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BlackRock has changed the mechanics for its proposed spot bitcoin ETF, allowing Wall Street banks to play a major role. This is because the highly regulated U.S. banking system cannot hold bitcoin itself. JPMorgan and Goldman Sachs, with their massive balance sheets, could act as authorized participants (APs) to BlackRock’s ETF. It’s not clear if they will. According to a memo filed in relation to a meeting between the Securities and Exchange Commission (SEC), BlackRock and Nasdaq on November 28, the cash APs used for this process could be converted into bitcoins by an intermediary and stored by the ETF’s custody provider.

Binance, Binance.US and Changpeng Zhao have argued in a recent filing that the U.S. Securities and Exchange Commission did not satisfy the requirements of “Howey Test,” in their suit against them and their founder. The SEC also failed to show that any of the exchanges U.S. customer contracts met the definition of “investment contracts” or that other aspects of the Supreme Court’s case had been met. The latest attempt to dismiss the SEC lawsuit was filed in June. In that case, the SEC claimed that Binance and Binance.US had allowed the public to trade and buy unregistered securities through the listing of certain cryptocurrencies.

Justin Sun, a crypto mogul, has stated that the assets on HTX and Poloniex that were stolen last month are “100% secure” following the hack.

Both exchanges are allowing withdrawals of certain digital assets. However, several altcoins still remain blocked. Bitcoin (BTC), and Tron(TRX) are two of the digital assets which can be withdrawn. Both tokens traded at a premium over the last few weeks on Poloniex, meaning users had to take a 10% haircut to liquidate one asset and withdraw another.

Hackers stole $114 Million from Poloniex hot wallets in November, followed by $97 Million stolen from Heco Chain and HTX.

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Sheldon Reback is the editor.