Last week, American investment management firm ARK Invest sold more GBTC shares, specifically 163,722, to earn $5.02 million.
This is not the only trouble Zhao could be facing in the days leading to his prison sentencing. A court filing by DOJ lawyers on Saturday revealed they might argue the Binance founder should be sentenced to up to 10 years in prison.
The SEC said its counsel was expected to report by Dec. 15, and if it failed to do so, the financial regulator would have to explore alternative services.
Malicious actors pretended to be officials from South Korea's National Pension Service, National Health Insurance, National Tax Service and National Police Agency to send phishing emails to recipients.
This was the second time the exchange was hacked after being rebranded as HTX in September.
Bankman-Fried Receives Special Treatment In Prison, Is Giving Crypto Advice And Trading Mackerel: Report
Bankman-Fried is seemingly adapting well to this new chapter of his life. The fallen crypto mogul is trading mackerel fish to pay for prison services, a report said.
In a presentation shown at the meeting, BlackRock, like ARK Invest, leaned toward a Bitcoin exchange-traded fund (ETF) that uses in-kind creations and redemptions, which goes against the reported recommendations of the commission to BTC ETF applicants.
Grayscale's revised spot Bitcoin ETF filing came after a meeting with the major Wall Street regulator on Monday.
Days before the historic settlement with the U.S. Department of Justice, Binance transferred $3.9 billion in Tether between its wallets, raising suspicions in the cryptocurrency industry.
While the former crypto kingpin's camp argued that the New York District court failed to consider that his activities were part of his freedom of speech, which is protected by the First Amendment, the appellate court upheld the decision, saying witness tampering "falls outside the zone of constitutional protection."
In the latest court filing, the SEC identified Cardano (ADA), Axie Infinity (AXS), Algorand (ALGO), Cosmos (ATOM), Chiliz' CHZ, COTI, Dash (DASH), FIL, FLOW, ICP, Decentraland's MANA, Polygon's MATIC, NEAR, OMG, Sandbox's SAND and Solana (SOL) as securities
To support their claims, the plaintiffs cited the Apple App Store Guidelines, where one of the rules stated that apps can engage in crypto transactions only via approved exchanges and in regions that have allowed the app licenses and permissions.
Binance and Zhao were presented with a settlement agreement by the DOJ as part of a move to not push for a trial and allow the exchange to continue with its operations instead of succumbing to a potential collapse.
CZ has been at the center of the storm over the past years because of investigations conducted by different financial and regulatory authorities not only in the U.S. but also in other parts of the world.
Zhao also announced the new CEO of Binance, whom he described as a "highly qualified leader" with decades of financial and regulatory experience.
Powell, who stepped down from his post as the CEO of the exchange this year, called the SEC "masochists" and labeled its latest enforcement action "another assault."
The settlement announcement could happen by the end of this month, indicating that both parties are currently engaged in ongoing communication.
Kraken denied the allegations and said it would "vigorously" defend its position while informing its customers that the lawsuit has no impact on its offering.
ETF analysts believe that the latest update on spot Bitcoin ETF prospectus is a positive move that means the firm and the SEC are actively communicating.
While rumors of an imminent SEC approval on the spot Bitcoin ETF filings spread like wildfire online and triggered bullish sentiment, particularly on BTC, it looks like the financial regulator is not yet ready to allow a crypto vehicle to be available this year.
On top of his appeal's rejection, authorities in South Korea and the U.S. also have warrants and charges filed against him in connection with Terra's implosion.
Bitcoin surged to an 18-month high last week when it traded above the $37,000 price level as industry analysts revealed that the commission has an eight-day window to approve all spot BTC ETF applications.
Unlike BlackRock's spot ETH ETF filing, Fidelity's application did not trigger a massive surge in the price of Ether since the crypto asset was on a downtrend when the news broke.
Aside from debunking one of the "many lies" of Bankman-Fried, Harrison also noted that there were several "sound and promising businesses" being built prior to FTX's bankruptcy but "Sam destroyed it all."
Gensler Delaying Spot BTC ETF Decision Due To Interest In Treasury Secretary Position: ARK Invest's Wood
During an interview, the ARK Invest founder said, "There's speculation that he's interested in the Treasury Secretary position at some point. What does the Treasury Secretary do? Very focused on the dollar."
The crypto market was surprised earlier this week when a regulatory filing surfaced online showing that BlackRockis pursuing an XRP exchange-traded fund (ETF).
It is considered the largest amount of liquidated longs in just 24 hours since Aug. 17, when Bitcoin nosedived from the $28,000 threshold to around $25,000 in just a matter of minutes.
A crypto analyst believes that the recent dip in BTC's price creates an entry point for altcoins.
BlackRock said stablecoins' volatility has "apparently impacted" the value of Bitcoin and given that it is a "relatively new phenomenon," it is "impossible to know all of the risks" they could pose to players in the Bitcoin market.
Currently, the market sentiment is "cautiously optimistic" but industry watchers think that SEC's non-decision on spot Bitcoin ETF could stir market boredom.
Following the recent transfers, the crypto business now only holds 3,408 SOL worth approximately $179,000 in Cold Storage 2.
Robinhood's shares have nosedived from their peak levels by 86%, despite its breakout during the pandemic as the financial tech app.
XRP immediately erased the massive gains it accumulated after it was proven that the filing was false.
The crypto market, particularly Bitcoin, is poised for a bull run in the coming weeks or months, with spot Bitcoin ETF applications and the Bitcoin Halving event on the table.