9/29/23: SEC Delays ETF Decisions Again ⏳🪙🕹️

Author

Valko
September 29, 2023

Today’s Top News ⌐◪-◪

  • ⏳ SEC delays Blackrock, Valkyrie, and Bitwise ETF decisions

  • 🪙 Circle enters Binance case, arguing stablecoins are not securities

  • 🕹️ Epic Games cuts 16% of staff due to unrealistic metaverse plans

SEC Delays Decision on Four Spot Bitcoin ETF Filings Ahead of Government Shutdown

The SEC's latest move is the second round of delays on the various spot Bitcoin ETF applications filed this year.

⌐◪-◪ → SEC delaying ETF decisions is reminiscent of China’s repeated attepts to ban bitcoin, you can’t stop the innevitable. To be honest, it feels like they’re conveniently delaying things going into the government shutdown so that they can ghost us for a solid month, then delay some more when governement resumes.

Stablecoin issuer Circle weighs in on SEC case against Binance

Circle, the company behind the stablecoin USDC, today waded into the U.S. Securities and Exchange Commission’s case against Binance.

⌐◪-◪ → In a filing yesterday, Circle stepped in on the Binance case to cover their own back, asserting that stablecoins are not securities. I’m all for defending crypto against unecesarry regulations, but this one seems pretty obvious to me. They’re can’t be a reasonable expectation of profits when they’re literally called “stablecoins”.

Fortnite Developer Epic Games Lays Off 16% of Staff Following Metaverse-Inspired Transition

The game's growth is now primarily driven by creator content, meaning lower revenue for Epic as the revenue is more distributed.

⌐◪-◪ → Epic Games isn’t the only company spending exessivley on the metaverse, and their pullback will cause other companies to question their own efforts. For the full picture, read the CEO’s official email to employees on the decision. Meanwhile, Zuckerberg’s metaverse is finally coming to life as shown in his recent Lex Fridman interview.

Peripheral Vision ⌐◪-◪

⛓️ Crypto & DeFi

  • Arbitrum DAO voting on $41M developer fund for its ecosystem

  • Jack Dorsey block survey finds BTC optimism in developing countries

  • Coindesk journalists win major award for exposing SBF crypto empire

  • GMX grants $1M bug bounty to Collider’s research arm

🏛️ Legal & Regulatory

  • SEC acknowledges spot BTC ETF application by Franklin Templeton

  • Congressman introduces bill to track off-chain crypto transactions

  • Valkyrie gets approval to add ETH futures to existing BTC futures ETF

🏦 Wallstreet

  • VanEck prepares to launch Ethereum futures ETF on CBOE

  • Fireblocks, backed by Sequoia, acquired by BlockFold

  • Ripple scraps plans to acquire Fortress Trust according to CEO

  • A16z Crypto leads $16.8M seed round in IYK for big brand rewards

🌎 Rest of the World

🖼️ NFTs & Metaverse

  • PayPal files new patent for NFT marketplace

  • Exorcist film by Universal Pictures partners with Aptos Labs on NFTs

  • Bugatti, luxury car maker, launches Bitcoin ordinals collection

  • Paris Hilton launching MareBears NFT collection with Charli Cohen

  • Gary Vaynerchuck announces Veecon 2024 in LA from August 9-11

  • Musée d’Orsay partners with Tezos to bring NFTs mainstream

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