SEC delays BTC ETF decision, Grayscale triumphs over SEC and BitBoy gets the boot: Hodler’s Digest, Aug. 27 – Sept. 2

Ben Armstrong, former frontman of BitBoy Crypto.

Back in January, the U.S. Department of Justice seized these shares. The purchase has actually been in the works for a while. Robinhoods board of directors provided it the green light in its Q4 2022 report, and an SEC filing from August confirmed that the U.S. District Court for the Southern District of New York approved the purchase with no legal issues.

” Balancer knows a make use of associated to the vulnerability below,” the protocols team published on X, adding that, while mitigation measures taken in recent days had actually dramatically reduced threats, affected swimming pools might not be stopped briefly. “To avoid more exploits, users need to withdraw from impacted LPs,” the group recommended.

At first, market participants had factors to be optimistic as Bitcoin held a crucial long-term trendline and kept the $27,000 level. Nevertheless, a decision by the U.S. SEC to delay a number of Bitcoin ETF applications caused a change in sentiment.Bitcoin promptly shed $1,000 in value over just two per hour candle lights.

This follows Armstrong dealing with a series of suits in recent times. He remained in a class-action lawsuit where financiers implicated him and other influencers of promoting FTX without disclosing how much they were getting paid by the exchange.

On-chain tracking resource Material Indicators delivered a similarly grim image for BTC/USD on day-to-day, weekly and even monthly timeframes. Utilizing signals from one of its proprietary trading tools, Trend Precognition, Material Indicators advised that $24,750 needed to hold for bulls to have an opportunity at clinching a rebound.

In a surprising twist following the U.S. SECs statement of hold-ups, Bitwise has sent a demand to retract its application for its Bitcoin and Ether Market Cap Weight Strategy ETF. This application was originally sent to the SEC on Aug. 3. It seems that Bitwise is taking a step back to reevaluate its technique, despite the brief positive market belief that followed Grayscales current SEC win.

In a YouTube and social networks statement, Hit Network exposed that in spite of its efforts to support Armstrong throughout his struggle with addiction, it had actually decided to part methods with the influencer.

Crypto asset manager Grayscale Investments recently scored a big win in its fight against the United States Securities and Exchange Commission..

Information shows that Bitcoin is on track for a retest of long-term support levels following a drop in BTC cost as August ended. Reversing the gains witnessed the previous week, BTC/USD is now trading listed below $26,000 since Sept. 1, according to information from Cointelegraph Markets Pro and TradingView.

In the report, CertiK highlighted that exit rip-offs took around $26 million, flash loan attacks took $6.4 million, and exploits took $13.5 million from their victims in August 2023. The cybersecurity company verified that the total losses amounted to over $45 million.

Judge Neomi Rao offered the green light to Grayscales ask for a second review.Previously, Rao said that the SEC did not “provide any description” as to why Grayscale was in the wrong.

BitBoy Crypto brand name will no longer include YouTuber Ben Armstrong.

In the middle of the livestream associated to Bitcoin and blockchain games, Bianco apparently attempted to access his passwords for the blockchain video games platform Gala Games through a text file on his computer system.

A Brazilian cryptocurrency streamer is among the newest victims of hazardous self-custody practices, supposedly losing thousands of dollars due to a personal crucial accident. The owner of the Fraternidade Crypto channel, Ivan Bianco, unknowingly exposed his private key to a self-custodial cryptocurrency wallet during a livestream on YouTube.

The leading three altcoin losers of the week are KuCoin Token (KCS) at 15.53%, Hedera (HBAR) at 15.02% and Astar (ASTR) at 12.82%.

How to secure your crypto in an unpredictable market: Bitcoin OGs and professionals weigh in.

An Ethereum address apparently coming from the assailant has actually been revealed by blockchain security expert Meier Dolev. Following the make use of, the address got 2 transfers of Dai stablecoin worth $636,812 and $257,527, respectively, bringing its overall balance to over $893,978.

Among the biggest 100 cryptocurrencies, the leading 3 altcoin gainers of the week are Toncoin (TON) at 33.90%, Iota (MIOTA) at 13.13% and Maker (MKR) at 12.33%.

Balancer made use of in almost $900k after vulnerability warning.

FUD of the Week.

The company alleged issues of compound abuse and monetary damage as factors behind the decision..

Bitcoin risks quick $23K dive after BTC price loses 11% in August.

” We see limited downside for crypto markets over the near term.”.

” In the end, we will win. You cant steal someones company they constructed on their identity and win.”.

SEC delays decision on 6 spot Bitcoin ETF applications.

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Ben Simpson, creator of Collective Shift.

Cybersecurity company CertiK reported that over $997 million was lost to flash loan attacks, exit scams and exploits in 2023. Malicious actors targeting the crypto area have actually taken more than $45 million in digital assets from their victims in the month of August alone and a total of $997 million year-to-date.

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Socios employer goal? To knock crypto out of the park.

Crypto is an unstable place. Cash can be as quickly lost as made through the ups and downs of Bitcoin and the wider market. Bitcoin OGs, veterans and experts supply their viewpoints, tools and views on how to safeguard your crypto.

” Now that the courts are beginning to check the SEC a bit, I believe theres some hope that the market is type of firing up once again in the U.S.”.

For more info on crypto costs, make sure to read Cointelegraphs market analysis..

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A Lot Of Memorable Quotes.

Grayscale wins SEC claim for Bitcoin ETF evaluation.

Brazilian crypto banner loses money by inadvertently exposing personal key.

The SEC has chosen to delay providing a decision on six applications for area Bitcoin ETFs in the United States. The commission has decided to extend its evaluation period by an extra 45 days, pressing the eventual choice back until October. Quickly after the news broke, the SEC likewise put BlackRock, the biggest possession manager in the world, in the same delayed decision boat.

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” There are lots of cases where openness is a feature, but individuals do not desire most deals in the economy to be public.”.

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Jeremy McLaughlin, partner at K&L Gates.

During the suit, there were claims that Armstrong threatened the plaintiffs attorneys and even blew off a federal judges orders to reveal up in court. The case was put on hold in June..

For the banner, his Gala Games passwords were kept in the same text file as the seed phrase for his MetaMask wallet, which had a substantial quantity of Polygon (MATIC).

Sue Ennis, vice president of Hut 8.

Traders have been speculating over the motions. “On-chain information recommends that $BTC does not have strong support below the $25,400 mark,” popular pseudonymous trader Ali told X (previously Twitter) subscribers.

Losers and winners.

Bitwise withdraws Bitcoin and Ether Market Cap ETF application.

Crypto and stock trading platform Robinhood scooped up more than 55 million shares of their own company that were formerly owned by Sam Bankman-Fried, the previous CEO of FTX. The purchase, which cost Robinhood approximately $606 million, was settled today after it submitted the documentation with the U.S. SEC. These shares originally held by Bankman-Fried and Gary Wang, a co-founder of FTX, through a company called Emergent Fidelity Technologies.

” I talked to a man a few days ago that has 80 altcoins in his portfolio. Theres no other way an individual investor can stay throughout and know exactly what 80 various coins are doing at any one time.”.

Brian Armstrong, CEO of Coinbase.

The victory doesnt automatically imply Grayscales Bitcoin ETF is a done deal. Theres still more to come …

Hacks, frauds and exploits stole nearly $1B in 2023: Report.

Robinhood bought back Sam Bankman-Frieds stake from US gov t for $606M.

The Ethereum automated market maker and decentralized finance protocol, Balancer, confirmed that it had succumbed to an exploit, resulting in losses of nearly $900,000. This event happened soon after it had actually revealed a vulnerability that impacted a number of pools.

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At the end of the week, Bitcoin (BTC) is at $25,610, Ether (ETH) at $1,618 and XRP (XRP) at $0.49. The total market cap is $1.03 trillion, according to CoinMarketCap..

JPMorgan experts.

In a continuous effort to convert its Grayscale Bitcoin Trust (GBTC) into a Bitcoin exchange-traded fund (ETF), the U.S. appeals court judge accepted Grayscales argument that the SECs rejection of its current ETF application was unfair. The SEC had declared that the GBTC didnt have enough safe practices and fraud security in location.

” I certainly do think we could see in this next cycle $100,000 expense per Bitcoin, and thats based upon if BTC were to capture even 2 to 5% of golds $13 trillion place in institutional portfolios.”.

The moms and dad business of Hit Network, the folks behind the “BitBoy Crypto” brand name, just gave the boot to its public face, Ben Armstrong.

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6 Questions for Leila Ismailova: Digital style and life after Artisant.

Crypto Banters Ran Neuner states Ripple is despicable, tips hat to ZachXBT: Hall of Flame.

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The SEC has chosen to hold off providing a choice on six applications for area Bitcoin ETFs in the United States. In an unexpected twist following the U.S. SECs announcement of delays, Bitwise has submitted a request to retract its application for its Bitcoin and Ether Market Cap Weight Strategy ETF. Crypto and stock trading platform Robinhood scooped up more than 55 million shares of their own business that were formerly owned by Sam Bankman-Fried, the former CEO of FTX. Crypto is a volatile place. Bitcoin OGs, professionals and veterans supply their viewpoints, tools and views on how to secure your crypto.

Editorial Staff.
Cointelegraph Magazine writers and reporters added to this post.

Ran Neuner is the CEO of Onchain Capital, founder of Crypto Banter, and a vocal crypto commentator on X. According to Crypto Banters Ran Neuner, following people you do not like on Twitter/X can in fact make you smarter.

Leila Ismailova began her expert profession at the age of 15 as a broadcasting star in Belarus, the Russian-neighboring Eastern European nation that plays house to 9.3 million residents. She continued in the role for 10 years, she states, prior to reaching what she felt was a “expert ceiling” and starting a journey that led to Web3.