Golden Morning Post | Nasdaq sets the reference stock price of Coinbase at $250

Headline

▌NASDAQ Sets Coinbase Reference Stock Price at $250

Jinse Finance reported that Goldman Sachs and Nasdaq have set the reference price for Coinbase’s direct listing at $250 per share. This figure is 27% lower than Coinbase’s last traded price ($343.58 per share) on the private secondary market. Assuming an estimated 266.2 million shares outstanding, it should be valued at $66.5 billion.

▌Assistant President of the Hong Kong Monetary Authority: Strive for the People's Bank of China to test the use of digital renminbi in Hong Kong

Bao Keyun, assistant president of the Hong Kong Monetary Authority, said that the People's Bank of China has already assisted the People's Bank of China in testing the use of digital renminbi in Hong Kong. It has previously assisted the People's Bank of China in conducting cross-border consumption tests. In the future, it will discuss with the People's Bank of China how to expand the test scenarios. However, the implementation timetable is always determined by the People's Bank of China. During the test phase, the HKMA will continue to coordinate with the mainland so that when the digital renminbi is implemented across the country in the future, citizens can benefit when they go north.

Market

As of press time, according to Huobi global data:

The latest transaction price of BTC is 63226.60 US dollars, with an intraday increase and decrease of -0.14%;

The latest transaction price of ETH is 2287.79 US dollars, with an intraday increase and decrease of +0.55%;

Golden hot search-zce list: OMG is at the top of the list: According to the data of Golden Finance and Economics ranking list, in the past 24 hours, OMG ranked first in terms of search-zce volume. The specific top five list is as follows: OMG, CVT, TRUE, STORJ, BHD. [2020/9/29]

The latest transaction price of BCH is 740.19 US dollars, with an intraday increase and decrease of +1.02%;

BSV's recent transaction price was $296.06, with an intraday increase and decrease of +5.90%;

The most recent transaction price of EOS is $7.41, with an intraday increase and decrease of +0.74%;

LTC's recent transaction price was $265.90, with an intraday change of -0.61%;

DOT's recent transaction price was $42.62, with an intraday increase and decrease of +3.89%.

Policies

▌U.S. senators are drafting bills to establish tax filing requirements for cryptocurrencies

Jinse Finance reported that U.S. Senator Rob Portman said at a hearing of the Senate Finance Committee on Tuesday that he is drafting a bill that will establish tax reporting requirements for cryptocurrencies. Portman said: We are working on a cryptocurrency bill that will define cryptocurrencies for tax purposes and try to provide appropriate reporting rules. Portman also sought feedback on the topic from IRS Commissioner Charles Rettig. Rettig said reporting requirements for cryptocurrencies could help narrow the tax gap.

Exclusive | Jinse Finance's February 14 mining revenue data broadcast: Jinse Finance reported that according to Inbit data, based on the BTC reference price of 71,100 yuan and the electricity price of 0.38 yuan/kWh, the current market price and return rate of mainstream BTC mining machines are currently on sale. This cycle is: Whatsminer M20S-68T (March futures 11,500 yuan, 231 days return), Innosilicon T3+-57T (new spot 9690 yuan, 268 days return), ant S17Pro-56T (new spot 12,500 yuan, 311 days 2 days payback), Avalon 1066-50T (new spot 6300 yuan, 214 days payback). [2020/2/14]

▌The Spanish Ministry of Finance warns cryptocurrency holders to file tax returns

The Spanish Ministry of Finance (Ministerio de Hacienda) has issued a warning that crypto assets are taxable income and that holders of cryptocurrencies may be fined if they do not declare them. According to a Telemadrid report, the Spanish Ministry of Finance estimates that around 15,000 Spaniards will have to include cryptocurrency ownership in their tax returns.

▌SEC Commissioner Announces Updated Version of Encrypted Token Safe Harbor Proposal

Hester Peirce, the crypto-friendly commissioner of the U.S. Securities and Exchange Commission (SEC), officially unveiled an updated version of her proposed regulatory safe harbor for token sales, Jinse Finance reported. In a public statement, Peirce said the proposal “seeks to provide a three-year grace period for network developers, subject to certain conditions, to facilitate participation and develop functional or decentralized networks without being subject to registration requirements under the federal securities laws.” Proposed changes include: 1. Token Buyer Protection requirements, which would include bi-annual updates to the Development Disclosure Plan and block explorers; 2. An exit reporting requirement, which would include an analysis by outside counsel to explain why the network Decentralization, or a statement that the tokens will be registered under the Securities Exchange Act of 1934; 3. Exit reporting requirements "In order to explain why the network is decentralized, an analysis by outside counsel should involve Content provides guidance".

Analysis | Golden disk: BTC/USDT night market bearish force: Golden disk analysts said: BTC/USDT night market bearish force, successively conquered the bulls' defense line, gold positions 7282 and 6998 are useless, but fortunately, MACD2 appeared on the 2-hour K-line chart However, given that the short-term decline is too fast, the condition for forming a rebound is to slow down first, so it remains to be seen whether a rebound can be formed. [2018/8/5]

▌India’s Finance Minister: Upcoming Crypto Bill Will Protect Investors From Cryptocurrency Volatility

Jinse Finance reported that Anurag Thakur, India’s Minister of Financial and Corporate Affairs, said that the upcoming encryption bill will protect investors from the volatility of cryptocurrencies. Thakur said: "Unlike fiat currencies, cryptocurrency prices fluctuate so much that it affects investors. Therefore, when making laws, we need to keep in mind the protection of investors' interests." Representatives of the Indian crypto industry said, The government may be considering some form of market "circuit breaker," limiting the number of transactions on cryptocurrency exchanges under certain conditions. Most importantly, some argue, it is a stronger signal that a regulatory framework is emerging than the ban that had been feared earlier.

Blockchain Application

▌Former CIA Director: The Government Should Better Use Bitcoin Technology as a Forensic Tool

Jinse Finance Live Report Yang Ziyi, Technical Director of Ruilian Technology: Blockchain is to create a value Internet: Jinse Finance live report, at the "2018 Future of Alliance Chain and Ruilian Technology Blockchain Product Launch Conference", carried out " In the roundtable forum titled "The Future of the Consortium Chain", Yang Ziyi, technical director of Ruilian Technology, pointed out that everyone's understanding of blockchain technology is getting deeper and deeper, and even the concept of blockchain + has appeared. In traditional industries, the data of each system is in a state of isolation, but in the blockchain system, its greatest value lies in the interaction of data through chains, authorization authorization, etc. Blockchain is to create a value Internet, Rather than the current concept of information Internet. Once the standards of the blockchain industry emerge, the blockchain will become the underlying protocol and basic framework of the next-generation Internet. The alliance chain does not exist in isolation. The alliance chain must be the alliance chain + alliance chain, the value embodied in the complex network formed. [2018/5/31]

A new report by former CIA director Michael Morell argues that claims of criminals using bitcoin for illegal activities are "overblown." Morell said blockchain technology is a powerful but underutilized forensic tool that governments can use to identify illegal activity and bring criminals to justice. "The technology behind Bitcoin is 'good for surveillance' and should not be ignored by governments, but embraced."

Jinse Finance Live Report, Ryan Rabaglia: Many large institutions are waiting for regulation to come: At the 2018 World Digital Asset Summit (WDAS) and FBG Annual Conference, Ryan Rabaglia from Octagon Strategy said that in the blockchain industry and encryption field, Asia is leading, and some family offices in Asia have entered the field of cryptocurrency investment, while those in other regions are still choosing to wait. At present, many large investment institutions are waiting for regulatory decisions before deciding whether to enter. [2018/5/3]

▌Lockheed Martin adopts blockchain for supply chain management in Switzerland

Jinse Finance reported that US aerospace and defense contractor Lockheed Martin has signed an agreement with Silicon Valley distributed manufacturing platform SyncFab to modernize supplier capabilities across Switzerland to provide blockchain technology Another tangible use case. Under the new agreement, SyncFab will provide Lockheed Martin with direct access to its parts procurement and supply chain platform, which is built on the company's blockchain.

▌French automaker Hopium establishes blockchain technology subsidiary UNA in California, USA

French automaker Hopium officially launched its blockchain technology subsidiary UNA in California. Hopium will serve the automotive market with the help of a decentralized encryption system while achieving blockchain decarbonization goals. The UNA blockchain aims to improve the balance between people, machines and the environment.

Cryptocurrency

▌Coinbase will distribute 100 shares to all full-time employees

Jinse Finance reported that Coinbase has decided to distribute 100 shares to each of its approximately 1,700 full-time employees around the world. Based on a reference price of $250 set by Nasdaq, each employee at the company will receive $25,000.

▌Ripple CTO: It’s time to “seriously consider” selling some cryptocurrencies

Golden Finance reported that Ripple Chief Technology Officer David Schwartz said on Twitter that if you own a life-changing amount of cryptocurrencies, please take some time to seriously consider selling some cryptocurrencies to reduce risk and exposure. At the same time, he added that this is not any prediction of the direction of the market.

▌MicroStrategy shares rise to a one-month high

Shares of MicroStrategy ( MSTR ) rose to a one-month high on Tuesday as bitcoin rallied, hitting an intraday high of $770 on the New York Stock Exchange, up 10%, the highest level since March 11. MicroStrategy's total market cap is currently $7.5 billion. Previously, MicroStrategy held 91,579 BTC.

▌Foreign media: The US Postal Service plans to support postage NFT

The United States Postal Service (USPS) will soon enter the NFT market, and instead of publishing artwork or music, it will help customers buy postage. Communications-as-a-service platform CaseMail said in a Tuesday announcement that the USPS has certified its postage NFT for use in the United States. Tokens are digitally stamped on USPS ePostage labels as well as physical items mailed, creating a verifiable chain of custody for digital and physical assets as all data is recorded on the blockchain.

▌Analysis: Bitcoin traders seeking upside exposure are pushing up futures premiums

Bullish sentiment on bitcoin is heating up as bitcoin breaks through a record high of $63,000 on Tuesday, CoinDesk wrote. For the 3-month contract, the annualized premium between the bitcoin futures price and the spot price is now close to 50%. According to a new report from cryptocurrency research firm Arcane Research, this suggests that traders are very willing to gain upside exposure to Bitcoin futures.

▌CoinShares announced the launch of XRP ETP

Cryptocurrency management company CoinShares announced the launch of a new XRP exchange-traded product (ETP), trading under the symbol XRPL, Jinse Finance reported. The ETP will initially be listed on regulated Swiss exchange SIX Swiss with a base fee of 1.50% per annum.

Key Economic Developments

▌The U.S. 10-year Treasury yield fell by nearly 2 basis points in the short term

Markets show that the yield on the 10-year U.S. Treasury bond fell nearly 2 basis points in the short term to 1.634%.

Golden Encyclopedia

▌What is layer2? Read the Ethereum expansion plan in one article

The technical solution of Layer 2 is to put some calculations and operations that were originally performed on Layer 1 under the premise of keeping the functions of Layer 1 sufficiently simple, powerful and stable.

Simply put, Layer 2 is a solution for scaling outside the Ethereum blockchain. So far, among the Layer 2 expansion solutions, the most discussed are ZK Rollup, Optimistic Rollup, Validium and Plasma.

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