This month’s removal of the investment limit for retail investors in digital tokens backed by real estate or infrastructure marks a significant shift. Previous rules had limited retail investors to 300,000 baht (approximately $8,400) per offering in asset-backed ICOs. Source
Federal securities regulators say they need a longer period to consider asset managers Grayscale Investments and BlackRock’s applications for an Ethereum (ETH) exchange-traded fund (ETF). In an order dated January 24th, the U.S. Securities and Exchange Commission (SEC) says it is extending the period to decide on a proposed rule change to convert the Grayscale Ethereum Trust (ETHE) product into an ETF. “On December 5, 2023, pursuant to Section 19(b)(2) of the Act, the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed…
The U.S. Securities and Exchange Commission (SEC) has again delayed issuing a decision on Grayscale’s application to launch a spot Ethereum (ETH) ETF. According to a message on the regulator’s website, the Commission requested public comments on how the regulator should handle Grayscale’s application. The SEC is interested in whether the ETH algorithm – Proof-of-Stake (PoS) and the concentration of a large volume of Ethereum in the hands of several individuals could make the fund vulnerable to fraud and manipulation. The next application deadline is in May. The company first…
The U.S. Securities and Exchange Commission delayed an application by Grayscale Investments to convert its Ethereum trust product into an exchange-traded fund (ETF), a day after pushing back a decision on an application from BlackRock to launch an ether ETF. Source
The Securities and Exchange Commission (SEC) has delayed its decision on BlackRock’s application to launch a spot Ethereum (ETH) ETF to March. According to a document on the SEC website, a new decision on the application, which was supposed to be made on Jan. 25, is now expected on March 10, 2024. SEC representatives explained their decision due to the lack of time to review all the application details. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so…
A SIM swap attack on the U.S. SEC’s Twitter account led to a false tweet about Bitcoin ETF approval, briefly disrupting the cryptocurrency market. On Jan. 10, the U.S. Securities and Exchange Commission (SEC) experienced a cybersecurity breach, resulting in a misleading tweet about spot Bitcoin ETFs from its official account. This incident, caused by a SIM swap attack, briefly stirred confusion in the cryptocurrency markets. The SEC explained the situation in a statement: “The unauthorized party obtained control of the SEC cell phone number associated with the @SECGov account…
The U.S. Securities and Exchange Commission (SEC) confirmed that a hacker took over its X account through a “SIM swap” attack that seized control of a cell phone associated with the account. That allowed the outsider to falsely tweet on January 9 that the agency had approved spot bitcoin exchange-traded funds (ETFs), a day before the agency actually did so. Source
Crypto-friendly bank B. Riley Financial Inc. is said to be facing an undisclosed investigation from U.S. authorities. The Los Angeles-based investment bank B. Riley Financial Inc. is reportedly under investigation by the U.S. Securities and Exchange Commission (SEC) for its transactions with a client associated with securities fraud, Bloomberg reports, citing sources close to the matter. According to the report, the investigation apparently linked to Brian Kahn, an unnamed co-conspirator in a U.S. Department of Justice criminal case linked to the 2020 collapse of the Prophecy Asset Management hedge fund.…
According to the report, Kahn has been a “longstanding client” of B. Riley, and the bank had helped him lead a “management buyout of Franchise Group, or FRG, a retail company based in Delaware, Ohio.” Additionally, Nomura, a major Japanese financial group, had “led a $600 million lending syndicate for B. Riley to help finance Kahn’s takeover,” the report said, citing loan documents. Source
This week, spot Bitcoin ETFs recorded impressive inflows as the digital currency continued to battle the bears at the $41,000 mark. Meanwhile, the crypto scene witnessed updates on the Coinbase vs. SEC case. First week of trading: spot Bitcoin ETFs This week marked the first trading week for the recently-approved spot Bitcoin exchange-traded funds. Most products saw massive inflows, with BlackRock’s IBIT recording $500 million and Fidelity’s FBTC seeing $421 million inflows, per a Jan. 16 report. The Grayscale Bitcoin Trust (GBTC), which already commanded investments before its pivot to…