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first_img The cryptocurrency industry urges the U.S. SEC to avoid implementing a one-size-fits-all restriction on new ETFs

According to Cointelegraph, participants in the crypto industry such as a16z, Grayscale, and the Crypto Council for Innovation (CCI) urged the U.S. Securities and Exchange Commission (SEC) to avoid implementing a one-size-fits-all restriction on "novel" exchange-traded funds (ETFs) and instead assess them based on individual risk parameters. Three comment letters were submitted on August 31, just as the SEC's 60-day window for public comments on the regulation of new ETFs was nearing its end. The SEC launched this consultation on June 30, seeking opinions on whether existing regulations are sufficient, how such funds should be regulated, and whether the registration process needs adjustments.a16z believes that crypto-based ETPs have now benefited from more mature market infrastructure, including exchange-approved listing standards and established disclosure requirements, and therefore should not be grouped with products that hold private assets or adopt other novel strategies. Grayscale similarly argues that digital asset products with mature compliance and disclosure records should not face new portfolio conditions or disclosure regimes simply because they are classified as "novel." CCI called for comparable regulatory efficiency between ETFs and non-ETF ETPs while retaining existing investor protection measures.There is widespread opposition to potential regulatory adjustments that could impose additional requirements or delay product launches, but there are differences in classification, approval processes, and terminology. The dispute over the ETF label is particularly pronounced: a16z proposed that the term ETF be used only for funds under the Investment Company Act of 1940, while Grayscale believes that ETFs should describe economic characteristics rather than legal shells.

hot_img Micron will issue the highest performance bonuses in history to avoid worker strikes

According to Reuters, Micron Technology's unions in Taoyuan and Taichung, Taiwan are preparing for a strike. The union claims to represent nearly 10,000 of Micron's approximately 15,000 employees in the two locations, and an internal survey shows that over 80% of members support the strike. The core of the labor dispute revolves around bonus distribution— the union believes that the current incentive plan does not adequately reflect the company's profitability and is demanding a one-time additional bonus for this fiscal year, as well as a shift to quarterly profit sharing of 15% of operating profits starting from the 2027 fiscal year. Micron previously responded that it would issue the highest performance bonuses in history, but the union believes the company has not adequately explained the performance calculation method, and it seems to be more closely tied to revenue rather than profit.As the world's third-largest memory chip manufacturer, Micron reported revenue of $41.46 billion and a net profit of $28.24 billion in the third fiscal quarter, with a market capitalization of approximately $1.1 trillion. Taiwan is Micron's largest manufacturing base, with a cumulative investment of NT$1.4 trillion, producing DRAM and HBM. If the strike proceeds, it may impact the global memory chip supply. The Taichung Science Park Administration stated that it is closely monitoring the situation and has prepared a labor mediation mechanism. Previously, the Samsung union also raised similar profit-sharing demands and obtained a special bonus pool of 10.5% of the chip division's operating profits after negotiations.

Keeta sent a letter to the hacker after the attack: Return the funds within 72 hours to avoid accountability

Regarding the recent attack on the payment public chain Keeta, Keeta Network CEO Ty sent a letter to the attackers stating that the investigation has made substantial progress and evidence has been collected that can identify the attackers. This includes information on the IP addresses related to the attack, the VPN and VPS infrastructure used, the user agents and technical environment that initiated unauthorized requests, relevant email addresses, the software used, and the infrastructure service providers. The relevant evidence has been preserved and submitted to the authorities.The attackers are required to return all funds obtained from this attack within 72 hours, with repayment acceptable in KTA, ETH, or USDC. If the full amount is returned, a certain reward will be offered, and the matter will be resolved without pursuing legal responsibility. If the deadline is exceeded and the funds are not returned, all rights to pursue legal action and fund recovery will be reserved. Ty previously stated that the root cause of the security incident has been confirmed and patches are being tested. The issue is an isolated problem with the affected components and does not impact Keeta's anchor system or any external connection systems. All KTA on Base has not been affected. The Keeta mainnet will remain in read-only status until the patches are fully tested and appropriate additional safeguards are implemented before resuming full operation. The team is actively assessing the best way to fully compensate all affected users.

hot_img CZ: Bitcoin still follows a four-year cycle, and cryptocurrency is entering the most favorable policy environment

At the SALT conference held in Jackson Hole, Wyoming, CZ discussed the previously mentioned "super cycle" of Bitcoin at the Davos Forum, stating that this claim has yet to materialize. From the data, the market still follows a relatively strict four-year cycle, currently in the bear market phase; however, as the total market capitalization continues to expand, the price volatility will tend to narrow, similar to the price fluctuation patterns of large companies like Amazon and Facebook.Regarding the regulatory environment in the United States, CZ stated that this is the friendliest industry environment he has seen in his 12 years of work, and he believes that the U.S. regulatory framework has a demonstrative effect globally, with many countries' securities laws and exchange regulatory structures referencing the U.S. At the same time, Hong Kong is accelerating its legislative efforts to align with U.S. regulatory thinking. Additionally, CZ discussed the allocation situation of his investment firm YZi Labs, stating that currently about 70% of the funds are directed towards the core tracks of crypto and blockchain, about 20% towards AI, and the remaining portion towards fields like biotechnology.YZi Labs uses its own funds and is not constrained by external LP return cycles, placing more emphasis on the positive impact of projects and the execution capability of founding teams rather than purely on financial return models. Regarding Hyperliquid, CZ mentioned that there is a misunderstanding in the industry, believing that as a shareholder of Binance, he would only maintain a CEX position, but his entry into this industry was precisely because he believes in decentralization. If platforms like Hyperliquid, which do not require KYC, can enter the U.S. market in a compliant manner, it will open the doors for the entire industry, allowing more Perp DEX and decentralized services to reach users in the U.S. and globally, thus providing American consumers with better liquidity and pricing. This will not only benefit Hyperliquid itself but also international centralized trading platforms, including Binance.

first_img Grayscale: The global alternative asset scale has grown nearly 7 times since 2008, and the allocation preferences of the younger generation are favorable for cryptocurrency

Grayscale Research Director Zach Pandl stated that the global alternative asset market has grown nearly 7 times since the 2008 financial crisis, with the share of private equity, private credit, hedge funds, physical assets, and cryptocurrency in global portfolios continuing to rise. According to the data he cited, within alternative assets, private equity accounts for about 29%, hedge funds about 23%, and cryptocurrency about 13%.Zach Pandl mentioned that differences in intergenerational allocation preferences may further strengthen this trend. According to a Bank of America survey of high-net-worth individuals, investors aged 21 to 43 allocate about 53% of their assets outside of traditional stocks and bonds, while the proportion for those aged 44 and above is 26%. With over $100 trillion in wealth expected to transfer to younger generations in the coming years, their stronger preference for alternative assets may provide ongoing tailwinds for cryptocurrency.He added that the lowering of entry barriers to alternative assets is one of the reasons for this shift, with cryptocurrency developing along similar paths; regulated products like Bitcoin ETPs and institutional-grade market infrastructure provide more convenient access to exposure.
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