Grayscale’s legal challenge to SEC sparks response from the community
From accusing the SEC of suppressing Bitcoin to suggesting alternatives, the community responded in various ways to Grayscale’s legal challenge against the SEC. After Grayscale’s application to convert its Grayscale Bitcoin Trust (GBTC) into a Bitcoin (BTC) exchange-traded fund (ETF) was denied, the firm launched a legal challenge against the United States Securities and Exchanges Commission. Following these events, the community responded with various reactions, from accusing the SEC of price manipulation to suggesting different solutions. Redditor u/ThatsMRcurmudgeon2u, who introduced....
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On August 29, the US Court of Appeals ruled in favor of Grayscale in its legal battle against the US Securities and Exchange Commission (SEC). Following this, Grayscale’s GBTC shares trading volume significantly increased, climbing to a 2-year high in the process. GBTC Shares See 17% Increase According to data from Yahoo Finance, GBTC’s share price had opened at $17.66 on the day and closed at $20.56, rising by almost 17% from the previous day. Furthermore, the fund saw its busiest day in over a year, with over 19 million GBTC shares changing hands. This volume jump marked the fund’s....
Ahead of the July 6 SEC decision, the investment giant has hired Don Verrilli, a former U.S. Solicitor General as a senior legal strategist, working alongside its attorneys at Davis Polk & Wardwell LLP and its in-house counsel. Grayscale Investments has hired a former U.S. Solicitor General in preparation for a potential legal spat with the U.S. Securities and Exchange Commission (SEC), should the regulator reject its application for a spot Bitcoin (BTC) exchange-traded fund (ETF) on July 6.The company has been waiting on a decision from the SEC to convert its flagship $19.8 billion....
After weeks of continued bullishness, Helium has now succumbed to the bearish pressure going against the grain as the broader market skyrockets in the short term. The latest market data shows that HNT fell by nearly 16% since last week, leading to a flip in investor sentiment. Related Reading: Bitcoin Mine Shutdown In Norway Sparks […]
The D.C. Circuit Court of Appeals was expected to give a ruling on Grayscale’s Spot Bitcoin ETF lawsuit against the United States Securities and Exchange Commission (SEC) on August 22 following its failure to do so on August 18. However, the crypto community would have to wait longer as the court has once again failed to make a decision. Court Delays Spot Bitcoin ETF Decision For The Third Time According to a tweet by Grayscale’s Chief Legal Officer Craig Salm, the appeal court failed to make a decision regarding his company’s lawsuit against the SEC. However, he pointed out that there....
A similar decision was also made on Wednesday regarding Bitwise’s Bitcoin exchange-traded product (ETP) citing the same reasons. Grayscale has announced a legal challenge to the latest rejection of its application to convert the Grayscale Bitcoin Trust (GBTC) into a spot-based Bitcoin exchange-traded fund (ETF) by the Securities and Exchange Commission.It announced that its Senior Legal Strategist, former U.S. Solicitor General, and partner at Munger, Tolles & Olson, Donald B. Verrilli, Jr. had filed a petition for review with the United States Court of Appeals for the District of Columbia....