• LedgerX CEO Paul Chou accuses CFTC Chairman Giancarlo of vendetta
    Regulation

    LedgerX accused ex-CFTC Chair J. Christopher Giancarlo of vendetta

    An unflattering blog post by LedgerX CEO Paul Chou led to a campaign of delays to the exchange’s license to offer physically settled Bitcoin futures, the firm alleged

    Cryptocurrency derivatives exchange LedgerX has accused former U.S. Commodity Futures Trading Commission Chairman J. Christopher Giancarlo of carrying out a revenge campaign. LedgerX wrote two letters of complaining about Giancarlo to the CFTC in July, Coindesk reported September 28. Giancarlo is known as “Crypto-Dad” because of his favorable view of the cryptocurrency industry. Coindesk obtained the letters, written on July 3 and July 11 from the CFTC via a Freedom of Information Act request. In them, LedgerX CEO Paul Chou claimed Giancarlo deliberately sabotaged and delayed its vital derivatives clearing organization (DCO) license application. “In January, the Chairman called one of our board members and told him that he was going…

  • Brooklyn_Nets_Spencer Dinwiddie (Tdorante10 via Wikimedia commons)
    Cryptocurrencies,  Innovators,  Regulation

    Spencer Dinwiddie plans rebound from NBA $13.5 million tokenization rejection

    The Brooklyn Nets star guard plans to meet with the league to argue that selling a cryptocurrency backed by his $34 million contract doesn’t violate NBA rules

    Despite league opposition, Brooklyn Nets star and cryptocurrency enthusiast Spencer Dinwiddie hasn’t given up on plans to tokenize his $34.4 million contract and sell it to investors on the Ethereum blockchain. On September 26, Dinwiddie announced plans to offer tokens worth up to $13.5 million of his three-year contract to investors, trading up-front cash for his per-game payments. His contract is guaranteed, so investors would not lose their money if he is injured. The next day, the NBA told Dinwiddie that the plan violated the league’s collective bargaining agreement with the National Basketball Players Association, which says a player cannot “assign or otherwise transfer” his salary, the New York Times…

  • SEC Chairman Jay Clayton discussing Bitcoin at CNBC's Delivering Alpha conference, September 19, 2019 (via YouTube.com / CNBC)
    Bitcoin,  United States

    SEC’s Jay Clayton casts more doubt on Bitcoin ETF

    Speaking at the Discovering Alpha conference in New York, the commission’s chairman said people who think an unmanipulated bitcoin price can be found are ‘sorely mistaken’

    Securities and Exchange Commission Chairman Jay Clayton again threw cold water on the idea of listing Bitcoin on an exchange traded fund (ETF) anytime soon.