“DCG and Moro painted a misleadingly rosy picture,” the acting director of the SEC’s enforcement division, Sanjay Wadhwa, wrote.
As Gary Gensler prepares to announce his resignation, some SEC officials have said they will step down before Donald Trump’s inauguration.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Digital Currency Group agreed to settle and pay $38 million to the SEC on Friday over allegations that it misled investors.
As rumors of the possible approval of Litecoin ETF widely spread, LTC price jumped by 18% over 24 hours to $118. Launched as an alternative for Bitcoin in 2011, the cryptocurrency draws much interest among analysts and investors alike. Canary Capital has made a significant step forward in its quest for a Litecoin ETF. The company recently filed an amendment to its S-1 registration form with the US Securities and Exchange Commission, a move that industry experts interpret as a sign of ongoing discussions with the regulatory body. Related Reading: Expert Sees Bitcoin Dipping To $50K While Bullish Momentum Persists For market watchers and crypto aficionados alike, this development has spurred a great ounce of optimism. Considered as a good indication of possible approval, the revised filing indicates that the SEC has responded on Canary’s application. Analysts Comment On Litecoin ETF Approval Prospects Senior ETF analyst Eric Balchunas of Bloomberg has publicly expressed his opinion that the “most likely” contender for the next spot crypto ETF approval is a Litecoin ETF. This prediction has gained traction in the crypto community. Balchunas does, however, also recognize the uncertainties the forthcoming shift in SEC leadership brings. Though the date of his Senate confirmation is yet unknown, the choice of former SEC commissioner Paul Atkins—considered crypto-friendly—by President-elect Donald Trump has spurred hope even further. We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, new SEC chair has yet to start and that’s a huge variable. https://t.co/cKFswPwcr0 — Eric Balchunas (@EricBalchunas) January 15, 2025 James Seyffart, another Bloomberg ETF expert, said that the change could mean that the SEC has given feedback on the application. NEW: @CanaryFunds just filed an amended S-1 for their Litecoin ETF filing. No guarantees — but this might be indicative of SEC engagement on the filing. Still no 19b-4 filing yet though (A 19b-4 would actually start the potential approval/denial clock) h/t @isabelletanlee pic.twitter.com/wFtNOmbmYx — James Seyffart (@JSeyff) January 15, 2025 Investor Activity & Market Reaction A Litecoin ETF promises to set off a major market reaction. Large holders of Litecoin have been accumulating the cryptocurrency, with addresses holding at least 10,000 LTC collectively acquiring an additional 250,000 LTC since January 9. Related Reading: Analyst Declares XRP A Bullish Favorite – Rally Imminent? This trend of buying more Litecoin is similar to what happened in early December. It shows that big traders are having a strong effect on Litecoin’s price trajectory. The trading activity has also increased sharply, with Litecoin’s 24-hour volume jumping over 240%, reaching $1.7 billion. Implications For The Crypto Market If approved, a Litecoin ETF would represent a big milestone for the digital currency. Litecoin would then join Bitcoin and Ethereum as the only cryptocurrencies with US-approved spot ETFs, strengthening its market position. Featured image from DALL-E, chart from TradingView
With lawsuits still pending over Solana’s classification as a security, SOL ETFs will likely have to wait until next year for their debut.
Crypto-friendly trading platform eToro has filed for a US IPO, reportedly targeting a $5 billion valuation with plans to expand by listing in New York soon.
Nasdaq Stock Market LLC has filed an essential form for garnering the U.S. SEC's approval of a spot Litecoin ETF.
The United States Securities and Exchange Commission (SEC) has submitted its opening brief to challenge a court decision favoring Ripple. In its Jan. 15 filing, the SEC claims that Ripple’s XRP sales to retail buyers should be classified as unregistered securities transactions. According to the SEC: “The district court erred both factually and legally in […]
The post Ripple CEO calls SEC’s appeal ‘insanity’ as legal fight intensifies appeared first on CryptoSlate.
The social stock and crypto trading platform could list in New York as soon as Q2, targeting a valuation of more than $5 billion.
The securities regulator wants an appeals court to rule that XRP tokens sold to retail investors were unregistered securities, the latest in its years-long case against Ripple Labs.
Two of the three Democratic commissioners at the SEC will be leaving before Donald Trump takes office on Jan. 20.
The SEC says a district court decision got it wrong when it decided the sale of XRP to retail investors didn't violate securities laws.
According to the filing, the fund will invest 80% or more of its assets in digital transformation companies and digital asset instruments.
The ETF aims to give investors exposure to a diverse basket of cryptocurrencies such as SOL, XRP and ADA, among others.
XRP’s market cap has climbed to the 3rd spot among top cryptocurrencies by market cap and surpasses asset manager BlackRock.
The next few weeks are shaping up to be a whirlwind as Trump returns to Washington D.C. with plans to issue executive orders and much more.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Top Republican leads at the SEC are weighing whether to start a process that could lead to more clarity for crypto, according to Reuters.
Investors’ appetite for Bitcoin exchange-traded funds (ETFs) remains strong even as the US Securities and Exchange Commission (SEC) remains cautious as recent outflows hit the market. Bitcoin ETF flows According to SoSoValue data, the US-based spot Bitcoin ETFs experienced significant outflows over the past four days, totaling $1.2 billion. On Jan. 14, the 12 spot […]
The post Interest in Bitcoin ETFs persists despite SEC delays and significant $1.2B outflows appeared first on CryptoSlate.
Ripple has committed $100,000 in XRP to aid relief efforts for victims of the devastating California wildfires. According to a Jan. 14 statement, this contribution was channeled to World Central Kitchen and GiveDirectly, two organizations actively providing meals and financial assistance to those affected. The firm stated that its donation was facilitated through The Giving […]
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Elon Musk, the billionaire entrepreneur and CEO of Tesla, has criticized the US Securities and Exchange Commission (SEC) over its lawsuit regarding his delayed disclosure of a significant stake in Twitter, now rebranded as X. The lawsuit marks a culmination of the SEC’s scrutiny of Musk’s investment activities with the social media platform in 2022. […]
The post Elon Musk slams SEC as ‘broken’ over ‘artificially’ created $150 million Twitter stock windfall appeared first on CryptoSlate.
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Elon Musk, accusing him of breaking securities laws. The SEC claims Musk delayed disclosing his 5% ownership in Twitter, allowing him to buy more shares at lower prices, allegedly underpaying by $150 million. Typically, such a stake requires timely public disclosure, but Musk …
The US Securities and Exchange Commission alleges Musk violated US securities laws by failing to timely disclose that he owned over 5% of Twitter’s stock in early 2022.
According to Ripple’s chief legal officer, the SEC will continue with its appeal of a judgment in the civil case despite Chair Gary Gensler stepping down in six days.
The SEC chair is set to leave office in six days, the same day Donald Trump is scheduled to be inaugurated as president in Washington, DC.
Robinhood Markets has agreed to pay $45 million to settle its cases filed by the US Securities and Exchange Commission (SEC). In a document shared by the agency, Robinhood Markets violated rules on blue sheet filing, identity theft, and suspicious activity reporting, including a 2021 data breach that exposed customers’ data. Related Reading: Hong Kong […]
Telegram-linked blockchain project, TON, is set to focus on growth in the US market under the incoming administration of US President-elect Donald Trump.
Robinhood has agreed to pay $45 million in civil penalties to settle charges of securities law violations. According to a Jan. 13 statement, this settlement follows an investigation by the US Securities and Exchange Commission (SEC) into the activities of its subsidiaries, Robinhood Securities LLC and Robinhood Financial LLC. The penalties include $33.5 million from […]
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A panel of judges said it would not force the SEC to implement rulemaking on crypto, but one referred to the commission’s “fogginess” as potentially harming digital asset firms.