Tag: SEC

Ripple CLO and XRP community back SEC commissioner’s LBRY lawsuit dissent

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Stuart Alderoty, the Chief Legal Officer (CLO) of Ripple Labs, and the XRP community have expressed their support on the X app (formerly Twitter) for Securities Exchange Commission(SEC) Commissioner Hester Peirce’s stance against the perceived “injustice” in the LBRY lawsuit. Alderoty showed gratitude toward Commissioner Peirce and suggested that when ongoing injustices occur in non-fraud cases, especially when consumers are still awaiting resolution for actual fraud cases, it might be necessary to disregard standard protocols and raise concerns more vocally and promptly, potentially even by submitting an amicus brief to…

SEC Demands $700 Million Settlement From Ripple, Pro-XRP Lawyer Reveals Next Steps

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The US Securities and Exchange Securities Commission (SEC) and Ripple Labs are expected to proceed to finalize a settlement following the official dismissal of the former’s claims against Ripple’s CEO Brad Garlinghouse and its co-founder Chris Larsen. In line with that, pro-XRP legal expert John Deaton has revealed how the settlement will play out.  A Settlement Isn’t Going To Be Straightforward In a post shared on his X (formerly Twitter) platform, Deaton mentioned that he doesn’t believe “there has been a single serious conversation regarding settlement” between the SEC and…

JPMorgan foresees lawsuits for SEC on spot Bitcoin ETF rejections

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The SEC faces potential legal challenges over its handling of spot Bitcoin ETF applications, amidst rising institutional interest in cryptocurrencies, as highlighted by JPMorgan analysts. The burgeoning cryptocurrency market is once again at a crossroads with the U.S. Securities and Exchange Commission (SEC) facing potential legal challenges if it decides to decline applications for spot Bitcoin (BTC) exchange-traded fund (ETF) applications. JPMorgan analysts, led by Nikolaos Panigirtzoglou, have highlighted the situation, suggesting that the SEC may find itself embroiled in legal disputes, akin to the recent case with Grayscale Investments.…

Hashdex Holds Talks with SEC Over Bitcoin ETF Proposal

Hashdex’s proposed ETF stands out from existing cryptocurrency-related ETFs due to its unique approach, which is the purchase of physical Bitcoin. Brazilian crypto asset manager, Hashdex recently held extensive discussions with the Securities and Exchange Commission (SEC) regarding its proposal to launch an Exchange-Traded Fund (ETF) designed to purchase physical Bitcoin (BTC). Hashdex Offers Strong Argument to Support ETF Pursuit Nate Geraci, co-founder of The ETF Institute and the host of the ETF Prime Podcast, has recently shared his insights on the ongoing dialogue between Hashdex and the SEC, shedding…

Hashdex sits down with SEC over spot Bitcoin ETF application

Asset manager Hashdex recently held a meeting with the U.S. Securities and Exchange Commission to address the regulator’s concerns about its application to allow the Hashdex Bitcoin Futures exchange-traded fund (ETF) to hold spot Bitcoin, a source familiar with the matter told Cointelegraph.  As per a memorandum released by the Division of Trading Markets, the meeting took place on Oct. 13, with six SEC officials and representatives of Hashdex, NYSE Arca, Tidal Financial Group, and law firm K&L Gates in attendance. In the meeting, Hashdex presented its mechanism allowing spot Bitcoin (BTC)…

Hashdex engages in dialog with SEC over Bitcoin DeFi ETF filing

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According to an Oct. 24 memorandum, digital asset management firm Hashdex has had a discussion with the SEC about their ETF filing that would purchase physical Bitcoin. In a follow-up post on X, Nate Geraci, the co-founder of the The ETF Institute and host of the ETF Prime Podcast, shares the importance of this ongoing dialogue and why it is interesting for the community. Looking back to 2022 The memorandum, which included a presentation from Hashdex, shares that the CME market has sufficiently developed to support its new product, quoting the…

BlackRock Fined $2.5M by SEC for Misleading Investment Disclosures

It is worth noting that the SEC’s action come only days after BlackRock unveiled its ticker symbol (IBTC) in anticipation of the approval of its spot Bitcoin Exchange Traded Fund (ETF). The US Securities and Exchange Commission (SEC) recently fined BlackRock Advisors LLC, a subsidiary firm of BlackRock Inc (NYSE: BLK), $2.5 million for failing to provide accurate and transparent disclosures about investments in the entertainment industry within a publicly traded fund it managed. BlackRock’s Inaccurate Investment Description The SEC highlighted in a recent release that between 2015 and 2019,…

BlackRock fined $2.5M by SEC for incorrect investment disclosure

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The United States Securities and Exchange Commission has fined investment adviser BlackRock Advisors, LLC $2.5 million, accusing it of failing to accurately describe investments in the entertainment industry that comprised a significant portion of a publicly traded fund it managed. According to the SEC’s filing, between 2015 and 2019, BlackRock Multi-Sector Income Trust (BIT) made sizeable investments in a print and advertising business called Aviron Group, LLC, that worked on one to two films annually, through a loan facility. The SEC alleged that BlackRock incorrectly referred to Aviron as a company that…

Pro-XRP Legal Expert Shares Expectations If SEC Wins Appeal Against Ripple

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Pro-XRP legal expert Fred Rispoli has shared some expectations following Judge Analisa Torres’ order, where she officially dismissed the US Securities and Exchange Commission’s (SEC) claims against Ripple’s executives Brad Garlinghouse and Chris Larsen.  SEC Can Still Bring Claims Against Ripple’s Executives In a post shared on his X (formerly Twitter) platform, Rispoli noted that the SEC could still file another lawsuit against Garlinghouse and Larsen if they were to appeal Judge Torres’ ruling on the programmatic sales and other distributions and get a judgment in their favor.  His assumption…