#CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (OTC: $GBTC) (NasdaqGM: $CAN)

 

 

 

#CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (OTC: $GBTC) (NasdaqGM: $CAN)

 

Grayscale Wins ETF Lawsuit Against SEC – Commentary from Lolli CEO Alex Adelman, and Canaan Posts Quarterly Financial Results

 

August 30, 2023 -  Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

 

Today’s podcast is sponsored by Fintech Company AppTech Payments Corp. (NasdaqCM:APCX).

 

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https://www.investorideas.com/Audio/Podcasts/2023/083023-CryptoMarket.mp3

 

Read this in full at https://www.investorideas.com/news/2023/crypto-corner/08301GBTC-CAN.asp

 

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Stocks discussed: (OTC:GBTC) (NasdaqGM:CAN)

 

Digital currency asset manager Grayscale Investments reported that it won its lawsuit challenging the decision by the Securities and Exchange Commission (SEC) to deny conversion of Grayscale Bitcoin Trust (OTC:GBTC) into an ETF. Grayscale’s CEO, Michael Sonnenshein, commented:

 

“This is a historic milestone for American investors, the Bitcoin ecosystem, and all those who have been advocating for Bitcoin [BTC] exposure through the added protections of the ETF wrapper. Grayscale has adhered to U.S. financial rules and regulations in building our product suite since our founding in 2013, underpinned by one fundamental belief: investors deserve transparent, regulated access to crypto. It’s incredibly exciting that we are one step closer to making a U.S. spot Bitcoin ETF a reality.”

 

Alex Adelman, CEO and Co-founder of Bitcoin rewards application Lolli, has provided the following commentary to Investorideas.com regarding the news:

 

“Grayscale’s victory against the SEC in court this week is a milestone for the bitcoin ecosystem and suggests that bitcoin ETF approvals from the regulator may be coming soon. The SEC’s failure to provide clear, transparent explanations for selectively rejecting and approving materially similar bitcoin-based financial products has created frustration and confusion in the industry, while stagnating growth and innovation.

 

The ruling will put new pressure on the SEC to be transparent in sharing coherent explanations on its approval process, and help pave the way for products that will make bitcoin accessible to mainstream investors. Bitcoin’s price rally on the news suggests that investors are pricing in this development as a vote of confidence in upcoming bitcoin ETF approvals and a stronger, more transparent regulatory environment.

 

The most recent round of bitcoin ETF applications from leading global institutions like BlackRock and Fidelity has only further demonstrated that demand for bitcoin is growing among top institutions and investors. At the same time, spot bitcoin ETFs have seen accelerated listings in the EU and beyond, demonstrating that now is the time for the U.S. to embrace innovation by making bitcoin available to investors through exchange-based products or risk falling behind global powers that are moving faster to claim this advantage.”

 

Canaan Inc. (NasdaqGM:CAN) has announced its unaudited financial results for the three months ended June 30, 2023. Highlights include 6.1 million Thash/s of total computing power sold, revenues of $73.9 million USD, and a mining revenue of $15.9 million. Nangeng Zhang, the company’s Chairman and CEO, said:

 

“Despite the relatively stagnant bitcoin price in the second quarter, our endeavor to drive sales across various fronts, including major clients, channels, and retail, yielded encouraging results. This effort propelled our total computing power sold to a remarkable 6.1EH/s, up 44% sequentially. Our partnerships with channel clients proved fruitful, while our online retail store continued to capture new clientele from diverse geographical regions. Our mining revenue further set a new historic high in the second quarter of 2023. Recently, we have expanded into new mining projects in Africa and South America."

 

Sam Mowers, Investorideas

 

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

 

Podcast sponsor: 

AppTech Payments Corp. (NasdaqCM:APCX) is an innovative Fintech company whose mission is to deliver a better way for businesses to provide their customers with immersive commerce experiences. Commerse™, its all-new, patent-backed technology platform powering seamless omni-channel Commerce Experiences-as-a-Service (CXS), drives highly secure, scalable, cross-border digital banking, text-to-pay, crypto payments and merchant services altogether from a single, unified stack designed to increase operational efficiencies and growth for businesses while providing the economic convenience that their customers demand from today’s commerce experiences. For more information, visit apptechcorp.com.

 

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