Began from Nov 9, the SEC has this unique “window” to give the thumbs up to all 12 spot Bitcoin ETF filings, even including Grayscale Investments’ conversion of its Grayscale Bitcoin Trust product by November 17. SEC Remains Silent Bitcoin enthusiasts and investors alike have been closely monitoring the Securities and Exchange Commission’s response to...Read More
The U.S. Securities and Exchange Commission (SEC) is struggling to recruit and retain crypto experts due to internal hiring restrictions, according to a new report from the agency’s Inspector General. The statement comes at a time when the SEC is highly focused on reigning in the blockchain industry, which its chairman Gary Gensler has described...Read More
The U.S. Securities and Exchange Commission (SEC) has fired back at Binance’s recent motion to dismiss the regulator’s lawsuit against the exchange, calling the latter’s arguments a “tortured interpretation of the law.” In an 88-page filing with the DC Circuit on Tuesday, the agency argued that Binance had ignored most of its core allegations in...Read More
The US Securities and Exchange Commission (SEC) has accused two former CEOs of collapsed California-based tech company Bitwise Industries, of alleged misrepresentation and fraud, which they used to raise funds from unsuspecting investors. The defunct company is not associated with the major crypto asset manager, Bitwise, even though both entities bear identical names. Former Bitwise...Read More
The SEC has a brief window on November 9 to potentially approve all 12 spot Bitcoin ETF applicants in the U.S. This opportunity will last at least eight days. The United States Securities and Exchange Commission (SEC) may approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications within this timeframe. Bloomberg ETF analysts James...Read More
In an interesting X post from earlier this week, former SEC Chief John Reed Stark (Office of Internet Enforcement) issued a scathing rebuke of the SEC for its treatment of Ripple Labs in a years-long XRP lawsuit. Prediction: Expect a Big Win for the SEC in the SEC/Terra Litigation and a Gracious (Yet Scathing) Rebuke...Read More
John Deaton, prominent crypto lawyer and founder of Crypto Law, has once again shared his opinion on the ongoing lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). According to a tweet, the pro-XRP lawyer believes that a settlement of $20 million or less in the lawsuit between the crypto company and the...Read More
The U.S. Securities and Exchange Commission (SEC) is calling for a conclusion to its legal battle with Terraform Labs and its co-founder Do Kwon, calling on a Manhattan judge to deliver summary judgment in the case. In the agency’s view, the evidence “is clear, undisputed and overwhelming,” that the crypto mogul violated securities laws in...Read More
PayPal Holdings, the financial giant that made headlines by adopting digital currencies for payments and transfers, is now facing a new development. The company revealed that it has received a subpoena from the U.S. Securities and Exchange Commission (SEC) regarding its PYUSD stablecoin. PayPal Faces SEC Subpoena Over PYUSD Stablecoin This revelation came to light...Read More
The crypto community celebrated the 15th anniversary of Bitcoin’s whitepaper on Tuesday, which marked the world’s first functional pitch for “peer-to-peer electronic cash.” Among its celebrators was Gary Gensler – the chairman of the Securities and Exchange Commission (SEC) so notorious for his strict enforcement actions against the crypto industry. In a tweet on Tuesday,...Read More
According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, digital asset investment products received a total of $326 million in inflows, marking the highest weekly influx since July 2022. The asset manager speculated that the rising optimism from investors that the US Securities and Exchange Commission would approve a spot-based Bitcoin...Read More
Stuart Alderoty, Chief Legal Officer of Ripple Labs, and critical members of the XRP community have endorsed SEC Commissioner Hester Peirce’s criticisms of what she considers to be “misguided enforcement-driven approach to crypto” by the regulatory body. Alderoty took the opportunity to thank Peirce for her disagreeing the views on the SEC’s actions against LBRY,...Read More
The Securities and Exchange Commission (SEC) has announced that it has charged BlackRock, one of the world’s largest investment management firms, for misleading investors by inaccurately describing its investments in the entertainment sector. The agency found that BlackRock failed to disclose certain risks associated with its investments, leading investors to make decisions based on incomplete...Read More
The U.S. Court of Appeals for the D.C. Circuit has reaffirmed its prior ruling, directing the Securities and Exchange Commission (SEC) to review Grayscale Investments’ proposal to convert the crypto company’s leading GBTC fund into a Bitcoin exchange-traded fund (ETF). This development comes after the SEC’s recent announcement that it does not intend to appeal...Read More
Binance.US has garnered support from a major crypto lobbyist group in warding off an ongoing lawsuit from the U.S. Securities and Exchange Commission (SEC). In a new amicus brief, the US Chamber of Digital Commerce argued that the agency’s claims against the exchange are misplaced, and that its actions are turning crypto businesses away from...Read More
XRP price has surged to $0.53, marking its highest point in the past 10 days. The fifth-largest crypto-asset had maintained a relatively stable range between $0.48 and $0.52. The latest data suggest that a cohort of addresses, dubbed the “smart money tiers,” has been accumulating since the start of October. XRP appears to be on...Read More
In a landmark decision, the U.S. Securities and Exchange Commission (SEC) has cleared Ripple’s CEO, Brad Garlinghouse, and Executive Chairman, Chris Larsen, of all ‘baseless’ allegations in a long-standing securities violation case. This development marks a significant victory for Ripple after enduring nearly three years of intense regulatory scrutiny. The SEC’s decision to dismiss charges...Read More
Elon Musk and Mark Cuban have joined forces to challenge the U.S. Securities and Exchange Commission’s (SEC) practice of conducting in-house trials without juries. The duo has presented a joint amicus brief to the Supreme Court, raising questions about the legitimacy of the SEC’s administrative proceedings and their implications for the Seventh Amendment right to...Read More
After a year’s worth of stonewalling spot Bitcoin ETF applicants, the SEC may be taking a more laid-back approach toward their proponents. Cordial Discussion With Applicants Following a failed bid to block Grayscale from creating an ETF via lawsuit, Cathie Wood – the CEO of Ark Invest – stated that she had noticed a welcome...Read More
Coinbase, one of the leading cryptocurrency exchanges, is pressing the Third Circuit Court to compel the U.S. Securities and Exchange Commission (SEC) to act on its long-pending rulemaking petition related to digital assets. The company has accused the SEC of bureaucratic delays and a lack of transparency, taking the legal showdown to a new level....Read More
Ark Invest, led by Cathie Wood, has taken a significant step forward by filing an updated version of its spot Bitcoin ETF prospectus. The move is in response to recent feedback from the U.S. Securities and Exchange Commission (SEC) asking for clarifications on some concerns. Changes to Ark Invest’s Spot Bitcoin ETF Prospectus Eric Balchunas,...Read More
TL;DR Jeremy Hogan estimates a 40% chance of a trial in 2024, a 32% chance of a settlement, and a 19% chance of an agreement by end of 2023. Some believe the SEC might extend the legal process to maintain uncertainty in the crypto sector. Yassin Mobarak suggests the SEC might drop charges against Ripple...Read More
Former BlackRock managing director Steven Schoenfield, who now serves as the CEO of MarketVector Indexes, predicts that the U.S. SEC will approve a Spot Bitcoin ETF within three to six months. Schoenfield shared this estimate during a panel discussion on ETFs at CCData’s Digital Asset Summit in London, where he was joined by another ex-BlackRock...Read More
District Judge Analisa Torres has dismissed the Securities and Exchange Commission’s (SEC) request to certify an interlocutory appeal aimed at overturning its recent and widely publicized courtroom loss against San Francisco-based blockchain tech company Ripple Labs. While this is a major win for Ripple, the SEC has not lost its ability to appeal. Instead, the...Read More
TL;DR Ripple achieved another legal victory as a federal judge dismissed the SEC’s appeal to a July ruling; Following this win, XRP’s price surged to nearly $0.55 amid a broader cryptocurrency market decline, marking its second significant price increase in response to legal developments. Six Months Left Ripple secured another major victory in its legal battle against...Read More
In a predictable move, the SEC filed a motion to oppose Coinbase’s motion to dismiss the case on Oct. 3. “It’s more of the same old same old,” said the exchange’s chief legal officer, Paul Grewal. The SEC sued Coinbase in June, a day after it went after Binance. It accused the firm of selling...Read More
TL;DR Ripple vs. SEC: In 2023, a judge ruled that XRP’s secondary sales aren’t investment contracts, boosting its price. XRP’s Rank: Despite the court’s positive stance, XRP remains outside the top 3 cryptocurrencies by market cap. Future of XRP: Its rank depends on adoption, market dynamics, competition in payment solutions, and macroeconomic trends. Ripple v....Read More
John E Deaton – a US attorney who represents thousands of Ripple investors in the lawsuit against the US Securities and Exchange Commission (SEC) – launched another bashing manifest towards the agency’s Chairman – Gary Gensler. The latter has been criticized for his negative approach to the cryptocurrency industry, with some arguing that the Commission’s...Read More
The cryptocurrency market has flashed green recently, with most digital currencies charting substantial gains. Bitcoin (BTC) – the largest by market capitalization – and XRP – Ripple’s native token – are undoubtedly amongst those. In this article, we will observe ChatGPT’s answer to the question of whether XRP has a chance to outperform the primary...Read More
Pablo Rodriguez – the co-founder of the cryptocurrency pyramid scheme AirBit Club – was sentenced to 12 years in prison months after pleading guilty to wire fraud conspiracy charges in a US District Court in March. Rodriguez and his co-conspirators were accused of orchestrating a global scam, enticing investors with false promises of cryptocurrency riches...Read More
