Judges hear oral arguments in Grayscale suit against SEC over BTC spot ETF rejection

[ad_1] A panel of judges heard oral arguments in the Grayscale Investments suit against the United States Securities and Trade Commission (SEC) on March 7. Grayscale is challenging the SEC order not to approve Grayscale’s application to create a Bitcoin (BTC) spot exchange-traded fund (ETF). The SEC issued its order on July 6, 2022.Former solicitor general Donald Verrilli Jr. represented Grayscale and SEC senior counsel Emily Parise spoke for the

Mt. Gox creditors have until March 10 to register and choose repayment method

[ad_1] Creditors from Mt. Gox have until the end of the week to register and select a repayment method as part of the plan by which they will be compensated for their losses with the defunct crypto exchange.In a March 7 announcement, Mt. Gox trustee Nobuaki Kobayashi reiterated a January notice reminding creditors who had not registered for repayment they had until March 10 to do so — two additional

Ethereum price action and derivatives data confirm that bears are currently in control

[ad_1] The price of Ether (ETH) declined 6% between March 2-3, followed by a tight range trading near $1,560. Still, analyzing a wider time frame provides no clear trend, as its chart can point to a descending channel or a slightly longer seven-week bullish pattern.Ether (ETH) price index in USD, 1-day. Source: TradingViewEther's recent lack of volatility can be partially explained by the upcoming Shanghai hard fork, an implementation aimed

CoinFLEX restructuring approved in Seychelles as rebranding reportedly continues

[ad_1] Crypto investment platform CoinFLEX has received approval for its restructuring plan from the courts in Seychelles, the company announced March 7 on its blog. The courts are expected to publish the order the same week, the blog post added. Trading in locked assets has been halted until 24 hours after the publication of the court order on the restructuring to allow time for asset holders to be informed. CoinFLEX halted

Key Bitcoin price metrics point to BTC downside below $22.5K

[ad_1] Bitcoin (BTC) faced a 1-hour $1,420 pullback on March 3 following Silvergate Bank's 57.7% stock crash which was due to significant losses and "suboptimal capitalization." The U.S. fintech-friendly bank was a key financial infrastructure provider for exchanges, institutional investors and mining companies and some investors are worried that its potential demise could have wide-ranging negative impacts on the crypto sector.The crypto-friendly bank discontinued its digital asset payment railway —

Web3 app Kresus raises $25M to bridge consumers to blockchain

[ad_1] Web3 app developer Kresus has closed a $25 million funding round to support the development of its so-called SuperApp, potentially opening the door to broader consumer adoption of digital assets. The Series A funding round was led by Liberty City Ventures, with additional participation from JetBlue Ventures, Craft Ventures, Franklin Templeton, Marc Benioff and Cameron and Tyler Winklevoss. Kresus said the capital would go toward product development and hiring. Kresus
Bitcoin News

Beating the competition in Web3: CryptoArena

[ad_1] Advertisment What if I told you there was a game where CZ could front-kick SBF? Where Elon Musk could go toe-to-toe with a giant Doge? Or where BitBoy could seek vengeance against Do Kwon?Have we piqued your interest?Well, there is, sort of… Of course, the characters’ names are changed to respect their public personas, but I’m not sure anyone is looking at CE, Micheal Pilot, or Don’t-Kwon and wondering

Why didn’t crypto walk the walk at ETHDenver?

[ad_1] Last week’s ETHDenver conference highlighted a disturbing trend in the crypto industry. While not unique to blockchain, the trend of not using the products our industry creates is something that the crypto community needs to grapple with. In more mature industries, this “dogfooding” is enforced. Microsoft employees must use Outlook, Word and so on. But in early industries such as blockchain, this dynamic is still being worked through.Why doesn’t

More than just an airdrop? Arbitrum builds a resilient DeFi fortress with unique primitives

[ad_1] The total value locked (TVL) in DeFi applications on the Arbitrum, a layer-2 Ethereum network blockchain, has doubled since the start of 2023. While investors’ hope of an ARBI token airdrop is a major factor attracting activity to the Ethereum layer-1 network, the ecosystem’s DeFi growth is also showing robust growth. Arbitrum has become a major hub for decentralized derivatives trading and offers high yields for crypto yield hunters, reminiscent

US lawmakers planning to reintroduce bill aimed at fixing crypto reporting requirements: Report

[ad_1] A group of United States lawmakers is reportedly planning to reintroduce legislation to change the reporting requirements for certain taxpayers involved in crypto transactions.According to a March 7 report from Punchbowl News, Representatives Patrick McHenry and Ritchie Torres plan to reintroduce the Keep Innovation in America Act. McHenry was one of the leading voices behind the previously proposed bill in an effort to change the definition of a broker