U.S. ETF expert Nate Geraci posted on the The Bitcoin Spot ETF is expected to create new fund shares in the form of cash. In addition, Nate Geraci said that the product preparation work and back-end infrastructure related to the ETF listing have been completed, and the US SEC may approve the Bitcoin spot ETF at any time after January 2.

The memo shows that asset managers BlackRock and Fidelity, among others, have met with the U.S. SEC in the past few weeks to discuss the redemption process for Bitcoin spot ETFs. The issue discussed lies in three separate models (cash/in-kind/revised in-kind redemption model) to determine which entity must sell Bitcoin if an investor wants to redeem a share of the underlying asset. Vivian Fang, a professor of finance at Indiana University, said that from an investor's perspective, there is no difference between the cash model and the revised physical model. Regardless of which model is adopted, investors will still receive cash back when redeeming their shares. BlackRock’s revised model may be sufficient to meet the SEC’s requirements. The revised plan will not require asset management companies to immediately liquidate Bitcoin positions on demand, will reduce the impact of large-scale collective redemptions on ETFs, and will not generate capital gains. Allows for more flexibility in managing investment portfolios without taxation. (The Block) According to previous news, according to sources, discussions between the SEC and asset management companies applying for Bitcoin spot ETFs have gone deep into key technical details, including regulatory arrangements, subscription and redemption mechanisms. The people said they requested anonymity because the discussions were private. A spokesman said BlackRock did not respond to a request for comment, Invesco declined to comment, and Grayscale said it continued to engage constructively with the SEC.

Ripple CTO on Bitcoin (BTC): Will you 'Smash or HODL?' source: https://u.today/ripple-cto-triggers-unorthodox-bitcoin-btc-opinion-poll

According to Foresight News, during the 8th Hong Kong Fintech Week main forum, jointly organized by the Government of the Hong Kong Special Administrative Region of the People's Republic of China, InvestHK, and FintechHK, Hong Kong's Deputy Secretary for Financial Services and the Treasury, Chen Haolian, stated that the Treasury and the Monetary Authority will jointly issue consultation documents on legislative proposals for stablecoin regulation. The authorities will invite industry and public opinions, allowing sufficient time for consultation with the industry to understand the next steps in regulatory practices and development.

Lawyer Bill Morgan posted on the X platform that the chances of the US SEC winning the appeal against Ripple are very slim. Morgan argued that there was no clear appealable error other than “Ripple’s failure to meet at least two aspects of the Howey test with respect to its ODL sales,” while adding that the chances of the SEC successfully appealing Ripple’s case are very slim, approx. 3%. Morgan's prediction is based on another statistic shared by prominent attorney Jeremy Hogan, who shared government data on appeal success rates in different types of lawsuits. Data shows that the SEC has a 14.2% chance of winning its appeal against Ripple. (Cointelegraph) Previously, Ripple announced that the U.S. Securities and Exchange Commission (SEC) has dropped all charges against its CEO Brad Garlinghouse and Executive Chairman Chris Larsen. Ripple has had two previous successes, including a July 2023 court ruling declaring that "XRP itself is not a security," and an October federal judge's decision to reject the SEC's appeal request.

Investigator Jameson Lopp collected archived emails and other data from 2009 and 2010, indicating that the first BTC recipient, Hal Finney, could not be Satoshi Nakamoto. Lopp noted that Finney participated in the Santa Barbara running race, which started at 8 a.m. Pacific time and finished in 78 minutes. However, while the race was going on, Satoshi and Mike Hearn, one of the first Bitcoin developers, were exchanging emails. (Cointelegraph)

Odaily Planet Daily News Eetu Kuneinen, co-founder of the gold-backed stablecoin project DGC, said that CBDCs are centralized in nature because they will be issued by the government. Although they may be built on the blockchain, government control will bring certain Some dangers. "Let's say they don't like certain political opponents. They can freeze their assets with one click. So what gives us any sense of security that they won't use this? Or if they are a smaller country," Kuneinen said. , will they be pressured by a larger country to do this? We could create a framework where anyone who owns an asset and anyone who has access to certain technology can issue it. So we could have multiple banks issue the same stable Currency supervision.” Nikita Sachdev, founder of Luna Media Corp, believes that if the government has intended to freeze a person’s digital assets, they already have various means to do this. Furthermore, Sachdev believes that the government’s exploration of using blockchain for CBDC could be a step that could eventually lead to full decentralization and full Web3. She is also not in favor of CBDCs or stablecoins, as recent events such as the TerraUSD (UST) collapse have highlighted that stablecoins can also bring a series of risks to the world. Jorge Carrasco, managing director of FTI Consulting, said that CBDC and stablecoins may even become interoperable in the future. Carrasco said: “I think they will coexist. And, probably within a few years, we will see a multinational agency that will be responsible for CBDC and interoperability between them and make sure that no government can terminate or do something that affects the interests of the people. ." (Cointelegraph)

Odaily Planet Daily News Today’s crypto mining companies are increasingly focusing on alternative energy sources to reduce costs, ensure profits, and in some cases, reduce environmental impact. Steven Lubka, managing director of Swan Bitcoin, a financial services company focused on Bitcoin, said that while the average cost of producing one Bitcoin is about $26,000, mining companies focusing on renewable energy only cost $5,000 to $15,000. A spokesperson for U.S.-listed Bitcoin miner Riot Blockchain said that wind and solar energy generated in Texas help Riot ensure the lowest cost of cryptocurrency mining. He said: “As stated in our second quarter investor report, the cost for Riot to generate one Bitcoin is $8,389.” Kent Halliburton, president and chief operating officer of Sazmining, a Bitcoin mining service provider, said that the largest expenditure in mining has always been electricity: “Bitcoin mining companies will naturally be incentivized to find the lowest-cost electricity. Excess electricity has the lowest price. For renewable energy, Renewable energy, often with a surplus of electricity, makes it ideal for Bitcoin mining.” Halliburton added that independent data from the Bitcoin Mining Council shows that the Bitcoin network may indeed be one of the most sustainable industries. It is claimed that 59% of Bitcoin mining operations are carbon-free and growing at a rate of nearly 4.5% per year. (Cointelegraph)

Odaily Planet Daily News Lars Christensen, CEO of Switzerland's Seier Capital, said: "Europe 'has not been good at eating America's lunch for many years,' but a series of moves this summer show that clear regulation is a major competitive advantage. DealBook's Data shows that in 2022, Europe surpassed the United States to become the main birthplace of digital asset startups, with a total of 3,977 launches, compared with 3,357 in the United States. Even in the financing field, where the United States still dominates, the amount of venture capital investment in European startups has grown It fell 14%, compared with a 4% decline in the United States during the same period." Although the SEC is concerned that spot ETFs are vulnerable to market manipulation, Christensen said the debate is not as heated in Europe. (Decrypt)