It is safe to say that Binance US – the American subsidiary of the world’s leading cryptocurrency exchange – has passed through turbulent times, witnessing considerable customer withdrawals and diminished trading volume in the past several months. According to the market data provider Kaiko, weekly trade volumes on the platform have recently plunged to a...Read More
As the world’s leading crypto exchange continues its battle against the SEC – and other U.S. regulators – requests for extra documentation abound. Judge Accuses SEC Of Overreach Earlier this week, the SEC complained about the quality of information made available to its personnel, stating that Binance and its U.S. arm had only turned over...Read More
The lawsuit between Ripple and America’s securities regulator – the US SEC – is undoubtedly one of the trendiest topics in the cryptocurrency space. The legal battle started in 2020 when the watchdog accused the former and its management team of breaching laws and using the alleged unregistered security XRP to raise funds. Since then,...Read More
The US Securities and Exchange Commission (SEC) has claimed that Binance has failed to provide sufficient documentation despite previously agreeing to expedited discovery. BAM, the organization responsible for Binance’s US affiliate, has submitted approximately 220 documents. However, the SEC’s legal representatives have alleged in a new filing that many of these documents consist of “unintelligible”...Read More
Attorney John Deaton, known for his representation of XRP token holders involved in the legal battle against the US Securities Exchange Commission (SEC), has officially filed a formal notice of appearance as an Amicus Curiae in the LBRY lawsuit. This recent development follows LBRY’s filing of an appeal notice to the United States Court of...Read More
The crippling space of Binance US faced a critical decision regarding its future. Here’s the inside scoop on what transpired: The company explored the possibility of selling shares held by Binance co-founder Changpeng Zhao (CZ) to stay on track with its growth plans. However, it ultimately opted to reduce its workforce by one-third instead. Is...Read More
Binance the crypto giant is facing legal trouble, senior resignations, and even DOJ investigations. Binance’s token, BNB, is taking a hit. Could it be that Binance is selling Bitcoin from its balance sheet to support its token? In a recent X post, Deaton is now wondering if Binance will challenge the SEC’s decision to keep...Read More
Nasdaq, the renowned stock exchange, has officially filed with the Securities and Exchange Commission (SEC) to list an Ethereum ETF in partnership with Brazilian asset manager Hashdex, who expressed interest in holding both spot ether and futures contracts. Nasdaq Partners with Hashdex on ETH ETF Application The partnership will result in the creation of the...Read More
Things have settled down a little since the SEC’s court losses against Ripple and Grayscale. However, the head of the federal regulator remains committed to crushing the industry by enforcement actions rather than regulation. In written testimony to the Senate Banking Committee on Sept. 12, Gensler said: “There is nothing about the crypto asset securities...Read More
Brad Garlinghouse – Chief Executive Officer of Ripple – revealed in a recent interview with Bloomberg that 80% of the the crypto firm’s staff hiring this year will be outside the United States. Recall that the entity has an ongoing legal battle with the US Securities and Exchange Commission (SEC). The latter accused the former...Read More
According to the popular cryptocurrency analyst Shannon Thorp, the price of Ripple’s native token could blast beyond $500 in the future. She based her bold prediction on a recent report that estimated that the total value of cross-border payments might reach $250 trillion by 2027. XRP Hitting the $500 Mark? Thorp shared some key points...Read More
Linus Financial, a Nashville-based crypto platform, has settled its dispute with the SEC out of court. Previously, the project offered pooled crypto investment opportunities to its users in exchange for fiat. However, the firm voluntarily winded down its operations when a similar firm got into hot water with the securities regulator over a nearly identical...Read More
Although Ripple scored a partial court victory against the SEC earlier this summer, the battle is far from over, as the agency has formally requested the right to appeal against the decision. The US securities regulator’s response comes after the deadline for Ripple to present its opposition passed on September 1. Recall arguably the most...Read More
LBRY plans to challenge a New Hampshire federal judge’s ruling that sided with the Securities and Exchange Commission (SEC) that declared the platform’s token sales as unregistered securities. The appeal comes after blockchain firm Ripple scored a partial victory in its fight with the country’s federal regulator. Prominent asset manager Grayscale’s most recent win is...Read More
After handily defeating the regulator in court, Grayscale sent a letter to the Securities and Exchange Commission (SEC) on Tuesday with key messages for the agency as it pursues next steps. Given the court’s ruling, Grayscale emphasized that the commission has run out of reasons to continue denying the launch of a Bitcoin spot ETF....Read More
Outflows have significantly slowed down, with bitcoin products showing resilience amidst a flatlined market trend. According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report,’ there is a glimmer of hope that negative sentiment may be starting to shift, as highlighted by the firm’s Head of Research, James Butterfill. Butterfill observed that...Read More
Jay Clayton – former Chairman of the US Securities and Exchange Commission (SEC) – thinks the regulator will sooner or later approve the launch of a spot Bitcoin exchange-traded fund (ETF). The agency recently decided to delay the applications of BlackRock and numerous other finance giants who displayed ambitions to introduce such a product. Clayton...Read More
According to insights shared by lawyer John E. Deaton, the ongoing SEC lawsuit against Ripple has had a negative impact on the adoption of XRP. The lawyer, following the legal proceedings, recently took to X to highlight a notable example of how the lawsuit hindered the cryptocurrency’s adoption. Deaton’s observation comes as a shared personal...Read More
A little-discussed memo from the Securities and Exchange Commission (SEC) from five years ago may suggest that the agency faced internal struggles in concluding whether XRP was a security, according to crypto lawyer John Deaton. This may indicate that Ripple – the company behind XRP – was not legally reckless in issuing the token years...Read More
The United States Securities and Exchange Commission (SEC) brought its first enforcement action against a player in the non-fungible token (NFT) space charging Impact Theory of engaging in an unregistered securities offering. The financial regulator claimed that Impact Theory – a Los Angeles-based media and entertainment – sold approximately $30 million of NFTs while also...Read More
Ripple Labs is gearing up for a celebration after its significant win against the Securities and Exchange Commission (SEC) in New York City, scheduled for September 29, 2023. The company promised to unveil more details about this event in the coming week. 🎉 Save the Date 🎉 We’re hosting a community celebration on September 29...Read More
The US Court of Appeals for the DC Circuit overturned the country’s securities regulator’s rejection to review Grayscale’s application to turn its flagship fund into a spot Bitcoin ETF. Recall that the asset manager sued the Securities and Exchange Commission earlier this year. The Tuesday ruling ordered the SEC to “vacate” its decision to refute...Read More
Though many doubted their odds, Grayscale has defeated the Securities and Exchange Commission (SEC) in court, bringing the U.S. market one step closer to approval of a Bitcoin spot ETF. Going into its lawsuit, certain legal and market experts saw Grayscale’s victory as quite likely: Here are just a few of them Why Grayscale’s Victory...Read More
The U.S. Court of Appeals for the D.C. Circuit has released its full letter explaining its decision to rule in Grayscale’s favor in its lawsuit with the Securities and Exchange Commission (SEC). The decisive 3-0 victory for the company is based on the SEC’s “unreasonable” justification for favoring futures ETFs over spot products, and its...Read More
Crypto markets pumped $65 billion following the news that a court ruled in favor of Grayscale in its lawsuit challenging the SEC’s decision to deny conversion of its GBTC fund to an ETF. The big move has reversed the recent bearish sentiment as market analysts and observers are now eyeing the next bull cycle. On...Read More
US Representative Warren Davidson continues to push for Gary Gensler’s removal as the chairman of the Securities and Exchange Commission (SEC) following Grayscale’s recent win in court against the agency. Industry stakeholders and the broader crypto community believe Gensler and the SEC’s regulation by enforcement approach towards the crypto industry caused more harm than good...Read More
Grayscale CEO Michael Sonnhenshein spoke to CNBC’s Squawk Box on Wednesday on his company’s latest victory in its lawsuit against the Securities and Exchange Commission (SEC). While discussing next steps and the possibility of appeal, Sonnhenshein promised that Grayscale’s fees are prepared to drop should its Bitcoin trust successfully convert into an ETF. What’s Next...Read More
On Aug. 30, the United States District Court for the Southern District of New York dismissed the suit against the decentralized exchange, its CEO, and its venture capital backers. The suit was brought by six individuals who bought what they alleged were scam tokens on Uniswap between December 2020 and March 2022. The plaintiffs claimed...Read More
Two Bloomberg exchange-traded fund (ETF) analysts, Eric Balchunas and James Seyffart, predicted that there is a 75% chance the United States will have a spot Bitcoin ETF by the end of 2023, following Grayscale’s win against the US Securities and Exchange Commission (SEC). While the SEC has approved future-based Bitcoin ETFs, the Commission is yet...Read More
As the US Securities and Exchange Commission (SEC) faces mounting political pressure to greenlight a bitcoin ETF following its recent court loss, there’s an opposing viewpoint that insists on maintaining the current stance. However, CoinShares product head Townsend Landing believes the financial regulator is stuck in a maze of its own making. ‘Hoist With His...Read More
