Osprey sues Grayscale for misrepresenting likelihood of GBTC ETF approval

[ad_1] Digital asset manager Osprey Funds filed suit against Grayscale Investments in Connecticut Superior Court on Jan. 30, alleging violation of the state’s Unfair Trade Practices Act. The suit concerns Grayscale advertising and promotion of the Bitcoin (BTC) exchange-traded fund (ETF) it is seeking to create. Osprey stated in the suit that it is the only competitor to Grayscale on the over-the-counter traded Bitcoin trust asset management market, and Grayscale maintained

Justice Dept defends motion to bar SBF from accessing FTX, Alameda assets

[ad_1] United States prosecutors in the criminal case against former FTX chief executive officer Sam Bankman-Fried have released text and email messages from SBF to current CEO John Ray.In court documents for the Southern District of New York released on Jan. 30, the Justice Department responded to a motion from Bankman-Fried’s legal team attempting to remove some of the proposed modifications for his bail conditions, which included barring contact with

Arizona senator doubles down on crypto amid the winter of discontent: Law Decoded, Jan. 23-30

[ad_1] Even though this winter continues to stress test the case for Bitcoin (BTC) advocation, some lawmakers strive to put their names on the crypto hot list among the likes of United States Senators Cynthia Lummis and Pat Toomey. State Senator Wendy Rogers, 68, introduced two bold bills in the Arizona legislature. One focuses on making BTC legal tender in the U.S. state. If passed into law, BTC will have

New York financial regulator investigates Gemini over FDIC claims: Report

[ad_1] New York State’s Department of Financial Services is reportedly investigating cryptocurrency exchange Gemini over claims the firm made in regards to assets under its Earn lending program.According to a Jan. 30 report from Axios, the “New York State agency that regulates Gemini” — the Department of Financial Services handles firms falling under the states’ BitLicense regime, including the crypto exchange — was investigating following reports many users believed assets

Bitcoin aims for $25K as institutional demand increases and economic data soothes investor fears

[ad_1] Bitcoin (BTC) price broke above $22,500 on Jan. 20 and has since been able to defend that level — accumulating 40.5% gains in the month of January. The move accompanied improvements in the stock market, which also rallied after China dropped COVID-19 restrictions after three years of strict pandemic controls.E-commerce and entertainment companies lead as the year-to-date market performers. Warner Bros (WBD) added 54%, Shopify (SHOP) 42%, MercadoLibre (MELI)

Bitcoin price is up, but BTC mining stocks could remain vulnerable throughout 2023

[ad_1] Bitcoin mining stocks usually follow BTC’s price because it directly influences the company's earnings. These stocks were beaten down heavily in the last quarter of 2022, especially in the month of December. The downturn after FTX's collapse worsened with the bankruptcy filings of the largest U.S.-based Bitcoin mining company, Core Scientific.During this time, other mining stocks, like Marathon Digital Holdings (MARA) in the chart below, exhibited a weak correlation

Montenegro’s central bank teams up with Ripple on digital currency pilot project

[ad_1] Montenegrin Prime Minister Dritan Abazović has announced on Twitter that his country is pursuing a digital currency in conjunction with Ripple. Abazović met with Ripple CEO Brad Garlinghouse and vice president James Wallis at Davos.Wallis is Ripple's vice president for central bank engagements and CBDCs. Abazović apparently had something like a central bank digital currency (CBDC) in mind in his announcement, as he stated in the thread: “In cooperation

Should Bored Ape buyers be legally entitled to refunds?

[ad_1] Should people who purchase nonfungible tokens (NFT) be entitled to refunds if they decide they don’t like their digital pictures? Some Europeans are beginning to make that case under a 25-year-old law.Unhappy buyers have claimed that their right to a refund is protected by a 1997 European Union law that requires any person or business engaged in “distance selling” — that is, buying and selling a product that is

Digital asset investment products see highest inflows since July 2022: Report

[ad_1] On Jan. 30, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that digital asset investments experienced a surge in inflows last week, reaching $117 million, the highest since July 2022. CoinShares reported that the sector’s total assets under management rose to $28 billion, a 43% increase from its November 2022 lows. The improvement in investment product volumes was evident, with $1.3 billion traded during