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Crypto This Thursday: BlackRock Plans to Launch BTC ETF, New York Banned CoinEx, and More
Fernanda T
Latest News
June 15 2023 09:59AM

BlackRock Plans to Launch Bitcoin ETF Amid Regulatory Investigations

BlackRock (NYSE:BLK) is close to applying for a bitcoin ETF, using offline storage solution Coinbase Custody and market data from the cryptocurrency exchange, according to CoinDesk. This decision comes amid regulatory investigations into the cryptocurrency industry in the US.

CoinEx banned from operating in New York and has funds seized

CoinEx, a Hong Kong-based cryptocurrency exchange, was banned from operating in New York and had more than $1.7 million in funds seized for allegedly failing to register as a securities and commodities broker. The company has agreed to repay more than $1.1 million to New York investors and pay fines of more than $600,000 to the state. Furthermore, CoinEx must implement measures to block access to New York users and is prohibited from creating new accounts for US customers. “ Today’s settlement should serve as a warning to cryptocurrency companies that there are heavy consequences for ignoring New York laws. My office will continue to crack down on cryptocurrency companies that blatantly flout the law, mislead investors, and put New Yorkers at risk ,” noted Attorney General Letitia James.

Coinbase strengthens its position with note buybacks and expanding self-custody partnership

Coinbase (NASDAQ:COIN) will redeem $64.5 million worth of 0.50% convertible senior notes at a 29% discount. The transaction, led by Chief Financial Officer Alesia Haas, is seen as opportunistic. Investors have concerns after SEC allegations for operating an unregistered exchange and selling unregistered securities. “ The buybacks are expected to close on or around June 20, 2023, subject to satisfaction of customary closing conditions. Following these closings, principal amount of approximately $1.373 billion of the Notes will remain outstanding”, wrote the exchange. In other news, Coinbase has announced a partnership with self-custodial bitcoin wallet app Bitkey, allowing customers to easily buy bitcoin and keep control of their private keys. The feature will be available to users in the US, Canada, UK, Brazil and Australia, with a public launch expected later this year. “ Partners play a key role in bringing self-custody to a wider group of people around the world, and we are incredibly proud to have partnered with leading companies like Coinbase to make self-custody safe and easy to use,” said the Bitkey business lead Lindsey Grossman in the statement.

Startup ResearchHub raises $5 million to reward scientific expertise

Startup ResearchHub, led by Coinbase CEO Brian Armstrong, has raised $5 million in Series A funding. The platform allows users to be rewarded with cryptocurrencies for contributing scientific knowledge. They seek to create a credible, evidence-based reward system to drive forward scientific research. “ Over time, we hope to iterate toward a ResearchCoin reward structure that funnels resources to the best and brightest minds at ResearchHub in a reliable, evidence-based way ”, said a ResearchHub blog post.

https://ih.advfn.com/market-news/article/1626/crypto-this-thursday-blackrock-plans-to-launch-btc-etf-new-york-banned-coinex-and-more