SEC Has ‘No Grounds’ to Reject Bitcoin ETF Conversion, Grayscale Says
The SEC was last week ordered to review its prior rejection of the conversion of the Grayscale Bitcoin Trust (GBTC), though not necessarily to approve it.Source
Coinbase Creates New Crypto Lending Service Geared Toward Large Investors
Coinbase (COIN) raised $57 million for the platform as of Sept. 1, according to an SEC filing.Source
‘Ethereum Supreme Court’ Mooted by Blockchain Executive as Alternative to ‘Code Is Law’
A proposal from Matter Labs co-founder Alex Gluchowski would see a “hierarchical system of on-chain courts” arbitrate on-chain disputes.Source
Genesis to Shutter Crypto Trading Desk for U.S. Market
Genesis Global Trading will halt its crypto OTC desk later this month.Source
Bitcoin Plumbs 6-Month Low Near $25K and Higher Oil Prices Suggest Further Pressure
Saudi Arabia and Russia Monday morning agreed to extend oil production cuts, sending crude to its highest levels of 2023.Source
Connext Airdrop Marred by $38K Sybil Bot Attack
Connext Network, a protocol that interacts with native blockchain bridges to optimize security, is the subject of intense scrutiny after one wallet appears to have exploited its NEXT token airdrop.Source
Crypto Casino Stake Targeted in Reported $40M Exploit
The cryptocurrency gambling and sports betting website stake has been targeted by a private key exploit, with on-chain analyst Cyvers reporting that $16 million has been withdrawn on the Ethereum network.Source
Singapore’s New President, a Former Central Bank Chairman, Has Called Crypto ‘Slightly Crazy’
Tharman Shanmugaratnam, who has previously called crypto “purely speculative” and “slightly crazy,” was officially elected as Singapore’s president early Saturday morning.Source
Australia Senate Committee Rejects Crypto Bill From Opposition Senator Andrew Bragg
Bragg said the Labor government had put regulating crypto in the slow lane.Source
First Mover Americas: Bitcoin Hovers Below $26K; Stellar’s XLM Rallies
The latest price moves in bitcoin (BTC) and crypto markets in context for Sept 4, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.Source