By Shikha Singh
SEC Advances NYSE’s Filing To List Bitwise Bitcoin & Ethereum ETF.
U.S. regulators are seeking comments on NYSE Arca’s request to list the Bitwise Bitcoin and Ethereum ETF, offering exposure to BTC and ETH.
This follows filings from Bitwise and NYSE in November, with the SEC advancing the application.
The move is part of a growing trend toward crypto index funds, with increased competition from firms like Grayscale, Hashdex, and Franklin Templeton.
With President-elect Donald Trump’s crypto-friendly approach, expected changes in leadership at financial regulators, including SEC Chair Gary Gensler’s departure, could speed up the approval of more crypto funds and ETFs.
FTX Debtors Recover $14 mn in Political Donations.
FTX debtors have recovered over $14 million in political donations made by the exchange during its bankruptcy proceedings.
In a December 10 filing, they reported settling claims with political action committees (PACs) such as the House Majority PAC for $6 million and the Senate Majority PAC for $3 million, along with additional donations from state Democratic parties.
These actions are part of efforts to recover funds used by former CEO Sam Bankman-Fried (SBF) for political contributions.
Despite facing criminal charges, FTX dropped its campaign finance violations. Ryan Salame, Caroline Ellison, and Gary Wang, among other FTX executives, have received prison sentences or served their time.
US Supreme Court Bucks Nvidia’s Appeal To Dismiss Crypto Class Suit.
Nvidia is facing a class-action lawsuit alleging it misled investors about the volume of GPU sales to crypto miners after the U.S. Supreme Court dismissed the company’s appeal on December 11, 2024.
The dismissal reinstates a Ninth Circuit ruling that revived the 2018 lawsuit, which claims Nvidia hid over $1 billion in sales to crypto miners and downplayed their significance.
The lawsuit also ties a sharp drop in Nvidia’s share price in late 2018 to a collapse in crypto mining sales.
Nvidia maintains that the suit is based on false information.
In support of the investors, the SEC and DOJ have highlighted evidence, including statements from former executives and a Bank of Canada report.
In 2022, Nvidia settled with the SEC for $5.5 million over related disclosures.
Fire Brigades Association Becomes First Kenyan Labor Union to Hold BTC.
The Kenya National Fire Brigades Association (KENFIBA) has become the first labor union in Kenya, and possibly Africa, to adopt a Bitcoin reserve.
The nonprofit Proof of Workforce facilitates the fund, which aims to support the expansion of Kenya’s firefighting efforts.
The adoption of Bitcoin is expected to assist KENFIBA in emergency response, membership growth, and recruitment.
Although KENFIBA claims to be the first African union to hold Bitcoin, it’s possible that a Nigerian academic union did so first. The move highlights Africa’s increasing embrace of cryptocurrencies and technology-driven solutions.
U.S. Spot Bitcoin ETFs Cross 500,000 BTC in Cumulative Inflows.
The launch of U.S. spot Bitcoin ETFs has significantly reshaped the cryptocurrency market, with over 500,000 BTC in net inflows since January 11.
Major firms like Fidelity and BlackRock have led the charge, absorbing more than 2.5% of the total Bitcoin supply.
Spot Bitcoin ETFs have garnered $4.3 billion in inflows over the past 10 days, reflecting strong institutional interest.
In contrast, Grayscale’s GBTC fund has seen declines due to outflows and its conversion process. Bitcoin ETFs are now outpacing traditional assets like gold, signaling a shift toward digital assets.
With over 1.1 million BTC held in these ETFs, Bitcoin’s future as a regulated asset looks promising, potentially paving the way for further institutional adoption.
Argentina Partners With El Salvador on Digital Asset Regulation Issues.
Argentina’s government, under President Javier Milei, is collaborating with El Salvador’s digital asset regulator (CNAD) to improve cryptocurrency regulations in Argentina.
The partnership aims to enhance the oversight of virtual asset service providers (VASPs) and promote financial integrity and efficiency.
El Salvador, known for its leadership in crypto regulation and Bitcoin adoption, will share its expertise.
This collaboration follows previous discussions between the two countries and aligns with Argentina’s efforts to regulate the cryptocurrency sector, including launching a VASP registry for exchanges.
Additionally, Argentina has approved the introduction of foreign crypto exchange-traded funds (ETFs) on its stock markets.
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