BlackRock’s iShares Files for Spot Bitcoin ETF [ Crypto Espresso 6.16.23 ]

TGIF that stands for tall green Indigenous frogs my producer is telling Me that it also apparently stands for Thank God It's Friday huh learn Something new every day I'm your host Andrew and this is crypto espresso your Teeny tiny daily shot of caffeinated Crypto headlines and we're action Rolling into the news first up the World's largest investment firm BlackRock has applied for a spot Bitcoin ETF in the US which would be a first of Its kind if approved by the SEC the eye Shares Bitcoin trust would allow Investors to access the Bitcoin Market Without the complexities and operational Burdens of direct ownership the fund Would use coinbase custody Trust Company As its Bitcoin custodian and Bank of New York melon as its Fiat custodian the Spot Bitcoin ETF would track the CF Benchmarks index which updates the Bitcoin price at least every 15 seconds During regular trading hours BlackRock With more than 9 trillion dollars in Assets under management argues that the Spot Bitcoin Market does not need to be Regulated for the SEC to approve its Proposal as as the regulator has Previously replied on the underlying Futures market for approving Commodity-based trust shares BlackRock Joins a long list of spot Bitcoin ETF Applicants in the US though none have

Been approved so far grayscale Fidelity And Divan Eck are among those who have Faced rejection or delays from the SEC Coinbase is partnering with Block's Bitkey wallet to make self-custody of Bitcoin more accessible and User-friendly bitkey a self-custody Bitcoin while it is currently in its Global beta phase and is set to have a Wider public launch later this year beta Testers of the bitkey wallet have access To the mobile app and receive a hardware Device with Advanced security features Like a fingerprint sensor pin Authentication and mobile recovery with This partnership bitkey wallet holders Will be able to purchase Bitcoin on Coinbase and easily transfer to their Non-custodial wallet additionally Existing Bitcoin Holdings can easily be Transferred bitkey's app will display The full transaction cost offered by Different partners allowing customers to Choose the most suitable option before Being redirected to a partner hosted Experience the bitkey wallet has also Announced a partnership with cash app a Product of block formerly Square which Integrates with the bitkey app the Texas State Securities board has issued an Emergency cease and desist order against Crypto lender Abra and its founder William barrheit alleging Securities Fraud and insolvency since at least

March 31st of 2023 the regulator accused Abra and bar height of misleading the Public through investment offerings in Abra earn and Abra boost that contained Materially misleading statements the Filing also stated that Abra trade and Plutus Landing have been secretly Transferring assets to binance and as of February 2023 they had assets valued at Nearly 119 million dollars on Abra has been in operation For nearly 10 years and had previously Announced plans to launch a state Chartered Bank in 2023 Abra and its Associated entities are still permitted To allow customers to withdraw funds While awaiting a scheduled hearing on The matter the regulator also revealed That Abra had substantial amounts of Funds with various companies including 30 million dollars with Babel Finance 8.8 million dollars with oros tech Limited 30 million dollars with Genesis And 10 million dollars with three arrows Capital however each of these companies Is undergoing liquidation or bankruptcy Processes the filing highlighted an Interview with bar height in which he Did not contest the conclusion of abra's Insolvency despite this plutus financial Holdings Inc or its affiliate or Subsidiary claimed on social media that Abra is not bankrupt and continues to Operate normally contradicting the

Regulatory fundings a digital art Collection that belonged to a defunct Crypto hedge fund has been sold by Sotheby's for millions of dollars The Collection which was assembled by three Arrows capital in 2021 featured some of The most rare and coveted nfts in the Crypto space one of the highlights of The auction was over Goose a digital Artwork by Dimitri cherniak that depicts A Golden Goose laying eggs the piece was Bought by three arrows capital for 1800 Ethan August of 2021 which was worth About 5.8 million dollars at the time Sotheby's sold it for approximately 5.5 4 million dollars plus fees totaling More than 6.2 million dollars other nfts That were part of the collection Included three crypto punks and one Auto Glyph from larva Labs which are among The first and most iconic nft projects On the ethereum blockchain the crypto Punks sold for between seventy five Thousand dollars and ninety thousand Dollars each while the autoglyph fetched A hundred and twenty thousand dollars The auction was part of the liquidation Process of 3ac which collapsed amid the 2022 market crash the hedge fund was Known for being crypto friendly and Investing in various digital assets and Projects however after the crash its Co-founders disappeared from the public Eye and faced illegal troubles from

Creditors and regulators and finally do Quan co-founder of terraform Labs will Be taken into extradition custody in Montenegro for up to six months the Court will decide whether to extradite Him to South Korea where he's wanted for His involvement in a massive crypto Fraud case the US has also requested his Extradition on various charges including Securities fraud and Market manipulation Kwan and his former CFO Were arrested in March at the podgorica Airport where they allegedly tried to Fly to Dubai with fake travel documents They had been living in Serbia after the Terra ecosystem collapsed in May 2022 Causing losses of up to 40 billion Dollars they are scheduled to face trial In Montenegro on June 16th for Falsifying documents Quan is also under Investigation by the special State Prosecutor's office for his alleged Connections to a local politician miloko Spajich Juan claimed to have contacted Spajich the leader of the Europe now Party in a letter he sent to several Officials before the recent elections in Montenegro denied any ties to Quan but Their possible relationship and Financial transactions were widely Reported by the media and here's Something that I'm willing to report no Blurred faces No redacted sources I want All of you to know that I want you to

Like this video subscribe to our YouTube Channel and click on that little bell Icon to get buzzed whenever a new crypto Espresso video goes live thoughts on Today's episode well just drop me a line In that comment section below because I Read those comments and they keep me up At night questions about our headlines Or crypto in general take that plunge And desk Alex in the description below Alex is always a great resource for all Things web 3 and the metaverse and that About does it for today as always I've Been your host Andrew these have been Your headlines and ladies and gentlemen The weekend See you Monday


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