The United States Securities and Exchange Commission (SEC) has delayed its decision on whether to approve or disapprove of a spot Ethereum exchange-traded fund, or ETF, offering from asset manager Grayscale.

In a Dec. 5 notice, the SEC said it would designate a longer period on whether to approve or disapprove of a proposed rule change that would allow NYSE Arca to list and trade shares of the Grayscale Ethereum Trust. The commission’s announcement was one of the first following an appellate court ordering the SEC to review Grayscale’s Bitcoin (BTC) ETF offering in October.

“The Commission finds it appropriate to designate a longer period within which to take action on the proposed…

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Companies connected to the crypto and blockchain industry in the United States reportedly spent roughly $3 million more on lobbying in the first three quarters of 2023 than over the same period in 2022.

According to a Dec. 5 Reuters report citing data from U.S. government transparency group Open Secrets, crypto firms spent roughly $19 million on lobbying from January to September 2023, roughly 19% more than they did over the same period in 2022. Coinbase reportedly led the spending on lobbying at more than $2 million, followed by Crypto.com, Blockchain Association, and Binance.

Before its collapse in November 2022, FTX had been one of the biggest spenders in the crypto space on donations…

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Bit Brother Ltd BETS shares are trading lower by 55% to $0.031 Tuesday afternoon after the company announced a deal to sell $12.0 million worth of Class A ordinary shares, Class D warrants and Class E warrants to accredited investors through a registered direct offering.

The offering comprises 184,615,385 Class A ordinary shares, paired with respective Class D and Class E warrants, all sold at $0.065 per share and associated warrants.

The terms allow immediate exercise of Class D warrants for five years at $0.06 initially, subject to adjustments after 30 days, and Class E warrants for two years at $0.13 initially, both offering cashless exercise options.

See Also: Bitcoin Blasts Past…

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The Securities and Exchange Commission is asking Judge Jed Rakoff to rule on whether or not Terraform offered and sold unregistered securities. 

The SEC, in its case against Terraform Labs and former CEO Do Kwon, is making the request to prevent a jury from making a decision on the alleged securities.

The issue at hand, lawyers for the regulatory agency wrote, is a legal question that requires court determination, and is not “a factual question for the jury.”

“There is no dispute, for example, as to any of the facts that establish that Defendants’ crypto asset offerings involved an investment of money, in a common enterprise, with an expectation of profit to be derived from…

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Fresh off the close of its merger with US Bitcoin Corp., crypto mining firm Hut 8 is looking to boost its standing in the growing artificial intelligence (AI) infrastructure and computing markets. 

Hut 8 Chief Strategy Officer Mike Ho said on a Monday call with analysts that the firm is currently positioned to meet demand for high-density data center infrastructure. It is actively seeking additional opportunities to invest in “the immense growth potential of AI,” he added. 

The company’s stock price was up about 15% on the day, as of 12:30 pm ET Tuesday.

Hut 8’s ongoing focus on the evolving segments comes after Hut 8 acquired five Canada-based data centers in early 2022…

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Web3 gaming can take inspiration from esports economics — and improve on it with SocialFi.

If the swift rise and equally precipitous fall of token prices in Web3 play-to-earn games like Axie Infinity and Pegaxy proved anything, it’s that the traditional P2E token models do not work. Relying heavily on a continuous stream of new users for growth, even when P2E tokens stage large rallies, they inevitably drop — and struggle to recover. 

We can’t build the future of Web3 games on broken token models. But we can look to esports  and extend the success of its economics by blending it with a Web3 innovation — SocialFi. 

To create Web3 economies that will stand the test of time,…

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The New Jersey General Assembly may consider a bill that would decide when a digital asset or virtual currency is a security under state law. 

All virtual currencies issued and sold to institutional investors would be considered securities in the U.S. state of New Jersey under the bill introduced by Democratic Assemblyman Herb Conaway, Jr. on Nov. 29. According to the short text of the bill, the legislation would supplement the New Jersey Uniform Securities Law, which currently makes no mention of virtual, digital or cryptocurrency.

The bill pertains only to institutional investors, which are defined as “a company or organization that invests money on behalf of other people.” It also…

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