,924 UNI for 2.13 million USDC at an average selling price of $5.11 per token.

▌WisdomTree Adds Coinbase as Bitcoin ETF Custodian

New York-based asset management company WisdomTree submitted a revised application for a physically-backed Bitcoin exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC) yesterday. The firm, which manages nearly $97 billion in assets, stated in the filing that Coinbase will serve as the custodian for the product. As the custodian, Coinbase will be responsible for storing the digital assets that back the fund’s shares. Monitoring and sharing refer to activities aimed at reducing market manipulation risks, including the sharing of trade and settlement activities, as well as customer identity information. The SEC must approve or reject WisdomTree’s Bitcoin Trust by January 15.

▌USDC Treasury Mints 50 Million USDC

According to Whale Alert, at 07:25:11 UTC today, the USDC Treasury minted 50,000,000 USDC.

▌BIT Mining Q3 Report: Revenue of $77 Million, Total Cryptocurrency Assets of $15.3 Million

BIT Mining (NYSE: BTCM) released its unaudited financial results for the third quarter ending September 30, 2023. The company reported revenue of $77 million for Q3, a significant decrease of $20 million from the third quarter of 2022 ($97 million) but an increase of $2.9 million from Q2 2023 ($74.1 million). The company had a cryptocurrency asset impairment of $1.2 million in Q3 2023, with a net gain of $1.8 million from the sale of cryptocurrency assets. As of September 30, 2023, the company’s total cryptocurrency assets amounted to $15.3 million, equivalent to 254 BTC, 77.3 million DOGE, 15,974 LTC, and various other cryptocurrency assets generated from its mining pool and cryptocurrency mining operations.

▌BlockFi Reminds Users to Submit Withdrawal Requests before Wallet Withdrawal Window Closes

BlockFi announced on X-platform that the wallet withdrawal window will close on December 31, 2023, at 11:59 PM UTC (January 1, 2024, at 7:59 AM Beijing time). Users are advised to submit withdrawal requests before the window closes to receive their cryptocurrency funds as soon as possible. Identity verification information requests must be received by January 12, 2024, at 11:59 PM UTC (January 13, 2024, at 7:59 AM Beijing time).

▌Deribit Bitcoin Options Open Interest Reaches $15 Billion, a New Record in the Past 24 Hours

According to Deribit’s data, the open interest of Bitcoin options on Deribit has reached a historic high of over $15 billion in the past 24 hours. The increase in open interest indicates higher liquidity and more market participants. Luuk Strijers, Chief Commercial Officer of Deribit, stated, “The total open interest in Bitcoin options has surpassed Bitcoin futures for the first time, marking the maturity and growing importance of the market.” While higher open interest may indicate greater interest in a specific asset and increased market activity, it does not provide information about market direction or general sentiment, whether bullish or bearish.

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Important Economic Developments

▌Xi Jinping: Maintain Stable and Smooth Global Industrial and Supply Chains, Oppose Politicizing, Weaponizing, and Over-Securitizing Economic and Trade Issues

On November 17, local time, President Xi Jinping delivered an important speech at the 30th APEC Informal Leaders’ Meeting. Xi Jinping pointed out the importance of an open orientation. The experience of Asia-Pacific development tells us that openness leads to prosperity, while closure leads to decline. We must uphold the freedom and openness of trade and investment, support and strengthen the multilateral trading system with the World Trade Organization at its core, maintain stable and smooth global industrial and supply chains, and oppose politicizing, weaponizing, and over-securitizing economic and trade issues. We must steadfastly promote regional economic integration, accelerate the process of establishing an Asia-Pacific Free Trade Area, fully implement the APEC Connectivity Blueprint, and share the opportunities for open regional development.

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LianGuai Encyclopedia

▌Metadata in Blockchain Trading

The additional data or information that can be attached to cryptographic transactions on a blockchain is known as metadata in blockchain trading. Metadata allows users to add additional information or context to their transactions. There are mainly two types of metadata in blockchain trading: on-chain metadata and off-chain metadata.

Disclaimer: LianGuai, as a blockchain information platform, provides articles for informational purposes only and does not serve as actual investment advice. Please establish the correct investment mindset and always enhance risk awareness.

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