DeFi News Today TheBitTimes.com

1. BlackRock Bitcoin Trust Listed on DTCC link On October 23rd, Bloomberg’s ETF analyst, Eric Balchunas, tweeted that BlackRock’s subsidiary, iShares Bitcoin Trust, had been listed on the DTCC (Depository Trust & Clearing Corporation). The stock code was reported to be IBTC, as part of the process to introduce a spot Bitcoin ETF to the market. However, later that day, BlackRock’s iShares Bitcoin Trust, IBTC, was removed from the DTCC website, only to be relisted on the following day. Subsequently, a Reuters report stated that the DTCC spokesperson mentioned that BlackRock’s iShares Bitcoin Trust ETF was added to the qualification document back in August 2023. As per information shared by @tier10k, email screenshots indicate that the standard procedure at DTCC is to add securities to the NSCC (National Securities Clearing Corporation) Securities Qualification File when preparing to launch a new ETF in the market. The list in this document includes both active and potential ETF secur...

Author  : ● Wang Yang, Vice-President (University Extension) of The Hong Kong University of Science and Technology, and Chief Scientist of the Hong Kong Web3.0 Association ● Zhu Haokang, PhD candidate in FinTech at The Hong Kong Polytechnic University, and founding member of the Hong Kong Web3.0 Association’s RWA and Stablecoin Working Group Source: //www.takungpao.com/opinion/233119/2023/1011/901267.html On June 1, 2023, the official implementation of Hong Kong’s Virtual Asset Regulation marked an important milestone in the development of Web3.0 in Hong Kong. This significant event underscored the profound impact of Web3.0 on fintech development, as articulated by Chief Executive of the Hong Kong Special Administrative Region, John Lee, during the establishment ceremony of the “Hong Kong Web3.0 Association” on April 11, 2023. It also demonstrated the open attitude and determination of the SAR government. Simultaneously, the Hong Kong Securities and Futures Commission opened applicatio...

Author: HSL Source: https://mp.weixin.qq.com/s/jM1g4xO6R6pIIDBzVW6bOg Recently, several KOL have claimed that as Bitcoin’s block rewards continue to halve, miners’ rewards will diminish. If the price of Bitcoin doesn’t double accordingly, it could be argued that the security model of Bitcoin might be at risk. The Proof of Work (PoW) mechanism operates optimally when block rewards are sufficient, as miners tend to cooperate and adhere to Bitcoin’s transaction rules, which align with their self-interest. However, when block rewards become too scarce (without a corresponding increase in price), miners might resort to attacking the network to turn a profit. So they propose altering the Bitcoin block reward halving mechanism to cease halving at an appropriate point to prevent miners from attacking the network. This reasoning is typical nerd behavior. Nevertheless, the market has repeatedly demonstrated that inadequate miner rewards do not necessarily threaten Bitcoin’s security. The operati...

Author：Crescent Editor：Colin Wu 1. The Mainland of China’s Weekly Summary 1.1 China Court Network Releases “Characterization of Illegal Acquisition of Virtual Currency Activities” link On the 24th of August, the China Court Network published an article titled “Qualification of Illegal Acquisition of Virtual Currency Activities.” The article examines three perspectives on the legal qualification of illegal acquisition of virtual currency activities. These perspectives include categorizing it as a crime of illegally obtaining computer information system data, considering it as a theft crime, or potentially involving both charges, where one heavy offense could be chosen. The legal characterization of the unlawful acquisition of virtual currency depends on the time when the actions occurred. If it took place before September 2017, virtual currency was regarded as property within the context of criminal law. This might lead to charges of both theft and illegal acquisition of computer inform...

Eugene Wong, Cobo Global Original article here Hong Kong has made remarkable strides in establishing a legal and regulatory framework of virtual asset operations over the past year. In October 2022, the Hong Kong Government issued a policy statement setting out its support for virtual assets and commitment to fostering sustainable development of the industry in all aspects. On June 1st this year, the licensing regime for Virtual Asset Trading Platform (VATP) issued by the Hong Kong Securities and Futures Commission (SFC) came into effect, mandating VATPs to obtain a license to continue its operations in Hong Kong. Existing VATPs seeking a license must submit their applications to the SFC within 9 months, by February 29th, 2024. Failure to do so will require them to cease operation in Hong Kong by May 31st, 2024. As of today, several virtual asset exchanges have publicly expressed their intention to apply for the VATP license in Hong Kong. According to market sources, there are curre...

1. BIT Mining Limited announced the launch of the latest generation of its popular Dogecoin / Litecoin mining machine, model LD4. The power efficiency metric of 0.71 W/MH is about one-half of the performance metric of the BitTorrent L7. Read more 2、 Luxor has developed a new method for estimating changes in the difficulty of the Bitcoin network, called the “rolling block method”, which claims to improve the accuracy of predicting future difficulty adjustments by taking into account the complex relationship between Bitcoin hashrate, mining luck value block time. Read more 3、 Jack Dorsey’s company, Block, has just completed the design of a 5nm Bitcoin ASIC chip and will proceed with wafer production. They are expected to receive the chips in autumn this year and continue working on 3nm chips. Block plans to open-source its Bitcoin mining technology. Read more 4、 The investment arm of the Bhutanese government started mining a few years ago as one of the early entrants, when bitcoin was ar...

1. Bitdeer and Blue Safari's merger was approved at a shareholders meeting, and Bitdeer shares started trading on NASDAQ under the symbol "BTDR". Bitdeer has six mining data centres with a total electricity capacity of 775 MW as of the end of 2022. Read more 2. Bitdeer shares opened 30% down and suffered a sell-off of over 10,000 shares in the first three minutes. The company's current market capitalisation is $854 million, making it the third-largest mining listed company in North America behind Marathon and Riot. 3. Bitdeer reported revenue of $88.77 million, $186 million, and $395 million for 2019, 2020, and 2021, respectively. The company reported a gross profit of -$10.068 million, -$23.177 million, and $241 million for the same period. In 2022, the company had a net loss of $62.4 million on revenue of $330 million. Bitdeer's net asset value was $316 million as of December 31, 2022. 4. Bitdeer criticised The New York Times for incorrectly reporting that the c...