Grayscale Wins Court Case; Bitcoin Jumps 6% in 1st Hour

Grayscale Wins Court Battle Against SEC

• Grayscale Investment won a court battle against the U.S Securities and Exchange Commission, allowing Bitcoin to jump 6% in the first hour after the ruling.
• Robinhood holds over $3 billion in Bitcoin, placing it alongside Binance and Bitfinex’s biggest wallets.
• The SEC is taking enforcement actions against Impact Theory for an ‘unregistered NFT offering’ expanding into the NFT market.

Grayscale Investment Victory

Grayscale Investments won a court battle against the United States Securities and Exchange Commission (SEC), resulting in a 6% jump in Bitcoin prices within an hour of the ruling. This decision has opened up more investment opportunities for those interested in cryptocurrencies.

Robinhood Biggest Wallet Holder

The stock trading app, Robinhood, holds over $3 billion worth of Bitcoin making it one of the biggest wallet holders alongside Binance and Bitfinex exchanges. This gives investors access to liquidate their holdings faster than other traditional methods such as through banks or other third-party services.

Enforcement Actions by SEC

The SEC is taking enforcement actions to Impact Theory for an ‘unregistered NFT offering’ expanding its scope into examining Non-Fungible Tokens (NFTs). Additionally, Sam Bankman-Fried lawyers are decrying procedural breach as evidence pages pile to 7.7 million from 4 million initially sent by the government on Aug 24th.. They have requested that court intervene and prevent any further large document releases before trial begins soon.

Government Hits Bankman-Fried with Discovery Documents

The US government has hit Sam Bankman Fried’s lawyers with 4 million pages of discovery documents which were then followed up with another 3.7 million pages sent on August 28th by prosecutors resulting in 7.7 million pages total available for defense use. His lawyers are seeking intervention from the court to bar further document release as they prepare for trial soon .