This Week on Unchained: Grayscale's Victory, SEC's Aggressiveness, DeFi Oracles, and More!
Don't miss this week's content!
This week’s emphatic ruling in favor of Grayscale in its suit against the SEC to convert its massive bitcoin trust into an ETF generated plenty of hopium among the bitcoin faithful that a spot bitcoin ETF will get approved soon and open a flood of investment in bitcoin. What are the odds of that truly happening now, though, and if it did, how much additional money could wind up being invested in bitcoin as a result?
Also, which companies’ applications would get approved first and how would the various products compete with one other? Bloomberg’s senior ETF analyst Eric Balchunas separates the hype from the reality in answering these questions and more.
This week, the gang goes in depth with Coinbase chief legal officer Paul Grewal to discuss Grayscale’s win in its court case against the SEC, Coinbase’s ongoing dust-up with the SEC, the onerous new crypto reporting regulations proposed by the U.S. Treasury, and the unsettling legal arguments behind the government crackdown on Tornado Cash.
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.
In Case You Missed It 👀
SEC Delays Decisions on All Six Spot Bitcoin ETF Applications
The SEC has delayed its decision on whether to approve or deny spot Bitcoin ETFs from all existing applicants, including BlackRock and Fidelity.
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.
DCG and Genesis Reach In-Principle Deal With Creditors
The company is finalizing a restructuring agreement that would either result in a sale of Genesis or turn over its equity to creditors.
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