Grayscale's ETF Dream to Come True? 🕊️
In today's edition: 🕵️♂️ SEC's sealed files on Binance, 🤔 SBF's witnesses barred?, 🎯 USDC on Base, and more!
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What’s Poppin’?
by Samyuktha Sriram
Grayscale Wins Lawsuit Against SEC Over Denial of Bid to Convert GBTC Into a Bitcoin ETF
The court of appeals ruled that the SEC’s denial of Grayscale’s proposal was “arbitrary and capricious.”
SEC’s Secret Court Filing in Binance Case Could Mean DOJ Criminal Probe
A former SEC official believes that the court documents introduced “under seal” could contain information about a criminal investigation or prosecution from the DOJ.
DOJ Moves to Bar All SBF’s Expert Witnesses From Testifying at Trial
Prosecutors argued that all seven proposed expert witnesses should not be permitted to testify before a jury.
Circle CEO Says USDC Will Launch Natively on Base Next Week
The firm expects that the Base version of USDC will replace the USD Base Coin (USDbC) that users have been relying on as a substitute.
On the Pod…
Oracles are all about bringing important data (mostly asset prices) onto the blockchain. As such, they’re a key part of decentralized finance. But oracle provider Pyth sees room for improvement as it relates to being more real-time than crypto incumbents like Chainlink. Mike Cahill, the CEO of a brand new Pyth-linked firm called Douro Labs, joins the show to explain the opportunity he sees in building better oracles.
Daily Bits…✍️✍️✍️
💵 A group of creditors opposed a tentative deal between bankrupt crypto lender Genesis Global Capital and parent company Digital Currency Group, calling the terms "wholly insufficient."
📑 The Department of Justice refuted Sam Bankman-Fried's claim that they are dumping “millions” of documents on him, stating he had access to the documents for months. Also, the DOJ argued that SBF's planned defense, claiming his lawyers approved alleged fraud, should be considered "irrelevant."
🚀 Coinbase's stock price surged 15% to $85.13 per share after a federal judge sided with Grayscale in its lawsuit against the SEC, boosting investor optimism for the digital asset exchange.
🏦 Tether partnered with privately-held Britannia Bank & Trust to handle dollar transfers amid increasing regulatory scrutiny on crypto firms.
📈 Binance Japan aims to triple its current token offerings to 100 and plans to collaborate with local exchanges for better liquidity.
📉 Robinhood Markets ended its crypto partnership with Jump Trading, as the latter reportedly pulled back from the U.S. market due to increased regulatory scrutiny.
🇺🇸 Bitcoin-friendly presidential candidate Francis Suarez withdrew from the race, despite previously advocating for Bitcoin donations and opposing central bank digital currencies.
🔒 Securitize tokenized a U.S. Treasury Yield fund on the XDC Network, allowing accredited investors to gain exposure to U.S. Treasury securities and ETF yields.
⛏️ Canaan reported a record $15.9 million in Q2 Bitcoin mining revenues, but high mining costs led to a net loss of $110.7 million for the quarter.
Today in Crypto Adoption...
🌎 Binance introduced Send Cash, a platform for transferring crypto via Binance Pay, initially available in nine Latin American countries for low-cost, quick transfers to bank accounts in Colombia and Argentina.
🧬 Zengo announced Legacy Transfer, a feature allowing users to designate beneficiaries for their crypto assets, built on its existing Multi-Party Computation infrastructure.
The $$$ Corner…
🌕 MoonPay unveiled its investment arm MoonPay Ventures, aimed at supporting early-stage web3 and fintech startups.
What Do You Meme?
Recommended Reads
Patrick Hansen on what will not need regulatory approval under the EU’s MiCA regulation
CoinDesk: A Crypto President? Top U.S. 2024 Contenders Aren’t Fans, and Rivals Are Way Behind
Unchained: Bitcoin ETFs Explained: What Are They & How Do They Work?
📈 Your Market Update 📉
BTC is up 5.2%, trading at $27,408
ETH is up 4.6%, trading at $1,718
BTC dominance: 46.97%
Crypto market cap: $1.14 trillion
*All data as of today, 7:15 am ET
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