BITCOIN

Global investment bank JPMorgan expects the U.S. Securities and Exchange Commission (SEC) to approve multiple spot bitcoin exchange-traded funds (ETFs) at once, instead of giving one company the advantage of being the first. The bank’s analyst explained that if the securities regulator wants to defend its denial of Grayscale’s bitcoin ETF conversion proposal, it would have to retroactively withdraw its previous approval of bitcoin futures ETFs. “Such a retroactive withdrawal would be very disruptive and embarrassing for the SEC,” he cautioned. JPMorgan Expects to See Several Spot Bitcoin ETFs Approved JPMorgan analyst Nikolaos Panigirtzoglou explained in a note last week that the U.S. Securities and Exchange Commission (SEC) may be forced to approve several spot bitcoin exchange-traded funds (ETFs) after a court ruled in favor of Grayscale Investments regarding the crypto asset manager’s proposal to convert its bitcoin trust into a spot bitcoin ETF. “The court ruling on the Graysc

Economist Peter Schiff has warned that the U.S. cannot afford to decouple from China. “Our entire standard of living rests on the support of China,” he stressed, adding that “If we lose that support, it’s going to collapse.” He also predicted the collapse of the U.S. dollar as the USD loses its world’s reserve currency status. Peter Schiff on US-China Decoupling, Dollar Collapse Economist and gold bug Peter Schiff discussed various economic topics, including the relationship between the U.S. and China, in an interview with NTD News last week. Commenting on the recent statement by Commerce Secretary Gina Raimondo stating that “Decoupling is neither in our economic or national security goals,” Schiff stressed: We can’t afford to decouple because you have to recognize that China is both our biggest supplier and our biggest banker. The Chinese loan us the money to buy the stuff that they produce that we can’t, and our entire standard of living rests on the support of China. “If we

Mayur Kamat, head of product at Binance, is leaving the crypto exchange which has seen several executive exits in recent months. His and the other departures coincide with an ongoing regulatory clampdown on crypto business that has placed the leading trading platform for digital assets under increased scrutiny in some jurisdictions. Crypto Exchange Binance’s Global Head of Product Resigns Product Lead for Binance, Mayur Kamat, has resigned, according to a spokesperson for the world’s largest cryptocurrency exchange quoted by Reuters on Monday. The news follows other executive exits and job cuts at the company in the past few months. In early July, the crypto giant’s Chief Strategy Officer, Patrick Hillmann, confirmed on social media he was leaving Binance while a report by Bloomberg revealed that Senior Vice President for Compliance, Steven Christie, and Binance’s General Counsel, Hon Ng, had also left. Later that month, the Wall Street Journal published an article claiming that B