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Policy
SEC Gives NYSE and Cboe the Green Light for Bitcoin ETF Options
The US Securities and Exchange Commission has given its approval for stock exchange rule changes, enabling the listing of options linked to spot bitcoin exchange-traded funds. This move expands the investment landscape for products that have seen significant inflows this year. According to SEC memos published on Friday, NYSE has been granted permission to list and trade options on the Grayscale B…
Oct. 18, 2024, 9:35 p.m.
Policy
Alleged Mastermind Behind Fake SEC Tweet on Bitcoin ETF Approval Arrested by FBI
A 25-year-old individual was taken into custody by the Federal Bureau of Investigation for his purported involvement in the hacking of the Securities and Exchange Commission's social media account, where a false announcement was made regarding the approval of bitcoin exchange-traded funds. According to a government press release, Eric Council Jr. collaborated with co-conspirators to gain control …
Oct. 17, 2024, 4:21 p.m.
Policy
Lawyers for Nishad Singh Urge Judge to Show Leniency, Citing His Selfless Nature
In a recent court filing, attorneys for former FTX Engineering Director Nishad Singh have requested that the judge consider sparing him a prison sentence. The submission, filed on October 16 with the US Southern District of New York, portrays Singh as an exceptionally altruistic individual, supported by over 100 letters from his family, friends, and former colleagues. The document highlights that…
Oct. 17, 2024, 6:02 a.m.
Policy
Authorities in Hong Kong Dismantle $46 Million Cryptocurrency Scam Operation Utilizing Deepfake Technology
In a significant operation, Hong Kong law enforcement has dismantled a cryptocurrency investment scam operating from an office in the Hung Hom area, with estimated losses of HK$360 million ($46.35 million). The arrest of 27 individuals, aged between 21 and 34, was made on suspicion of conspiracy to defraud and possession of firearms, as announced during a police conference on October 14. Notably…
Oct. 16, 2024, 9:57 a.m.
Policy
Coinbase Intensifies Dispute with SEC Over Access to Internal Communications on Ethereum
In a significant escalation of its legal battle with the Securities and Exchange Commission (SEC), Coinbase has instructed its intermediary, History Associates, to push for a court ruling to compel the agency to release internal documents pertaining to its decision-making process on Ethereum and other digital tokens. The SEC had initially refused to provide the documents, citing their connection …
Oct. 15, 2024, 7:05 p.m.
Policy
UK Man Sues Council to Recover $527 Million in Lost Bitcoins
James Howells, a 39-year-old British man, has initiated a lawsuit against the Newport Council in Wales in an attempt to recover a hard drive containing 8,000 bitcoins that he inadvertently threw away in 2013, as reported by WalesOnline. The hard drive, which held a bitcoin stash he had mined in 2009, was initially worth around $1 million but is now estimated to be worth approximately $527 million…
Oct. 14, 2024, 3:08 p.m.
Policy
US Judge Dismisses Crypto Neobank Banq's Bankruptcy Filing
A US bankruptcy court in Nevada has rejected the Chapter 11 filing of crypto neobank Banq. The court's decision was based on the judge's finding that the application was not a genuine attempt to reorganize the company, but rather a strategy to gain an upper hand in pending lawsuits. Judge Natalie M. Cox, who presided over the case, stated that Banq's bankruptcy proceeding was an attempt to shield…
Oct. 14, 2024, 8:54 a.m.
Policy
Bitnomial Exchange Takes U.S. SEC to Court Over Alleged Regulatory Excess
In a move to challenge the U.S. Securities and Exchange Commission's (SEC) regulatory authority, cryptocurrency exchange Bitnomial has filed a lawsuit against the SEC, arguing that the regulator has overstepped its bounds in attempting to oversee a proposed XRP futures contract in conjunction with the Commodity Futures Trading Commission (CFTC). The SEC claims that XRP futures are security future…
Oct. 11, 2024, 10:38 a.m.
Policy
Nigerian Court Denies Bail to Binance Executive Tigran Gambaryan
Tigran Gambaryan, a Binance executive, has been denied bail by a Nigerian court, according to a family spokesperson. The decision has been met with disappointment, particularly given Gambaryan's deteriorating health after over 220 days of detention. A Binance spokesperson expressed the company's commitment to working with the Nigerian government to resolve the issue. Gambaryan, who heads financia…
Oct. 11, 2024, 9:52 a.m.
Policy
Former FTX Client Takes Hedge Fund to Court Over Alleged Breach of Bankruptcy Settlement
A former California-based FTX customer is taking Olympus Peak hedge fund to court, alleging the firm's bankruptcy claims purchasing arm has reneged on its promise to make payments on a claim sold to them. According to court documents filed in the U.S. District Court Southern District Of New York, Alexander Nikolas Gierczyk agreed to sell his $1.59 million FTX bankruptcy claim to Olympus Peak Trad…
Oct. 11, 2024, 9:16 a.m.