U.S. spot Bitcoin exchange-traded funds (ETFs) saw $71.73 million in net outflows on Thursday, marking the third consecutive day of declines. BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, recorded its first net outflows since May 1, with $13.51 million exiting the fund, according to data from SosoValue. Other major Bitcoin ETFs also experienced outflows. Grayscale’s GBTC saw $22.68 million withdrawn, while Fidelity’s FBTC registered $31.11 million in outflows. Bitwise’s BITB and Valkyrie’s BRRR reported outflows of $8.09 million and $1.68 million, respectively.
- 0 replies
- 0 recasts
- 0 reactions
The U.S. Securities and Exchange Commission on Monday sued the cryptocurrency company NovaTech and its married co-founders, saying they fraudulently raised over $650 million from more than 200,000 investors worldwide, including many Haitian-Americans. NovaTech and co-founders Cynthia and Eddy Petion allegedly promised investors their money would be safe, with Cynthia Petion assuring they would be "in profit from day one." The SEC said the Petions instead used new money mainly to repay earlier investors and pay commissions to promoters, while siphoning millions of dollars for themselves. It said the scheme lasted for four years until NovaTech's May 2023 collapse. Monday's lawsuit in Miami federal court came two months after New York Attorney General Letitia James sued NovaTech and the Petions in a state court in Manhattan, estimating their fraud at more than $1 billion.
- 0 replies
- 0 recasts
- 0 reactions
Kamala Harris’ campaign is reportedly in discussions with Bitcoin Magazine about her possible participation in the upcoming Bitcoin Conference. In a recent post on X, Bitcoin Magazine CEO David Bailey revealed that they are “in talks with Kamala Harris campaign for her to speak at the conference.” Bailey claimed that Harris’ appearance could “reset the Democrat positioning on the fastest growing voter block in the country.” The decision from Harris’ camp is anticipated today. The endorsement underscores the potential for Harris to carve out a distinctive niche within her party, positioning herself as a forward-thinking leader in the tech space. Further supporting this narrative, Harris’ team has reportedly reached out to several cryptocurrency executives for policy input ahead of the Democratic National Convention. Tech leaders see a strategic opening for Harris to garner support from Silicon Valley by adopting a more pro-innovation stance.
- 0 replies
- 0 recasts
- 0 reactions