Grayscale wins lawsuit against SEC, while the agency settles first NFT case and Friend.tech hype crashes | TechCrunch
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If you’ve been dreaming about bitcoin spot ETFs, it’s time to talk to someone outside of the crypto world. This is coming from someone who literally had a dream about them this week.
  • AutoTL;DR@lemmings.worldBEnglish
    1·
    1 year ago

    This is the best summary I could come up with:

    Although this was a win for the digital asset firm, the SEC was also making headlines separately for its suit against an NFT project, which was fined $6 million.

    Meanwhile, in decentralized social media land, the Friend.tech hype — which I covered and highlighted community skepticism about — has fallen as daily transactions plummeted.

    Circuit Court of Appeals ruled in favor of Grayscale in a lawsuit against the U.S. Securities and Exchange Commission (SEC) on the matter of a bitcoin ETF.

    This ruling is in response to the SEC denying Grayscale’s application to convert its GBTC product into a bitcoin spot ETF in June 2022.

    We discussed why the ruling matters for Grayscale and its GBTC investment vehicle; as well as what it could mean for the crypto ecosystem and other firms like BlackRock, Citadel and Fidelity that also filed applications for bitcoin spot ETFs.

    Subscribe to Chain Reaction on Apple Podcasts, Spotify or your favorite pod platform to keep up with the latest episodes, and please leave us a review if you like what you hear!

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