Coin circle news focus:

  • Bitcoin once hit $35,000, BlackRock Bitcoin Spot ETF is back in sight!

  • BlockFi emerges from bankruptcy and now begins repaying debt

  • U.S. House Speaker race, cryptocurrency supporter Tom Emmer loses chance

The currency circle boss said this:

  • hoeem: "It's still early days for the bull market!"

Critical hit chance this week:

  • Cryptocurrency exchange project GRVT, earn points to ambush potential airdrops

Prices of Bitcoin and other cryptocurrencies | CoinGecko Top 100 Cryptocurrencies (2023.10.24 AM 08:00 ~ 2023.10.25 AM 08:00

Coin News Focus

Bitcoin once hit $35,000, BlackRock Bitcoin Spot ETF is back in sight!

After a day of fluctuations in the price of Bitcoin, it eventually rebounded to $34,000. This phenomenon coincided with the disappearance of the Bitcoin spot ETF applied for by BlackRock, the world's largest asset management company, from the list of the Depository Trust and Clearing Corporation DTCC, and its subsequent re-emergence. Appear related.

DTCC provides post-trade clearing, settlement, and custody-related services to the U.S. stock exchange Nasdaq. Many industry insiders have observed that BlackRock’s iShares Bitcoin Spot ETF appears on the DTCC list and interpreted the period as a U.S. securities exchange. Chances of SEC approval increase. Spurred by the news, Bitcoin prices soared to $35,000, hitting their highest level since May 2022.

At press time, Bitcoin was trading at $33,812, up 3.1% in the past 24 hours and 19.6% in the past seven days.

Bitcoin price trend over the past 7 days

 

BlockFi emerges from bankruptcy and now begins repaying debt

In the FTX bankruptcy incident, the lending platform BlockFi, which simultaneously declared bankruptcy and suspended withdrawals, currently states that it has officially emerged from bankruptcy and will begin to repay its creditors.

BlockFi said in its statement that it has spent several months developing a bankruptcy plan and is in the process of downsizing and trying to recover assets from bankrupt institutions including FTX and Three Arrows Capital and eventually repay BlockFi users. They mentioned in the statement that under the current plan, almost all users can withdraw money normally.

 

U.S. House Speaker race, cryptocurrency supporter Tom Emmer loses chance

The House of Representatives is currently re-electing the Speaker of the House of Representatives, and the industry is very concerned about whether members who support cryptocurrency can take office. Among them, Republican "Mr. Cryptocurrency" Tom Emmer was once nominated during the election, but was later forced to give up the opportunity under pressure from the Republican Party.

According to foreign media reports, the Republicans and Democrats have yet to reach a consensus on the choice of Speaker of the House of Representatives, and another congressman who advocates cryptocurrency bills, Patrick McHenry, is still acting as the Speaker of the House of Representatives, which means that cryptocurrency-related regulations are still at a stagnant stage.

 

Other currency news

  • Binance and founder CZ jointly issued a statement calling on the U.S. Commodity Futures Trading Commission CFTC to drop the complaint filed in March, calling the "unregistered derivatives trading" charged by the CFTC a targeted charge of discrimination.

Full version of Lian Xi’s birthday report

Watch the boss’s views and critical attack opportunities this week

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