This Week on Crypto Twitter: Grayscale Beats SEC, SEC Postpones ETF Applications
Illustration by Mitchell Priver for decoding
He. She was another Relatively quiet week In the markets and on Twitter. The biggest noise in cryptocurrency news was heard on Tuesday, when a judge told the US Securities and Exchange Commission (SEC) that its denial of crypto asset management firm Grayscale’s spot Bitcoin ETF application would have to be reviewed. The Federal Court of Appeals said the SEC failed to provide “coherent interpretationto deny it.
Prices rose on the news. But by the end of the month, the already slow week had come to a screeching halt after news broke that the SEC had delayed judgment on not one, not two, but A handful of ETFs in the Bitcoin spot market applications, including the application of the giant asset management company BlackRock.
The developments were followed closely on Crypto Twitter, as the community issued some rulings of its own this week.
On Monday, crypto fan @0xSysiphos He noted a high rate of redemptions for Circle’s dollar-pegged currency (USDC). Circle’s stablecoin has fallen from its all-time high market cap of approx $56 billion in the summer of last year to less than half that amount — $26 billion — today, the lowest level in two years.
Researcher Rebecca Stephens, data analyst for BlocShare some thoughts on the decline of USDC dominance on Ethereum.
SEC Commissioner Hester Pierce once again She argued against the collective decision of her organization. Earlier this year, he used Pierce strong words To condemn the SEC for proposing to change the definition of “exchange” in an effort to bring cryptocurrency exchanges under their jurisdiction.
Anthony Power, a British bitcoin mining analyst, analyzed miners’ earnings figures for the second quarter of this year.
According to cryptocurrency attorney Stephen Paley, a lawsuit against decentralized exchange Uniswap was dismissed by a New York judge on Tuesday.
The latest StarWare update request is another note from @0xSysiphoswho noticed anyone caught up in the mess is an easy contender for the unhappiest customer in the industry this week.
On Wednesday, cryptocurrency-loving US Republican presidential candidate Vivek Ramaswamy celebrated Grayscale’s victory over the SEC.
bloomberg ETF expert James Seifart was on the front lines when the SEC began issuing notices to say it was delaying delivery of its ruling on multiple ETF applications.
This included asset management giant BlackRock:
Travis Kling, Founder and Chief Investment Officer of crypto asset management firm Ikigai, has read a lot about the launch of a new perpetual BNB futures contract on Bitfinex.
Superphiz, a staking advisor to the Ethereum Beacon Chain community, tweeted about how the network is decentralizing itself through orchestration.
TRON Founder and President Justin Sun shared some Chinese whispers on Friday.
Then Chinese blockchain journalist Colin Wu broke the story.
Finally, James Seifart is back on Friday. This time, he was trying to determine why BlackRock’s delay letter was not posted on the SEC’s website. so interesting!