CRYPTO POLICY

Like BlackRock and ARK, Grayscale also initially said it would use the in-kind creation and redemption model on its spot Bitcoin ETF. But as Wall Street giants ironed out details with the regulator – probably looking to be a part of the first wave of applications to be approved by the commission in the early part of January – almost all of them, surrendered.

In a Reddit thread, several users claimed to have received payments from the now-defunct Bitcoin exchange distributed via Japanese Yen-denominated refund on PayPal.

Silbert, who is the CEO of the Digital Currency Group -- the parent company of Grayscale -- resigned from his post effective Jan. 1, 2024.

Over the past few weeks, several companies, including Blackrock and ARK, amended their S-1 registration with the SEC, to make it to the supposed first batch of approved spot Bitcoin ETF issuers.

SEC officials reportedly informed issuers that those who were not able to meet the deadline set by the commission would not be included in the "first wave" of approvals scheduled in the early part of January.

Last week, the SEC reportedly called every applicant and offered them two choices: amend their filings by including cash creation and redemption model or else wait.

This detail was first caught by Bloomberg Intelligence ETF analysts, and for Eric Balchunas, it highlights the big bump from the $100,000 BlackRock seeded to the fund in October, as well as the timeline for when the firm plans to seed it again.

French regulatory authorities granted regulatory approvals to foreign cryptocurrency businesses Coinbase and Circle on Thursday.

The SEC and Terraform Labs have agreed to the terms approved by the court, requiring both parties to not disclose materials marked as confidential. All discovery filings marked as confidential should also be sealed.

Besides approving ARK's spot Bitcoin ETF, it is believed that the regulator could also give the go signal to several other applications on Jan. 10, a report said, citing a recent SEC guideline seen by "sources close to these firms."

The idea of batch approvals was first mentioned by ARK's Cathie Wood in August. She said the SEC might approve multiple BTC ETF filings simultaneously, but not within the expected deadline.

The former crypto billionaire was found guilty on seven counts of fraud for allegedly misusing billions in customer funds before the spectacular collapse of his crypto empire, FTX.

The major Wall Street regulator has reportedly instructed spot Bitcoin ETF applicants to amend their filings and use the cash creation and redemption model.

Saylor was once against Bitcoin, and in one of his previous tweets, he predicted the crypto asset would suffer the same fate as online gambling.

Novogratz thinks the approval of the highly anticipated Bitcoin investment vehicle will benefit markets since it will add "more fuel for a fire" that would eventually trigger crypto assets to trade "like a maniac."

Prior to Kwon's extradition appeal, a report alleged that Montenegro's Justice Minister, Andrej Milovic, had already made the decision to send Kwon to the U.S. before it was publicly announced.

BlackRock's decision to change Coinbase's role from a prime broker to a prime execution agent may indicate possible alterations in the perceived responsibilities of Coinbase on the investment giant's iShares Bitcoin Trust, its proposed spot Bitcoin ETF.

Bitcoin ended last week at around $41,400, recording a 5.5% loss from the previous week's closing value of around $43,800. It continued to dip Monday, reaching a weekly low of about $40,425.

Sonnenshein, in an interview, talked about the importance of launching a spot Bitcoin ETF in the U.S., highlighting the magnitude of wealth held within advised assets and the significant opportunity a regulated BTC ETF could offer to tap into these vast resources.

Aside from the payment of fines, the court order also obligates Binance and Zhao to issue certifications on the existence of the application and efficacy of improved compliance control of Binance and "permanently enjoins them from further violations as charged."

ARK's latest move suggests that the U.S. Securities and Exchange Commission did not budge on its preferred creations and redemptions model.

BlackRock had two choices for its spot Bitcoin ETF application – give in to the SEC's preferred model or wait until the regulator approves in-kind redemption.

In October, Sen. Cynthia Lummis and Rep. French Hill urged Attorney General Merrick Garland "to carefully evaluate the extent to which Binance and Tether are providing material support and resources to support terrorism."

Jan van Eck says he does not see another "internet store of value" that will surface and "leapfrog" Bitcoin.

The latest movements of ETH stashes by Celsius and FTX underscore the strategic reactions of both crypto businesses to the positive movement of the market.

Bitwise predicts Bitcoin to hit a record high surpassing $80,000 next year, crediting this surge to two main factors: the Bitcoin Halving event and the upcoming launch of a spot Bitcoin exchange-traded fund (ETF) in the U.S.

The details were presented by BlackRock to the officials at the U.S. Securities and Exchange Commission (SEC) late last month in its proposed "In-kind Redemption Prepay."

In its recent filing, the spot Bitcoin ETF registration underlined that it will only use cash creations in response to the SEC's instruction to use the cash redemption model.

Recent accounting rule adoption allows crypto companies and private institutions holding crypto assets to record their tokens at fair value, with changes reflected in net income.