Former CEO of investment firm Systematic Alpha Management LLC (SAM), Peter Kambolin, has pleaded guilty to running a fraudulent cherry-picking scheme. Kambolin admitted to fraudulently allocating profits and losses from futures trades while serving as a commodity trading advisor and commodity pool operator. The US Department of Justice revealed that Kambolin selectively assigned profitable trades […]
Venture capital firm Paradigm has come out in support of cryptocurrency exchange Binance, as it seeks to have charges brought against it by the US Securities and Exchange Commission (SEC) dismissed. Paradigm argues that the SEC does not have jurisdiction over the emerging cryptocurrency industry. The move comes as Binance faces increased scrutiny from regulators […]
The discount on Grayscale Bitcoin Trust (GBTC) has reached its lowest point this year, currently standing at 16.58% as of October 12th. This narrowing discount is closely linked to the impending deadline for the U.S. Securities and Exchange Commission (SEC) to file an appeal against its previous loss to the asset management firm. In August, […]
The United States Securities and Exchange Commission (SEC) is approaching its deadline to appeal a court decision in favor of Grayscale Investments. The court ruled that the SEC must review Grayscale’s application for a spot Bitcoin fund. While it is unlikely that the SEC will appeal the decision, analysts believe there are still ways for […]
Headlines proclaiming the death of NFTs have become common in the blockchain industry, but the reality is more nuanced. While it’s true that many NFTs are worthless, this is not surprising given the history of other tokens in the crypto market. Most ICO tokens from the 2017 bull market and DeFi protocol tokens from the […]
Ark Invest, led by Cathie Wood, has filed an updated version of its spot Bitcoin ETF prospectus in response to feedback from the U.S. Securities and Exchange Commission (SEC). The SEC had requested clarifications on certain concerns, and it appears that Ark Invest has addressed these concerns in its new filing. One notable change in […]
In his opening statement, Cohen revealed that Bankman-Fried, the majority owner of Alameda, had placed his trust in Ellison, the CEO, to handle the day-to-day operations of the company. However, when a downturn was anticipated, Bankman-Fried urged Ellison to implement a hedge to protect against potential losses. Unfortunately, Ellison did not take action at the […]
ARK Invest/21Shares has submitted an updated version of its spot Bitcoin Exchange-Traded Fund (ETF) prospectus, indicating a significant step forward in the approval process. The move comes after the SEC reached out to issuers with comments and questions about their S-1 filings. The updated prospectus addresses concerns raised by the SEC, particularly regarding Net Asset […]
Polygon, a blockchain platform, is revolutionizing the tokenization of assets by introducing its Polygon 2.0 protocol. This protocol consists of interconnected Layer 2 chains and a shared zero-knowledge bridge, enabling the seamless tokenization of various assets, including collectibles like Pokémon cards. Polygon’s goal is to cater to the needs of traditional finance and facilitate institutional […]
A recent amendment to the joint spot Bitcoin exchange-traded fund (ETF) application by ARK Invest and 21Shares is seen as a positive sign of progress and potential approval. The amendment includes additional information about the proposed ETF, addressing concerns raised by the Securities and Exchange Commission (SEC). Bloomberg senior ETF analyst Eric Balchunas believes that […]
