This Week in Crypto Twitter: Grayscale Wins Against SEC, SEC Delays ETF Applications

Illustrated by Mitchell Prefer for Decrypt

it is was another Relatively quiet week In the market and on Twitter. The biggest uproar in crypto news was heard on Tuesday, when a judge told the US Securities and Exchange Commission (SEC) to review the denial of crypto asset manager Greyscale’s spot bitcoin ETF application. A federal appeals court held that the SEC failed to provide a “coherent explanation“For its denial.

Prices increased on the news. But by the end of the month, the already slow week came to a screeching halt after word spread that the SEC had delayed not one, not two, but a ruling. A handful of bitcoin spot market ETFs Apps with asset manager giant BlackRock.

The developments were followed closely on crypto Twitter, where the community issued some of its own verdicts this week.

Monday, Crypto Fan @0xSissyphus Circle noted high redemption rates for dollar-pegged USD coins (USDC). Circle’s stablecoin has nearly fallen from its all-time high market cap $56 billion Today is less than half that last summer—$26 billion—which marks a two-year low.

Researcher Rebecca Stevens, a data analyst for barrierShares some insight into the declining dominance of USDC on Ethereum

SEC Commissioner Hester Pierce one more time Argued against a collective decision formed by his organization. Earlier this year, Pierce was used Strong words Condemning the SEC for proposing to change the definition of “exchange” in an effort to bring crypto exchanges under its jurisdiction.

British Bitcoin mining analyst Anthony Power downplayed the number of miners earning in the second quarter of this year.

A lawsuit against decentralized exchange Uniswap was dismissed by a New York judge on Tuesday, according to crypto-savvy lawyer Stephen Paley.

Another note requested from the latest Starware update @0xSissyphusWho observed that anyone caught in the mess is an easy contender for the industry’s unluckiest customer this week.

On Wednesday, crypto-loving Republican US presidential candidate Vivek Ramaswamy celebrated grayscale’s victory at the SEC.

Bloomberg ETF expert James Seifert was on the front lines as the SEC began issuing notices that it was delaying its rulings on multiple ETF applications.

This includes asset manager giant BlackRock:

Travis Kling, founder and chief investment officer of crypto asset manager Ikigai, has read a lot about the launch of a new BNB perpetual futures contract on Bitfinex.

Superfiz, a staking consultant for the Ethereum beacon chain community, tweeted about how the network decentralizes itself through coordination.

TRON founder and chief Justin Sun shared some Chinese whispers on Friday.

Chinese blockchain journalist Colin Wu then picked up the story.

James Seifert finally returned on Friday. This time, he was trying to determine why BlackRock’s delay letter was not posted on the SEC’s website. Very interesting!

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