US SEC rejects Fidelity’s Bitcoin Spot ETF amid BTC price struggles
Another Bitcoin bear market and spot ETF rejection by US SEC has left market participants depressed. The Securities and Exchange Commission of the United States gave the spot Bitcoin ETF proposal from investing behemoth Fidelity a green light on January 27. SEC’s rejection of BTC Spot ETF The SEC denied Fidelity’s spot ETF on Thursday morning, according to a recently published document. The regulatory authority has highlighted concerns about cryptocurrency-related scams, manipulation, and investor protection in recent months. While the SEC has raised similar concerns in the past, they appear to have tightened their grip on crypto rules recently. The SEC’s rejection of a Bitcoin ETF proposal put forth by the Winkelvoss brothers Cameron and Tyler, owners of the Gemini exchange, goes back to their rejection of a Bitcoin ETF proposal put forward by the Winkelvoss brothers Cameron and Tyler, owners of the Gemini exchange. The SEC warned in a statement that any rule modification in favor of sanctioning the ETF would not be intended to prevent “fraudulent and manipulative activities and practices” or to “protect investors and the public interest.” The SEC went on to say regarding the BZX exchange: “BZX has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section.” Following Fidelity’s application in March 2021, the regulatory body extended its review window to accept or disapprove the offering in July and then in November. The US Securities and Exchange Commission (SEC) had already rejected a proposed spot ETF centered on Bitcoin from First Trust and Skybridge Capital on identical reasons. Stone Ridge and NYDIG are scheduled to make a decision on an ETF filing by mid-March. The Spot ETF Tussle Continues The Securities and Exchange Commission (SEC) authorized the first-ever Bitcoin […]
Canceled NFT Listing Sold for $14.8K in Opensea’s Latest Blunder
Due to Opensea’s advise, the victim of this error lost their NFT. The latest twist in the Opensea NFT saga demonstrates that the NFT marketplace’s errors are costing its consumers more and more money every day. Opensea blatantly messes up The most recent community update from Opensea urged its members to delete all listings of […]
Despite frequent outages, there are mixed feelings on Solana’s feasibility as an “Ethereum killer.”
Solana, dubbed as the Ethereum killer for most of 2021, has recently suffered network outages and performance issues. It had one of its slowest periods last week due to network congestion caused by the crypto market fall, which resulted in rejected transactions and stopped withdrawals on the network. Solana has had six outages this month […]
Blockdaemon, a crypto infrastructure firm raises $207 million at a valuation of $3.25B
Despite the crypto market’s current sea of red, unicorn valuations persist, with Blockdaemon being the most recent example. After a $207 million Series C led by Sapphire and Tiger Global on Wednesday, Blockdaemon claimed it had a $3.25 billion post-money valuation. In its September 2021 Series B, Blockdaemon was valued at $1.3B The company offers […]
Anthony Scaramucci gives hope to Bitcoin holder – says downtrend won’t last
The fall in bitcoin has undoubtedly shaken investors to their core, as indicated by the drop in the Fear & Greed Index. Investors are justifiably concerned about the market and what the coming weeks, and months, may store for them. If this is the beginning of a bear market, the next bull run might take […]