Yesterday’s “crypto crash” has likely forced the SEC to once again reject a bitcoin ETF.  Before the crypto crash, there was momentum gaining in the crypto community that a bitcoin ETF was finally going to be approved.  The main reason for this hope was the crypto background of new SEC Chair Gary Gensler. Crypto hopefuls pointed to the blockchain courses that Mr. Gensler taught at MIT and felt that his crypto knowledge would surely put him in the bitcoin ETF approval camp. While it’s true that Mr. Gensler is an expert on the blockchain and cryptocurrency markets, it’s also true that (more…)

Ever since IEX proposed the D-Limit order last year, it has been contentious. Citadel and the legacy stock exchanges have voiced considerably opposition to the proposed order type, and Citadel has filed a lawsuit to force the SEC to overturn its approval. While the D.C. Circuit Court considers the lawsuit, three amicus briefs have just been filed in support of the SEC approval. Amicus briefs, or sometimes called “friend of the court” briefs are filed by people who are not part of the litigation but can assist the court by offering their expertise on the issues of the case. The three (more…)