Bitpush Editor's Daily Selected Web3 News:
[{Morgan Stanley} CEO: Will Allow Clients to Purchase Bit, But Will Not Provide Custody Services]
Morgan Stanley (JPM.N) CEO {Dimon} said today in his speech that he is not a "fan" of Bit, but will allow clients to purchase Bit, but will not provide custody services.
He stated: "Blockchain is not as important as you think, and we have no intention of entering the crypto asset custody business."
[US SEC Delays Resolution on 21Shares and Bitwise Solana ETF and Opens Public Comment Period]
The US Securities and Exchange Commission (SEC) delayed the resolution on 21Shares and Bitwise Solana ETF and sought public comments. The SEC stated in the document: "Initiating the review procedure does not mean that the Commission has drawn any conclusions on any related issues. Instead, the Commission seeks and encourages comments from relevant parties on the proposed rule changes."
Later on Monday, the SEC also sought public comments on Canary Solana Trust and VanEck Solana Trust.
[Fortune: Stablecoin Issuer Circle Seeking Buyers at Valuation of at Least $5 Billion, Sale Negotiations Involve Coinbase and Ripple]
According to Fortune, Circle Internet Financial, which issues the world's second-largest stablecoin, is seeking buyers at a valuation of at least $5 billion. The sale negotiations reportedly involve its long-term partner Coinbase and recent stablecoin competitor Ripple, with San Francisco-based Circle still seeking to go public.
In April this year, Circle submitted an initial public offering (IPO) prospectus with an unknown valuation. Later that month, Ripple, which has been making large acquisitions, proposed to acquire Circle at a price of $4-5 billion. Reports suggest that Circle rejected Ripple's offer at the time, saying its valuation was too low.
Circle and Coinbase have maintained a long-term relationship since the establishment of the CENTRE consortium that initially managed the USDC stablecoin. USDC is the most widely used stablecoin on Coinbase, and Circle paid Coinbase approximately $900 million in distribution fees in 2024.
Coinbase has also been seeking acquisitions, including the derivatives exchange Deribit and privacy platform IronFish, and it will become the first pure cryptocurrency company to join the S&P 500 index.
Ripple recently launched its RLUSD stablecoin on {Kraken} and integrated it into the exchange's payment platform.
[Bloomberg: US Department of Justice Investigates Coinbase Cyber Attack]
Bloomberg reported on Monday, citing sources, that the US Department of Justice is investigating a cyber attack on Coinbase and subsequent ransom request, including personnel from the department's criminal division in Washington.
Last Thursday, Coinbase disclosed an attack in which a group of cybercriminals attempted to extort $20 million to prevent stolen customer data from spreading on the internet. The company stated that this incident could result in losses of $180-400 million, including remediation costs and voluntary customer compensation.
The exchange stated that the attackers did not access any customer funds, private keys, or login systems, and the attack affected less than 1% of Coinbase users. Coinbase Chief Legal Officer Paul Grewal told Bloomberg: "We have notified the US Department of Justice and other US and international law enforcement agencies and are cooperating with them, welcoming criminal charges against these bad actors."
[US SEC Appoints Katherine Reilly as Acting Inspector General]
According to official sources, the US Securities and Exchange Commission (SEC) announced today the appointment of Katherine Reilly as Acting Inspector General.
Ms. Reilly currently serves as the Deputy Inspector General of the SEC. She will replace Ms. Deborah Jeffrey, who has been the SEC Inspector General since 2023 and is about to retire.
[Semafor: US Senate May Not Complete Crypto Stablecoin Bill This Week]
According to US financial media Semafor, the US Senate may not complete the crypto stablecoin bill this week. Some will request amendments, some Democrats may try to delay the process, while Republicans want to prioritize repealing Biden-era regulatory measures.
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