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Bitwise filed an amendment to its Bitcoin spot ETF application on Monday to include fresh arguments that they argue invalidate the reasons why the US Securities and Exchange Commission (SEC) has denied similar applications. They argued that price discovery within the CME Bitcoin Futures market actually leads the spot market in Bitcoin’s price discovery, and may serve as a “regulated market of significant size” for market surveillance purposes. According to a previous Bitwise study, trading volume within Bitcoin’s spot market may be mostly fake, meaning the relative size of its futures market is actually much larger. In 2021, another Bitwise study found that CME futures accounted for 52.97% to 68.03% of Bitcoin’s price discovery, making it relevant enough for a surveillance-sharing agreement. The SEC lost its lawsuit with Grayscale in August, and Bitwise believes that solid arguments related to CME futures’ relationship with spot prices are needed if the SEC appeals the court ruling. This is good news for Bitcoin ETF applications in the US, as it could help give the SEC more evidence to approve applications. #Bitcoin #ETF #SEC #USRegulators

You can read more about this topic here: Decrypt: Bitwise Pushes Back Against SEC Rationale for Rejecting Bitcoin Spot ETFs

The post Bitwise Rebuts SEC: Proves Why Bitcoin Spot ETFs Should Be Approved first appeared on Byte Syze Crypto.

Minecraft recently updated its usage guidelines to ban play-to-earn models and token-gating functionality on fan-operated game servers, clearing the way for developer Mojang to reportedly threaten action against a server that paid players in Bitcoin. A prominent figure has now come out in support of Mojang’s move: Minecraft creator Markus “Notch” Persson. Notch, who sold Mojang and the Minecraft IP to Microsoft in 2014, replied in a tweet thread about Decrypt’s article covering the Bitcoin server: “I’m glad they’re cracking down on nonsense like this.” Satlantis, an independent, fan-operated Minecraft server that paid players Bitcoin rewards for completing in-game tasks, announced on Friday that it would remove the earning feature after receiving a demand from Mojang. Microsoft has not yet replied to Decrypt’s request to confirm the takedown request. Minecraft’s usage guidelines were updated recently to add new restrictions around blockchain functionality. Additionally, Minecraft finally implemented its long-awaited ban on using NFT ownership to restrict access to in-game features. Microsoft bought Mojang and the Minecraft IP in 2014 for $2.5 billion, and Notch departed the studio he founded as a billionaire. Notch has not been officially involved with Minecraft since then and was apparently blocked from attending the game’s 10-year anniversary event in 2019 following a string of controversial and transphobic comments on Twitter. This is good news for Minecraft players, as it ensures that players are not being taken advantage of in the game and that the game is fair for all players. #Minecraft #Notch #Microsoft #Mojang #Decrypt

You can read more about this topic here: Decrypt: Minecraft Creator Notch: ‘Glad They’re Cracking Down’ on Bitcoin Reward Servers

The post Notch Praises Government Crackdown on Bitcoin Reward Servers in Minecraft first appeared on Byte Syze Crypto.

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HTX, the Seychelles-based crypto exchange formerly known as Huobi, has lost $7.9 million worth of ETH to a hacker less than one month after the company’s rebranding. Tron founder and HTX advisor Justin Sun confirmed the hack on Twitter on Monday, however, HTX has covered the losses and all user assets are safe. The hacker’s addresses have been identified and HTX is looking to recover the funds with a 5% reward incentive and a job offer as a security white-hat advisor. Binance CEO Changpeng Zhao also said Binance’s security team would assist in tracking the hacker’s funds where possible. This follows an estimated $54 million in assets lost to hackers connected with North Korea’s Lazarus Group by CoinEX earlier this month. #CryptoExchange #CryptoHack #HTX #Binance

You can read more about this topic here: Decrypt: HTX Loses $7.9 Million To Hacker, Asks For Money Back

The post “Hackers Steal $7.9 Million from HTX – Can They Get Their Money Back?” first appeared on Byte Syze Crypto.