Gemini CEO Criticizes Grayscale Bitcoin Trust as SEC Denies Spot Bitcoin ETF Application for 10 Years
July 2 (Cointime) - Gemini CEO Cameron Winklevoss has criticized the Grayscale Bitcoin Trust (GBTC) on Twitter, calling it a "toxic product." He also expressed frustration with the SEC's rejection of Gemini's application for a spot Bitcoin ETF 10 years ago, which he believes has deprived US investors of the opportunity to participate in one of the best-performing assets of the past decade.
Former SEC Official Defends Chair Gensler, Urges Crypto Community to Focus on Facts Rather Than Personal Attacks
July 16 (Cointime) - John Reed Stark, former head of internet enforcement at the US Securities and Exchange Commission (SEC), has defended SEC Chairman Gary Gensler's approach to regulating the crypto industry. Stark called on the crypto community to stop personal attacks on Gensler and instead focus on the facts and law. He also cited SEC Commissioner Hester Peirce as an example of someone with a clear pro-crypto ethos who would not recuse themselves from enforcement actions concerning crypto.
SEC's Anonymous official：Chairman Gary Gensler is going to resign following an Internal Investigation
July 2 (Cointime) -According to WhaleChart, Anonymous official at the SEC has reportedly disclosed that chairman Gary Gensler is going to resign following an internal investigation.
Bittrex Challenges SEC's Authority in Lawsuit Dismissal Motion
July 2 (Cointime) - Cryptocurrency exchange Bittrex has submitted a motion to dismiss the lawsuit filed against it by the United States Securities and Exchange Commission (SEC), arguing that the SEC does not have the authority to regulate cryptocurrencies as securities without explicit permission from Congress. Bittrex's legal team has aligned its arguments with those made by Coinbase, indicating a strategic move to construct a unified defense against the SEC's lawsuit. Both Bittrex and Coinbase argue that once an asset is launched and actively traded on secondary markets, it should no longer be considered a security, but rather categorized as a commodity or another class of digital asset. The SEC filed allegations against Bittrex and its co-founder in April for running an unregistered national securities exchange.
Bitcoin price drops after SEC deems ETF applications "inadequate"
July 2 (Cointime) - Bitcoin's price dropped by approximately 3% in a matter of minutes on Friday morning, falling from above $31,000 to briefly below $30,000. This sudden dip followed a report from the Wall Street Journal that the US Securities and Exchange Commission (SEC) had deemed the applications for a Bitcoin spot exchange-traded fund submitted by Nasdaq and Cboe on behalf of asset managers like BlackRock as "inadequate". The SEC said that the applications did not provide enough detail on surveillance-sharing agreements and the Bitcoin spot exchanges that the asset managers planned to partner with. Despite this setback, the SEC has said that the exchanges can update their applications and refile.
Bitcoin Volatility Continues as SEC Returns ETF Applications, Short-Term Holders Send Coins to Exchanges
July 1 (Cointime) - Bitcoin had a volatile trading session on the last day of the quarter, with short-term holders sending over 35,000 coins to exchanges, indicating nervousness among speculators. The SEC returned applications for a Bitcoin spot-price ETF due to a technical issue, causing a knee-jerk reaction, but the downside was limited as asset managers can refile after providing necessary clarifications. Meanwhile, XRP/USDT may drop to $0.41, but this level could attract strong buying from the bulls, and Polkadot's price is being supported by bullish investors attempting to break the overhead hurdle at $5.15. It is important to note that this article is for informational purposes only and does not provide investment advice.
Bittrex Offers Zero Trading Fees for XRP, Cardano (ADA), and Dogecoin (DOGE) Traders on USDT Markets
July 1 (Cointime) - Seattle-based crypto exchange Bittrex is offering zero trading fees on its USDT markets, including BTC, ETH, ADA, DOGE, and XRP. This move comes despite the SEC labeling XRP and Cardano as "securities" in past lawsuits. Bittrex and its co-founder William Shihara have filed motions to dismiss the SEC's complaint, with a legal expert commending their decision not to agree to a speedy settlement. Bittrex argues that crypto assets traded on secondary markets are not securities and that the SEC lacks authority in this area under the Major Questions Doctrine.
Bittrex Seeks to Dismiss SEC Lawsuit, Following Coinbase's Template
July 1 (Cointime) - Bittrex, a cryptocurrency exchange, has filed a motion to dismiss a lawsuit brought against it by the U.S. Securities and Exchange Commission (SEC) alleging that the firm operated an unregistered securities exchange.
US House Financial Services Committee Chairman Criticizes SEC Chair for Inadequate Spot Bitcoin ETF Filings
July 1 (Cointime) - US House Financial Services Committee Chairman Patrick McHenry has criticized SEC Chair Gary Gensler for calling spot Bitcoin ETF filings by financial giants "inadequate". McHenry urged the SEC to look into a spot Bitcoin ETF, claiming that it will provide investors with a regulated product.
Bitcoin Price Rises Above $30K as Fidelity and Others Refile ETF Applications After SEC Criticism
July 1 (Cointime) - The price of Bitcoin has surpassed $30,000 following the refiling of BTC Spot ETF applications by several traditional financial firms.
