Daily Report | Grayscale Chief Legal Officer: Will work closely with the SEC to promote the conversion of GBTC to a Bitcoin spot ETF; Circle announces the launch of native USDC on the Base mainnet

整理：Mia, ChainCatcher

"What Important Events Happened in the Last 24 Hours"

1. Grayscale's Chief Legal Officer: We Will Work Closely with the SEC to Push for GBTC's Conversion to a Bitcoin Spot ETF

According to ChainCatcher, Grayscale's Chief Legal Officer Craig Salm stated in an official announcement, "We appreciate the opinion of the D.C. Circuit Court, which recognizes that this case raises straightforward questions about equal treatment under the law. We are also very grateful to the legal teams from Munger, Tolles & Olson, Davis Polk, and Wardell. Our next step will be to work closely with the SEC to develop a plan to introduce GBTC as a spot Bitcoin ETF on NYSE Arca." (source link)

2. Circle Announces Launch of Native USDC on Base Mainnet
According to ChainCatcher, as reported by cryptotimes, Twitter Payments LLC has obtained a "Currency Transmitter" license in the state of Rhode Island.

The creation of the Rhode Island Currency Transmitter license is intended to replace the state's electronic money transmitter and check seller licenses. Any entity that maintains control over virtual currency or facilitates transactions involving virtual currency on behalf of others must obtain a Rhode Island Currency Transmitter license. (source link)

3. Foreign Media: Twitter Obtains License Required for Adding Cryptocurrency Payments
According to ChainCatcher, as reported by cryptotimes, Twitter Payments LLC has obtained a "Currency Transmitter" license in the state of Rhode Island.

The creation of the Rhode Island Currency Transmitter license is intended to replace the state's electronic money transmitter and check seller licenses. Any entity that maintains control over virtual currency or facilitates transactions involving virtual currency on behalf of others must obtain a Rhode Island Currency Transmitter license. (source link)

4. Data: "0x08E" Transfers Over 205,000 CYBER to Binance, All from CyberConnect Multisig Address
According to ChainCatcher, on-chain analyst Yu Jin reported that half an hour ago, an address starting with "0x08E" transferred 205,547 CYBER (worth $1.43 million) to Wintermute, which was then transferred to Binance.

It is reported that these CYBER originated from the CyberConnect Multisig address, which transferred them to the address starting with 0x08E six days ago.

CYBER started rising from 3.6 USDT last night, peaking at 8.2 USDT; the latest market shows that CYBER is currently at 7.191 USDT, with a 24-hour increase of 85.84%. (source link)

5. Binance Japan: Number of Listed Tokens Increases to 100, Focusing on Web3 Adoption and Stablecoin Business
According to ChainCatcher, Binance Japan announced its market strategy, focusing on "Web3 adoption and stablecoin business." Additionally, it will actively promote plans for collaboration between the Binance ecosystem and Japanese private enterprises and government, stating that this is a policy centered on stablecoins to facilitate integration with the existing financial system.

Currently, Binance Japan has 34 tokens available for trading, with a goal to increase to 100, selecting promising tokens from over 350 trading pairs globally and discovering and providing unique tokens within Japan. (source link)

"What Exciting Articles Are Worth Reading in the Last 24 Hours"

1. "Reviewing Friend.tech's Launch 20 Days In: 0 Cost to Claim About 2500 ETH, Was the Hype Preplanned?"

In just 20 days since its launch, Friend.tech has become a Web3 social application that encompasses many hot topics.

"Hard to get a code, backed by investment firm Paradigm, protocol fee revenue surpassing Uniswap to rank first in DApps, user count exceeding 100,000+, a well-known KOL has joined, user points controversy…" Each of these hot topics could easily become front-page content in the crypto community or media, but now they all describe the same application, Friend.tech.

Friend.tech allows users to bind their accounts to Twitter, tokenizing the popularity of their accounts (also referred to as "shares" later changed to "Keys"). Ordinary fans can purchase shares (Keys) issued by KOLs to become shareholders, gaining the right to privately chat and view specific content. Additionally, users can buy and sell shares Keys to gain profit from price differences.

From a product design perspective, the social reputation tokenization model of Friend.tech is not new. Back in 2021, Bitclout, which was once popular, did something similar by helping celebrities issue social tokens, including those of Elon Musk, Vitalik, and CZ. The biggest difference is that Bitclout issued tokens without the consent of the celebrities, facing community backlash and ultimately declining, while Friend.tech requires Twitter users to actively join.

This seemingly innovative yet essentially old wine in a new bottle product, Friend.tech, has gained popularity in a somewhat inexplicable manner, appearing to be the result of careful planning rather than spontaneous product success.

2. "Financial Times: How Do Industry Insiders View Grayscale's Victory? What Impact Will It Have on the SEC's Future Regulations?"

On Tuesday, cryptocurrency asset management company Grayscale achieved a brief victory in providing a spot Bitcoin ETF, as the U.S. Court of Appeals for the D.C. Circuit ordered the SEC to reconsider its decision to deny Grayscale Investments' request to convert its Bitcoin Trust (GBTC) into an ETF. Subsequently, Bitcoin prices surged 7% to nearly $28,000, bringing some comfort to the struggling crypto industry.

However, this does not mean that investors can immediately purchase Grayscale's spot ETF. Similarly, the SEC's enforcement actions against industry giants like Coinbase and Binance will not be immediately affected. The regulatory agency still has a long way to go in taming the so-called "financial wild west" (the crypto industry).

3. "From Ethereum to Rollups, Which Public Chains Are Users' True Love?"

This article analyzes the actual application of major public chains and Rollups among users based on the latest survey. Although Ethereum still dominates, high transaction fees limit its use. Meanwhile, other public chains like Cardano and Polygon have active communities but relatively low actual usage rates. Notably, Rollups, as an on-chain scaling solution, are gaining increasing attention from users. This survey reveals the diversity and differences in user choices regarding blockchains and layer two networks.