British Virgin Islands Court Orders Three Arrows Ordered to Liquidate
SEC Rejects Spot Bitcoin ETF Proposal, Grayscale Answers with Lawsuit
On Wednesday, June 29, the U.S. Securities and Exchange Commission (SEC) rejected a proposal to launch a Bitcoin Spot ETF. In October 2021, Grayscale announced plans to convert its bitcoin trust (GBTC) into a bitcoin exchange-traded fund (ETF).
The SEC says Grayscale did not meet standards to prevent fraudulent and manipulative market practices. The SEC listed wash trading, whale manipulation, exchange and network hacking, and stablecoin manipulation as some manipulative practices.
In response to the rejection of its Bitcoin ETF proposal, Grayscale revealed that it had filed a “petition for review” against the SEC. The lawsuit was filed with the United States Court of Appeals for the District of Columbia.
Grayscale CEO Michael Sonnenshein wrote that the firm was “deeply disappointed” and vehemently disagrees with the SEC’s decision to reject the...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...