Selected News:

1. Aptos responds to mainnet outage: caused by non-deterministic code, repair program has been deployed;

2. Tether CTO: The RGB protocol represents the "best opportunity" for issuing stablecoins on Bitcoin.

3. Bloomberg analyst: Grayscale has submitted updated documents for GBTC, preparing for the conversion to a spot ETF.

4. Runa Digital Assets raised $42.5 million and plans to invest in cryptocurrencies and digital assets.

5. The US Federal Court is expected to make a final ruling on the Grayscale vs. US SEC case as early as this Friday.

Project Updates

Tether CTO: RGB protocol represents the "best opportunity" for issuing stablecoins on Bitcoin

Tether CTO Paolo Ardoino said in an interview with The Block that the RGB protocol represents the "best opportunity" for issuing stablecoins on Bitcoin. Ardoino said that many well-known figures in the Bitcoin community unanimously support RGB, "We believe that RGB integrates all the right elements and can become a legitimate successor to Omni."

The RGB protocol aims to bring a new era for digital assets, smart contracts, and digital rights, and has received widespread support from major industry participants. Tether previously stated that once USDT is launched on RGB, the world will witness a powerful and scalable USDT on top of the Bitcoin layer.

Polygon proposes to create a governance committee, with the first nominated members including Coinbase and Ethereum Foundation members.

Polygon released a proposal on Thursday, calling for the creation of the "Polygon Protocol Committee" to promote a more decentralized governance approach. The proposal also appointed 13 initial members, including members from Coinbase and the Ethereum Foundation.

stated in a press release that the proposal named PIP 29 will be responsible for "making limited changes to the system smart contracts that implement existing and future Polygon protocols on Ethereum." In addition, the committee will also "implement community-led processes to initiate future upgrades, including the upgrades proposed in the Polygon 2.0 frontier phase."

The first batch of 13 members includes protocol expert Viktor Bunin from Coinbase; Ethereum Foundation researcher Justin Drake; Zaki Manian, co-founder of Sommelier Finance; Jordi Baylina, technical director of Polygon Labs, and others.

Cryptocurrency mining company BitDeer announces a new $2 million stock buyback plan

Bitdeer Technology Group, a cryptocurrency mining company, announced today that its board of directors has approved a new stock repurchase plan. Under the plan, the company may repurchase up to $2,000,000 worth of its Class A common stock ("Shares").

According to the share repurchase plan, Bitdeer can purchase its shares through various means, including public market transactions, private negotiations, any combination thereof, or other legally permissible means. The company may conduct repurchase transactions in accordance with the amended Securities Exchange Act of 1934, Rule 10b5-1 and Rule 10b-18. The number and timing of share repurchases will depend on various factors, including but not limited to price, trading volume, general market conditions, as well as Bitdeer's operational funding needs, general business conditions, and other factors.

Genesis funds are concentrated in Alameda and there is insufficient loan guarantee, Gemini is aware but did not disclose to investors

The Attorney General of New York, Letitia James, has filed a lawsuit against the cryptocurrency exchange platform Gemini, the cryptocurrency lending company Genesis, and their parent company DCG, as well as two executives (former CEO of Genesis, Michael Moro, and CEO of DCG, Barry Silbert).

The indictment alleges that Gemini knew that Genesis' loan guarantees were insufficient and was highly concentrated in Alameda at one point, but did not disclose this information to investors. James stated, "My office will continue to work to stop fraudulent cryptocurrency companies and push for stricter regulations to protect all investors."

Bloomberg analyst: Grayscale has submitted updated documents for GBTC, preparing for the conversion of spot ETF

Bloomberg ETF analyst James Seyffart stated on social media that Grayscale has submitted updated documents for GBTC, "which is basically registering the fund under the Securities Act of 1933."

Seyffart said that the submission of this document is a necessary step for GBTC to convert to an ETF. This does not indicate a timeline, but it is definitely a positive signal.

Bloomberg analyst: BlackRock updates its application for a Bitcoin ETF

Bloomberg ETF analyst James Seyffart stated on social media that BlackRock has updated its application for a Bitcoin ETF. "This may be BlackRock's response to the SEC's comments, indicating that the ETF issuer is negotiating with the SEC," he said.

Circle launches two Web3 service products to simplify blockchain interaction for developers and enterprisesAccording to official sources, Circle has launched two Web3 service products: Gas Station and Smart Contract Platform. These two products aim to provide solutions for developers and enterprises to simplify blockchain interactions.

Gas Station can help developers integrate Circle's programmable wallet into their applications, allowing their users to sponsor gas fees and avoid the hassle of purchasing native tokens for gas management.

美 SEC 撤销针对 Ripple CEO 和执行主席的所有指控 Translation:

The US SEC drops all charges against Ripple CEO and executive chairmanAccording to Businesswire, Ripple announced today that the US Securities and Exchange Commission (SEC) has dropped all charges against its CEO Brad Garlinghouse and Executive Chairman Chris Larsen.

This victory marks the third consecutive win for Garlinghouse, Larsen, and Ripple, following the announcement in July 2023 that "XRP itself is not a security" and the subsequent federal judge's decision to dismiss the SEC's appeal in October.

Morgan Stanley expects spot Bitcoin ETF to be approved "in a few months"

Morgan Stanley analysts said that because the US SEC did not appeal the recent lawsuit ruling against Grayscale, it is expected that the SEC may approve multiple spot Bitcoin ETF applications "within a few months".

Analysts believe that the spot Bitcoin ETF is most likely to be approved before January 10, 2024, which is the final deadline for the applications submitted by Ark Invest and 21Shares.

Federal Reserve megaphone: Powell hints that the pause may be longer

The Federal Reserve's megaphone Nick Timiraos has recently commented on Fed Chairman Powell's speech. Powell hinted that he was pleased with the decline in summer inflation and that the Fed is unlikely to raise interest rates again unless there is clear evidence that the strengthening of economic activity will jeopardize progress on inflation.

The US Federal Court may make a final ruling on the Grayscale vs. US SEC case as early as this Friday.

According to CoinDesk, the US Federal Court is preparing to officially rule in favor of Grayscale in its dispute with the US SEC over a bitcoin spot ETF. Under the processing procedure of such cases, after the SEC decided not to appeal the court's ruling last week, the Washington DC Circuit Court of Appeals has seven days to end the case. The deadline is this Friday, and the court can choose to terminate the case without comment, or issue further instructions to the SEC on the next steps.

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