Bitpush weekend news review:
[ U.S. Financial Industry Regulatory Authority: 55% of Generation Z in the United States prefer to invest in cryptocurrency ]
According to a survey by the U.S. Financial Industry Regulatory Authority (FINRA), 55% of American Generation Z prefer to invest in cryptocurrencies . Generation Z prefers to have their finances on-chain rather than online. They believe that digital banking platforms are clumsy and opaque. Generation Z prefers to manage their finances on-chain through decentralized financial applications and digital dollar stablecoins.
It is reported that Generation Z refers to those born between 1997 and 2012 and are now aged 12 to 27.
[Chairman of the Russian Financial Market Committee: Cross-border crypto payments will be regulated by the end of November]
Anatoly Aksakov, chairman of the Russian State Duma’s Financial Markets Committee, said that the Russian Central Bank and the Ministry of Finance are working on regulations to set the rules for cross-border payments in cryptocurrencies. The government aims to complete these regulations by the end of November.
The Russian government will first test cryptocurrency payment mechanisms under the Experimental Legal Regime (EPR), meaning only selected participants such as credit institutions and banks will be able to take part in the process, which is intended to minimize risks and help develop regulations to protect the market from fraud.
Aksakov revealed that companies are already using cryptocurrencies for import and export payments, with transactions estimated at billions of dollars, emphasizing the need to limit the number of financial institutions involved in these transactions at the initial stage in order to better understand the market and develop effective regulations.
[Republican Senate candidate: The US SEC's excessive intervention in the cryptocurrency industry has caused retail investors to lose more than $15 billion]
Attorney and Republican U.S. Senate candidate John Deaton said that the SEC 's excessive intervention in the cryptocurrency industry has caused retail investors to lose more than $15 billion.
It is reported that Deaton made the above statement two weeks ago. The lawyer who supports XRP won the nomination for the U.S. Senate in the Massachusetts primary and will face Democratic Senator Elizabeth Warren in November.
[Hyblock Capital: Bitcoin market is deeply exhausted, which may indicate a bullish trend in Bitcoin prices]
Market depth, or the collection of buy and sell orders, either close to or away from the market price, dried up over the weekend, according to data tracked by Hyblock Capital. The pattern, which typically emerges at market turning points, suggests that Bitcoin ’s decline from late August highs above $65,000 has ended.
Liquidity is represented by market depth, which measures the market's ability to absorb large trade orders without affecting prices. It often depends on several factors, including the time of day, market events at the time, and specific price levels.
Market bottoms are characterized by traders finding it difficult to make decisive moves, resulting in fewer buy and sell orders and lower liquidity.
Shubh Verma, co-founder and CEO of Hyblock Capital, told CoinDesk : By analyzing the aggregate spot order book, especially the order book with a spot order book depth of 0%-1% and 1%-5%, we found that low order book liquidity usually coincides with market bottoms. These low order book levels can be an early indicator of price reversals, often preceding bullish trends.
[OpenAI may reorganize its non-profit structure next year]
It’s increasingly likely that OpenAI will soon change its complex corporate structure after reports emerged earlier this week that the company was in talks to raise $6.5 billion at a pre-money valuation of $150 billion.
Now, according to Reuters, the deal depends on OpenAI being able to restructure and remove profit caps for investors. And according to Fortune, co-founder and CEO Sam Altman told employees at a company-wide meeting that OpenAI's structure is likely to change next year to make it closer to a traditional for-profit business.
OpenAI’s current structure, in which its for-profit arm is controlled by a nonprofit, appears to have frustrated investors.
[U.S. CFTC: The U.S. election gambling boom is coming and will harm the public interest]
The U.S. Commodity Futures Trading Commission ( CFTC ) has warned of an impending explosion in election gambling on the U.S. election and asked an appeals court to continue to suspend Kalshi’s political prediction market while the agency’s appeal is pending.
The district court order has been interpreted by Kalshi and others as open season on election gambling, the CFTC said in a filing Saturday, referring to a Sept. 6 ruling that the CFTC should not prevent the company from offering contracts on which political party will control both chambers of Congress.
Following the ruling, Wall Street giant Interactive Brokers announced it would offer contracts on the presidential election through its CFTC-regulated subsidiary, the agency said. The CFTC said other CFTC-regulated exchanges would follow suit unless the U.S. Court of Appeals for the District of Columbia extends its suspension of Kalshi contracts pending appeal.
The CFTC reiterated that a surge in election gambling on U.S. futures exchanges would harm the public interest. Those harms include market manipulation and undermining the integrity of the election.
Twitter: https://twitter.com/BitpushNewsCN
BitPush TG Exchange Group: https://t.me/BitPushCommunity
Bitpush TG subscription: https://t.me/bitpush
Btok subscription: https://btok360.com/bitpush
