Grayscale secured a landmark win for the crypto industry and potentially open the door for its first U.S. spot bitcoin exchange-traded fund (ETF) after a federal court Tuesday sided with the world’s largest bitcoin trust and found that the Securities and Exchange Commission (SEC) must review its rejection of Grayscale Investments’ attempt to convert the Grayscale Bitcoin Trust (GBTC) into an ETF.
Bitcoin broke above the $31,000 level on Friday, continuing its mid-June surge and building on its recent gains fueled by the biggest Wall Street institutions’ filing applications for the first spot Bitcoin ETF in the U.S.
The Securities and Exchange Commission is continuing its target against the world of crypto, suing the world’s largest crypto exchange Binance and its billionaire founder, Changpeng Zhao on Monday by alleging the company commingled billions of user funds and diverted those assets to an entity “owned and controlled” by Zhao.
Bitcoin soared past a crucial $30,000 level late Monday evening, reaching the highest level for the first time in 10 months and topping a key resistance zone.
Embattled FTX founder Sam Bankman-Fried has been arrested in the Bahamas Monday evening after federal prosecutors in Manhattan filed criminal charges, setting the stage for extradition to the U.S.
JPMorgan Chase CEO Jamie Dimon ridiculed cryptos as a “complete sideshow” that are useless as “pet rocks” while bashing regulators for beating up on big banks instead of focusing on the growing crypto industry.