HomeEthereumSEC focuses on Robinhood and Grayscale's Ethereum ETFs among other targets

SEC focuses on Robinhood and Grayscale’s Ethereum ETFs among other targets

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SEC Issues Wells Notice to Robinhood, Grayscale Withdraws Ether ETF Application, Coincheck Nears Nasdaq Listing, Block Raises $1.5 Billion

The crypto industry is once again under the spotlight as the United States Securities and Exchange Commission (SEC) issues a Wells notice to Robinhood, signaling potential enforcement action over alleged securities violations. This news comes as the SEC intensifies its scrutiny on the popular trading platform’s cryptocurrency listings and custodian operations.

Robinhood, like other crypto firms before it such as Coinbase, Kraken, and Uniswap, has vowed to fight any SEC action while expressing frustration over the lack of federal guidance in the industry. Meanwhile, Grayscale has withdrawn its application for an Ether futures exchange-traded fund (ETF) just weeks before the SEC was set to make a decision.

In other news, Japanese crypto exchange Coincheck is moving closer to becoming a Nasdaq-listed company through a merger with Thunder Bridge Capital. This milestone comes after a two-year journey and delays caused by market conditions and regulatory uncertainties.

Additionally, Jack Dorsey’s fintech firm Block has announced plans to raise $1.5 billion through a private offering of senior notes. The funds will be used for general corporate purposes, including capital expenditures and debt repayment.

Overall, the crypto industry continues to face regulatory challenges and uncertainties, but companies like Robinhood, Grayscale, Coincheck, and Block are navigating these obstacles as they strive for growth and success in the evolving digital asset landscape. Stay tuned for more updates on Crypto Biz, your weekly pulse on the business behind blockchain and crypto.

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