Grayscale has a 70% chance of winning its lawsuit against the SEC:
Bloomberg senior litigation analyst Elliott Stein believes that Grayscale has a 70% chance of winning its lawsuit against the SEC over the company’s bid to convert the Grayscale Bitcoin Trust (GBTC) to a Bitcoin #ETF.
Grayscale’s odds increased from 40% after the parties’ oral arguments reached completion because “all three judges on the panel appeared to side with Grayscale” based on their “lines of questioning,” Stein said.
🚀 #Bitcoin rallies as optimism grows over US debt resolution! 💼 President Biden and Speaker McCarthy have agreed to raise borrowing limits, easing fears of a default. BTC surged to $28,450, highest in 2 weeks. However, profit-taking pushed it down to $27,850 later. 📉 Short-term correction to $25,000 likely as BTC consolidates within a descending triangle since March. But overall bias remains bullish! 📈 #CryptoNews
📢 Tether sets the record straight on Chinese securities in reserves! 🇨🇳
Tether responds to outdated reports, emphasizing their commitment to transparency. The materials in question are over 2 years old, and their exposure to Chinese commercial papers was liquid and stable.