Bitcoin News and Finance: What You Need to Know

Crypto asset manager Grayscale Investments is “constructively engaging” with the U.S. Securities and Exchange Commission (SEC) regarding its application to convert its flagship bitcoin trust into a spot bitcoin exchange-traded fund (ETF), says CEO Michael Sonnenshein. The executive believes that Grayscale has “a really nice advantage” over other spot bitcoin ETF applicants. Grayscale ‘Constructively Engaging’ With SEC Grayscale Investments CEO Michael Sonnenshein discussed his company’s plan to convert its flagship bitcoin trust (GBTC) into a spot bitcoin exchange-traded fund (ETF) in an interview with Bloomberg at DC Fintech Week on Wednesday. The SEC originally rejected the crypto asset manager’s spot bitcoin ETF application. However, a court recently ordered the securities regulator to reevaluate the company’s application. “A couple months ago, a decision did come out of the D.C. Circuit that did vacate the SEC’s denial of the GBTC uplisting to a spot Bitcoin ETF on the New Yo...

The Commodity Futures Trading Commission (CFTC) has revealed that it filed a record number of crypto enforcement actions this fiscal year. “In FY 2023, the CFTC brought 47 actions involving conduct related to digital asset commodities, representing more than 49% of all actions filed during that period,” the regulator shared. Record Number of Crypto Enforcement Actions The Commodity Futures Trading Commission (CFTC) released its enforcement results for Fiscal Year 2023 on Tuesday, showing “a record-setting number of digital asset cases.” The regulator explained that its Division of Enforcement (DOE) “filed 96 enforcement actions charging fraud, manipulation, and other significant violations in diverse markets, including digital assets and swaps markets, resulting in over $4.3 billion in penalties, restitution, and disgorgement.” Noting that his agency remains “laser-focused on stopping and deterring fraud and manipulation in the U.S.,” CFTC Chairman Rostin Behnam said: I am proud...

The Nigerian central bank has dismissed rumors suggesting that the previously demonetized naira banknotes are no longer legal tender. According to the bank, all banknotes it has ever issued remain legal tender and “should not be rejected by anyone.” No Shortage of Naira Banknotes Says the Central Bank The Central Bank of Nigeria (CBN) has dispelled ongoing rumors suggesting that the previously demonetized naira banknotes are no longer legal tender. The bank also rejected reports of cash shortages in major cities across Nigeria. All Banknotes Issued by the Central Bank of Nigeria (CBN) Remain Legal Tender. #NairaBankNotes pic.twitter.com/x8WotrLp54 — Central Bank of Nigeria (@cenbank) November 8, 2023 In a statement issued on Nov. 8 via X (formerly Twitter), the bank said the laws governing its operations clearly state that all banknotes issued by the CBN “should not be rejected by anyone.” It added that CBN branches across the country have been told to continue issuing diffe...

The U.S. dollar value of the cryptocurrency ether is predicted to end the year averaging $1,840 and $5,824 by the end of 2025, the latest Finder’s prediction report has said. Regulatory uncertainty and a challenging macroeconomic environment are likely to cause ether’s drop to “an average lowest price of $1,352.” ETH to Surpass $5,800 by the End of 2025 According to Finder’s October 2023 survey findings, the U.S. dollar value of ether or ETH is predicted to end this year at around $1,840. This average price, obtained from Finder’s panel of 31 crypto specialists, is $611 lower than the July prediction of $2,451. The surveyed panelists also foresee the crypto asset’s price hitting $5,824 by the end of 2025 and $14,411 in 2030. However, the figures are again lower than the July predictions of $5,845 by 2025 and $16,414 by 2030. At the time of writing (2:35 p.m. EST), the U.S. dollar value of ethereum (ETH) was $2,006 per unit. Many of the respondents cite the macroeconomic facto...