Grayscale, Coinbase sit down with SEC over spot Ether ETF

Grayscale and Coinbase met with the SEC on March 6 to address concerns about the conversion of Grayscale’s Ethereum Trust into a spot ETF.

Crypto firms Grayscale and Coinbase recently met with United States Securities and Exchange Commission (SEC) officials to discuss a rule change for the launch of spot Ether exchange-traded funds (ETFs).

Grayscale is seeking to convert its Ethereum Trust — which tracks the market price of Ether into an ETF, similar to the conversion of its Bitcoin Trust to an ETF in January. The meeting, held on March 6, followed the end of the commenting period for the proposal and addressed concerns about possible market manipulation should the fund be approved.

According to a presentation shared by the SEC, Coinbase argued that the same reasoning that led to the approval of Bitcoin ETFs should be applied to Ether since the token has “mechanisms that significantly limit ETH’s susceptibility to fraud and manipulation.”

Another presentation point relates to Coinbase’s surveillance-sharing agreement with the Chicago Mercantile Exchange (CME). The mechanism was implemented for Bitcoin ETFs at the request of the SEC to improve trading monitoring.

Grayscale is also proposing a second ETF for Ether futures trading. The main difference between spot and futures markets is that spot market assets are traded immediately, whereas, in the futures market, contracts are made to buy or sell assets at a future date for a specific price.

#Etherrum #ETH✅ #Coinbase. #Graysacle

1,832,958 #SOL worth (~$182,951,373) withdrwn via #Coinbase.

🚨Grande nouvelle🚨

GRAYSCALE vient d'envoyer 10 000#Bitcoins(d'une valeur de plus de 425 millions de dollars) à #Coinbase.

PS : n´oublier pas un petit pourboir pour me soutenir et merci.

#BTC #Binance

via lookonhain on X

Celsius transferred 459,561 $ETH ($1.014B) out 9 hrs ago.

297,454 $ETH ($656.5M) → #CoinbasePrime
146,507 $ETH ($323.3M) → #PaxosTreasury
7,800 $ETH ($17.2M) → #FalconX
7,800 $ETH ($17.2M) → #Coinbase.

And #Celsius still has 62,468 #ETH ($139M) left.

🔵 "L'approbation par la SEC de 11 ETF bitcoin spot, dont huit sont en partenariat avec Coinbase, est un moment décisif pour l'expansion de la cryptoéconomie"

C'est ce que déclare @coinbase dans un article de son blog.

"Les ETF Bitcoin Spot introduits par les plus grands gestionnaires d'actifs du monde entier débloqueront des pools diversifiés de nouveaux investisseurs pour stimuler la croissance à long terme et l'innovation de produits."

#etf #BTC #Coinbase. #coinbaseetf #BTC-ETF.

(Lookonchain)

A miner wallet woke up after being dormant for nearly 14 years and deposited 50 $BTC ($3.67M) to #Coinbase.

The miner earned 50 #BTC from mining on April 25, 2010, and has been holding it to this day.

#Coinbase. is increasingly dominant in the U.S. since the ETF approvals.

Over the past 3 months, its #BTC market share has climbed from 47% to 60%.
#ETFbitcoin‬ #Writen2Earn #HalvingHorizons

🐳🐋 Whale Alert!

4,469 BTC, worth $191,886,661 USD 😲, has just been transferred from an unknown wallet to #Coinbase.

#ozuru

📢📢📢📢2,514 #BTC (108,739,890 USD) transferred from unknown wallet to #Coinbase. #BinanceSquareAnalysis

@dannydiekroeger post on X

The post discusses a clever tactic employed by #MagicEden in their transactions with #Coinbase. Instead of using their own address to receive tiny outputs for marketplace fees, they use their Coinbase account address. As a result, Coinbase is left with the responsibility of paying the fees to consolidate these small outputs, leading to significant losses due to inefficient handling. The post suggests simple fixes for Coinbase, such as excluding small outputs from normal withdrawal selections and implementing a separate process for consolidating small outputs. It highlights a transaction as an example, demonstrating how the issue of bad fee estimation is compounded by poor coin selection, ultimately costing Coinbase substantially more in fees. The post urges Coinbase to address these issues promptly to avoid further financial losses.

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An hour ago, 280.2K $HIGH (equivalent to $1.8M) was transferred from address 0x69b8a7a0e6C759065C9749ED002Cf059F0a6E70D to #Coinbase
An hour ago, 280.2K $HIGH (equivalent to $1.8M) was transferred from address 0x69b8a7a0e6C759065C9749ED002Cf059F0a6E70D to #Coinbase.

🚨 A sum of 234,684,280 Dogecoin (#DOGE) worth $43,614,248 has been transferred from an unknown wallet to #Coinbase.

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Then i lost almost all of it.

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#Cryptocurrency

#coin taka mala statystyka #Coinbase.

As I told everyone earlier #toshi is bullish and pumped to 22M. All risk taker and hodl congrats for 5-10x profit. Just a start many new things are coming soon. #Coinbase. Support and Face of the #base . Still have better entry position before it will touch 100M ..

10M = 0,000024
100 M = 0,00024
1B = 0,0024
2Bi = 0,005
4B = 0,01
40Bi = 0,10 💎

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💰 Promising Projects Backed By Major VCs

Discovering promising projects ahead of the curve can reap significant rewards like exclusive airdrops. Let's explore the projects where top-tier funds have invested, but tokens are yet to launch.

🔹 Paradigm

Blast ($20M funding): L2 solution with native yield
Friendtech: SocialFi Dapp
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Wildcard ($46M funding): Web3 MOBA game

🔹 a16z crypto

Soundxyz ($25M funding): Decentralized music platform
zkSync ($458M funding): Layer 2 with ZK Proof technologies
Aztec ($119.1M funding): a private ZK-rollup on Ethereum
Story Protocol ($54.3M funding): Protocol for managing intellectual property on the blockchain

🔹 Polychain Capital

Nocturne ($6M funding): Protocol enabling private, composable accounts on Ethereum
Polyhedra ($25M funding): Operator of a decentralized identity platform for web3 infrastructure
Manta Network ($28.8M funding): Privacy-preservation protocol for DeFi
nill; Foundation ($22M funding): Technologies for secure data storage in insecure environments

🔹 Binance Labs

AltLayer ($7.2M funding): Rollup-as-a-service solution for dApps scalability
Sleek ($5M funding): Blockchain-based social media platform
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Tabi ($11M funding): Multi-chain NFT publishing and trading platform

🔹 Coinbase Ventures

Wormhole ($225M funding): cross-chain messaging protocol
EigenLayer ($64.5M funding): Platform leveraging Ethereum security through restaking
Zerion ($22.5M funding): wallet managing investments across 14 chains
Bungee ($12.8M funding): Bridge aggregator built on SocketLL

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Farcaster ($30M funding): Decentralized protocol for social networks
LayerZero ($263M funding): Omnichain interoperability protocol for cross-chain applications
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Close to 200 Billion SHIB Sent to Leading Exchanges by Big Player as Price Soars

Almost 200 billion SHIB go to major exchanges
The aforementioned account @OnchainDataNerd spread the word that popular crypto trading firm Cumberland, which has been operating on the market since 2014 and in the past worked with Goldman Sachs and Nomura as a liquidity provider for their crypto trades, has transferred 144 billion Shiba Inu to the Coinbase exchange.

Several hours prior to that, the same company moved 50.36 billion to OKX. These chunks of SHIB are evaluated at $3.3 million and $1.17 million. Now, after these transfers, Cumberland’s wallet still holds an estimated 1.69 billion Shiba Inu worth roughly $45,000.

6 hours ago, #Cumberland just deposited 144B $SHIB (~$3.3M) to #Coinbase.

10 hours ago, they did deposited 50.36B $SHIB (~$1.17M) to #OKX.

Just now, they just have 1.69B $SHIB (~$45k).

Here’s what happened in #crypto today!

° #SEC asks for extension in #Coinbase case.

° Cardano founder to meet Argentina President Milei.

° #Solana Solana unveils new Seeker device: Not just a “memecoin phone”.

° The Securities and Exchange Commission is seeking a four-month extension to review documents in its case against #Coinbase.

$BTC $FIDA $TURBO

🚨 Update on Coinbase vs SEC Legal Battle 🚨
The first round of oral arguments has concluded, and the judge, Katherine Polk Failla, is impressed with Coinbase's grasp of the complex issues. The DeFi community's amicus brief, praised by the judge, argued that Coinbase's staking doesn't qualify as an unregistered security.
Judge Failla questioned the SEC's reliance on the Howey Test, citing crypto-supportive Senator Cynthia Lummis's perspective: "We've had 90 years where these securities laws have applied. But now we have something new." Coinbase contends the SEC's interpretation is too broad.
The company's lawyer argued, "I think there would have been a lot of surprise in the 1933/1934 Congress to find an investment contract didn’t have anything to do with a contract at all."
Awaiting the judge's decision, legal experts suggest a 2 to 6-week timeframe. Will this case follow Ripple Labs' prolonged legal battle with the SEC? Stay tuned for updates!
#CryptoNews. #Coinbase. #SecGov #trendingtoday