Do Kwon’s SEC Case May Hinge on Role of Jump Trading, Court Documents Show
Kwon has been accused of misleading investors about the terraUSD stablecoin, whose 2022 collapse ricocheted around the crypto world.
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Kwon has been accused of misleading investors about the terraUSD stablecoin, whose 2022 collapse ricocheted around the crypto world.
The narrowing of the discount likely represents increased likelihood that Grayscale will be able to convert its close-ended bitcoin trust into a spot-based exchange-traded fund.
Traders could be betting on a development that buoys hopes for a spot bitcoin ETF in the US.
The SEC has hours left to seek an appeal of the court order to erase the agency’s rejection of Grayscale’s trust-to-ETF conversion application.
SEC Chair Gary Gensler, left, and Ripple CEO Brad Garlinghouse are at the center of the U.S. dispute over the future of crypto oversight. (Kevin Dietsch/Getty and Scott Moore/Shutterstock/CoinDesk)
“To distract from the fatal flaws in its legal arguments, Coinbase cries foul and seeks to blame the SEC for its current legal predicament,” the SEC said in a Tuesday court filing.
SEC recently extended deadlines for ARK, GlobalX spot bitcoin ETFs.
Binance, Binance.US and Changpeng Zhao filed to dismiss a Securities and Exchange Commission (SEC) lawsuit Thursday, claiming the regulator hadn’t “plausibly alleged” various securities-related violations.
A U.S. judge declined to order Binance.US to make its executives more available for depositions, or for the U.S. Securities and Exchange Commission (SEC) to back down in its demands for more documents during a hearing Monday.
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