Robinhood, a crypto and stock trading platform, has completed a nine-figure buyback of its own shares from the former executives of FTX, including Sam Bankman-Fried and Gary Wang. The purchase was worth $605.7 million and secured 55,273,469 HOOD shares. The company funded the purchase from its balance sheet and the Board of Directors had authorized […]
Former SEC chair Jay Clayton believes that the approval of spot Bitcoin exchange-traded funds (ETFs) is inevitable. On Aug. 31, the SEC designated a longer period in which it could review spot BTC ETF applications from major firms such as BlackRock, WisdomTree, VanEck, Invesco Galaxy, Bitwise, Valkyrie and Fidelity. The commission has another 45 days […]
Robinhood, a popular retail trading platform, has announced that its self-custodial web3 wallet now supports in-app swapping on the Ethereum (ETH) network. Select users can now swap for more than 200 tokens on Ethereum starting Wednesday, August 30th, and the feature will be available for all users in the coming weeks. Unlike other wallets, the […]
The U.S. Securities and Exchange Commission (SEC) has been hesitant to approve a Bitcoin exchange-traded fund (ETF) in the United States. However, this may not be an impossible obstacle to overcome. The SEC has been reluctant to approve a Bitcoin ETF due to the lack of regulation in the cryptocurrency market. This has caused the […]
The past few days have seen an increased number of developments in the crypto industry, mostly surrounding the potential launch of a spot Bitcoin ETF in the States. Grayscale won a court battle against the SEC, which resulted in a two-week peak of Bitcoin at just over $28,000. However, the Securities and Exchange Commission delayed […]
Robinhood has been approved by a federal court in the Southern District of New York to repurchase shares seized from Sam Bankman-Fried’s Emergent Fidelity Technologies for $605.7 million. Bankman-Fried had previously held a 7.6% stake in Robinhood, and had expressed enthusiasm about the company’s prospects. However, the bankruptcy of FTX led to the seizure and […]
The Cambridge Centre for Alternative Finance (CCAF) has released a new study titled “Bitcoin electricity consumption: an improved assessment” which has sparked conversations among crypto enthusiasts and environmentalists. Daniel Batten, a prominent climate activist and Bitcoin environmental analyst, commented on the matter, noting that the CCAF model overestimated the BTC energy demand by 16.8% in […]
Robinhood, the popular online brokerage firm, has reached an agreement with the United States Marshal Service to repurchase shares previously associated with Sam Bankman-Fried’s Emergent Fidelity Technologies, amounting to $605.7 million. The shares were seized and transferred to the U.S. government after Bankman-Fried’s FTX and Emergent filed for bankruptcy protection last year. Investors responded positively […]
Robinhood, a cryptocurrency and stock trading platform, has completed the purchase of 55,273,469 shares from former FTX CEO Sam Bankman-Fried and FTX co-founder Gary Wang. The shares, originally held by Emergent Fidelity Technologies, were seized by the U.S. Department of Justice in January. The purchase, which cost Robinhood roughly $606 million, was approved by the […]
Bitcoin (BTC) has returned to the $26,000 price level after a U.S. court ruled in favor of digital asset management company Grayscale Investments in its lawsuit against the Securities and Exchange Commission (SEC). The ruling ordered the SEC to vacate its decision to reject Grayscale’s application to turn its flagship fund into a spot Bitcoin […]
