The DC Circuit US Court of Appeals observed that SEC failed to recognize the "obvious financial and mathematical relationship between the spot and futures markets while handing a win to Grayscale. A spot ETF in the US is still months away (appeal, elections, who knows what); this was enough to pump the digital asset markets for the day. Expect the news and the price to fade away. Remember that in the long term, this allows holders to redeem GBTC, which might add to selling pressure (2% is a lot of commission to have a spot product). At the moment, both GBTC and BTC are enjoying the limelight.
The EOS network, which increased in popularity with the Upland release earlier, gained JVCEA approval to be traded against Yen in Japanese exchanges. The token is up 9% on the news. Hong Kong bank SEBA also gained approval to offer Bitcoin & crypto services. Binance is mulling exiting Russia, and it also shuts off the lights on Binance_Connect.
Digital assets ETP saw an outflow of $168 million last week, giving up part of the inflows from mid-year. After the first QTR uptick in exchange-traded volumes, we are back at yearly lows. Mt.Gox (2014 vintage) repayment registration is now closed. DCG and Genesis creditors are making progress on their repayment plans, with up to 90% recovery. Wintermute request for the Yearn loan was again rejected. On the developer front, the Ethereum Foundation introduced the Ethereum Execution Layer Specification (EELS) in Python. DyDx DAO is voting on v4 and migration to the native chain.
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