ETFs
Five things to know about crypto this week: Spot ETFs extend entry streak to five weeks
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US Courts Challenge SEC Position on Disclosure
Wednesday June 5, the Fifth American Circuit released SEC rules require private fund advisors to provide complete information to investors.
The decision coincided with SEC Chairman Gary Gensler targeting the crypto market for disclosure, saying,
“We, the SEC, will celebrate our 90th anniversary tomorrow. Happy birthday SEC, 90 years old. And what President Roosevelt did was he created this commission to oversee that you, the investors, got the disclosure. And, in crypto markets, they don’t disclose this information to you.
The court’s ruling could give U.S. lawmakers further reason to deploy a U.S. digital asset framework that supports innovation while protecting investors.
Coinbase contributes $25 million to Fairshake
Monday June 3, Coinbase (PIECE OF MONEY) contributed $25 million to Fairshake PAC. According to its website, Fairshake supports American candidates committed to making the United States the home of innovators who will build the next generation of the Internet.
Last week, Ripple announcement his $25 million contribution to Fairshake PAC.
It is important to note that Coinbase contributed its $25 million shortly after US President Joe Biden. vetoed SAB resolution 121.
Coinbase is also fighting the SEC in court. Investors await court ruling on Coinbase Request for interlocutory appeal. If Judge Katherine Failla grants the motion for interlocutory appeal, Coinbase will appeal the court denying, in large part, Coinbase’s motion to dismiss (BAT).
A Coinbase victory against the SEC would be a boon for the crypto market. Despite the uncertainty regarding SEC vs. Coinbase In this case, Coinbase rose 8.07% to $244.16 in the week ending June 7.