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[Grayscale will launch the first US XRP trust, paving the way for potential ETF]
According to FOX BUSINESS, Grayscale will launch the first U.S. XRP trust, paving the way for a potential ETF.
It is reported that Grayscale announced that the first XRP Trust to be launched is a closed-end fund that will provide qualified investors with the opportunity to invest directly in XRP. Trusts and ETFs are two different investment products. ETFs must be approved by the U.S. Securities and Exchange Commission because they are sold directly to retail investors, while the structure of trusts and sales promotions to qualified investors are subject to looser supervision. Even so, a trust can become an ETF as long as it obtains proper regulatory approval.
[Standard Chartered Bank report: Bitcoin may hit a new high by the end of the year, and the impact of the US election results is limited]
Geoff Kendrick, head of foreign exchange and digital asset research at Standard Chartered Bank, said in his latest analysis report that regardless of the outcome of the US presidential election, the price of Bitcoin is expected to hit a new historical high by the end of 2024. Kendrick predicts that if Trump wins, Bitcoin may reach $125,000; if Harris is elected, the price may reach $75,000.
Kendrick stressed that the US election has less impact on the future trend of Bitcoin than the market expects. He pointed out that positive changes in the regulatory environment are one of the key factors driving the growth of Bitcoin prices. Regardless of who enters the White House, the process of relaxing digital asset regulations (especially the revocation of SAB 121) is expected to continue in 2025.
In addition, Kendrick also mentioned that the development of the U.S. Treasury market provides a positive for the long-term trend of Bitcoin. He expects that the inflow of funds into the spot Bitcoin ETF will rebound seasonally in October.
[ eToro agrees to pay $1.5 million to settle with the U.S. SEC and will stop most crypto asset trading activities]
The U.S. Securities and Exchange Commission (SEC) announced that eToro USA LLC has agreed to pay a $1.5 million fine to resolve charges that it operated a crypto asset trading platform without a registered broker and clearing agency. As a condition of the settlement, eToro agreed to cease violating relevant federal securities laws and will only offer limited crypto asset trading.
According to the SEC's order, eToro has provided U.S. customers with the ability to buy and sell crypto assets that are securities through its online trading platform since 2020 without complying with the registration requirements of federal securities laws. eToro publicly announced that in the future, U.S. customers will only be able to trade Bitcoin, Bitcoin Cash, and Ethereum on its platform. For other crypto assets, eToro will provide customers with the ability to sell within 180 days of the SEC's order.
[Stablecoin issuer Circle is moving its global headquarters to One World Trade Center in New York]
Circle, the issuer of the stablecoin USDC, will move its global headquarters to New York’s iconic One World Trade Center, according to an internal document obtained by CoinDesk. The cryptocurrency company will occupy the top floors of one of the tallest buildings in the Western Hemisphere.
The announcement will be formally made on Friday, with a ribbon-cutting ceremony to be attended by New York Mayor Eric Adams, according to the filing. “This will not be an ‘office,’ but a powerful meeting space from which our industry and global leaders will benefit,” Circle said in its opening promotion.
According to reports, the new skyscraper is located on the site of the former World Trade Center and is also known as the Freedom Tower. It is currently the global headquarters of Condé Nast and is also home to companies such as MDC Partners, Reddit, Code & Theory and BounceX.
Circle declined to comment, and Adams’ office never responded to a request for comment.
[Reuters/Ipsos poll: Harris leads Trump with 47% support]
According to the latest Reuters/Ipsos poll: US Vice President Harris leads former US President Trump with 47% support to 42%.
Additionally, among registered voters who had heard something about Tuesday's presidential debate, 53% said U.S. Vice President Harris won, while 24% said former U.S. President Trump won.
[ The Information : OpenAI is in talks with Abu Dhabi investment company MGX to raise $7 billion]
According to foreign media The Information, OpenAI is in talks with Abu Dhabi investment company MGX to raise $7 billion in funds.
[U.S. House of Representatives proposed a new bill to establish a joint advisory committee on digital assets between the SEC and the CFTC ]
According to Fox News reporter Eleanor Terrett, John Rose, a Republican congressman from Tennessee and a member of the Republican Committee on Financial Services of the U.S. House of Representatives, is proposing a new bill called the "BRIDGE Digital Assets Act," which would establish a joint advisory committee on digital assets between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). The purpose of the committee is to allow the industry to provide advice to the two agencies on rules, regulations and policies related to digital assets.
The committee will be composed of 20 private sector players who will represent different interests in the crypto space.
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