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SEC Targets Robinhood and Grayscale’s Ethereum ETFs in Crypto Biz

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SEC Targets Robinhood and Grayscale's Ethereum ETFs in Crypto Biz

The United States Securities and Exchange Commission (SEC) has issued a Wells notice to popular trading platform Robinhood. This notice indicates potential enforcement action against Robinhood for alleged securities violations related to its cryptocurrency listings and custodian operations. Robinhood, along with other crypto firms like Coinbase and Kraken, has vowed to fight any SEC action and has criticized the lack of federal guidance in the crypto industry.

Grayscale, a cryptocurrency asset manager, has withdrawn its application for an Ether (ETH) futures exchange-traded fund (ETF). The withdrawal comes just three weeks before the SEC was set to make a decision on the application. Grayscale had hoped to use the ETF as a way to pressure the SEC into approving its spot Ether ETF.

Japanese crypto exchange Coincheck and Thunder Bridge Capital are moving closer to becoming a Nasdaq-listed company. They have filed a registration statement with the SEC, marking a step forward in their merger and public offering plans. The merger, originally valued at $1.25 billion, was delayed due to market conditions and regulatory uncertainties. It is now expected to be completed in the second or third quarter of 2024.

Block, the fintech firm owned by Jack Dorsey, plans to raise at least $1.5 billion through a private offering of senior notes. The funds will be used for general corporate purposes and debt repayment. The notes will be offered in two series with different maturity dates. Investors eligible to participate in the offering include pension funds, banks, mutual funds, and high-net-worth individuals.

QANplatform has launched a quantum-resistant blockchain testnet that is compatible with the Ethereum Virtual Machine. This testnet enables the development of quantum-resistant smart contracts, making it the world’s first of its kind.

The crypto industry is facing increased scrutiny from regulatory authorities like the SEC. Companies like Robinhood and Grayscale are battling potential enforcement actions while calling for more regulatory clarity. Coincheck and Thunder Bridge are taking steps towards becoming publicly listed, and Block is raising funds through a private offering.

6 thoughts on “SEC Targets Robinhood and Grayscale’s Ethereum ETFs in Crypto Biz

  1. Grayscale’s spot Ether ETF pressure plan clearly didn’t work out. Maybe they should try a different approach.

  2. Oh great, more alleged securities violations in the crypto industry. 🙄 When will they learn?

  3. Quantum-resistant smart contracts are a game-changer in the blockchain industry. Congrats to QANplatform for leading the way!

  4. The SEC’s increased scrutiny doesn’t dampen the excitement surrounding the crypto industry. Let’s work towards a better future together!

  5. Robinhood and Grayscale are leading the fight for regulatory clarity. Let’s hope for a positive outcome!

  6. It’s concerning that the SEC is cracking down on the crypto industry without providing clear guidance. How are companies supposed to operate?

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