Episode Details

30th Aug: Crypto & Coffee at 8 🎙️
🚨 Grayscale big court win against SEC 🔥CoinSwitch & CoinDCX cut staff ❌Pepeoin rug pull?❌ ⚡Circle launches USDC in Chile + and will launch natively on the Coinbase Base network.⚡

🔴 Grayscale Investments has emerged victorious in its legal battle against the U.S. Securities and Exchange Commission (SEC). Because of this news, Bitcoin has surged & global crypto market is up by $50B

- Does this mean Spot Bitcoin will be approved? Not Yet!

❗ The U.S. District Court, District of Columbia Court of Appeals has ruled in favour of Grayscale, overturning the SEC’s lawsuit and potentially bringing the company one step closer to achieving Bitcoin Spot exchange-traded fund (ETF) status Official info here https://lnkd.in/dKPSni26

❗ James Seyffart, CFA, CAIA has put a series of crucial tweets with images here https://lnkd.in/dy_r92Mr explaining what it means and spot Bitcoin ETF may be one step closer. Also As far as appeals go, the SEC has 45 days to file for an en banc hearing.

❗ CoinDesk has a great article The Real Reasons the Grayscale Bitcoin ETF Decision Matters a good read here https://lnkd.in/dmPj4GX9 Check out Blockchain DXB’s Crypto & Coffee at 8 podcasts to get our commentary on this

🔥 You’re Fired
Tiger Global-backed crypto startup CoinSwitch has laid off 44 employees from its customer support team in August, citing redundancy in roles as customer queries have gone down amidst a drop in crypto trading volumes. This comes less than a week after peer CoinDCX laid off about 12% of its employees. News via moneycontrol.com here https://lnkd.in/dpvpjJuT According to LinkedIn, the firm employs 730 people.

❌ Pepecoin: Rug pull
- Cointelegraph article here states several rogue Pepecoin developers 
changed the number of signatures required to move tokens from their multi-sig wallet from five out of eight to two out of eight. Then, they sent $16 million worth of PEPE to crypto exchanges, suggesting they wanted to sell. Article here https://lnkd.in/d9pF7eCj

❌ What do you think is the future of Pepecoin and Memecoins? Market analyst Nebraskangooner suggests that PEPE’s price could soon plunge to near zero due to a descending triangle formation on the four-hour chart.
 

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