Grayscale Secures Victory in Lawsuit Against SEC, Binance Implements Payment Method Changes, Shibarium Shows Growth After Relaunch
Summary:
Grayscale wins lawsuit against SEC, clearing way for Bitcoin ETF. Binance removes Banco de Venezuela as P2P payment method. Shibarium reaches new wallet and transaction milestones following bridge relaunch.
Grayscale Wins Lawsuit Against SEC, Clears Path for Bitcoin ETF
Crypto asset manager Grayscale has achieved a significant victory in its legal battle with the US Securities and Exchange Commission (SEC). The US Court of Appeals has ruled in favor of Grayscale, stating that the SEC was unjustified in rejecting the company's application to convert its GBTC fund into a Bitcoin exchange-traded fund (ETF). While this ruling doesn't guarantee success for Grayscale's Bitcoin ETF application, it could impact the SEC's decision-making process for other pending ETF applications, including those from BlackRock, Fidelity, and WisdomTree.
Binance Removes Banco de Venezuela as P2P Payment Method
In an effort to comply with international financial sanctions, Binance, the world's largest cryptocurrency exchange, has removed Banco de Venezuela, one of the largest banks in the country, as a payment method on its peer-to-peer (P2P) trading service. This action follows similar moves by Binance last week, where it excluded sanctioned Russian banks from its platform. Venezuelan users have reported that Banco de Venezuela is no longer available as a payment option, which is likely a response to allegations of the exchange's involvement in evading international financial sanctions.
Shibarium Reaches New Milestone After Bridge Relaunch
Shibarium, a layer-2 blockchain developed by the creators of Shiba Inu (SHIB), has achieved a new milestone in wallet and transaction numbers shortly after relaunching its bridge to the public. Within hours of the bridge relaunch, Shibarium recorded over 100,000 wallets and more than 420,000 transactions, with an average block time of 5 seconds. This success comes after Shibarium faced initial technical issues following its launch, resulting in a significant number of stuck funds on the bridge. However, the development team addressed these issues and scaled up their server infrastructure to accommodate increased demand.
Published At
8/29/2023 6:25:22 PM
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