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VOICE ARCHIVE

Collins Belton

@collins_belton
45 posts
2024-01-11
With the Bitcoin ETF news now official, I think it's important to recognize how critical it was for Grayscale to be willing to go to the mat and engage our judicial process for us to get here. @GaryGensler essentially concedes as much in his statement: https://www.sec.gov/... [image]
2024-01-11 View on X
Reuters

The US SEC approves spot bitcoin ETFs from BlackRock, Grayscale, ARK 21Shares, Bitwise, WisdomTree, Fidelity, VanEck, Invesco, Valkyrie, Hashdex, and Franklin

The U.S. Securities and Exchange Commission has approved 11 spot bitcoin exchange-traded funds, including those of Grayscale …

2023-12-12
Difficult to see how this doesn't portend something ominous for Apple if even the Play Store is potentially on the chopping block. That said, I've been saying antitrust is key to resolving so many issues arising out of tech, and I'm cautiously optimistic this is a step forward.
2023-12-12 View on X
The Verge

The jury in Epic v. Google finds that Google has monopoly power in the Android app distribution and in-app billing services markets; Google plans to appeal

Three years after Fortnite maker Epic Games sued Apple and Google for allegedly running illegal app store monopolies, Epic has a win.

Difficult to see how this doesn't portend something ominous for Apple if even the Play Store is potentially on the chopping block. That said, I've been saying antitrust is key to resolving so many issues arising out of tech, and I'm cautiously optimistic this is a step forward.
2023-12-12 View on X
Bloomberg

Google's legal defeat to Epic threatens to roil an app store duopoly with Apple that generates nearly $200B/year and accelerate the weakening of app store rules

- Jury decision poised to accelerate crumbling of business model  — Case takes aim at app store commissions of up to 30%

2023-08-29
Really good dissent in today's NFT actions. I tend to agree with @HesterPeirce that this was legitimately a case of bad facts warranting some scrutiny, but that the fact that they already conducted a rescission offer + the SEC's lack of clarity makes this have limited value
2023-08-29 View on X
Fortune

In a first, the SEC charges Impact Theory with offering unregistered securities by selling NFTs; the LA-based entertainment company agreed to pay a $6.1M fine

Gary Gensler, chair of the Securities and Exchange Commission  —  In an enforcement action announced on Monday …

2023-06-17
Interesting take here and worth consideration. Reminder that I told y'all we're entering the big leagues of politicking, lobbying and dealing w folks more experienced in using subtle levers of power. Worth following folks with knowledge of inside baseball next 1-2 years imo. https://twitter.com/...
2023-06-17 View on X
Reuters

BlackRock files a US SEC application to register a spot bitcoin ETF, using Coinbase Custody as its custodian; the SEC has rejected all bitcoin spot ETFs to date

Analyst Calls It a ‘Real Deal’ Spot Bitcoin ETF Filing U.S. Securities and Exchange Commission : iShares Bitcoin Trust The Daily Hodl : Billionaire Mike Novogratz Says BlackRock Fi...

2023-06-15
LOL @MattWalshInBos it gets better! I checked the broker dealer site only to see this and had to laugh out loud remembering that this is the same iced tea company that “pivoted” to blockchain in the 2017 bull run: https://www.cnbc.com/... [image]
2023-06-15 View on X
@mattwalshinbos

[Thread] After the SEC approved Prometheum's SPBD for digital assets, a look at CEO Aaron Kaplan's bizarre Congressional testimony and issues with the SPBD

This Prometheum storyline has got to be the strangest thing I have seen in awhile in this industry. Has anyone actually looked into this? Beyond bizarre...

2023-06-13
Not sure if these are the entirety of the Hinman documents coming today but if so, I don't think these are fatal for it's $XRP case. If anything, it seems they didn't want these out bc it will make it functionally VERY difficult to argue ETH specifically is a security. https://twitter.com/...
2023-06-13 View on X
The Block

SDNY releases documents in which an ex-SEC director suggested ether and bitcoin were not securities in 2018, which crypto advocates say undermines the SEC

- Certain documents related to former SEC director William Hinman have been released in the SEC's lawsuit against Ripple Labs.

2023-06-06
In short though, the SEC is alleging that Binance, like Trex, Beaxy, Coinbase, and every other crypto trading platform is essentially operating an unregistered exchange, but also provides clearing services and acts as a BD for its customers, and hasn't registered as any of those.
2023-06-06 View on X
Bloomberg

The SEC sues Coinbase, alleging the exchange operated as an unregistered broker since at least 2019 and broke the rules by offering “staking”; COIN drops 15%+

The Securities and Exchange Commission sued Coinbase Global Inc. in federal court in New York on Tuesday, alleging the crypto firm for years broke its rules.

In short though, the SEC is alleging that Binance, like Trex, Beaxy, Coinbase, and every other crypto trading platform is essentially operating an unregistered exchange, but also provides clearing services and acts as a BD for its customers, and hasn't registered as any of those.
2023-06-06 View on X
New York Times

The SEC sues Binance and CEO Changpeng Zhao, accusing the company of mishandling billions in customer funds, lying to regulators and investors, and more

Can Pence stand with — and apart — from Trump? Tyler Pearson / DL News : Crypto traders lose $320m in Binance-driven plunge, judge allows bankrupt Genesis mediation extension Chris...

OK, a quickie. TL;DR. SEC alleges: - Binance/CZ fraudulently repped independence of Binance US and intl - BCZ operating unregistered exchange/BD/clearing agency - $SOL, $ADA, $MATIC, $ATOM, $BNB, $BUSD (!) + more + staking programs are securities - Requests asset freeze (!) https://twitter.com/...
2023-06-06 View on X
Bloomberg

The SEC sues Coinbase, alleging the exchange operated as an unregistered broker since at least 2019 and broke the rules by offering “staking”; COIN drops 15%+

The Securities and Exchange Commission sued Coinbase Global Inc. in federal court in New York on Tuesday, alleging the crypto firm for years broke its rules.

OK, a quickie. TL;DR. SEC alleges: - Binance/CZ fraudulently repped independence of Binance US and intl - BCZ operating unregistered exchange/BD/clearing agency - $SOL, $ADA, $MATIC, $ATOM, $BNB, $BUSD (!) + more + staking programs are securities - Requests asset freeze (!) https://twitter.com/...
2023-06-06 View on X
New York Times

The SEC sues Binance and CEO Changpeng Zhao, accusing the company of mishandling billions in customer funds, lying to regulators and investors, and more

Can Pence stand with — and apart — from Trump? Tyler Pearson / DL News : Crypto traders lose $320m in Binance-driven plunge, judge allows bankrupt Genesis mediation extension Chris...

2023-04-26
Exactly the type of thing I've long been wanting to see. Fighting some court of public opinion battle can be important, but ultimately legislation and judicial interpretation dictates things, not Twitter clout or “vibes” from non-legal institutions, persons or processes. https://twitter.com/...
2023-04-26 View on X
Decrypt

Coinbase asks a US federal court to compel the SEC to respond to a petition the company filed in July 2022 asking 50 questions to help clarify crypto regulation

instead of simply swooping in w/ vague and spotty enforcement actions, which has chilling and hostile effect on the space. When you can't get a clear answer on a narrow question, f...

2023-04-25
Exactly the type of thing I've long been wanting to see. Fighting some court of public opinion battle can be important, but ultimately legislation and judicial interpretation dictates things, not Twitter clout or “vibes” from non-legal institutions, persons or processes. https://twitter.com/...
2023-04-25 View on X
Decrypt

Coinbase asks a US federal court to force the SEC to respond to a petition Coinbase filed in July 2022, demanding clearer crypto regulations

The cryptocurrency exchange filed the petition along with a long list of questions last July. … Coinbase Chief Legal Officer Paul Grewal wrote …

2023-03-27
Real news here seems to be FDIC anticipating a $20B loss after selling off the remaining assets which is a lot higher than expected. Signature was only $2B & they were proportionally much more exposed to flighty crypto deposits. What happened here? Explains delay in sale though https://twitter.com/...
2023-03-27 View on X
Bloomberg

First Citizens agrees to buy the commercial banking business of Silicon Valley Bank from the FDIC including all deposits and loans

First Citizens BancShares Inc. agreed to buy Silicon Valley Bank which was seized by regulators following a run on the lender.

2023-03-24
This is a perfect ex: - CB has 30+ meetings with SEC - Spends millions drafting a registration proposal despite that literally being the SEC's job - Gets ghosted by SEC for 9+ mo - Promised meeting for clarity with SEC cancelled on 1 day notice - CB sued for being a bad actor??? https://twitter.com/...
2023-03-24 View on X
CNBC

Filing: Coinbase received an SEC notice warning the exchange of potential US securities law violations that could lead to enforcement actions; COIN drops 10%+

2023-03-23
This is a perfect ex: - CB has 30+ meetings with SEC - Spends millions drafting a registration proposal despite that literally being the SEC's job - Gets ghosted by SEC for 9+ mo - Promised meeting for clarity with SEC cancelled on 1 day notice - CB sued for being a bad actor??? https://twitter.com/...
2023-03-23 View on X
CNBC

Coinbase says it received an SEC notice warning the exchange of potential US securities law violations that could lead to enforcement actions; COIN drops 10%+

- The SEC issued crypto exchange Coinbase a Wells notice, warning the exchange that it identified potential violations of U.S. securities law.

2023-03-21
NY Community Bancorp taking over Signature and *will not* be servicing any depositors related to its “digital banking business.” FDIC will be directly returning $4B+ of deposits related to “digital banking” to the depositors. Looks like that's settled. https://twitter.com/...
2023-03-21 View on X
Reuters

The FDIC plans to sell all of Signature Bank's 40 branches to Flagstar Bank, as well as some Signature loans and deposits not in its digital banking business

Bloomberg reports:  —  “Signature Bank's crypto-related deposits will be returned to customers directly … Michael Farrell : I am pleased to announce that Signature Bridge Bank, N.A...

2023-03-20
NY Community Bancorp taking over Signature and *will not* be servicing any depositors related to its “digital banking business.” FDIC will be directly returning $4B+ of deposits related to “digital banking” to the depositors. Looks like that's settled. https://twitter.com/...
2023-03-20 View on X
Reuters

The FDIC plans to sell Signature Bank's deposits to Flagstar Bank, excluding those in its digital banking business, some loans, and Signature's 40 branches

A subsidiary of New York Community Bancorp (NYCB.N) has entered into an agreement with U.S. regulators to purchase deposits and loans …

2023-03-10
TL;DR - NYAG claiming eth is a security because of ICO, small number of developers driving most core dev, and proof of stake altered the incentive and profit expectations of holders. Ultimate boss battle time is approaching. https://twitter.com/...
2023-03-10 View on X
CoinDesk

New York's AG sues KuCoin, alleging the Seychelles-based crypto exchange offers tokens, such as ETH, that meet the definition of a security, without registering

A press release said the lawsuit was part of ongoing “efforts to crack down on unregistered cryptocurrency platforms.”

2023-02-18
Getting into the weeds now but this may have very far reaching implications for many projects. Despite Do's obvious fraud and deep involvement that might distinguish some of the Luna eco, much of the behavior alleged to create the securities law issues are endemic in the industry
2023-02-18 View on X
Bloomberg

The SEC sues Terraform Labs and Do Kwon, accusing them of selling unregistered securities and perpetrating a fraudulent scheme that lost $40B+ in market value

Takeaways from SEC complaint Cosmos Ecosystem Chat Newsletter : SEC Charges Do Kwon, Mars on Crescent, Turkey Earthquake Aid Proposal - CEC Issue #25 The Block : U.S. investigation...