Headline
▌GeminiTrust: Genesis is seeking bankruptcy court authorization to transfer its holdings in GBTC, ETHE, ETCG Monetizing Equity
GeminiTrust said on social media that late yesterday, Genesis filed a motion to authorize the sale of trust assets. This is an important step following the approval of GBTC as an ETP on January 10. As detailed in the motion, Genesis is seeking authorization from the bankruptcy court to monetize its interests in GBTC, Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Classic Trust (ETCG).
To facilitate the upcoming distribution to small profit users (which will only be possible once the plan is confirmed), the motion also seeks to authorize Gemini to transfer the initial collateral it holds (30,905,782 shares of GBTC) Monetize to benefit users who make small profits. Genesis has requested an expedited hearing on the motion on February 8, 2024 at 11 a.m. ET.
▌The Vice President of El Salvador: No intention to revoke the decision to make BTC a legal tender
Despite the international The IMF has repeatedly called on El Salvador to abandon cryptocurrencies as legal tender, but the country has reiterated its commitment to accepting Bitcoin. El Salvador's Vice President Félix Ulloa told Reuters on Wednesday that Bitcoin will remain a key player in El Salvador during President Nayib Bukele's second term, even if the International Monetary Fund (IMF) again urges the country to abandon the legal status of cryptocurrencies. of fiat currencies tendered during billion dollar loan negotiations. El Salvador will hold general elections on February 4 to elect the president, vice president and all 60 representatives of the legislative assembly. Ulloa confirmed that the El Salvadoran government has no intention of reversing BTC’s decision to become legal tender. He pointed to the U.S. Securities and Exchange Commission’s (SEC) recent approval of a spot Bitcoin ETF as further strengthening its resolve.
Quotes
As of press time, according to coinmarketcap data:
The recent transaction price of BTC was 42,984 US dollars. Intraday increase or decrease-0.32%;
ETH’s recent transaction price was US$2,295.47, with intraday changes-0.39%;
BNB’s recent transaction price was US$199.6, with intraday changes -0.23 %;
The recent transaction price of 0.42%;
DOGE’s recent transaction price was US$0.07867, with intraday gains and losses-0.51%;
ADA’s recent transaction price was US$0.5109, with intraday gains and losses-0.99%;
SOL’s recent transaction price was US$97.91, rising during the day Decline-0.07% .
Policy
▌Former SEC official: Every member of FTX team is capable Buy a new beach house in 2024
Former SEC official John Reed Stark says every FTX customer deserves a “thank you” from members of the defunct exchange’s legal bankruptcy team letter. His sarcastic remarks were due to FTX’s exorbitant profits during the bankruptcy proceedings.
Stark said that every member of the FTX team will be able to purchase a new beach house in 2024.
▌Genesis has filed a new motion with the court seeking authorization to sell approximately $1.6 billion in trust assets
Genesis Global Capital has filed a new motion with the U.S. Bankruptcy Court for the Southern District of New York seeking authorization to sell approximately $1.6 billion in trust assets.
According to this document, assets held by Genesis, a subsidiary of Digital Currency Group, include shares in the Grayscale Bitcoin Trust Fund worth approximately $1.4 billion and Grayscale Ethereum Trust Fund worth approximately $165 million. shares as well as shares in the Grayscale Ethereum Classic Trust valued at approximately $38 million.
The company also filed a separate motion requesting a shortened deadline to hear the sale motion at the Bankruptcy Court’s next hearing on Thursday, February 8. The company is also seeking legal compensation for 31,180,804 additional shares (valued at approximately $1.2 billion) that were pledged to Gemini but never transferred; the ownership of these shares is currently an unresolved issue in court.
▌U.S. President Joe Biden’s administration has issued an “emergency data collection request” related to the power consumption of Bitcoin mining rigs
Bitcoin mining is under renewed scrutiny as U.S. regulators analyze its power consumption. U.S. President Joe Biden's administration has issued an "urgent collection request" related to the power consumption of Bitcoin mining rigs. The move sparked an uproar as cryptocurrency enthusiasts consider Bitcoin's decision to counter the U.S. currency conflict.
▌The U.S. Department of Justice charges two people with allegedly engaging in crypto mining at a school< /p>
The U.S. Department of Justice (DoJ) has charged two senior staff members (Chief Business Officer Jeffrey Menge and IT Director Eric Drabert) of the Patterson Joint Unified School District in California with conducting crypto mining operations at 10 schools in the district. mining operations, but did not disclose the types of cryptocurrencies mined.
Blockchain Applications
▌Wirex decentralized payment network "WPay" is open in the early stage Access
Web3 application Wirex announces the launch of early access to the decentralized payment network "WPay", aiming to solve "issues related to intermediaries, escrow risks, and slow and expensive settlements" , it is reported that Wirex’s WPay self-custody debit card will allow users to “consume their digital assets in the traditional economy through the WPay network.”
Cryptocurrencies
▌FTX has submitted to sell nearly 8% of its holdings in Anthropic Motion for shares
FTX is preparing to sell its most important remaining non-current asset, its 8% stake in artificial intelligence startup Anthropic, which it acquired from the company in October 2021 Former FTX CEO Sam Bankman-Fried secured $500 million in investment.
The company, currently led by CEO John Ray III, has filed a motion asking a judge to approve the sale of FTX’s stake in Anthropic. The company also filed a separate motion to shorten the consideration period for the sale motion so that it can be heard at the Bankruptcy Court's next hearing on February 22. The deadline for objections to the motion is February 15.
The document disclosed the specific size of FTX’s stake in Anthropic, which was 7.84%, and listed two main procedures for selling the shares: auction or private sale. FTX's lawyers withheld the price they sought for the Anthropic shares, reasoning: "Public reference prices could adversely affect the Debtors' objective of obtaining higher and better offers for the Anthropic shares."
▌LPL Financial plans to complete due diligence on Bitcoin ETF within three months
According to Bloomberg, the United States Companies such as LPL Financial Holdings, one of the largest independent brokers, are currently reviewing the recently approved BTC ETF to decide whether to offer a Bitcoin ETF to the nearly 19,000 independent financial advisors overseeing $1.4 trillion in assets.
We just want to see how they work in the market, said Rob Pettman, vice president of wealth management solutions at LPL Financial. Due diligence is a thorough analysis performed before making a decision. It involves carefully checking all the facts, understanding the risks and opportunities, and making sure everything is as it appears before investing money or resources.
LPL Financial plans to complete due diligence on the Bitcoin ETF within three months. A key point in the evaluation is that if an ETF underperforms and fails to accumulate significant assets, it risks being closed.
▌He Yi: In OPBNB, 950,000 people are on the chain every day Active users only paid 5 BNB
Binance co-founder He Yi posted on the social platform that in OPBNB, 950,000 daily active users on the chain only paid 5 BNB, which is quite for about $1,500.
▌12 new wallets Spending 1.6 ETH to buy 24 million dogwifhat and making a profit of 770 ETH
Lookonchain monitoring data shows that 12 new wallets (insiders) only spent 1.6 ETH on dogwifhat ($3,694) ), making a profit of 770 ETH (USD 1.77 million). These wallets were created yesterday and purchased dogwifhat in the same block where the deployer opened the transaction. 12 minutes later other users started buying dogwifhat.
These 12 wallets spent 1.6 ETH ($3,694) to buy 24 million dogwifhat and sold 15.34 million dogwifhat for 771.86 ETH ($1.78 million).
They still have 8.65 million dogwifhat ($838,000) left.
Important economic developments
▌NorthEnd Private Wealth Team Advisor: The Fed is more likely to Monthly rate cut
Alex McGrath, adviser to NorthEnd Private Wealth Team, said: "I think we can officially say goodbye to the March rate cut - and it will probably be a May rate cut." Glenmede chief investment Official Jason Pride said: "It now seems that the possibility of an interest rate cut in March is getting smaller and smaller. The more likely trajectory of interest rate cuts this year is to cut interest rates 2-3 times starting around the summer."
Golden Encyclopedia
▌How Do Cryptocurrency Hedge Funds Work and Make Money?
Cryptocurrency hedge funds pool investor funds, charge various fees, and generate profits by professionally trading and managing a diversified cryptocurrency portfolio to obtain the most Good returns. Generally speaking, hedge funds operate as limited partnerships, professionally managed by fund managers, and raise capital from investors. However, participation in hedge funds, including those involving cryptocurrencies, is typically limited to high-net-worth individuals who can afford higher management fees and associated risks.
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.
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