NY sues crypto companies, FTX’s Nishad faces 75 years in jail, and Grayscale’s new BTC submitting: Hodler’s Digest, Oct. 15-21

Main cryptocurrency funding agency Grayscale Investments has filed a brand new software with the U.S. Securities and Trade Fee for a brand new spot exchange-traded fund (ETF). The brand new submitting aligns with Grayscales ongoing effort to transform its Grayscale Bitcoin Belief right into a spot Bitcoin ETF, in line with a press release from the agency. The information comes weeks after Grayscale gained an SEC lawsuit for its spot Bitcoin ETF overview, with a court docket of appeals ordering the SEC to elucidate why it rejected Grayscales software in June 2023. The corporate additionally filed with the SEC to listing an Ether futures ETF in September.

New Yorks lawyer normal has filed a lawsuit in opposition to cryptocurrency companies Gemini, Genesis and Digital Foreign money Group (DCG) for allegedly defrauding greater than 23,000 traders by way of the Gemini Earn funding program. The swimsuit claims that Gemini assured traders that this system was a low-risk funding, whereas investigations carried out by the workplace of New York State Legal professional Basic Letitia James discovered that Genesis financials had been dangerous. The lawsuit additionally fees Genesis’ former CEO, Soichiro Moro, and its dad or mum companys CEO, Barry Silbert, with defrauding traders by making an attempt to hide greater than $1.1 billion in losses. As well as, the court docket case appears to be like to ban Gemini, Genesis and DCG from working within the monetary funding trade in New York.

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