Robert Kiyosaki expressed his stance on potentially investing more in Bitcoin if its price plummets to $200, as economist Harry Dent has forecasted. Cryptoquant data reveals that Bitcoin miners are selling off their holdings in anticipation of the network’s upcoming halving event, which is expected to impact their rewards. JPMorgan has speculated that the SEC […]
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After the sentencing of Sam Bankman-Fried to nearly 25 years in prison for his role in FTX’s financial mismanagement, attention shifts to his former associates. The cryptocurrency world eyes the upcoming Bitcoin halving, expected between April 18 to April 22, 2024. Blackrock’s Ishares Bitcoin Trust (IBIT) sees its holdings skyrocket past 252,011 BTC. Ethena announces […]
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El Salvador continues its daily bitcoin purchases, aiming to keep buying until the cryptocurrency becomes too expensive. The top 10 bitcoin mining rigs of 2024 show significant profit margins due to recent value increases. Blackrock, has submitted a form to the SEC for the initiation of a tokenized investment fund called “BUIDL.” “Rich Dad Poor […]
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Robert Kiyosaki has issued a stark warning about an impending financial disaster, which he believes will devastate baby boomers. A crypto analyst predicts bitcoin could exceed $330,000, defying historical growth patterns through a combination of pattern disruptions and the theory of diminishing returns. Venture capitalist Tim Draper forecasts that bitcoin will dramatically transform El Salvador […]
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A significant bitcoin “mega whale” moved 3,000 vintage bitcoins from 2010 as BTC peaked at $69,210. JPMorgan predicted a post-halving drop in bitcoin’s price to $42,000, citing current euphoria levels. Meanwhile, bitcoin cash experienced a 40% surge in anticipation of its halving event and a major 2024 upgrade. Additionally, rumors circulated about a Qatari billionaire’s […]
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The post Bitcoin 2023 year in review: Analysis of BTC’s key metrics appeared first on CryptoSlate.
Coinbase described the SEC’s actions in its appeal letter as arbitrary and capricious, an abuse of discretion, and contrary to law, in violation of the Administrative Procedure Act.
Cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN) is continuing its efforts to ensure the introduction of a clear regulatory framework for cryptocurrencies in the United States. Coinbase has filed an appeal, challenging the Securities and Exchange Commission’s (SEC) decision on its petition to introduce a unified rulebook for digital assets classified as securities in the country.
On December 15, the SEC rejected Coinbase’s request for virtual asset rules on the grounds that the petition “lacked text or the substance of any proposed rule.” According to the regulator, the textual substance is a crucial requirement for such petitions.
The financial watchdog further stated the current securities laws already apply to the crypto securities market. Therefore, there is no need to introduce separate rules to govern the emerging economy.
SEC chairman Gary Gensler disagreed with the Coinbase proposal, which claimed that the current laws are unworkable. He also said there is no evidence to support Coinbase’s claim that crypto investors and issuers should be exempted from existing securities laws.
Shortly after the SEC’s decision was made known to the public, Coinbase filed an appeal the same day, requesting the judicial review of the judgment. On Monday, December 18, the US Third District Court of Appeals instructed the SEC to submit a record of its decision by January 24, 2024 for review.
In the appeal letter, Coinbase detailed the lengthy process it took to ensure the SEC responded to its petition. On different occasions, the authorities had delayed decisions on the Coinbase petition regarding introducing a unified rulebook for cryptocurrencies. However, Coinbase pressed on, calling the agency to respond to its petition.
Coinbase described the SEC’s actions in its appeal letter as “arbitrary and capricious, an abuse of discretion, and contrary to law, in violation of the Administrative Procedure Act.” The company also said the refusal goes against the agency’s principle of fundamental fairness.
“The Commission’s refusal to engage in rulemaking, even while it continues a campaign of regulation by enforcement against Coinbase and others that exceeds its statutory authority, flouts the APA [Administrative Procedure Act] and fundamental principles of fairness it embodies,” Coinbase said.
Coinbase started its fight for crypto rules in the United States last year. The publicly traded company filed the petition for the rejected proposal in July 2022, asking the SEC to “propose and adopt rules to govern the regulation of securities that are offered and traded via digitally native methods, including potential rules to identify which digital assets are securities.”
The move follows the SEC’s decision to regulate the crypto industry through enforcement without providing a sufficient framework to determine the issuance and usage of digital assets in the US.
In June of this year, the SEC brought a civil lawsuit against the exchange, alleging violations of several securities laws, including selling products and services without proper authorization.
In response to the government’s crackdown on cryptocurrencies, Coinbase introduced Crypto435, a grassroots political campaign that advocated for pro-crypto policies in the United States.
The initiative is focused on expanding the crypto advocacy community and Coinbase said it will provide essential tools and resources for those involved in the campaign for effective communication across all 435 congressional districts in the country.
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The United States Court of Appeals has issued a mandate following a decision requiring Grayscale Investments’ application for a spot Bitcoin exchange-traded fund to be reviewed by the Securities and Exchange Commission.
In an Oct. 23 filing in the U.S. Court of Appeals for the District of Columbia Circuit, the “formal mandate” of the court took effect, paving the way for the SEC to review its decision on Grayscale’s spot Bitcoin (BTC) exchange-traded fund, or ETF. The mandate followed the court’s initial ruling on Aug. 29 and the SEC’s failure to present an appeal by Oct. 13.
Related: Bitcoin ETF to trigger massive demand from institutions, EY says
The Oct. 23 mandate reaffirmed the court’s Aug. 29 ruling, giving Grayscale a second chance at converting its Grayscale Bitcoin Trust into a listed BTC ETF. To date, the SEC has yet to approve a single spot crypto ETF for listing on U.S. exchanges but has given the green light to investment vehicles linked to Bitcoin and Ether (ETH) futures.
On Oct. 19, Grayscale submitted a registration statement to the SEC to list shares of its Bitcoin trust on the New York Stock Exchange Arca under the ticker symbol GBTC. The investment firm and other major companies — including BlackRock, ARK Investment, and Valkyrie — have spot crypto ETF applications pending with the SEC.
Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?
Laneta tequila ($89.99-$169.99, depending on expression)
Normally, when we talk about tequila, we talk about Mexico, where the agave-based spirit hails from. But Laneta is a tequila that also has roots in a very unexpected place — namely, Ukraine.
That’s because it was founded in part by Edward Geyman,…
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Question: What’s the best card for spending a ton of money on Amazon? I spend thousands of dollars every month on Amazon, and I’m not currently getting any rewards. But it’s where I spend the majority of my money and I feel like I’m missing an opportunity to earn rewards on all the money I spend there.
Answer: If you pay your bill in full and on time — and shop a lot at Amazon or Whole Foods — the Prime Visa could prove lucrative for you. That’s because the cash-back perks for those shoppers are pretty great. Here’s what the card offers:
Both Ted Rossman, senior industry analyst at CreditCards.com and Matt Schulz, credit card expert at LendingTree, say the Prime Visa is very worth it for Amazon loyalists. Indeed, Schulz says that while most retail credit cards are generally best avoided, he doesn’t feel that way about the co-branded Amazon card. “This Amazon card is one of the very few exceptions and there’s a $100 signup bonus that’s available immediately after you’re approved for the card,” says Schulz.
Have a credit card question? Email us at picks@marketwatch.com.
MarketWatch Picks managing editor Catey Hill has the Prime Visa — but just uses it for Amazon and Whole Foods purchases because of the high cash back at those spots. Other cards have higher cash-back offers for other types of items.
What might those Prime Visa rewards look like? If you spend $1,000 per month on Whole Foods, Amazon.com and/or Amazon Fresh, you’d earn $600 back over a year. If you spend $500 monthly, you’d earn $300 annually. And that doesn’t include rewards of 2% cash back that you will get on restaurants, gas stations, and drugstores that could also top $1000 a year.
There are, of course, catches: This card works best for frequent Amazon and Whole Foods shoppers, and those that pay their credit card bills in full and on time. You’ll have to pay high interest if you don’t.
And you will need to be an Amazon Prime member, which costs $139 a year, to fully reap the rewards. And Nick Ewen, director of content at The Points Guy, says this card works best if you’re already a Prime member. This story can help you figure out if an Amazon Prime membership is worth it for you.
If you’re not an Amazon Prime member or you don’t spend a significant amount of money through Amazon or Whole Foods, you might be better off with a card that offers points or cash back through a different retailer or with more generalized rewards. Anyone with less-than-good credit should also look for an alternative card as interest rates for those with good credit tend to be on the high side for this card.
Have a credit card question? Email us at picks@marketwatch.com.
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