🌙 BlackRock Met With SEC Officials

According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust.

Author

Mike Gavela
November 22, 2023

Crypto Roundup - Nov 22

BlackRock and Nasdaq representatives met with the U.S. Securities and Exchange Commission (SEC) to discuss the listing of a spot Bitcoin exchange-traded fund (ETF). BlackRock presented two models for its iShares Bitcoin Trust, but the SEC's response remains unclear. The market anticipates a potential SEC decision on a spot BTC ETF, which would be a significant step towards mainstream crypto adoption. In related news, Binance, one of the world's largest crypto exchanges, transferred $3.9 billion worth of stablecoins from its cold wallet days before a settlement with the U.S. DOJ, involving a $4.3 billion fine and CEO Changpeng Zhao's resignation. This development led to a market upheaval, with $175 million in crypto long positions liquidated and over $1 billion in asset inflows to Binance halted.

Top Stories:

  • BlackRock Discusses Spot Bitcoin ETF: BlackRock and Nasdaq met with the SEC to discuss a spot Bitcoin ETF, signaling potential progress in crypto mainstream adoption.

  • Binance Transfers $3.9 Billion Amid Settlement: Ahead of its $4.3 billion DOJ settlement, Binance moved $3.9 billion in stablecoins, coinciding with significant market liquidations and reduced asset inflows.

  • Market Reacts to Binance News: The news of Binance's settlement and CEO Zhao's departure led to the liquidation of $175 million in crypto long positions and a decrease in asset inflows to the exchange.

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TOP STORIES

BlackRock met with SEC officials to discuss spot Bitcoin ETF

With many expecting a decision on one of the spot BTC exchange-traded fund applications queuing at the SEC, BlackRock representatives presented their case to the commission.

cointelegraph.com/news/blackrock-sec-spot-bitcoin-etf-discussion

Binance cold wallet sent $3.9 billion worth of USDT days before guilty plea

Binance and its former CEO have pleaded guilty to federal charges of over $4.3 billion.

blockworks.co/news/binance-cold-wallet-usdt

CZ departure, Binance deal lead to purge of $175M of crypto longs

Data platform CoinGlass highlighted that over 90,000 traders were liquidated in the last 24 hours.

cointelegraph.com/news/crypto-asset-24-hour-liquidation-binance-doj-cz

FUNDRAISES

OTHER HEADLINES

Blur airdropped $100m worth of tokens. New blockchain Blast promises even more to Blur airdrop recipients

Many of the biggest Blur airdrop recipients have chosen to deposit some of their tokens to earn Blast points.

www.dlnews.com/articles/defi/blur-airdrop-recipients-get-leg-up-in-upcoming-blast-airdrop

No ‘mass exodus of funds’ following Binance-DOJ settlement — Nansen

Binance continues to operate with crypto trading and withdrawals following a deal between U.S. authorities and the exchange and CEO Changpeng Zhao.

cointelegraph.com/news/no-mass-exodus-funds-binance-doj-settlement

Coinbase cites SEC action against Kraken in push for crypto rulemaking

According to lawyers for Coinbase, the SEC’s claims it needs more time to create rules on crypto is a “mirage,” evidenced by its case against Kraken.

cointelegraph.com/news/coinbase-sec-action-kraken-crypto-rulemaking

Justin Sun Confirms HTX, Heco Chain Exploited After $100M in Suspicious Transfers

HTX withdrawals and deposits have been temporarily suspended, and all losses will be covered by the exchange, Sun said.

www.coindesk.com/tech/2023/11/22/justin-sun-confirms-htx-heco-chain-exploited-after-100m-in-suspicious-transfers

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