#bitcoin

Grayscale Investments has warned the US Securities and Exchange Commission (SEC) that granting approval to certain spot Bitcoin ETF proposals ahead of others could create an "unfairly discriminatory and prejudicial first-mover advantage". The company's comments follow BlackRock's recent application to launch a spot Bitcoin ETF, which reignited hopes and triggered similar filings from other firms. Grayscale had previously attempted to convert its Bitcoin Trust (GBTC) to an ETF but was denied by the SEC. The firm now supports the simultaneous approval of all proposed spot Bitcoin ETFs to maintain a level playing field.

Craig Wright, who asserts he is Bitcoin's creator, has lost his libel case appeal against Peter McCormack. Wright had claimed McCormack damaged his reputation by calling him a fraud who didn't invent Bitcoin. Initially, the court found McCormack's comments defamatory but reduced damages to £1 due to Wright's conduct. The UK Court of Appeal upheld this decision, stating Wright failed to produce adequate evidence for his claims.

Crypto payments processor Alphapo has reportedly been robbed of at least $23 million in Ethereum, Tron, and Bitcoin, according to blockchain analyst ZachXBT. The stolen funds on Ethereum were exchanged for ether and then moved to the Avalanche and Bitcoin networks. The exact amount of stolen Bitcoin remains unknown. Alphapo's client, HypeDrop, has subsequently suspended withdrawals, noting issues with both withdrawals and deposits of BTC, ETH, and TRX. Despite the situation, HypeDrop assured users that their funds remain secure.

According to Coinbase CEO Brian Armstrong, the SEC requested the exchange to halt trading in all cryptocurrencies except bitcoin before filing a lawsuit against the platform in June. “We really didn’t have a choice at that point. Delisting every asset other than bitcoin, which, by the way, is not what the law says, would have essentially meant the end of the crypto industry in the US,” said Armstrong.

US presidential candidate Robert F. Kennedy Jr. disclosed that he invested in Bitcoin earlier this year, buying two BTC for each of his seven children. This move came after facing criticism for promoting the cryptocurrency without having any personal stake in it. Kennedy clarified that he made the investment right after attending a Bitcoin conference where he announced his decision to accept campaign donations in Bitcoin. “Right after that Bitcoin conference, I got a big check, and I said, okay, you know, I’m going to put my money where my mouth is.” During the conference, he denied having any personal investment in the cryptocurrency. However, he later decided to invest in Bitcoin to demonstrate his commitment to the technology and its potential.

The UK court has upheld Craig Wright's appeal, allowing him to maintain in legal proceedings that he is the originator of the Bitcoin white paper. Wright gained notoriety in 2016 when he professed to be Bitcoin's creator and subsequently sued Bitcoin Core's developers. While his claims have not been definitively proven, this court ruling enables Craig to continue his legal battles against companies, eliciting laughter across the cryptocurrency community with his antics.

Contrary to forecasts, the value of Salvadoran bonds rose by 62% after Fitch downgraded the country's credit rating in September 2022. Perhaps the 79% surge in BTC during the same period played a role in this unexpected turn of events. In 2021, El Salvador declared Bitcoin as legal tender and currently holds 2546 BTC. Despite skepticism from the IMF, the country also allocated $1 billion for the construction of a mining farm with a capacity of 241 MW.