“Happiness is not something you postpone for the future; it is something you design for the present.”
- Jim Rohn
Happy Thursday, CMC family! The week is almost over, hang in there! 🐵
Today in history (1965), former U.K. prime minister Winston Churchill dies from a cerebral thrombosis at the age of 90. He was perhaps best known for leading Britain through World War II. ⚔️
In today's newsletter, we will be covering the Cboe BZX Exchange withdrawing its proposal for the VanEck-SolidX Bitcoin exchange-traded fund (ETF), founder of OKCoin Star Xu buying a controlling share in a Hong Kong Stock Exchange (HKEX)-listed firm and the Jamaica Stock Exchange (JSE) planning to list security tokens as tradable assets.
Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚
Slow days 🐌
It has been another rather uneventful 24 hours in the crypto markets. Earlier on in the day, total market capitalization dropped from ~$121.2 billion to ~$120 billion where it remained for the rest of the day. Most coins are seeing loses in the ~1-2% range. Notable mover of the day is Holo (HOT), currently up ~38.3% over yesterday. BTC is currently trading at ~$3,600, down ~0.3% for the day. Nothing new on BTC's front, as it continues on its downward trajectory and continues making lower highs and lower lows.
The Cboe BZX Exchange has withdrawn its proposal for the VanEck-SolidX Bitcoin exchange-traded fund (ETF). On 22 Jan, the exchange filed its withdrawal. 😣
According to CoinDesk, the digital asset strategy director of VanEck, Gabor Gurbacs said that the filing “has been temporarily withdrawn” and that VanEck is still "working with regulators and major market participants to build appropriate market structure frameworks for a Bitcoin ETF and digital assets in general.”
Earlier in the week, VanEck CEO Jan van Eck told CNBC that the proposal was being withdrawn and would be submitted at a later date following continued discussions with the SEC. It was “engaged in discussions with the SEC about the Bitcoin-related issues, custody, market manipulation, prices", but had to stop due to the ongoing partial government shutdown in the U.S. Instead of trying to slip their Bitcoin ETF application through, it was decided upon to withdraw the application, and to "re-file when the SEC gets going again”.
We're taking over 💰
Star Xu, founder of crypto exchange services provider OKCoin, has bought a controlling share in a Hong Kong Stock Exchange-listed firm for approximately $61,6 million. OKC Holdings Corp. is now the controlling shareholder in LEAP Holdings, a Caymans Island-incorporated construction engineering firm. 💪
OKC Holdings Corp. purchased roughly 3.2 billion shares at HK$0.15 (~$0.02) apiece — at a total cost of $483,890,536 (~$61.6 million), and now owns a 60.49% of Leap Holdings’ stock, with the same percentage of voting rights. Notably, Xu owns the majority stake in OKC Holdings (52.32 percent) through his 2 wholly-owned firms, StarXu Capital and OKEM Services Company.
OKC Holdings Corp.’s acquisition has the apparent hallmarks of a reverse initial public offering (IPO).
The next step 👣
The Jamaica Stock Exchange (JSE) is planning to list security tokens as tradable assets for clients, after completing a 60-day live cryptocurrency trading pilot that saw participation from regulated broker-dealers, market makers and the Jamaica Central Securities Depository (JCSD). 👀
According to the managing director of JSE, Marlene Street Forrest, the pilot was “very smooth”, and so the exchange is "looking forward to moving to the next stage of the pilot which would eventually include the listing of security tokens.”
If more than half the computer power or mining hash rate on a network is run by a single person or a single group of people, then a 51% attack is in operation. This means that this entity has full control of the network and can negatively affect a cryptocurrency by taking over mining operations, stopping or changing transactions, and double-spending (reusing) coins.
Other news 📰
Enterprise blockchain startup Symbiont has closed a $20 million Series-B funding round led by Nasdaq Ventures with participation from Galaxy Digital, Citi, Raptor Group and others. 💰
2 New Hampshire lawmakers, Representatives Dennis Acton and Michael Yakubovich, filed a bill this month that would let state-level agencies accept cryptocurrencies as payment, including the state’s tax office, if passed. 🤞
In a consultation paper published 2 days ago, the U.K.’s financial watchdog, the Financial Conduct Authority (FCA), has set out proposed guidance for how crypto assets should be regulated in the country.
How much do you agree with this statement: "I am currently considering a career switch to the crypto/ blockchain industry"
The average vote was 6.7. While this space may not be suited for everyone, I would definitely love to see more people porting over to the crypto/ blockchain industry. This space truly is remarkable - exciting as it is rapidly changing, challenging as it encompasses multiple disciplines and arguably burgeoning as there is so much development on many fronts.
"Why or why not?"
I'm already a programmer, so it wouldn't really be a massive career switch, but currently I don't work in that space - I'm mostly in web development right now. -Who knows? One day you might end up in this industry! Never say never. 😉 We are going into 4th industial revolution that is the money of the future digital monies - Hop on the train along with the rest of us in the crypto space! Take a leap of faith - From my experience, it often doesn't turn out too bad. 😂 I am quite comfortable in my present job.. but am watching the space very closely. - Good on you that you're keeping options open. 👀 It has good future but I have already spent 14 yrs in oil n gas industry - Sounds like you've got something great already going for yourself. Stick to that then! I'm sure you already know that industry inside and out, and that's a huge advantage. 👌🏻 To participate in revolution! - Hell yeah! 💪 I'm thinking very seriously of learning how to program blockchains. I'm retired, but I guess that's a career change. - Kudos to you. Learning should never stop. 🤓 The incredible potential of the technology and its impact on our world - Damn straight it's gonna make an impact on our world (: Maybe that is the future, but I'm happy with my actual job! - Fair enough. Getting in at start of something that is going to be very big - Gotta strike while the iron is hot. 😋 But hey, I'm in Belgium, so no real possibilities 🙁 - There are many remote jobs available now. You simply have to look hard enough! 🧐
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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