Wednesday☕️

30 Aug 2023 — 4 min read

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Grayscale Bitcoin Lawsuit:

Grayscale, a crypto asset management firm, has won a lawsuit against the U.S. Securities and Exchange Commission (SEC), as announced by the US Court of Appeals.
The court ordered the SEC to withdraw its rejection of Grayscale's request to convert its Bitcoin Trust into an exchange-traded fund (ETF), a move that could pave the way for the first Spot Bitcoin ETF in the United States. The SEC had initially rejected Grayscale's application in October 2021, citing concerns about market manipulation.
Grayscale then appealed the decision, leading to the recent court ruling. This victory could give Grayscale a competitive advantage in the race to establish the first spot Bitcoin ETF in America, a race that includes major asset management firms like BlackRock and Fidelity.
Grayscale's victory in court is a significant development in the ongoing race among asset management firms to establish the first spot Bitcoin ETF in the United States. Other major players in this race include BlackRock and Fidelity, both of which have been actively pursuing their own Bitcoin ETFs.

Hurricane Idalia:

Florida is in the initial stages of Hurricane Idalia, a storm that is quickly intensifying and bringing dangerous conditions to the Gulf Coast.
The storm is expected to cause significant flooding, a storm surge of up to 15 feet, and winds up to 125 mph. Emergency declarations and evacuations have been ordered in many counties, schools and universities are closed, and airports and bridges are shutting down.
There are various warnings in effect, including a Hurricane Warning and a Storm Surge Warning. Life-threatening flooding and extended power outages are expected. Residents are advised to follow the instructions of local officials, secure their properties, and evacuate if necessary.

Land Grab:

The acquisition of over $800 million worth of undeveloped land adjacent to Travis Air Force Base in Solano County, California, has been confirmed to be orchestrated by tech billionaires, dispelling earlier concerns that Chinese investors were purchasing the land for espionage purposes.
Over a span of six years, "Flannery Associates" acquired more than 55,000 acres of barren land in the vicinity of the significant military base located in California's Bay Area.
Despite persistent warnings from politicians about the potential risk of Chinese investors acquiring the land to conduct surveillance on the military base, it has been verified that the purchasers include the co-founders of LinkedIn and Stripe, as well as the widow of Steve Jobs, who intend to develop the land into a city.

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