Shrimpy Launches Advisory Desk for Investing in Crypto Assets

Shrimpy – a cryptocurrency market portal and portfolio manager – has announced the upcoming launch of its crypto industry advisory desk. This month, Shrimpy was recognized by the Securities and Exchange Commission (SEC) as a registered investment advisor. With this, the company has launched an actively managed portfolio service. The team will invest in cryptocurrencies on its customer’s behalf, promising “low volatility” and “no rug pulls”. This service will be handled by humans, as opposed to Shrimpy’s automated investment options.…

Binance Supported Elon Musk’s Twitter Takeover With $500M, Says SEC Filing

Binance – the world’s largest cryptocurrency exchange – is among a list of major equity investors backing Elon Musk’s Twitter bid. The company supported the tech mogul with $500 million, alongside an additional $1 billion from other crypto-supportive firms. Binance Backs Elon Binance’s backing was revealed in an updated Schedule 13D filing with the Securities and Exchange Commission (SEC) on Wednesday. It lists 19 different parties that contributed a total of around $7.1 billion to the Tesla CEO. Elon Musk…

Lawmakers and Crypto Bodies React to SEC’s Proposed Rule Changes

Republican members of the US congressional committee responded to the SEC's recently proposed regulation on the definition of an  “exchange”. Some of the committee members think the adjustments do not favor decentralized outfits. Also, they expressed their concern that the changes could come back to haunt them. Asides concerns from the committee, several notable bodies have also raised objections against the draft. The US SEC’s Proposed Rule This time last month, the Securities and Exchange Commission proposed an amendment regarding…

The SEC Will Certainly Approve a Bitcoin Spot ETF, says Grayscale’s CEO

Grayscale CEO Michael Sonnenshein believes it's only a matter of time before a Bitcoin spot ETF gets permission in the United States. He recently claimed that there may be grounds for a lawsuit against the commission if they don’t. A Matter of ‘When’ Speaking with CNBC last week, Sonnenshein explained why a recent futures ETF approval spells optimism for an upcoming spot variant. The SEC greenlighted the  Teucrium Bitcoin Futures ETF earlier this month, which was filed under the Securities…

SEC Refuses Ark 21Shares’ Bitcoin ETF Proposal 

On Friday, the United States Securities Exchange Commission turned down Ark 21Shares' Bitcoin ETF proposal. The commission's refusal makes it its sixth rejection of crypto ETFs within the space of a year. The SEC Cites its Reasons On Friday, April 1, The United States Securities Exchange Commission (SEC) delivered its verdict on Ark 21Shares' spot Bitcoin ETF proposal after several postponements. The SEC refused to approve the application, stating that the ETF did not provide adequate protection against manipulation or…

Court Rejects Motions to Drop SEC Lawsuits Amid Ripple Positives

A New York court has declined to drop the Security and Exchange Commission's lawsuit against payments processing company, Ripple. Interestingly, the court also dismissed SEC’s motion against Ripple. Ripple’s CEO Brad Garlinghouse has declared the latest development a “huge win”. Judge Denies Execs' Dismissal Motions A New York court turned down the motions of two senior executives at Ripple to dismiss the pending lawsuit against them. The verdict, delivered by Magistrate Analisa Torres, nullified the executives' motions to drop the…

Binance Halts Activities In Israel Amid Regulatory Scrutiny

Facing increased scrutiny from the country's financial regulators, Binance paused all of its services in Israel. BNB token plunged on the news. On Thursday, Israel's Capital Markets Authority, the country's chief financial regulator, asked Binance to clarify its activities. In particular, Israeli authorities asked Binance to clarify the services it provides and the license under which it operates. According to the regulator, one of the largest exchanges in the world has stopped key operations after the probe. Following the intervention of…

SEC Launches Investigation into Binance.US

The United States Securities and Exchange Commission (SEC) is reportedly looking into Binance.US. Binance.US is the American division of the world’s biggest crypto exchange. At writing, the SEC’s major objective during its rumored probe is to discern Binance.US’s relationship with two trading companies, Merit Peak Ltd and Sigma Chain AG.  The aforementioned companies provide liquidity for Binance in exchange for the spread on executed trade orders. Documents dating back to 2019 connect Binance CEO Changpeng Zhao to both trading firms.…

Are We Quite Sure That Ethereum Isn’t A Security?

The Securities and Exchange Commission (SEC) remains hazy on which cryptocurrencies are “securities'', versus “commodities”. Even Ethereum isn’t out of the woods.    The SEC is notoriously slow at providing regulatory clarity for the crypto industry. Besides its strange hostility toward permitting a Bitcoin spot ETF, the commission refuses to classify which cryptocurrencies are securities. Instead, SEC chairman Gary Gensler continues to make vague statements on the matter that shake confidence in every altcoin holder. In a September conversation with…

1 2 3 7