The proposed Gemini-Genesis-Digital Currency Group partnership would rival Coinbase and FTX, but Barry Silbert backpedaled with the suggested merger, citing "catastrophic risks" to the exchanges.
The future of Barry Silbert's "crypto" empire is on the rocks after its losses mounted to over $3 billion as more investors came forward to take down Digital Currency Group over alleged fraud.
While the nine BTC spot ETFs enjoyed positive inflows in the first week since their approval, not much can be said about this longevity, contrary to what many advocates paint them to be.
The U.S. securities regulator has approved BTC ETFs, including Grayscale and Bitwise, despite concerns, although market reaction tepid as fee competition heats up and Coinbase/Gemini secure custody roles amid ongoing SEC lawsuits.
Barry Silbert remains mum on his decision to leave his post as chairman of Grayscale on the same day the firm filed an amended version of its application to convert its GBTC into a spot-based ETF.
The U.S. Court of Appeals for the D.C. Circuit ruled that the SEC had failed to justify its rejection of the Grayscale spot ETF, particularly in light of approvals given to ETF applications.
The SEC's deadline to appeal passed last week with no action from the commission, triggering a seven-day window for the court to issue the formal mandate confirming its decision.
The U.S. Securities and Exchange Commission has elected not to appeal a court decision ordering it to reconsider its denial of Grayscale's ETP application, as it allowed the deadline for the move to pass.
SEC Chair Gary Gensler attended a House hearing, where he was slammed for "choking off" the digital asset sector, quizzed about BTC, spot ETPs, and ongoing court cases against exchanges.
In the letter sent to SEC Chair Gary Gensler, four U.S. lawmakers urged the commission to end its alleged discriminatory stance against spot ETPs and call for the immediate approval of the listing.
BTC has given back almost all of the gains from Grayscale’s victory over the SEC, where a federal court ordered the securities regulator to reconsider its decision to deny a proposed spot BTC ETP.
Grayscale regains hope following a court order urging the U.S. Securities and Exchange Commission to take another look at its BTC ETF application, citing the lack of adequate explanation for its earlier rejection.
