tl;dr
1. It is being reported that Grayscale is in productive talk with the SEC. Of course, the only thing on the table there is the conversion of the Grayscale Bitcoin Trust to a Bitcoin Spot ETF. I am not sure of the timing, but it is said there is an 8-day windows for Spot ET approvals starting today. ...
1. It is being reported that Grayscale is in productive talk with the SEC. Of course, the only thing on the table there is the conversion of the Grayscale Bitcoin Trust to a Bitcoin Spot ETF. I am not sure of the timing, but it is said there is an 8-day windows for Spot ET approvals starting today. Something else to be considered is that GBTC is currently at a 2-year discount. There has also been a nice spike in BTC. There are 2 ways you can get in on the action.
2. There are serious talks going on that could see FTX rise from the grave. Surprisingly, the path forward could be through a former President of the New York Stock Exchange, Tom Farley. More importantly, it is said that Gary Gensler would give this resurrection scenario a nod. I know people may be looking at this news with skepticism, but imagine the connections he has, not to mention his operational experience. FTX could return stronger than ever and challenge Coinbase's dominance in the US market.
3. Cathie Wood's ARK Invest seems to be an very retail focused buying spree. Apparently, they just snatched up $9.5M in HOOD just a day after they announced UK/EU expansion plans. This is a huge focus on the retail space sa she just snatched up some shares in Block, too.
4. Trust Wallet, owned by Binance, just announced Wallet-as-a-Service technology that would enable businesses to quickly offer Web3 services. Again a strong focus on tools to enable retail adoption.
5. I keep telling people to pay attention to VeChain. They have just partnered with Coinbase to introduce a new Learn program focused on their enterprise blockchain VeChainThor. They are expected to onboard as many as 1M Coinbase users through the program. This is a huge step for VeChain and is on the heels of having both of their coins, VET and VTHO listed on Coinbase.
6. In another major interoperability partnership, Polygon and Near Foundation have come together bridge the gap between WebAssembly (Wasm) blockchain and the Ethereum ecosystem. That is a major move and I am expecting interoperability projects to pick up. More importantly, I am expecting the benefits of interoperability to gain in increasing adoption, especially in the gaming space.
7. In a major announcement by one of the Shibarium techs, LUCIE, they are all about giving power to the people. The 2024/2025 roadmap include active development of processes that will prohibit the ecosystem being controlled by only a handful of people, spreading of decision-making across the community, transparent governance and sustainable growth through continued decentralization efforts. Go Shiba Army!
8. On the heels of their CBDC pilot program with other partners, HSBC partners with Ripple-owned Metaco (snatched up back in September) to offer a tokenized securities custody service as a part of offering overarching digital assets custody services. Again, this is placing more focus on retail investment services along with institutional services. With the latest moves I think HSBC is doing exactly what I said banks need to do and that is to redefine what a bank is and what a bank does.
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