It appears that years after the first Bitcoin ETF proposal was filed, the United States Securities and Exchange Commission (SEC) has decided to greenlight a futures-backed exchange-traded fund for the first time. ProShares, the company which filed for its Bitcoin Strategy ETF, might be the very first one to see it launch next week. It...Read More
For the first time since April, Bitcoin’s price is back at $60,000. It’s a major psychological level, even though, from a technical standpoint, it doesn’t contain that much resistance. In any case, this followed a considerable weekly increase and rumors of the approval of a futures-backed Bitcoin ETF in the US. Let’s take a dive....Read More
Just four months after the application, Volt Equity’s Volt Bitcoin Revolution ETF has received the green light from the US Securities and Exchange Commission. It will provide investors the option to invest in companies with direct exposure to BTC, such as MicroStrategy. Back in early June this year, the California-based firm Volt Equity filed with...Read More
Better Markets, a non-profit independent organization promoting public interest in financial markets, has reported that it would welcome any action by the SEC investigating insider trading at the Fed. On Oct. 6, Dennis Kelleher, co-founder, and President of Better Markets stated that a thorough, independent investigation by the SEC is so important. He stated that...Read More
Accesswire published a press release today claiming that Ripple had finished its battle with the SEC. Stuart Alderoty– General Counsel for Ripple– promptly responded by calling the story false. Accesswire has since removed the story from their site. What Did The Press Release Say? Though the original link has been taken down, Accesswire’s article was...Read More
The United States Securities and Exchange Commission (SEC) Chairman, Gary Gensler, has once again renewed his support for the approval of Bitcoin Exchange-traded Funds (ETFs) in the country. Gensler told the Financial Times’ Future of Asset Management North America conference that his main focus is on Bitcoin ETFs that invest in futures contracts and trade on...Read More
David Ignatius of the Washington Post interviewed SEC chair, Gary Gensler, on the cryptocurrency landscape, his thoughts on his approach to regulating the crypto space. Gensler expresses optimism for the possibilities crypto provides for enhancing finance, but also that he believes most of the space should fall under regulatory supervision – including stablecoins. At the...Read More
In an update to a blog post from months prior, Coinbase has withdrawn its plans to launch a USDC APY lending program on the platform in response to mounting legal pressure from regulators. Coinbase Bends to the SEC The news was quietly released this Friday when Coinbase updated its June blog post that announced an...Read More
The American financial services corporation – Fidelity Investments – urged the U.S. Securities and Exchange Commission (SEC) to approve its Bitcoin exchange-traded fund. According to the company, the regulator should allow the initiative as investors’ demand for digital assets has significantly increased recently. Looking for The SEC’s Approval According to a recent filing, the multinational...Read More
The United States Securities and Exchange Commission (SEC) continues with its efforts to clamp down on illegal initial coin offerings. This trend started a couple of years back when ICOs were at their prime but has steadily escalated in 2020 and 2021. SEC Charges Rivetz Corp CEO for $18 Million According to an official litigation...Read More
The largest digital asset manager – Grayscale Investments – has announced that the Bitcoin Cash Trust, the Ethereum Classic Trust, and the Litecoin Trust have become SEC reporting products. Thus, the total number grew to six. Speaking to Forbes, Grayscale’s CEO – Michael Sonnenshein – indicated that the company’s portfolio of funds reporting to the...Read More
Brian Armstrong took to Twitter on Sept. 8 to defend his company’s position against the latest onslaught from Uncle Sam’s heavy-handed financial regulator, the SEC. In a blog post titled “The SEC has told us it wants to sue us over Lend. We don’t know why.” Coinbase’s Chief Legal Officer, Paul Grewal, explained the situation...Read More
The legal case between the United States Securities and Exchange Commission (SEC) and the blockchain company Ripple Labs continues to intensify and this time, the regulator has been granted access to the payment processor’s employee Stack communications. A Win for the SEC As reported by Law360, the SEC earned the discovery win after US Magistrate...Read More
The Securities and Exchange Commission has purportedly started an investigation against Uniswap Labs – the leading developer of the giant DEX Uniswap. According to a WSJ report from earlier on September 3rd, the top US securities regulator has gone after the developers of the largest decentralized cryptocurrency exchange – Uniswap Labs. Citing people familiar with...Read More
Years after halting its services, the saga with BitConnect has taken another turn as the SEC has filed an action against the founder and some of the promoters. The Commission has alleged that they have swiped more than $2 billion from retail investors through an unregistered offering of digital assets. The SEC Files Charges Against...Read More
Amidst an ongoing legal tussle with the securities and exchange commission, Ripple defendants have fired back with a motion to expose the XRP holdings of SEC employees, a token they have alleged is an unregistered security. RIpple’s Recent Motion On August 27th, attorney James Filan unveiled Ripple’s new motion demanding the SEC to produce documents...Read More
A spokesperson for AnChain.AI, a blockchain analytics firm, recently revealed a $600 000+ contract with the Securities and Exchange Commission to help the agency regulate and monitor the DeFi space. AnChain’s Contract with the SEC The contract – which began in May of 2021 – has an initial value of $125 000, which may escalate...Read More
The US Securities and Exchange Commission could finally greenlight a Bitcoin futures ETF in the next two months, predicted analysts from Bloomberg. The strategists outlined the recent withdrawals for Ethereum futures ETF applications as the primary reason behind their optimism. Bitcoin Futures ETF in the US Coming Shortly? The topic of whether or not the...Read More
In his second crypto-focused endeavor in the private sector, Former SEC chairman Jay Clayton will be joining a $2 billion crypto-custodian based in Israel, known as “Fireblocks.” Why Clayton Joined Fireblocks Fireblocks was launched in 2019 and has seen impressive growth since, having already acted as custodian for over $1 trillion in assets and scaled...Read More
The number of cryptocurrency-related companies aiming to go public continues to increase, with the latest example being Iris Energy Pty. The firm, focused on green Bitcoin mining, has filed with US regulators for a direct listing on Nasdaq this year. Based in Sydney, Australia, Iris Energy is a Bitcoin mining firm that “owns and operates...Read More
After filing with the SEC to receive approval for a Bitcoin ETF in April this year, Galaxy Digital has reportedly tried again – this time, under a different section. Novogratz’s company wants to launch a Bitcoin futures-only exchange-traded fund. Bloomberg’s senior analyst, Eric Balchunas, took it to Twitter to highlight Galaxy Digital’s latest attempt to...Read More
The global investment management company VanEck has filed again for a Bitcoin Strategy exchange-traded fund (ETF). The US firm has tried several times in the past few years but the SEC is yet to approve a single BTC ETF. New York-based investment firm VanEck submitted an application to the SEC to roll out a BTC...Read More
According to a recent press release, the popular cryptocurrency exchange, Poloniex, has agreed to pay a fine upwards of $10 million to the United States Securities and Exchange Commission. The release reads that the company has agreed to pay the fine for operating an unregistered digital asset exchange. According to the order of the SEC,...Read More
The Securities and Exchange Commission has targeted the Cayman Island-based Blockchain Credit Partners (BCP), along with Gregory Keough and Derek Acree, for selling unregistered securities from February 2020 to February 2021. $30 Million Trough Token Sales According to a recent press release, the executives allegedly used smart contracts to sell two types of tokens that...Read More
Just a few days after filing a motion to receive access to “obtain international discovery” of records belonging to Binance, US Magistrate Judge Sarah Netburn has approved Ripple’s request. The documents should shed some light on the company’s XRP sales made on the exchange. Through its legal team, Brad Garlinghouse, the CEO of Ripple, filed...Read More
During an interview with Bloomberg, Gensler admitted that he is intrigued by the cryptocurrency space, but that wouldn’t deter him from protecting US investors via enhanced regulations on the market. Being deeply familiar with the blockchain space, as he taught DLT classes at the Massachusetts Institute of Technology (MIT), Gensler was expected to have a...Read More
The Securities and Exchange Commission obtained a temporary restraining order on a mother-son duo that embezzled more than $12 million from at least 277 investors. Throughout the years, the 86-year-old woman and her 54-year-old son promised to generate income for their clients via investing in securities and cryptocurrencies but instead swindled the funds for themselves....Read More
In its amended initial public filing (IPO) prospectus with the U.S. Securities and Exchange Commission (SEC), Popular stock trading platform Robinhood revealed that it is expecting its revenue to drop in Q3 2021 as a result of the cool-off in the trading activity of the cryptocurrency market. Robinhood Expecting Drop in Revenue With Robinhood planning...Read More
After the Bitcoin and Ethereum Trusts, Grayscale’s Digital Large Cap Fund has also filed and been approved to become an SEC-reporting product. Additionally, the largest digital asset manager has filed three more Registration Statements with the Commission. Grayscale Investments, the large cryptocurrency asset manager, filed a Registration Statement on Form 10 with the Securities and...Read More
After the US regulator postponed its decision about VanEck’s BTC ETF attempt, the watchdog has done the same with the application filed by Anthony Scaramucci’s SkyBridge Capital. CryptoPotato reported earlier this year when the global investment company based in NYC, SkyBridge Capital, filed with the SEC to launch a Bitcoin ETF. Should the product be...Read More
