Arxnovum files Bitcoin ETF application with Canadian securities regulators

Canadian investment fund manager Arxnovum Investments has filed a prospectus for a new Bitcoin (BTC) exchange-traded fund, or ETF, in Canada. On Jan. 11, the company filed a stack of preliminary documents for the Arxnovum Bitcoin ETF with Canada’s Ontario Securities Commission. According to a preliminary long form prospectus, Arxnovum plans to list its new Bitcoin ETF on the Toronto Stock Exchange. The listing is subject to the approval of the TSX in accordance with its original listing requirements. “The TSX has not conditionally approved the listing application of the…

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Coinbase Files Paperwork With SEC to Launch Public Offering

U.S. cryptocurrency exchange Coinbase had confidentially filed a draft registration for a public offering to the Securities and Exchange Commission (SEC). Coinbase Sent Draft Registration to the US SEC On December 17, 2020, the exchange made the announcement on its blog, stating that the firm submitted a draft registration statement on Form S-1 with the SEC. The firm also clarified: The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions. Plans of looking for an initial public offering (IPO)…

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Cred customers demand answers after platform files for bankruptcy

United States-based cryptocurrency lending service Cred filed for Chapter 11 bankruptcy protection on Saturday, leaving many customers searching for solutions to get their funds.  According to court documents, the legal team for Cred CEO Daniel Schatt filed bankruptcy papers for the company in the District of Delaware on Nov. 7. Cred listed its estimated assets at between $50-100 million and its estimated liabilities between $100-500 million.  In an official statement, the company said it had filed for Chapter 11 in an attempt “to maximize the value of its platform for its…

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Ethereum researcher Virgil Griffith files motion to dismiss North Korea conspiracy charge

Virgil Griffith, the former Ethereum Foundation researcher accused of conspiring to violate U.S. sanctions against the Democratic People’s Republic of Korea, filed a motion on Thursday to dismiss the charge against him on the grounds that prosecutors from the Southern District of New York have failed to properly state Griffith’s crime.  Griffith, 37, was arrested by FBI agents on Nov. 28th, 2019 following a presentation at a conference in North Korea in April.  Prosecutors allege that at the conference Griffith rendered services to the North Korean government in the form…

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FinCEN Files, Bitcoin And Money Laundering – Bitcoin Magazine

This article originally appeared in our Down The Rabbit Hole newsletter. If you want our news and analysis straight to your inbox, make sure you subscribe now! This week, a released cache of thousands of reports from major banks showed that these institutions ignored their own concerns and willingly moved trillions of dollars around the world on behalf of suspected terrorists, criminals and corrupt governments. Known as the “FinCEN Files” because the banks’ reports were filed with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN), this cache was brought to…

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Capital One Files Patent for Cryptocurrency Market AI Prediction System

Major U.S. financial services company Capital One has filed a new patent application for a cryptocurrency analysis and trading system that will attempt to predict crypto market trends and generate trading decisions using artificial intelligence (AI). Capital One’s Cryptocurrency AI System The United States Patent and Trademark Office (USPTO) published a patent application on Aug. 13 for a cryptocurrency system filed by financial services company Capital One Services. It is a continuation of Capital One’s system patented in June. Capital One Services is affiliated with Capital One Bank, a subsidiary…

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Grayscale Ethereum Trust Files To Become An SEC Reporting Company

On August 6, Grayscale Ethereum Trust filed to become an SEC reporting company. Amidst the Ethereum (ETH) bull run, Grayscale Investments voluntarily decided to make its Ethereum Trust an SEC reporting company. The company’s best known investment product is a Bitcoin Trust that holds around 400,000 Bitcoin (BTC). Additionally, its Ethereum Trust currently has 1.9 million ETH in its possession. Together, this represents $746 million in assets under management. As with other Grayscale products, Coinbase is acting as a custodian. Grayscale noted that the filing is under review. If approved,…

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Fueling the Cannabis Industry: US Crypto Lending Service Files for Regulated Token Sale

Chicago-based lending firm Ceres recently filed for a request to conduct a Reg. A sale in order to get approval from the U.S. Securities and Exchange Commission (SEC). Ceres wants to launch a token that will be used for garnering equity, while the company also wants to launch a coin that can be used to lend to cannabis startups in need of funding. Cryptocurrencies and cannabis culture go hand in hand in the eyes of many, and the company Ceres seems to be a firm believer of this theory. On…

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Wilshire Phoenix Files Publicly-Traded Bitcoin Trust to Challenge Grayscale’s $3.4 Billion Dominance

Wilshire Phoenix has filed to launch a publicly-traded trust called Bitcoin Commodity Trust (BCT) – putting the firm in direct competition with Grayscale Investments’ $3.4 billion bitcoin trust (GBTC). According to the June 12 filing with the U.S. Securities and Exchange Commission (SEC), the New York-based investment company will offer up to 80,000 shares at a maximum $25 per share. Wilshire Phoenix, which has had an exchange-traded fund (ETF) application rejected by SEC in the past, aims to raise $2 million from the sale, which “will be used to purchase…

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Visa Files Patent for Cryptocurrency System to Replace Cash

Visa International has filed for a cryptocurrency system patent that is meant to replace physical currency. The system, which utilizes both central banks and commercial banks, leverages a private blockchain to improve the payment ecosystem. Visa’s Cryptocurrency Patent Filing The United States Patent and Trademark Office (USPTO) published on Thursday a patent application entitled “digital fiat currency,” filed by Visa International Service Association on Nov. 8, 2019. The USPTO published Visa’s patent application for “digital fiat currency” on May 14; it was filed on Nov. 8, 2019. Source: Visa’s crypto…

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