SEC calls ETF filings inadequate, Binance loses euro partner and other news: Hodler’s Digest, June 25 – July 1
Top Stories This Week
US SEC considers spot Bitcoin ETFs filings as insufficient
There may be a longer wait for an area Bitcoin exchange-traded fund (ETF) in the United States, as the Securities and Exchange Commission labeled investment supervisors current applications inadequate. The SEC told the Nasdaq and the Chicago Board Options Exchange that their filings are not “detailed and sufficiently clear.” The regulator returned the filings, citing the absence of details concerning the proposed surveillance-sharing contract. Property supervisors can still resubmit their applications.
Cathie Woods ARK reportedly first in line for an area Bitcoin ETF
ARK Investment Management is reportedly ahead of BlackRock in the race for an area Bitcoin ETF, as it still has a previous application pending with the United States securities regulator. ARK and 21Shares filed their 3rd application for a spot BTC ETF in April, and amended it this week to consist of a surveillance-sharing contract, making it similar to BlackRocks filing. Since BlackRocks application on June 16, other financial investment firms such as Valkyrie, WisdomTree and Invesco have reapplied for area Bitcoin ETFs.
Binance to lose assistance of its euro banking partner
Crypto exchange Binance notified users that its existing euro banking partner, Paysafe Payment Solutions, will no longer support the exchange after September 25. Binance said it will change to a new provider for euro deposits and withdrawals via SEPA bank transfer, though it didnt name which company that would be. In current months, Binance has been dealing with waves of reaction from regulators all over the world, causing a cessation of operations in numerous nations.
FTX has recuperated $7B in properties so far, has almost $2B to go to cover misappropriations
FTX has recuperated about $7 billion in liquid possessions so far, and the search for additional assets is continuing, according to an interim report launched June 26. The FTX Debtors, made up of FTX and affiliates, presently approximate the quantity of misappropriated client assets at $8.7 billion.
3AC liquidators aim to recover $1.3 B from creators
Teneo, the liquidator behind insolvent hedge fund Three Arrows Capital (3AC) is looking for to recuperate roughly $1.3 billion in funds from its creators Su Zhu and Kyle Davies. The company owed financial institutions $3.5 billion, making the founders possible liability more than a 3rd of the overall debt. Both 3AC founders have gotten digital subpoenas during the bankruptcy proceedings.
Winners and Losers
Andrew Frey, forensic monetary expert in the U.S. Secret Service.
Most Memorable Quotations.
Over $204 million was lost in decentralized financing (DeFi) hacks and scams in the 2nd quarter of 2023, according to a recent report. A total of $208.5 million was initially lost throughout the quarter, however $4.5 million was recovered through prosecutions, deals with hackers and other healing methods.
FUD of the Week.
Mel McCann, vice president of engineering at the Cardano Foundation.
Asia Express.
Asia Express: Chinas NFT market, Moutai metaverse popular however buggy …
Over $204M was lost in Q2 DeFi hacks and frauds.
Read.
” One of the things that I think people need to stop doing is going, Whats the supreme blockchain? […] It doesnt exist in my mind due to the fact that it really depends.”.
Davinci Jeremie, crypto supporter.
This suggests that speculative interest in Bitcoin remains extremely sensitive and fickle to even smaller rate movements.
Bitcoin speculators send 35K BTC to exchanges in brand-new elation inflow.
” Many of the biggest banks in the United States are actively working to supply access to Bitcoin and more.”.
FTX has filed a lawsuit against a previous regulatory and compliance executive at the exchange, alleging he made a series of payments attempting to avoid staff from blowing the whistle about the exchanges concerns. Daniel Friedberg, who held several management roles at the exchange, is implicated of making “hush cash” payments to two potential whistleblowers to stop them from dripping info about “regulatory issues” and the close ties in between FTX and Alameda.
Hester Peirce, commissioner of the U.S. Securities and Exchange Commission.
” I think that our NFTs are a neat method to show that we do have a seat at the table which were truly bought crypto and the examination of digital properties.”.
Meltem Demirors, primary method officer at CoinShares.
Among the biggest 100 cryptocurrencies, the leading 3 altcoin gainers of the week are Compound (COMP) at 84.33%, Bitcoin Cash (BCH) at 63.16% and eCash (XEC) at 44.59%..
Features.
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AI Eye: AI travel booking hilariously bad, 3 unusual uses for ChatGPT, crypto plugins.
The top three altcoin losers of the week are Conflux (CFX) at -22.38%, Sui (SUI) at -15.41% and Stacks (STX) at -14.81%. For more info on crypto rates, ensure to read Cointelegraphs market analysis.
” Once in a while, something comes along that makes poor individuals abundant since they got it truly, really cheap. This [Bitcoin] was among them.”.
” Regulation by enforcement is the equivalent of having a hammer and seeing everything as a nail.”.
Simon Callaghan, CEO of Blockchain Australia.
Revolut United States to delist ADA, MATIC and SOL in September.
How wise individuals invest in dumb memecoins: 3-point prepare for success.
Bitcoin short-term holders (STHs) are feeling the requirement to sell BTC at $30,000, according to a current report from analytics firm Glassnode flagging 10s of countless coins being sent out to exchanges.
Forecast of the Week.
Historical data has revealed that as soon as STH success reaches an aggregate 20%, offering starts, and against their current $26,500 breakeven point, anything much above $33,000 could stimulate a considerable shift in hodler structure. Existing data shows STH profitability at around 10%, with their realized price– the price at which STH coins last moved– now above $27,000.
Crypto-friendly neobank Revolut is beside delist a batch of digital possessions on its platform in the United States amidst the ongoing regulatory developments in the country, consisting of the complete delist of tokens like Cardano (ADA), Polygon (MATIC) and Solana (SOL). The firm, nevertheless, still supports the tokens in other jurisdictions outside the country. ADA, MATIC and SOL were labeled as unregistered securities by the SEC in early June.
Finest Cointelegraph Features.
I truly think weve been taking a technique that is not suitable.”.
At the end of the week, Bitcoin (BTC) is at $30,418, Ether (ETH) at $1,928 and XRP at $0.47. The overall market cap is at $1.19 trillion, according to CoinMarketCap.
If you can generate income out of it, then its a smart financial investment. Thats the playbook of smart financiers making bank from dumb memecoins.
FTX alleges former exec utilized hush cash to silence whistleblowers.
ChatGPT and Bard can help you book fictional hotels and dreadful 29-hour flights, 3 strange uses for AI, and do crypto plugins really work?
Snoop Doggs NFT passport is a plan for performance merch of the future, Sothebys NFT VP says. The Goose drew Millennials to auction home.
There might be a longer wait for a spot Bitcoin exchange-traded fund (ETF) in the United States, as the Securities and Exchange Commission identified financial investment managers current applications inadequate. ARK Investment Management is reportedly ahead of BlackRock in the race for an area Bitcoin ETF, as it still has a previous application pending with the United States securities regulator. ARK and 21Shares submitted their third application for an area BTC ETF in April, and changed it this week to include a surveillance-sharing arrangement, making it similar to BlackRocks filing. Since BlackRocks application on June 16, other investment companies such as Valkyrie, WisdomTree and Invesco have reapplied for area Bitcoin ETFs.
NFT Collector: Snoops NFT nostalgia, The Goose draws Gen Y to Sothebys.
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week, provided.
Crypto exchange Binance notified users that its present euro banking partner, Paysafe Payment Solutions, will no longer support the exchange after September 25.
Editorial Staff.
Cointelegraph Magazine reporters and writers added to this article.