Crypto asset manager Grayscale Investments recently won a lawsuit against the U.S. Securities and Exchange Commission (SEC) in its effort to convert its Grayscale Bitcoin Trust (GBTC) into a Bitcoin exchange-traded fund (ETF). The SEC had alleged that the GBTC didn’t have enough safe practices and fraud protection in place. Judge Neomi Rao accepted Grayscale’s argument that the SEC’s rejection of its recent ETF application was unfair and granted the company a second review.Crypto is a volatile place and malicious actors have taken more than $45 million in digital assets from their victims in the month of August alone and a total of $997 million year-to-date. According to a report from cybersecurity firm CertiK, exit scams took around $26 million, flash loan attacks took $6.4 million, and exploits took $13.5 million from their victims in August. Bitcoin OGs, veterans and experts provide their opinions, tools and views on how to protect your crypto in a volatile market.The parent company of Hit Network, the folks behind the “BitBoy Crypto” brand, recently gave the boot to their public face, Ben Armstrong. The company alleged issues of substance abuse and financial damage as reasons behind the decision. Armstrong was also in a class-action lawsuit where investors accused him and other influencers of promoting FTX without disclosing how much they were getting paid by the exchange.The SEC has chosen to postpone delivering a decision on six applications for spot Bitcoin ETFs in the United States. The commission has opted to extend its review period by an additional, pushing the decision further into October on the calendar. In a surprising twist following the U.S. SEC’s announcement of delays, Bitwise has submitted a request to retract its application for its Bitcoin and Ether Market Cap Weight Strategy ETF. This application was originally submitted to the SEC on August 3. It seems that Bitwise is taking a step back to reconsider its approach despite the brief positive market sentiment that followed. The world’s biggest asset manager, BlackRock, is also in the same delayed decision boat.Robinhood bought back Sam Bankman-Fried’s stake from the US government for $606 million. Crypto and stock trading platform Robinhood scooped up more than 55 million shares of their own company that were previously owned by Sam Bankman-Fried, the former CEO of FTX. The purchase, which cost Robinhood roughly $606 million, was finalized this week after filing the paperwork with the U.S. SEC. These shares originally belonged to Bankman-Fried and Gary Wang, who is a co-founder of FTX through a company called Emergent Fidelity Technologies. However, back in January, the U.S. Department of Justice seized these shares. The purchase has been in the works for a while. Robinhood’s board of directors gave it the green light in its Q4 2022 report, and an SEC filing from August confirmed that the U.S. District Court for the Southern District of New York approved the purchase without any legal complications.At the end of the week, Bitcoin (BTC) is at $25,610, Ether (ETH) is at $619.45, and XRP is at $0.6.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | 🇺🇸 🇧🇷 |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Ivan Bianco, Ben Armstrong, Sam Bankman-Fried, Neomi Rao, Meier Dolev |
| Companies | Bitwise, U.S. Department of Justice, FTX, Grayscale Investments, SEC, U.S. District Court for the Southern District of New York, Emergent Fidelity Technologies, Hit Network, BlackRock, Robinhood |
| Currencies | IOTA, Polygon, Toncoin, Ethereum, XRP, Bitcoin |
| Securities | None |
