THE HASH: Court Rules SEC Must Review Rejection of Grayscale's Bitcoin ETF Bid, Bitcoin Jumps 5%

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CoinDesk

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4.7 • 698 Ratings

🗓️ 29 August 2023

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

The most valuable crypto stories for Tuesday, August 29, 2023. "The Hash" tackles today's hot topics, including a federal court ruling that the SEC must review its rejection of Grayscale Investments' attempt to convert the Grayscale Bitcoin Trust (GBTC) into an ETF. Bitcoin is surging on the news. Grayscale and CoinDesk are both owned by DCG. Separately, the SEC issued its first NFT-related enforcement action. And, some former FTX users are getting hit by a new phishing attack on their FTX-registered emails. See also: Bitcoin Jumps 5% on Grayscale Ruling, While Crypto-Related Stocks Soar More Than 10% DCG Reaches Crucial In-Principle Deal With Genesis Creditors, Recoveries Could Be Up to 90% FTX Customers Hit by 'Withdrawal' Phishing Mails After SIM Swap Attack This episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.” See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This is the hash podcast.
0:10.4	Stay informed with the latest on Bitcoin, Eith, the Metaverse, Web3, and more.
0:15.9	All on the hash for your ears.
0:19.2	You're listening to the Coin Desk Podcast Network.
0:27.0	We got some big news today.
0:29.9	It's also Taco Tuesday, and since it's going to be our last Taco Tuesday, you better
0:33.7	get ready for some actual tacos.
0:35.7	That's a major news.
0:36.6	But there is also real major news, and I'm starting us off today.
0:40.0	Here we go.
0:40.6	Let's go over to Grayscale.
0:41.6	An appeals court ruled just today that the SEC must review Grayscale's ETF bid
0:47.6	after they were previously rejected.
0:51.4	It's being seen as a victory in the prospects for getting a spot Bitcoin
0:55.9	ETF into the marketplace in the U.S. and the market is responding enthusiastically. Bitcoin
1:02.2	surge on the news, adding quite a bit of value. And now we're seeing some further chatter about
1:07.9	what this means for the prospects, again, of the long-awaited Bitcoin
1:12.3	Spot ETF. This note, Grayscale is a sister company of Coin Desk. They share ownership from
1:19.2	Digital Currency Group, but we're going to talk about it. Loves off, no holds barred anyway.
1:24.6	I'm so excited, you guys. This is the absolute best news ever. The fact that we continue to
1:30.3	see the SEC take these massive L's is music to my ears. I really, really feel that they have just
1:37.1	been so predatory in their actions and wanting to litigate instead of give some sort of guidelines,
	...

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