BlackRock Refiles Bitcoin ETF 🪨

GM. This is Degen Scoop. It’s independence day for the Americans, here’s your crypto scoop:

• BlackRock Refiles Bitcoin ETF 🪨

• Revolut Delists $MATIC, $SOL, and $ADA 💸

• AzukiDAO Gets Hacked 💀

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

BlackRock Refiles Bitcoin ETF To Correct Flaws

The news that BlackRock filed for a spot Bitcoin ETF is arguably the most bullish news of the entire bear market. There were rumors that there were flaws in the filing, so BlackRock and every other institution that filed for a spot Bitcoin ETF also made the decision to refile. The main issue that caused many to refile was that the custodian of funds was not named: Coinbase (up 11% on the day).

For BlackRock, the primary difference found in the filing is the necessity of a surveillance agreement with Coinbase. Alongside its custodian duties, Coinbase will be expected to provide pricing data. While other institutions named Coinbase for the SSA, it’s curious if they do business with others outside of BlackRock. Since the first spot Bitcoing ETF filing, Bitcoin is up about 20% showing the eagerness from investors on speculating. By February, the SEC must provide a yes or no to BlackRock.

Revolut Delists Polygon, Solana, and Cardano for American Investors

American investors continue to suffer at the hands of Gary Gensler and the ‘protection’ he provides. The impetus behind this change is the fact that $MATIC, $SOL, and $ADA have been defined by the SEC as securities which makes these assets toxic to institutions. There are certain regulations surrounding the trading of securities, so it’s easier to delist the aforementioned tokens instead of complying.

Revolut users that are American must sell these holdings of theirs by September 18th otherwise the company will sell the tokens for users. This is not the first instance of this happening, Robinhood and eToro have done the same in past weeks. American users are the only that are subject to this change because of the SEC, users in other markets will remain unaffected.

AzukiDAO Gets Hacked During Governance Vote

Just yesterday we spoke about the governance vote that sought to undo the damage from the Azuki Elementals mint. It seems that there was a vulnerability in the BEAN token that was exploited by hackers.

As a result of the hack, the attacker made off with some 35 ETH. While not nothing, it would appear that the damage was relatively minimal. One of the primary concerns regarding the Elementals mint was that the 20,000 ETH coming from the mint was immediately sent to an exchange. The funds were presumably headed towards TradFi rails, but this didn’t satisfy holders.

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Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

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DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.