The filing shows how desperate United States financial firms are to launch a Bitcoin ETF despite the SEC’s longstanding opposition, which is based on market volatility, alleged manipulation, and the purported lack of liquidity. A number of straight Bitcoin ETF proposals are pending before the SEC, including projects by Valkyrie, Bitwise, VanEck, and even Goldman Sachs. Appetites have been whetted by the success of Canada’s Purpose Bitcoin ETF, which attracted more than a half billion dollars in its first few days.
Coinbit execs charged with market manipulation
The South Korean crypto exchange’s chairman was also charged with forgery of records and fraud
As Modern Consensus reported in late August, Coinbit was confiscated by the authorities over alleged fraud and faking over 99% of its trading volume through wash trading. Police believe the manipulation occurred between August 2019 and May of this year, with a ghost account used to inflate the transaction volume, the report said.
Binance buys CoinMarketCap, raising skepticism and doubts
From an eyewatering reported price tag of $400 million to concerns about whether the crypto ratings site can maintain its neutrality, Changpeng ‘CZ’ Zhao’s latest purchase is raising eyebrows
Binance CEO Changpeng "CZ" Zhao reportedly spent as much as $400 million on CoinMarketCap. If true, that’s a princely—if not laughable—sum, especially during a market crash of such historic proportions that investments and acquisitions in nearly every industry have dried up.
No, China’s President Xi Jinping didn’t cause a Bitcoin rally
Pundits and maximalists are just trying to see what they want to see
Like 1960s campus radicals, Bitcoin maximalists are enthusiastically praising the wisdom of a leader of Communist China. That’s because President Xi Jinping called for his country to “take the leading position in the emerging field of blockchain.”