More Bitcoin ETF Rejections ‘Quite Likely,’ BitGo’s Belshe Says
BitGo CEO Mike Belshe said it’s “quite likely” the Securities and Exchange Commission (SEC) will reject a series of spot bitcoin ETF applications despite industrywide optimism.
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BitGo
BitGo CEO Mike Belshe said it’s “quite likely” the Securities and Exchange Commission (SEC) will reject a series of spot bitcoin ETF applications despite industrywide optimism.
The network effect of BitGo’s cold storage settlement system and Copper’s ClearLoop comprises exchanges like Bybit, OKX, Powertrade, Bitget, Gate.io, Deribit, BIT, Bitfinex, and Bitstamp.
Onramp is harnessing multisig security, in which multiple custodians control the private keys to the bitcoin being held, tapping BitGo to perform this role alongside Coincover and Kingdom Trust.
“It’s important to us to build a custodian without the risks of securing many altcoins within the same trust company as bitcoin,” Cory Klippsten, CEO of Swan, said.
If a financial giant can’t navigate the red tape, who can?
Prime Trust CEO Tom Pageler. (Prime Trust)
CEO Mike Belshe said he sees consolidation in the crypto custody sector in the next six months.
Prime Trust has been losing clients and deposits to competitors for weeks amid mounting concerns over its business, a source at one former client told CoinDesk.