Press Releases TheBitTimes.com

Former Chief SEC Office of Internet Enforcement John Reed Stark shares SEC opposition with screenshot citing Binance’s Chief Compliance Officer’s statement that Binance was operating as an unlicensed securities exchange in the United States. According to Stark’s Nov. 8 post on X, Binance might be outdone in court. A deliberate choice The opposition  states that Binance has operated as a broker, dealer exchange and clearing agency in the United States, making the exchange subject to federal securities laws. The SEC Just Filed Their Opposition to Binance’s Motion to Dismiss. The Comprehensive Pleading is Powerful, Compelling and Strongly Supported in Both Fact and Law. Stick a fork in it Binance, you’re done. https://t.co/R8SBKUfuy8 pic.twitter.com/FE7wTdaAme — John Reed Stark (@JohnReedStark) November 8, 2023 For this reason, the document states not abiding by these rules was “a deliberate choice.” You might also like: US lawmaker seeks to slash SEC chief’s sa...

Hashdex's approach differs from recent filings as it won't depend on the Coinbase surveillance sharing agreement, opting to acquire spot Bitcoin from physical exchanges within the CME market. Hashdex, a crypto asset management company, has joined the competition for a spot Bitcoin (BTC) ETF in the United States. The firm, known for its global leadership in crypto asset management, has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a Bitcoin futures ETF that will hold actual spot Bitcoin.  Exchange-traded funds, or ETFs, are investment funds that trade on a stock market with their value derived from an underlying basket of assets such as stocks, bonds, commodities and other financial instruments. Similarly, Bitcoin ETFs track BTC's value and trade on traditional stock exchanges rather than crypto exchanges. Hashdex's approach differs from recent filings as it won't depend on the Coinbase surveillance sharing agreement, opting to ac...

The SEC is reportedly close to approving the first Ether futures - based ETFs, signaling a potential shift in stance on cryptocurrency regulations. The U.S. Securities and Exchange Commission (SEC) is nearing approval of the first exchange-traded funds (ETFs) based on Ether futures, as sources told Bloomberg. Numerous firms, including Volatility Shares, Bitwise, Roundhill, and ProShares, have submitted the required documentation, signaling readiness for ETF trading. You might also like: Valkyrie submits application for Ether futures ETF  Though the details of approved investments are still unknown, insiders hint at potential approvals coming as early as October. Ether, Ethereum’s native token and the world’s second-largest digital asset after Bitcoin, is central to these discussions. Tension with Bitcoin ETF The SEC’s hesitancy towards Bitcoin-linked ETFs persists. A notable case includes Grayscale Investments’ attempt to convert its Bitcoin ...

XRP made notable strides in the crypto market, leading to substantial gains. Within the last 24 hours, open interest on futures contracts linked to XRP exceeded $1.1 billion. This achievement marked another milestone, surpassing the $1 billion mark set the previous week and establishing a new record high for the year. Open interest is the number of unsettled futures contracts. This has experienced a 21% increase since earlier this week. Among these positions, the largest share of about $459 million is held on the crypto exchange Binance. Bybit was next in line at $304 million and Bitget followed suit with $263 million. Source A higher open interest indicates a surge in investments or bets on various assets. This signifies the influx of new funds into the financial market. Typically, this suggested an expectation for the current trend to persist. In parallel, the price of XRP experienced an astonishing surge of 67.42% in the past few days. At press time, the altcoin was trad...

The U.S. SEC filed a lawsuit against the bankrupt crypto lender on July 13 followed by news reports about the arrest of the former CEO Alex Mashinsky. The former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrest ed on the morning of July 13. The news broke minutes after the United States Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day. The former CEO was reportedly arrest ed after a probe into the company’s collapse, reported Bloomberg citing people familiar with the matter. Mashinsky was reportedly charged with fraud and intention to manipulate the market. Celsius Network filed for bankruptcy on July 14 last year. Mashinsky was recently found guilty by investigators of the Commodity Futures Trading Commission, which concluded that the former CEO broke numerous U.S. regulations before the company’s implosion in 2022. The investigation against the former CEO began after New York Attorney General sued Mashin...

In the eyes of the SEC, the recent filings from BlackRock, ARK Invest, Fidelity and other asset managers are not "sufficiently clear and comprehensive." There may be a longer wait for a spot Bitcoin exchange-traded fund (ETF) in the United States as the Securities and Exchange Commission (SEC) labeled investment managers' recent applications inadequate . According to the Wall Street Journal, the securities regulator told the Nasdaq and the Chicago Board Options Exchange (Cboe) that their filings are not "sufficiently clear and comprehensive." These exchanges represent asset managers in the filing of the financial product. In the eyes of the SEC, the exchanges should have named the spot Bitcoin exchange with which they would have a "surveillance-sharing agreement" or provided sufficient information about the details of those surveillance arrangements. However, asset managers can resubmit the filings after clarifying the information. Bitcoin ETFs: A ...

The market capitalization of Tether is nearly a billion dollar away from reaching a new lifetime peak while rival stablecoins struggle. Tether (USDT) has emerged as a clear winner amid the ongoing banking crisis and crypto crackdown in the U.S. On April 17, the U.S. dollar-pegged stablecoin's circulating market valuation reached nearly $81 billion, just 1.5% below its record high of $82.29 billion from a year ago. It has grown about 20% year-to-date (YTD) already and is now eyeing new all-time highs. USDT market capitalization monthly chart. Source: TradingView Tether rivals hit new yearly lows USDT's growth came as Tether ate up the market share of its stablecoin rivals, USD Coin (USDC) and Binance USD (BUSD). That is due to crypto traders' belief that Tether's operations have no exposure to the potential banking crisis contagion. For instance, the circulating market capitalization of the USD Coin, the second-largest stablecoin, has dropped over 25% YTD to $31.82 bill...

Lawyer Jeremy Hogan believes the United States Securites and Exchange Commission has failed to legally demonstrate that XRP is a security. Ripple’s XRP (XRP) is not a security because it does not fit the definition of an “investment contract,” the “only” legislative definition that it could “possibly” fit, according to Jeremy Hogan, a partner at the law firm of Hogan & Hogan. In a series of tweets on April 9, Hogan explained that, in his opinion, XRP could only be considered a security under the definition of an "investment contract," as it doesn't fit the other definitions of a security such as stocks or bonds. Hogan argues, however, that the United States Securities and Exchange Commission has not demonstrated an implied or explicit investment contract in its suit against Ripple. The #1 reason why XRP is not a Security (a thread). First, under the legislative definition of a security, XRP can only POSSIBLY fit under the definition of an "investment contract....