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It's Frriidddaayyyy Folks! Bitcoin is trading down to $26,771.92. I will continue to update this throughout the day so check back later.
, Former Voyager CEO Steve Ehrlich faced complaints from the Commodity Futures Trading Commission and Federal Trade Commission from his time at defunct Voyager Digital.(5) Today, it appears many are anticipating the potential approval of a Spot Bitcoin ETF, but will it be yet another Lucy snatching the football away?
If the SEC doesn't appeal the Grayscale Bitcoin Spot ETF today, then it's likely all Spot Bitcoin ETFs would get approved. COINBASE Institutional's David Duong argues that the price is backed in and the expected deluge of money into the spot-based ETFs will likely happen overtime.(2) Grayscale Bitcoin Trust's ($GBTC) discount has seen a dramatic shift from a daunting 43% in mid-June to a more optimistic 16.5%. The Bitcoin network hashrate has reached an all-time high further pressuring miners which are already having a tough time. President Prince Filip of announces launch of Bitcoin business hub to foster innovation.
Ethereum's open interest might lead to enormous volatility surge. Hong Kong’s crypto index creator ditches $USDC to onboard $XRP.
Favorable court rulings for Grayscale and Ripple spotlight a shift towards crypto acceptance in traditional finance realms and legal and regulatory shifts, with a spotlight on Bitcoin ETF, signal an impending crypto market bull run, attracting investors. Despite global strides in crypto regulation, the US lags, potentially driving crypto firms and developers to other regions. Coinbase tells IRS it has 'serious concerns' about proposed rules and thinks proposed tax regulations from the IRS will impose “unprecedented, unchecked, and unlimited tracking on the daily lives of Americans.”(2)
CapHillCrypto Brief
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