Episode Details

07th Sep: Crypto & Coffee at 8 🎙️
🚨Ethereum ETF by Ark + 21Shares + VanEck 🔥Genesis sues DCG, and other affiliates for $600M loans 😱FEAR (Fear & Greed Index) at 41🚔 Update on Legend Sam Bankman-Fried

🔴 Cboe Global Markets’s BZX exchange has submitted filings to introduce Ether ETFs in partnership with ARK Investment Management LLC, 21Shares, and VanEck. If approved, these would mark the first spot for Ether ETFs in the United States. The exchange officially initiated the review process by filing 19b-4 documents on Wednesday. Upon acknowledgement of these filings by the U.S. Securities and Exchange Commission (SEC), a 240-day countdown for the final decision will commence. CoinDesk article here states that Coinbase will act as the surveillance-sharing partner for both products, similar to the role it expects to play with a broad swath of spot bitcoin ETF. Article here https://lnkd.in/dnyUfJHa Filing here https://lnkd.in/dk6cb8zE

- Does this mean Ether to the Moon🚀?

❗ Genesis Global Capital has submitted legal documents asserting that Digital Currency Group (DCG) has outstanding debts of over $600 million. This includes $500 million from a specific loan and an additional 4,550 BTC owed by DCG International. The pair of filings on Thursday alleges that DCG borrowed up to $500 million across four different loans from Genesis in 2022, while DCGI borrowed 18,697.7 BTC in 2019

🚨 Important to note Genesis, filed for bankruptcy in January this year, and alleged in its Wednesday filings that DCG and DCGI are “wrongfully in possession of property” belonging to Genesis Global Capital’s bankruptcy estate.

🔥 Barry Silbert. is CEO and founder of Digital Currency Group (DCG) DCG’s biggest revenue generator: digital asset manager Grayscale Investments, As per Arkham Grayscale is the 2nd largest BTC entity globally, holding >$16B of BTC.

🎙️ Check out Blockchain DXB Crypto & Coffee at 8 podcasts where we explain this drama. We also discuss (the Fear & Greed Index) and what does it mean. Also, see slides 1 & and 2 below for a global snapshot of 

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