Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Prices of cryptocurrencies swung sharply on Tuesday after a false post on the US
Securities and Exchange Commission’s official X account claimed the regulator had
approved the first ever US spot bitcoin exchange traded funds.
The fake post declared just after 4pm Washington time that the SEC “grants
approval for #Bitcoin ETFs for listing on all registered national securities
exchanges”. It was picked up immediately on social media, business news websites
and Bloomberg TV.
Just over 10 minutes later, the SEC chair poured cold water on the announcement.
Gary Gensler posted on his personal account on X: “The @SECGov twitter account
was compromised, and an unauthorized tweet was posted. The SEC has not
approved the listing and trading of spot bitcoin exchange-traded products.”
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Bitcoin
Bitcoin swingssharply afterfalse claim that SEC approved ETFs
Chair Gary Gensler says commission’s account on X was ‘compromised’
An SEC spokeswoman said that the original post “was not made by the SEC or its
staff”. By 5pm the SEC staff appeared to have regained control of the X account and
the false posting had been deleted.
Bitcoin rallied immediately after the post, for a 1.5 per cent gain on the day, but
swiftly reversed on confirmation that the news was fake and the price slid as much
as 3.4 per cent.
Cryptocurrency enthusiasts are on tenterhooks as the SEC is expected to decide
later this week whether to approve spot bitcoin ETFs, in what would be a watershed
moment for the digital asset.
At least 11 asset managers have applications pending before the SEC to launch spot
bitcoin ETFs. The SEC faces a deadline of Wednesday to approve some of the
applications.
Although the watchdog has previously resisted such products, it now has less room
for manoeuvre. A federal appeals court last year ruled that the SEC’s rejection of an
application filed by Grayscale to convert its $29bn bitcoin trust into such an ETF
was “arbitrary and capricious”.
So far this year, the volatile cryptocurrency has gained about 7 per cent on hopes
the SEC would grant approval.
Several applicants have said they received feedback from commission staff
indication that approval was possible this week.
The applicants range from large asset managers BlackRock, Invesco and Franklin
Templeton to smaller firms such as Ark Investment Management and Bitwise.
Earlier this week, the firms disclosed fees for their prospective products, with
several of the hopefuls either substantially cutting their fees or agreeing to waive
them altogether shortly after inception.
Totally agree AHS. I've been invested since early Jan21 and been quietly building my position since. With the BOD in at 2p I'm confident this will run and run big when the ducks fall in to place. Very exciting period ahead
Https://on.ft.com/49pwWK5
UK sets out proposals to bring stablecoins into real economy
Https://moneyage.co.uk/fca-and-boe-outline-details-for-regulating-stablecoins.php
I've been backing GST since Jan21 and been building a v.healthy holding since, buying at all levels over the period and I've never been more confident about the future of this investment. Don't get me wrong, everything hinges on getting the FCA licence and if approved, then gaining the licence to trade should see this fly. I fully understand the timescales and complexities of completing an FCA application, patience is key. I will definitely keep building and holding. Loving the rollercoaster ride in the process and can't wait to see how this plays out in The Future. DYOR IMO
Totally agree - the RNS clarifies the companies aspirations and it's fantastic to see their true intentions in black and white. Applications to the FCA take weeks, months even to prepare and 2-3 months for the FCA to analyse and issue a licence, so the board will be far too busy working on the detail to transform this company, than to worry about anything else. This RNS provides investors with a great outline of future plans . I'm excited to see what happens next and I'm genuinely enjoying the journey.
IMHO DYOR