Aug 30, 2023

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories in crypto today, as Bloomberg analysts boost their bitcoin ETF approval odds after a court ruled the SEC must review Grayscale's bitcoin ETF.

Video transcript

Robin Hood adds two popular cryptocurrencies to its wallet and the bank gets a stamp of approval in Hong Kong. You're watching Coindesk Daily. I'm your host, Jenna. All right. Let's take a look at the markets. The coin desk, Bitcoin Price XX index is currently hovering around $27,000. It's fallen after a surge of nearly 8% yesterday when a Federal Appeals Court ruled the SEC must review gray scales. Bitcoin E bid after previously rejecting it. Bloomberg analyst boosted their Bitcoin ETF approval odds in light of the news saying they're upping their odds to 75% of spot Bitcoin ETF S launching this year and 95% by the end of 2024. Earlier on Coindesk, we spoke to Gray Scale Chief Legal Officer Craig. So about their next steps, we have to respect and honor the process. The reason why it's there is to give the losing party the opportunity to read the opinion, digest it, decide whether they want to seek a rehearing and we just have to honor the process. Otherwise, again, just laser focus on re engaging constructively with the Sec. Robin Hood has added walled support for Bitcoin and Dogecoin. It was previously restricted to sending and receiving ether and tokens built on the Ethereum Blockchain. It said its six month old wallet has hundreds of thousands of users spread across 140 countries. Thumbs down for a tentative deal struck between defunct lender Genesis and parent company DCG. It comes after an in principle deal between Genesis and DCG was announced on Tuesday in a court filing, a group of creditors described it as holy end quote. They took exception to DC G and Ceo Barry Silbert being released from future legal claims and threatened to block any final bankruptcy deal that incorporates the plans. DC G is also coin desks, parent company, a crypto bank based in Switzerland has one approval in principle from Hong Kong Securities and Futures Commission. Saba made the announcement saying that it quote aligns itself with the Hong Kong government and its financial regulators in facilitating an environment that supports the responsible growth of the digital assets industry and quote. The approval is the first step in acquiring a full license for Saba Hong Kong to deal in crypto or virtual assets related products and traditional securities. That's a wrap for coindesk daily, get more updates on coindesk dot com and we'll see you next time.

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