Connect with us


SEC commissioner disagrees with the SEC’s rebuttal of Bitcoin ETF request



Bitcoin SEC

It results clear that even though we have walked some steps towards having a better relationship with the Securities and Exchange Commission (SEC) of the United States, still, we are separated from the ‘ideal’ of how it should actually be.

In fact, we have seen very severe regulations, as well as warning signals, that in most of the cases we can all agree are just not appropriate and even less, accurate. However, this is a story that seems to be only starting, and as I consider, there’s still so much to come.

In this sense, one of the latest news involving the crypto world and the SEC affects nothing less than the king of the cryptos in the market, Bitcoin (BTC). The crypto-king recently filed an application in which it requested SEC to deploy a Bitcoin exchange-traded fund (ETF), the same that got rejected under arguments, and the rejection, even for a reputed SEC commissioner seems to be lacking fundament and coherence. Let’s see how it goes.

SEC statement regarding the Bitcoin ETF application

A couple of days ago the Securities and Exchange Commision (SEC) emitted a paper in which it made clear that the Bitcoin exchange-traded fund (ETF) request made by the Winklevoss twins, was not a thing they were willing to accept. According to the declarations, the main argument against the Winklevoss petition centers on the fact that they are unable to inhibit price manipulation with the ETF. The announcement specifies the following:

“The Commission addresses each of these arguments below. In Section III.B, the Commission addresses BZX’s assertion that bitcoin and bitcoin markets, including the Gemini Exchange, are uniquely resistant to manipulation and finds that the record before the Commission does not support such a conclusion.”

The Securities and Exchange Commission (SEC) continued by saying that one of the main pieces of the ETF that the Winklevoss brothers proposed, centers on the Gemini exchange, which as they consider does not have the sufficient tools to prevent potential manipulations of the prices of the coin.

Hester Peirce declarations after SEC’s dictamen

After the dictamen of the SEC, it didn’t actually take that much for the SEC commissioner, Hester Peirce to make public her opinion on the subject. She made it clear as well that she was utterly in disagree with the conclusion of the SEC on the case. She stated:

An opinion that, of course, besides raising a huge wave of controversy, showed as well the perception of the commissioner with respect to Bitcoin.

It is evident that factually speaking, Bitcoin is definitely mature and reputed crypto that has the tools to avoid any adverse situation that may occur with the price of the token. However, a decision seems to be made already on the subject, so the only thing we can do is wait for another news around Bitcoin ETF and SEC. Stay tuned.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pixabay


XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub ( ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

Continue Reading


Should Crypto Projects Devote Resources to Community Growth and Marketing?



2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

Continue Reading


XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata



Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub ( will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

Continue Reading