NY sues crypto corporations, 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 an announcement from the agency. The information comes weeks after Grayscale gained an SEC lawsuit for its spot Bitcoin ETF evaluation, 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 legal professional common has filed a lawsuit in opposition to cryptocurrency corporations Gemini, Genesis and Digital Forex Group (DCG) for allegedly defrauding greater than 23,000 traders by 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 Normal Letitia James discovered that Genesis financials have been dangerous. The lawsuit additionally expenses Genesis’ former CEO, Soichiro Moro, and its mum or dad companys CEO, Barry Silbert, with defrauding traders by trying to hide greater than $1.1 billion in losses. As well as, the court docket case seems to be to ban Gemini, Genesis and DCG from working within the monetary funding business in New York.

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