Bitpush editor's daily selected Web3 news:
【U.S. Treasury Secretary Clarifies Government Crypto Strategy: No Immediate Bitcoin Purchases, But Expansion Plan Not Terminated】
According to AXIOS, U.S. Treasury Secretary Becent clearly stated on Fox Business Channel on Thursday local time that the U.S. government will not directly purchase more Bitcoin, but later added that this does not mean stopping the plan to expand crypto asset reserves. Since Trump signed an executive order in March to create a Bitcoin strategic reserve, the market has been closely following its specific operational details. The reserve is currently based on approximately $20 billion in cryptocurrencies seized from criminal activities, and the executive order explicitly requires the Department of Commerce and Treasury to study a "budget-neutral" way to expand reserve scale. Becent's morning statement of "will not purchase" was interpreted by the market as stopping expansion. However, he supplemented on social media: "The Treasury is committed to exploring budget-neutral paths for Bitcoin acquisition," and his spokesperson emphasized that the earlier remarks were over-interpreted - the statement was merely a casual remark, not a major policy announcement.
【Circle Executives Cash Out at High Levels, Selling Ahead of 349% Stock Price Surge】
According to Jinshi, while investors are scrambling to buy the hottest crypto company IPO this week, executives of stablecoin issuer Circle (CRCL.N) have begun urgently harvesting the company's stunning post-listing gains. Circle announced on Tuesday the sale of 10 million shares at current market price (with 2 million shares from the company and the rest from shareholders, including CEO Jeremy Allaire), cashing out approximately $1.4 billion.
According to informed sources, this two-day placement has been oversubscribed and is expected to be priced on Thursday local time. The company, which went public in early June, has already soared 349% and delivered an impressive quarterly report earlier this week. This stock sale is much earlier than expected - just two months after Circle's listing, far from the end of the year-end lock-up period. However, lead underwriter and lock-up exemption decision-maker JPMorgan did not block this sale. Joseph Schusters, founder of Chicago IPO research firm IPOX, said: "This is a reasonable arbitrage behavior, with risks transferred to the public market."
【SEC Delays Bitwise and 21Shares Solana Spot ETF Resolution, New Deadline Set for October 16】
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on whether to approve the Solana spot ETF proposals submitted by Bitwise and 21Shares, with the new deadline set for October 16.
In a filing on Thursday, the SEC stated that more time is needed to review these proposals and the issues they raise. This approach is consistent with how the SEC has handled other cryptocurrency ETF proposals, typically extending the review period.
It is known that the SEC has received ETF applications for dozens of cryptocurrencies, including XRP and Doge. Nevertheless, BlackRock has told The Block that it currently has no plans to launch a Solana fund.
This delay is a routine procedure in the cryptocurrency ETF application process. Previously, Solana ETF applications from companies like Grayscale and Fidelity have faced similar delays.
【Citigroup Considers Offering Stablecoin and Crypto ETF Custody and Payment Services】
Citigroup is exploring providing custody, payment, and USD conversion services for stablecoins and crypto asset-related ETFs, planning to custody U.S. Treasuries and cash supporting stablecoins, and may potentially issue its own stablecoin. This move is driven by the U.S. Congress passing stablecoin legislation and the Trump administration's regulatory relaxation. Citigroup is also considering using stablecoins for cross-border instant payments and discussing application scenarios with clients. Currently, Coinbase dominates the custody business in this field.
【Abu Dhabi Sovereign Wealth Fund Mubadala Discloses Holding $534 Million of BlackRock Spot Bitcoin ETF as of June 30】
According to SEC files disclosed today, Abu Dhabi sovereign wealth fund Mubadala held 8,726,972 shares of IBIT, valued at approximately $534 million as of June 30. This position has remained unchanged since the previous filing in May.
Additionally, in a new filing, Al Warda Investments disclosed holding 2,411,034 shares of IBIT, valued at approximately $147.5 million as of June 30. The manager is noted as the Abu Dhabi Investment Council, a sovereign wealth fund under Mubadala.
【BNB Version of MicroStrategy, BNC, Announces Additional Purchase of 88,888 BNB】
Supported by YZi Labs, the BNB version of MicroStrategy, CEA Industries (BNC), announced the purchase of 88,888 BNB tokens.
Following the earlier purchase of 200,000 BNB tokens this week, this additional purchase marks an important step towards BNC's publicly announced goal of holding 1% of BNB's total supply by the end of 2025.
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