Grayscale stated in its official blog that unlike mutual funds and many other ETFs, spot commodity ETFs (for example, gold) belong to the grantor trust. The tax regime for grantor trusts differs from that of mutual funds, where capital gains or losses may affect the remaining shareholders in the fund. Any Bitcoin spot ETF that qualifies as a grantor trust will not be at a tax disadvantage on redemptions due to changes in the book value of the ETF assets.

Crypto infrastructure startup Qredo’s cash shortage has forced it to shut down its hybrid exchange project Ankex, which launched in beta just a few months ago. Last November, Qredo incubated and launched Ankex, which is billed as a hybrid derivatives exchange that combines centralized and decentralized features. Former Genesis Global Capital CEO Michael Moro was hired in April to run Ankex.

Bloomberg analyst James Seyffart tweeted that First Trust submitted a Bitcoin "buffer ETF" application to the U.S. SEC. Such funds provide a degree of downside risk protection by sacrificing some upside gains. Analysts said they expect other companies entering the space to offer Bitcoin exposure in the coming weeks using unique and differentiated strategies.

Stani, the founder of Aava, stated on the X platform regarding the warning issued by Sushi CTO that the Interface on Aava has not been affected yet and all funds are safe. Until further clarification from Ledger, stay away from the dApp for now.

According to public regulatory documents, Invesco and Galaxy have submitted the third revised Bitcoin spot ETF prospectus (S-1 document) to the U.S. SEC. Bloomberg ETF analyst Eric Balchunas said that according to the just-updated S-1, Invesco committed to using only cash to create the ETF. There are considerable clues that the SEC will only approve ETFs created using cash in the first round (this is what we have heard privately as well). Still, many are waiting to see if BlackRock can convince the SEC to change its stance on physically created ETFs.

South Korean crypto exchange Upbit issued an announcement saying that recently some scammers are falsely claiming that specific digital assets will receive trading support from Upbit through their own websites and social media (SNS). All official information about trading support is only released through Upbit’s official announcement. Reminder Investors should remain vigilant when making investment decisions to prevent asset losses. It is reported that a project called "FUNToken" previously claimed to be listed on Upbit tomorrow, but Upbit has not officially announced this listing.

The lawyer responsible for defending SBF in the criminal trial admitted that the case was "virtually impossible" to win from the outset. In a one-on-one interview with Bloomberg, Stanford Law School professor David Mills recounted how Bankman-Fried's reluctance to follow his advice and scathing testimony from his former colleagues landed the FTX founder in hot water. The report also outlines how David Mills recommended that SBF's legal defense should admit the allegations made by witnesses and state prosecutors and try to convince the main jury that SBF intended to save the company from bankruptcy.

BNB Smart Chain (BSC) is about to undergo the Kepler hard fork. This fork will be closely integrated with the Ethereum Shanghai upgrade, introducing several important updates, optimizing the “Fast Finality” incentive mechanism and supporting EVM compatibility. After the Kepler hard fork, updates will move from being based on block height to having an impact on Unix time. The Kepler hard fork is scheduled to take effect on the test network at 16:00 on December 19, 2023, Beijing time, and on the main network at 16:00 on January 24, 2024.

In response to previous rumors about Binance, Binance co-founder He Yi tweeted that only those mediocre clowns with no hope for the future need to FUD Binance on Twitter every day to attract public attention. Alarmism will not kill Binance, it will only make more people stand with Binance. This is an era of highly transparent information. Technology changes the world. Binance is a technology company and we will establish a headquarters and board of directors as soon as possible. However, this is not directly related to transparency and success, but to the need to better fit the image of a "financial institution".