Day: March 7, 2023

Binance.US Can Move Ahead With Plan to Acquire Voyager Digital’s Assets, Judge Rules

“If the government wants to litigate that” Voyager’s sale of VGX tokens was an offering of securities, it should have done so, he said, referring to an SEC attorney’s statement that the proposed sale may have securities law tie-ups. However, the regulators did not choose to do so; based on the evidence provided during the hearing, Wiles would have had “no choice” but to rule that the transactions were perfectly legal, he added. Source

Judges hear oral arguments in Grayscale suit against SEC over BTC spot ETF rejection

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A panel of judges heard oral arguments in the Grayscale Investments suit against the United States Securities and Trade Commission (SEC) on March 7. Grayscale is challenging the SEC order not to approve Grayscale’s application to create a Bitcoin (BTC) spot exchange-traded fund (ETF). The SEC issued its order on July 6, 2022. Former solicitor general Donald Verrilli Jr. represented Grayscale and SEC senior counsel Emily Parise spoke for the SEC before Chief Judge Sri Srinivasan and Judges Neomi Rao and Harry Edwards in the District of Columbia Circuit Court…

Mt. Gox creditors have until March 10 to register and choose repayment method

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Creditors from Mt. Gox have until the end of the week to register and select a repayment method as part of the plan by which they will be compensated for their losses with the defunct crypto exchange. In a March 7 announcement, Mt. Gox trustee Nobuaki Kobayashi reiterated a January notice reminding creditors who had not registered for repayment they had until March 10 to do so — two additional months as part of the rehabilitation plan proposed in October 2022. Kobayashi did not provide a reason for the extension,…

Ethereum price action and derivatives data confirm bears are currently in control

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The price of Ether (ETH) declined 6% between March 2 and 3, followed by tight-range trading near $1,560. Still, analyzing a wider time frame provides no clear trend, as its chart can point to a descending channel or a slightly longer seven-week bullish pattern. Ether (ETH) price index in USD, 1-day. Source: TradingView Ether’s recent lack of volatility can be partially explained by the upcoming Shanghai hard fork, an implementation aimed at allowing ETH staking withdrawals. Those participants were each required to lock 32 ETH on the Beacon Chain to…

CoinFLEX restructuring approved in Seychelles as rebranding reportedly continues

Crypto investment platform CoinFLEX has received approval for its restructuring plan from the courts in Seychelles, the company announced March 7 on its blog.  The courts are expected to publish the order the same week, the blog post added. Trading in locked assets has been halted until 24 hours after the publication of the court order on the restructuring to allow time for asset holders to be informed. CoinFLEX halted withdrawals in June after incurring $47 million in losses when an account went negative without being liquidated. CoinFLEX began allowing…

Silver Proponent Predicts Medium-to-Long-Term Prices of $125 Per Ounce Thanks to Auto Industry – Economics Bitcoin News

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Silver prices have been hovering just below the $21 per troy ounce mark over the last 24 hours, after jumping above the $24 range in mid-January. While long-term and modest forecasts expect silver to hit $30 by 2025 and $40 by 2027, Keith Neumeyer, CEO of First Majestic Silver, thinks medium to long-term, silver could reach $125 per ounce, thanks to the automobile industry. Keith Neumeyer Highlights Silver’s Role in the Growing Demand for Renewable Energy and Electric Vehicles The precious metal silver is down more than 12% against the…