1,890 BTC transferred from Unknown Wallet to Coinbase
According to Whalealert, 1,890 BTC (56,413,603 USD) transferred from unknown wallet to Coinbase
Ark Invest CEO Cathie Wood Bullish on Bitcoin, Predicts $1.5 Million Per Coin in Bull Case
Cathie Wood, CEO of Ark Invest, has a positive outlook on Bitcoin and predicts a bull case of $1.5 million per coin and a best case of $625,000. She believes Bitcoin is a hedge against counterparty risk, especially after the regional bank crisis in March. Wood defends her investment strategy and claims that Ark's active management approach is making a comeback, outperforming the NASDAQ 100. Despite her optimism for Coinbase, Wood has reallocated some of her stake towards "laggards" like genomic companies and Teradyne.
SEC Accepts Valkyrie's Bitcoin ETF Proposal for Review, Second in a Week
The U.S. Securities and Exchange Commission (SEC) has accepted a second application for a Bitcoin ETF to be reviewed within a week. Valkyrie's proposal for a spot Bitcoin ETF, the Valkyrie Bitcoin Fund, was added to the SEC's official docket on Monday. The proposal was resubmitted on June 21, just five days after BlackRock's ETF proposal, and includes Coinbase as a "surveillance-sharing" partner.
Cathie Wood remains Positive on Coinbase following Ripple's Partial Victory over SEC
Cathie Wood, CEO of ARK Investment Management, expressed her positive outlook on Coinbase following Ripple's recent legal victory against the SEC. Although the ruling did not fully favor Ripple, Wood believes it is a positive outcome for crypto exchanges. She joins other industry experts in suggesting that the ruling could set a precedent for Coinbase and Binance in their legal battles with the SEC. Despite receiving a Wells Notice and facing a lawsuit from the SEC, Coinbase's stock value has remained robust. However, investment firm Berenberg Capital Markets warns that regulation for crypto exchanges is still unresolved, and Coinbase Earn may be vulnerable to being defined as a security.
Coinbase CEO to meet US House Democrats on Wednesday
Coinbase CEO Brian Armstrong is reportedly scheduled to meet with a group of centrist House Democrats to discuss digital-asset legislation, tax, national security, privacy, and climate. The meeting will be held behind closed doors on Wednesday morning. Armstrong has been an outspoken critic of the SEC and has pushed for clearer crypto rules in Washington. The crypto industry has recently attacked SEC Chair Gary Gensler after the agency sued Coinbase and Binance for allegedly breaking securities laws.
SEC Begins Review of Five Bitcoin ETF Applications, Including VanEck and Invesco Galaxy
The SEC has begun reviewing the latest bitcoin ETF applications, but the official review process won't start until the filings are published in the federal register. The regulator has requested public comments on all five of Cboe's ETF applications, including Wise Origin, WisdomTree, VanEck, Invesco Galaxy, and ARK 21Shares.
New York Judge Says SEC Could Have Warned Coinbase of Securities Law Violation Before Public Listing
A federal judge in New York has suggested that the US Securities and Exchange Commission (SEC) could have alerted Coinbase to potential securities law violations before approving its application to go public. The SEC filed a lawsuit against Coinbase in June, alleging that the firm sold unregistered securities.
Ripple's Legal Victory Against SEC Could Benefit Coinbase, JPMorgan Analysts Say
Ripple emerged victorious in its legal battle against the SEC, which accused the company of selling security-like XRP tokens to investors. The recent court ruling in Ripple's favor has caused a surge of enthusiasm in the cryptocurrency industry.
BlackRock and Bitwise Compete to Launch First Bitcoin ETF in the US
BlackRock and Bitwise are competing to introduce the first Bitcoin ETF in the US, with both firms seeking SEC approval. BlackRock's revised application for the iShares Bitcoin Trust includes a "surveillance sharing" clause, partnering with Coinbase crypto exchange to monitor and report potential illicit activities. Bitwise has also received acknowledgment for its spot Bitcoin ETF application, adding to the growing list of contenders.
Coinbase's Legal Dispute with SEC Draws Attention from the Crypto Industry
Coinbase, one of the largest cryptocurrency exchanges in the United States, has been caught in a legal dispute with the Securities and Exchange Commission (SEC). The SEC has accused Coinbase of planning to launch a lending product without registering it as a security. Coinbase has pushed back against the allegations, arguing that the product is not a security and that it has engaged in extensive discussions with the SEC.
