1. Investors Telegram Open Network (TON) gave their answer about current events developing around the project. Most of them agreed to wait for the outcome of the situation with regulators until April 30 and don`t want to take back the invested money.
2. Crypto-derivative platform «Bakkt» has announced the launch of option contracts for its deliverable Bitcoin futures. According to the information provided, the instrument will appear on December 9th.
Kelly Loeffler, CEO of Bakkt, noted that the company has decided to create options in response to the requests of many customers.
«Futures options, which are based on bitcoin, are an important step towards the development of a new class of assets for institutional investors, as well as their clients» she said.
Meanwhile, trading volumes of deliverable Bitcoin futures broke records again amid a sharp decline in quotes of the first cryptocurrency. The indicator amounted to 640 contracts, which is 653% more than the day before.
3. The US Securities and Exchange Commission received another application for the launch of an exchange-traded fund (ETF) for bitcoin.
According to the document, the instrument will be traded on the NYSE Arca. The price of the underlying asset will be calculated using the Chicago Mercantile Exchange (CME) Bitcoin Index. The first cryptocurrency will be stored in a third-party custodian service.
«This fund will provide access to bitcoin at a price that reflects the real market» it is said in the application.
4. According to David Marcus, CEO of Calibra, if authorities continue to interfere with Libra, China will be the first to provide the world with its own digital currency.
«In 5 years, China will launch its own digital yuan for a significant part of the world on its own blockchain, which will be controlled only by it» he said during a conversation with Bloomberg.
5. Sylvia Garcia drafted and submitted to the US Congress a bill that proposes stablecoins to be equated with securities to regulate them.
The document was the answer to the possible launch of the stablecoin Libra. If accepted, then all stablecoins will be regulated by the SEC.
6. On Wednesday, Mark Zuckerberg, CEO of Facebook, spoke at the US Congress, where he said that his company is ready to leave the Libra Association if the project is launched prematurely without necessary regulatory approvals.
«You said you won’t release the finished product until you get approval from US regulators. What will happen if the association decides to start without your permission?» Congressman Bill Huizenga asked.
«In this case, we will be forced to leave the association. If I feel that Facebook is not worth taking part in, then the company will not do it» Zuckerberg replied.
7. On October 23, Jay Clayton, head of SEC, speaking at a financial technology conference in Washington, noted that the cryptocurrency community has shown progress in understanding how securities laws apply to digital assets.
According to him, «overt violations» of laws in the field of securities are observed less and less.
«During the heyday of the ICO in 2017-2018, many startups thought that in order to attract money, they just need to post a description of the project, without requiring any identification information from the campaign participants» he said. «I don’t think any of them even looked at the laws on our website».
8. Member of the US House of Representatives Brad Sherman, who has repeatedly made negative comments about cryptocurrencies, made a number of criticisms during hearings on the Libra stablecoin project on October 23.
«I’m here not to oppose Facebook. I reacted negatively to cryptocurrencies even when you had a similar opinion» he said, referring to the ban on advertising cryptocurrency projects that was previously introduced by the social network.
«Cryptocurrencies either don’t work and investors lose money, or they achieve their goals and are probably crowding out the dollar as the only reserve currency in the world» he also said.
9. Tom Lee, founder of Fundstrat, believes that at present the 50 million Bitcoin network users are significantly overestimated, largely due to 2017, when new investors came to this industry massively, but then left, and the real figure is around 500,000 people.
«Cryptocurrencies can become an independent class of assets, but for this, they need a user base much larger» he said.
According to him, institutional investors really want to enter the cryptocurrency industry, but they cannot do this because of low liquidity.
«Bitcoin should cost $ 150,000 to be liquid enough to cope with the increased demand from the followers of the institutional economics».
10. Christopher Giancarlo, Former CEO of CFTC, said that the current US President’s administration has made efforts to burst the Bitcoin bubble.
«The CFTC, the Ministry of Finance, the SEC and the then director of the National Economic Council, Gary Cohn, believed that the cryptocurrency market was greatly inflated, and the launch of bitcoin futures would help to burst this bubble. It worked» he said. «We decided to provide institutional investors with a tool to interact with this market, and they have already put things in order».
11. The Central Bank of Lithuania wants to create its own blockchain platform based on the technology of the largest technology giant IBM or the IT company Tieto.
Who exactly will be chosen for the implementation of the plans is still unknown. Currently, the Bank of Lithuania is testing both solutions.
«We want to create a platform not just to be able to use existing products and services. LBChain will provide an opportunity to create new solutions that no one is thinking about at the moment» Andrius Adamonis, project manager and representative of the Bank of Lithuania, said