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The R Roundup: One Small Step For ETFs, One Giant Leap For Bitcoin - Issue #104

Issue #104 : Web 3 News Headlines Of The Week

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The R Roundup
September 03, 2023

The R Roundup: One Small Step For ETFs, One Giant Leap For Bitcoin - Issue #104

In a long awaited battle, Grayscale secured what many touted as a monumental victory against the SEC.

On Tuesday, news surfaced that a federal appeals court had ordered the SEC to abandon its rejection of the trust issuers bid to convert the Grayscale Bitcoin Trust into an ETF.

This concluded that the first spot Bitcoin ETF could be underway as the SEC must now review the rejection of Grayscales aim to convert the GBTC trust into an ETF.

Since then the SEC delayed a number of decisions on several applications indicating the pressure coming from legislators questioning the SECs treatment of crypto-related products differently.

A judge added the following when questioning the intentions of the SEC

❝

“Arbitrary & capricious”

Circuit Judge, Neomi Rao

Whilst this doesn’t conclude the on-going battle between the SEC & crypto related ETFs, this conclusion indicates a significant turning point.

Cryptoys Invites “Mickey & Friends” 📺

Adoption starts with the largest and most prominent brands in the world bridging over & Disney continues it’s expansion.

a16z backed Cryptoys announced a new collection with one of the worlds most famous cartoons Mickey Mouse. The collection is set to go live next month with the digital toys “Mickey and Friends” retailing at $39.99.

TVL On Base Hits ATH🖲️

For the past few weeks, Base hasn’t avoided the headlines & this week it hits an ATH in one metric.

TVL on Base Network hit an ATH of $393m only days after becoming fastest growing L2 to 100,000 users.

TVL is often a metric which people cite towards capital-confidence as it totals the liquidity locked on protocols built on that network.

dApps like Friend Tech & the launch of Aerodrome all contributed to the TVL hitting new heights.

Robinhood’s Haunted By SBFs Past👻

As the mystery of Sam Bankman-Fried’s billion dollar blunder unravels, Robinhood reclaims what was once theirs.

On Friday, Robinhood addressed the share repurchase agreement they had concluded with the United States Marshal Service for $605.7m. This agreement was to buy back stocks purchased from SBF.

When SBF filed for bankruptcy last year, the U.S. government seized custody of the shares & Robinhood has been attempting to buy back the stake since February once authorised by the company’s board.

A Week At RR📆 

Check out last weeks content published to stay up to date with the latest research trends & industry talking points👇

RRUPDATES📍: NFTs Under Attack By SEC🎨

In a significant development, SEC has filed charges against Impact Theory.

therroundup.beehiiv.com/p/rrupdates-nfts-attack-sec

RRUPDATES📍: Grayscale Takes W Over SEC👨‍⚖️

The Appeals Court rules that the SEC must review Grayscale's ETF bid.

therroundup.beehiiv.com/p/rrupdates-grayscale-takes-w-sec

Steven Bartlett, Dr Lisa Cameron MP and zkSync assemble at Zebu Live, London’s biggest Web3 event 🇬🇧

Londons Biggest Web 3 Event

therroundup.beehiiv.com/p/steven-bartlett-dr-lisa-cameron-mp-zksync-assemble-zebu-live-londons-biggest-web3-event

RRUPDATES📍: UK Implements FATF's Travel Rule: A New Era for Crypto Asset Firms

In a significant regulatory development, the United Kingdom has officially embraced the Financial Action Task Force's (FATF) Travel Rule, marking a pivotal moment for the crypto asset industry.

therroundup.beehiiv.com/p/rrupdates-uk-implements-fatfs-travel-rule-new-era-crypto-asset-firms

Addressing The Crypto & DeFi Landscape With The DeFi Investor🔎

Staying up to date with in-depth analysis of innovative DeFi projects & market updates has never been easier.

therroundup.beehiiv.com/p/addressing-crypto-defi-landscape-defi-investor

RR Files🗂️

Wondering what we are reading this week at RR?

Worry no further!

As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies.

This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.

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