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

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Grayscale wins SEC lawsuit for Bitcoin ETF review

For more information on crypto rates, make certain to read Cointelegraphs market analysis.

Brazilian cryptocurrency banner Fraternidade Crypto is among the newest victims of unsafe self-custody practices, supposedly losing thousands of dollars due to a private essential accident. During a livestream on YouTube, the owner of the Fraternidade Crypto channel, Ivan Bianco, unknowingly exposed his personal key to a self-custodial cryptocurrency wallet.

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

The purchase, which cost Robinhood roughly $606 million, was completed today after submitting the documents with the U.S. SEC. These shares originally came from Bankman-Fried and Gary Wang, who is a co-founder of FTX through a business called Emergent Fidelity Technologies..

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Brian Armstrong, CEO of Coinbase.

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The business alleged issues of substance abuse and financial damage as reasons behind the decision..

Reversing the gains saw the previous week, BTC/USD is now trading listed below $26,000 as of Sept. 1, according to information from Cointelegraph Markets Pro and TradingView.

Judge Neomi Rao okayed to Grayscales demand for a 2nd review..

Nevertheless, the triumph does not instantly mean Grayscales Bitcoin ETF is a done deal. Theres still more to come …

Soon after the news broke, the SEC likewise put BlackRock, the most significant asset manager on the planet, in the same delayed decision boat.

Bitcoin runs the risk of speedy $23K dive after BTC price loses 11% in August.

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” I spoke with a man recently that has 80 altcoins in his portfolio. Theres no other way an individual financier can remain across and understand exactly what 80 different coins are doing at any one time.”.

This application was initially sent to the SEC on August 3. It appears that Bitwise is taking an action back to reevaluate its method in spite of the short positive market belief that followed Grayscales recent SEC win.

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In spite of the bad rap, NFTs can be a force for good.

This follows Armstrong facing a series of lawsuits in current times.

” I absolutely do think we could see in this next cycle $100,000 cost per Bitcoin, whichs based on if BTC were to capture even 2 to 5% of golds $13 trillion location in institutional portfolios.”.

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

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.

In a surprising twist following the U.S. SECs announcement of hold-ups, Bitwise has submitted a request to withdraw its application for its Bitcoin and Ether Market Cap Weight Strategy ETF.

This occurrence occurred shortly after they had actually disclosed a vulnerability that affected a number of pools.

An Ethereum address apparently belonging to the attacker has been exposed by blockchain security expert Meier Dolev. Following the exploit, the address received 2 transfers of Dai stablecoin worth $636,812 and $257,527, respectively, bringing its overall balance to over $893,978..

Ben Simpson, founder of Collective Shift.

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

Back in January, the U.S. Department of Justice seized these shares.

Information suggests that Bitcoin is on track for a retest of long-lasting support levels following a drop in BTC price as August ended.

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The purchase has remained 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 authorized the purchase with no legal complications..

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Cointelegraph Magazine writers and press reporters added to this post.

Using signals from among its proprietary trading tools, Trend Precognition, Material Indicators encouraged that $24,750 needed to hold for bulls to have a possibility at clinching a rebound.

Previously, Rao stated that the SEC did not “offer any description” regarding why Grayscale remained in the wrong..

Bitcoin quickly shed $1,000 in worth over just 2 per hour candle lights.

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

Moreover, during the claim, there were claims that Armstrong threatened the complainants attorneys and even blew off a federal judges orders to appear in court. The case was put on hold in June.

The SEC had actually alleged that the GBTC didnt have enough safe practices and fraud protection in location.

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

Scams, hacks and exploits stole almost $1B in 2023: Report.

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Among the most significant 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%.

The SEC has actually chosen to delay providing a choice on 6 applications for area Bitcoin ETFs in the United States. The commission has decided to extend its evaluation duration by an extra, pressing the decision even more into October on the calendar.

The parent company of Hit Network, the folks behind the “BitBoy Crypto” brand, simply gave the boot to their public face, Ben Armstrong.

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” Balancer understands a make use of associated to the vulnerability listed below,” the procedures group posted on X, including that while mitigation procedures taken in recent days had dramatically minimized threats, affected pools could not be stopped briefly. “To prevent more exploits, users need to withdraw from impacted LPs,” it encouraged.

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. The cybersecurity firm verified that the overall losses amounted to over $45 million.

Initially, market participants had factors to be optimistic as Bitcoin held a key long-term trendline and preserved the $27,000 level.

The leading 3 altcoin losers of the week are KuCoin Token (KCS) at 15.53%, Hedera (HBAR) at 15.02% and Astar (ASTR) at 12.82%.

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

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FUD of the Week.

In a YouTube and social media statement, Hit Network exposed that despite efforts their efforts to support Armstrong throughout his struggle with addiction, they have decided to part methods.

The Ethereum automated market maker and decentralized financing protocol, Balancer, verified that it had fallen victim to an exploit, leading to losses of almost $900,000..

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Bitwise withdraws Bitcoin and Ether Market Cap ETF application.

” In the end, we will win. You cant take somebodys company they built on their identity and win.”.

Balancer exploited in nearly $900k after vulnerability caution.

BitBoy Crypto brand name will no longer consist of YouTuber Ben Armstrong.

SEC delays decision on 6 area Bitcoin ETF applications.

How to safeguard your crypto in a volatile market: Bitcoin OGs and specialists weigh in.

Cybersecurity company CertiK reported that over $997 million was lost to flash loan attacks, exit frauds, and exploits in 2023.

He remained in a class-action suit where investors accused him and other influencers of promoting FTX without revealing just how much they were earning money by the exchange..

Sadly for the banner, his Gala Games passwords were stored in the exact same text file as the seed expression for his MetaMask wallet, which had a substantial amount of Polygons (MATIC).

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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.

In an ongoing 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 unreasonable.

” There are many cases where openness is a feature, but individuals do not want most transactions in the economy to be public.”.

Brazilian crypto streamer loses cash by accidentally exposing private secret.

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Ben Armstrong, previous frontman of BitBoy Crypto.

” On-chain information recommends that $BTC does not have strong assistance below the $25,400 mark,” popular trader Ali told X (previously Twitter) customers.

Jeremy McLaughlin, partner at K&L Gates.

Nevertheless, a decision by the U.S. SEC to delay several Bitcoin ETF applications caused a modification in belief.

Crypto asset supervisor Grayscale Investments recently scored a big win in its battle versus the United States Securities and Exchange Commission.

Traders have been speculating over the movements..

On-chain tracking resource Material Indicators provided a similarly grim picture for BTC/USD on daily (D), weekly (W) and even regular monthly (M) timeframes.