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BTC Price Surges as Grayscale Wins Against SEC in ETF Case, Shibarium Gets Major Boost, Bitstamp Halts US Trading for SOL, MATIC, CHZ: Crypto News Digest by U.Today

Wed, 08/30/2023 - 16:00
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Valeria Blokhina
U.Today's daily news digest keeps you informed of the most important updates in the crypto industry
BTC Price Surges as Grayscale Wins Against SEC in ETF Case, Shibarium Gets Major Boost, Bitstamp Halts US Trading for SOL, MATIC, CHZ: Crypto News Digest by U.Today
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Take a look at the most important crypto events with U.Today's top three news stories.

Bitcoin price surges as Grayscale emerges victorious against SEC in ETF сase

Yet another company has scored a victory over the SEC following the Ripple case. Cryptocurrency asset manager Grayscale has issued a lawsuit against the regulatory agency for rejecting the idea to turn Grayscale Bitcoin Trust (GBTC) into a full-stack Bitcoin Spot ETF. After the court verdict was postponed three times in a row, the case finally made the long-awaited progress yesterday with a landmark ruling by Judge Neomi Rao of the D.C. Circuit Court of Appeals. In the ruling, she stated that the "denial of Grayscale's proposal was arbitrary and capricious because the Commission failed to explain its different treatment of similar products." Bitcoin's price saw an impressive spike on the news, reaching an intraday high of $27,740 on Bitstamp.

Shibarium receives major boost as Shiba Inu (SHIB) partner launches its own validator node

According to a recent post by Unification (FUND), the pioneering blockchain start-up behind Shibarium, its validator node is now open to delegation. The development signifies a major milestone for the Shiba Inu ecosystem as it allows BONE holders to interact with the network on a completely new level. At the moment, Unification's validator establishes itself as the largest Shibarium node operator in terms of staked tokens. The start-up has been entrusted with a total of four million BONE, with a self-stake of 9,999 tokens indispensable for node operation. As previously reported by U.Today, SHIB lead Shytoshi Kusama announced that Shibarium is now live and "ready for prime time."

Shiba Inu: Shibarium Reaches First Major Milestone

Bitstamp halts U.S. trading for SOL, MATIC, CHZ

Yesterday, Bitstamp's official X handle posted an important update for its U.S. users. According to the exchange's announcement, it had halted trading for seven cryptos: AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL. Trading activities related to the aforementioned digital assets have been paused until further notice on the Bitstamp platform. New orders involving these cryptocurrencies have been disabled, and all existing orders across all these trading pairs have been canceled. However, Bitstamp users can still hold these assets and withdraw them at any time. The exchange's decision follows the SEC's intensified scrutiny of the crypto industry. At the start of the week, the regulator accused Impact Theory media company of selling unregistered securities in the form of NFTs. In June, the SEC started legal action against Coinbase and Binance, stating that they traded some crypto assets that are securities.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.