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More →Bitwise Chief Investment Officer: Stablecoins and Crypto Exchanges Benefit from the Bill Being Blocked
Bitwise Chief Investment Officer Matt Hougan said in a memo that after the Clarity Act failed to advance in the U.S. Senate, stablecoins, existing crypto exchanges, tokenization platforms, and tokens that use protocol revenue for buybacks actually benefited. He believes that the bill's setback preserved room for exchanges to offer stablecoin rewards and also allowed existing platforms such as Coinbase and Kraken to maintain advantages in licensing and business structure. Regulators subsequently pushed forward a pilot for tokenized stock trading and clarified issues related to token buybacks for functional networks, providing support for the other two types of businesses. However, Hougan pointed out that these benefits depend on regulatory action, and future changes in government could still bring policy shifts.
Yzi Labs-backed on-chain trading terminal Genius announces the end of its Season 2 campaign.
According to news from Bijie, the on-chain trading terminal Genius, invested in by YZI Labs, has announced the end of its Season 2 campaign, distributing a total of 173 million GP points, corresponding to 6.055% of Genius's total supply. The remaining 0.945% will be automatically burned. The refund window will open at 11:00 AM Eastern Standard Time on October 6 and close at 11:00 AM on October 11. Users who apply for a refund can receive a full refund of the fees paid to Genius, but will lose the GP points earned in Season 2, and the corresponding Genius tokens will be permanently burned. Users who do not apply for a refund may, within another five-day window opening on October 12, choose to unlock their airdrop allocation immediately after an 85% reduction, or lock their tokens for 24 months to receive the full airdrop.
Russell 2000 asset managers net long 39,768 contracts
Bitcoin World US stock data: In Russell 2000 stock index futures, asset management institutions held a net long position of 39,768 contracts, accounting for 9.29% of open interest.
The American Airlines pilots' union opposes the sale of Spirit data to Google.
Coin World News: The American Airlines pilots' union this week voiced opposition to Spirit Airlines' sale of its data to Google, saying the move could endanger aviation safety. The union noted that the data being sold involves confidential employment and training information of more than 700 pilots who previously worked at Spirit, and could have an adverse impact on all commercial airlines. The union called on the court to reject the sale until the pilot data privacy issue is resolved. Google said the data being sold will be de-identified and will not include customer or credit card information.
The long-short account ratio for BTC contracts is 1.21.
CoinWorld data: The BTCUSDT 4-hour long-short account ratio is 1.21, with more net long accounts than net short accounts. Compared with the same-caliber snapshot 24 hours ago, it rose by 0.2415.
Crypto World Midday Brief | US Pushes Bitcoin Higher, Iranian Tanker Attack Triggers Sharp Volatility
1. US pushes Bitcoin higher, Iran's tanker attack triggers sharp volatility; 2. Banking group sues US regulators, demands granting of crypto trust charter; 3. SEC Chairman: proposed crypto custody rules will provide investment advisers and funds with a clear path to legally hold crypto; 4. SEC Chairman Atkins: proposed cryptocurrency custody framework will provide a compliant holding pathway; 5. Hester Peirce to leave SEC on October 2, ending her tenure at the center of US crypto policy; 6. US SEC proposes allowing investment advisers to self-custody client crypto assets; 7. US regulators seek to relax restrictions on crypto asset holdings for funds and advisers; 8. US securities regulator proposes new rules to simplify crypto asset holdings for funds and advisers; 9. New York and Wyoming reach joint regulatory agreement for crypto companies; 10. New York and Wyoming financial regulators reach agreement to jointly regulate crypto companies.
Bitwise: Failure to advance the Clarity Act benefits four types of crypto businesses.
Bitcoin.com reports: Bitwise Asset Management Chief Investment Officer Matt Hougan said that after the Senate did not advance the Clarity Act on September 15, stablecoin platforms retain room to offer balance rewards to customers, and exchanges such as Coinbase also continue to retain their existing state-level licenses and advantages in integrating trading and brokerage operations. The U.S. Securities and Exchange Commission (SEC) issued a five-year exemption for tokenized stock trading on September 17, allowing qualifying platforms to use permissioned automated market makers and liquidity pools for testing. Hougan listed Securitize, which provides services for tokenized funds from BlackRock, Apollo, and KKR, as a beneficiary. SEC staff updated token buyback guidance on September 28, stating that for networks that are already functional and do not have a centralized party, a buyback announcement does not constitute a promise on which purchasers rely for expected profits. The guidance does not have legal force.
Nasdaq advance-decline ratio at 0.6734
CoinWorld US stock data: The Nasdaq advance-decline ratio is 0.6734, with more decliners than advancers. Compared with the same-caliber snapshot 24 hours ago, it rose by 0.0019.
Nasdaq 100 index futures open interest is 283,950 contracts.
CoinWorld US stock data: Nasdaq 100 index futures open interest is 283,950 contracts.
USDT and USDC circulating supply change update
Bjie.com data: USDT circulating supply is 184.04 billion USD, up 28.5476 million USD from the previous day; USDC circulating supply is 74.262 billion USD, up 203 million USD from the previous day. Compared with the same-caliber snapshot 24 hours ago, it is down 0.04%.