SEC Hits Pause on Invesco Galaxy Ether ETF!

The SEC can delay its decision on the Invesco Galaxy Spot Ether ETF for up to 240 days.

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Here's what we've got for you today:

  • SEC Delays Decision in Invesco and Galaxy Digital Spot Ether ETF

  • Judge Orders Ripple to Submit Financial Records in SEC Lawsuit

  • MicroStrategy Amplifies Bitcoin Holdings, Reflecting a Bullish Turn

  • Privacy Under Attack? Binance Delists Monero, Price Tanks

The SEC has been busy over the past day, delaying its decision about the Invesco and Galaxy ETH ETF and expanding its oversight of crypto.

  • The SEC plans to review a proposed rule change for the Cboe BZX Exchange to list the Invesco Galaxy Ethereum ETF, extending the decision period by 35 days.

  • The SEC can delay its decision on the Invesco Galaxy Spot Ether ETF for up to 240 days.

  • On Feb. 6, the SEC also adopted new rules to expand its regulatory oversight to include a much wider array of market participants.

This could help if XRP should be considered a security, a key issue at the heart of the lawsuit initiated by the SEC.

  • A federal judge has granted the SEC's request for Ripple to provide financial documents from 2022 to 2023 as well as specifics on "institutional sales" of XRP.

  • The legal conflict started in December of 2020, with the SEC alleging Ripple and its executives sold XRP tokens in unregistered securities offerings.

  • Judge Netburn, finding the information crucial for reaching a proper verdict, has set a compliance deadline of Feb. 12 for Ripple.

MicroStrategy has boosted its Bitcoin portfolio by acquiring an additional 850 BTC, bringing its total holdings to 190,000 BTC.

  • Throughout 2023, MicroStrategy aggressively expanded its Bitcoin holdings by purchasing 56,650 BTC at an average cost of $33,580, greatly contributing to the company's financial recovery.

  • From posting a significant loss of $249.7 million in the previous year, MicroStrategy reported a net income of $89.1 million in 2023, largely due to its Bitcoin investments. 

  • Michael Saylor credited the company's success in 2023 to the market's recognition of digital asset transformation, predicting 2024 could be a pivotal year for Bitcoin.

Binance has informed its users about its decision to remove Monero (XMR), a crypto known for its privacy-enhancing capabilities, from its platform.

  • Binance will delist all Monero (XMR) trading pairs, affecting pairs with Bitcoin (BTC), Ether (ETH), Tether (USDT), and Binance’s own BNB coin, with withdrawal support ending on May 20, 2024.

  • After the delisting deadline, there may be an option to convert the delisted XMR tokens into stablecoins, though this is not guaranteed.

  • Monero’s price experienced a near 25% drop after the delisting announcement, and despite a minor recovery, still remains way below its prior level.



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