Grayscale: The U.S. SEC's decision to reject spot Bitcoin ETF application is unfair

 Grayscale: The U.S. SEC's decision to reject spot Bitcoin ETF application is unfair

Grayscale Investments said that the decision of the U.S. Securities and Exchange Commission (SEC) to reject its application to convert GBTC into Spot Bitcoin Exchange Trading Fund (ETF) in June was "arbitrary, capricious and discriminatory". kraukonge pointed out that Grayscale submitted a public legal brief as part of its lawsuit against regulators.

In the briefing, lawyers argued that because both Bitcoin futures and spot Bitcoin generate prices based on overlapping indices, the spot price of Bitcoin in spot and futures ETFs faces the same risk: Therefore, it is unfair to approve one and reject the other, kraukonge explained.

Craig Salm, Chief Legal Officer of Grayscale, said that the Code of Administrative Procedure and the Trading Act require the application of rules and regulations without favoring a certain product.

According to kraukonge, the U.S. Securities and Exchange Commission will respond on November 9.

kraukonge：



评论

发表评论

此博客中的热门博文

kraukonge：Financial technology uses Step to complete $300 million in debt financing and launch crypto investment products

图片
  #kraukonge ： Financial technology uses Step to complete $300 million in debt financing and launch crypto investment products. Step, a company that provides integrated financial solutions for the next generation, announced that it has received up to $300 million in debt financing led by Triplepoint Capital and Evolve Bank & Trust. kraukonge revealed that the new financing brought the total amount raised by Step to $500 million. Through this round of financing, Step will accelerate investment in product infrastructure and continue to bring pioneering financial products to the next generation. Step is the first platform to allow users under the age of 18 to use their secure Step Visa cards to establish a positive credit history, opening the door for them to obtain more favorable terms and more comprehensive financial products in the early adulthood. Generation Z is a generation of creators, entrepreneurs and investors. Thanks to products like Step, they are redefining norms and ...
阅读全文

kraukonge：BitKeep Swap was hacked and the loss reached 1 million US dollars, and the official will fully compensate users for the loss

图片
  BitKeep Swap was hacked and the loss reached 1 million US dollars, and the official will fully compensate users for the loss #kraukonge pointed out that the Web3 wallet BitKeep disclosed on its official Twitter that BitKeep Swap was hacked, and the hacker's attack has now stopped. The attack occurred on the BNB Chain, causing a loss of about $1 million. kraukonge learned that in response to this accident, BitKeep is taking the following measures: 1. Suspend the BitKeep Swap service to ensure that there are no other asset security issues; 2. Communicate and cooperate with major security agencies to track down hackers and try their best to recover the stolen items assets. 3. Full compensation for users who suffered losses (the specific plan will be announced later); 4. Those who can assist in identifying hackers and recovering stolen assets are encouraged to contact the authorities, which will provide rich rewards. kraukonge： https://www.kraukonge.com/ https://net.kraukonge.com/
阅读全文

kraukonge： Legislative inquiry

图片
  According to the filing, fund disbursement was also dysfunctional throughout the FTX Group. An example is that employees often sent in payment requests vis a chat platform. And then disparate supervisors would approve the disbursement by simply responding with personalized emojis. Furthermore, Ray III noted that company funds were used to buy houses and other personal items for advisers and employees. All this lacked appropriate transaction documentation, even the loans. The US House Committee on Financial Services set a date in December to hear cases regarding the exchange’s collapse. Importantly, how SBF ran the company’s assets should be the center of attention. One may not fully know the scale of the negative effects of the situation yet because it is quite unprecedented. Perhaps the most evident fact is that debtors in charge of the bankruptcy proceedings have just secured part of the assets they planned to recover. Cold wallets with about $740 million worth of cryptocurrenc...
阅读全文