Weekly Update: 04 Jan 2024
1) BlackRock names Jane Street, JPMorgan as authorized participants for its proposed bitcoin ETF [Blockworks]
– Authorized participants, or APs, are entities allowed to create and redeem shares of an ETF.
2) Hong Kong to create regulatory regime for stablecoin issuers[Blockworks]
– Hong Kong is beginning a consultation period on a new regulatory regime for stablecoin issuers in the city, the Hong Kong Monetary Authority (HKMA) announced Wednesday.
3) Chinese Web3 VC to launch $10B accelerator fund [Cointelegraph]
– During the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference, Chinese venture capital (VC) firm GBA Capital announced a $10-billion pledge to establish a Web3 fund.
4) CBOE Digital president says a spot bitcoin ETF approval will promote derivatives growth [Blockworks]
– CBOE Digital President John Palmer says that the potential approval for a spot bitcoin ETF could broaden the ecosystem for institutions and retail.
5) Grant Thornton: Family offices are warming up to blockchain and crypto [Bitcoin.com]
– More than half of the family offices consulted have already invested in digital assets, with 38% allocating less than 1% of their portfolio to these technologies.
6) Orbit chain loses $81M in cross-chain bridge exploit [CoinDesk]
– Orbit Chain, a platform that communicates and transacts with various blockchains, has lost $81 million after hackers exploited the platform’s cross-chain bridge.
7) South Korean blockchain Klaytn onboards gold RWA DeFi platform[The Block]
– Klaytn said the platform, launched alongside an accompanying cryptocurrency, provides what it claims to be the first tokenized gold available on DeFi outside of the Ethereum ecosystem.
8) Terraform Labs’ LUNA and MIR tokens are securities, judge rules [CoinDesk]
– A U.S. federal judge ruled on Thursday that Terraform Labs, creator of the ill-fated Terra and Luna cryptocurrencies, violated federal securities laws when it sold its cryptocurrencies to the public.
