Late evening shocker on the financial airways – The SEC rejects the Bitwise Bitcoin ETF proposal, well before Monday’s deadline decision date. Reporters on the late shift suddenly went into high gear, filling nearly every news channel with the shocking news. Matt Hougan, Bitwise's Head of Research, had just told everyone that, “We're closer than…
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Mati Greenspan, Senior Market Analyst at FX broker eToro, has provided his daily commentary on traditional and crypto markets for October 10, 2019. The text below is an excerpt and does not contain the full analysis. Hi Everyone, Perhaps one of the oddest harbingers in our current global economy is the staggering amount of negative-yielding…
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SEC, in surprise move, rejects the Bitwise BTC ETF proposal before the mandated deadline. According to Cointelegraph and Coinbase, the SEC hurriedly put out a press release after hours on Wednesday to announce its negative decision. The regulator cited that the Bitwise proposal was not “designed to prevent fraudulent and manipulative acts and practices”. The…
Read moreWhile the SEC is pondering whether to grant the existence of a Bitcoin ETF, it is not wasting time in charging the cryptocurrency industry, where appropriate. The financial regulator has fined the blockchain company Block.one for unregistered ICO. The fine was $24 million. According to the SEC, the ICO raised billions of dollars in digital…
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The Securities and Exchange Commission (SEC) announced yesterday that it has charged three foreign individuals with deceiving U.S. investors, causing them to lose millions of dollars and entire life savings through fraudulent, online sales of binary options. The defendants Gil Beserglik, Raz Beserglik and Kai Christian Petersen, deceived the investors through 3 online binary options…
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The SEC is still pondering upon the the approval of multiple Bitcoin ETF proposals. The latest one, as Leaprate reported several days ago, is coming from Wilshire Phoenix. A decision on the Wilshire Phoenix application is due late in September, but a delay is expected. Yesterday, it became clear that the SEC has started a…
Read moreThe SEC announced on September 23rd that it is bringing new charges in New York-based multimillion dollar boiler room schemes. The allegations state that Benjamin Conde arranged the manipulation of millions of shares of the company Renewable Energy and Power Inc., an action which resulted in generating $3.1 million in illegal proceeds. According to the SEC,…
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VanEck Securities surprised the crypto-verse two weeks back when it decided to focus its efforts only on institutional investors and to limit its Bitcoin Trust to accredited investors. At the time of that announcement, their management team assured everyone that they were still committed to a retail offering, but now the news is that they…
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We are into the ninth month of the year, and we are still waiting patiently for the SEC to approve a Bitcoin Exchange-Traded Fund (ETF). Yes, the VanEck consortium decided to forego the retail market for now and launch a Bitcoin Trust for institutional investors only, but the SEC is still pondering what to do…
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We have consistently heard from the Securities and Exchange Commission (SEC) that a prerequisite for a Bitcoin Exchange-Traded Fund (ETF) is that the ETF must have “good custody”. SEC Chairman Jay Clayton’s actual remark in an interview with CNBC in November of last year was: We care that assets underlying that ETF have good custody…
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