Grayscale Wins Appeal, Market Soars ⚖️

GM. This is Degen Scoop. It’s Wednesday, here’s the scoop:

• Grayscale Wins Appeal, Market Soars ⚖️

• Binance Releases New App for Latin America 📱

• BitBoy Denounces Diabolical Allegations 😤

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

Greyscale Won Its Appeal Against The SEC, Markets Soared in Response

Grayscale is best known for its fund GBTC which is a Bitcoin trust; the appeal that was won was the desire to convert this trust to an ETF. Put simply, if this is allowed to become an ETF it would be nonsensical to deny the rest of the spot ETF applications that are currently under review. Below you’ll find a lawyer’s opinion who is more knowledgeable on the law than us here at Degen Scoop.

The judge has demanded the SEC to review the appeal again, but the SEC can drag their feet of which there is a 45 day window. Despite the fact that we have yet to see a Bitcoin spot ETF on the market, as the days drag on the probability looks ever higher. Most notably, Grayscale previously argued that if there appeal was to be green lit, the other applications should be passed as well.

Binance Releases Send Cash, New Platform To Transfer Crypto For Latin America

It was just under a week ago that the partnership between Mastercard and Binance ended. Binance wasted no time with this loss and has since released Send Cash which is a meant to be a platform dedicated to transfer crypto assets out of Binance Pay. The participating countries are Honduras, Dominican Republic, Colombia, Panama, Costa Rica, Argentina, Paraguay, Guatemala, and Mexico.

It’s no secret that crypto adoption is growing in Latin America where the politicians are infamous for printing away all the value of local currencies. With platforms like Send Pay in place, it’s easier for users to obtain digital dollars and exchange those to purchase goods and services. Stablecoins are valuable for this reason and will continue to see increased adoption.

BitBoy Refutes ‘Diabolical’ Allegations from BitBoy Crypto Network

This week, BitBoy was removed from his own company by the holding company due to allegations of substance abuse and leveraged damages. Whether the allegations are true, it’s important to note that BitBoy has had issues with substance abuse in the past. This isn’t to insinuate relapse is inevitable, but rather context for the situation at hand.

Whether the allegations are true or not, it’s likely that this will find its way to court if BitBoy wants it to. BitBoy has admitted to the administration of the steroids dianabol and testosterone. This could be a possible reason behind the behavior, but there is likely more to the story being kept from public eyes. When the lawsuit happens, we’ll be covering it here.

Notable NFT Sales in the Last 24 Hours:

Notable Threads You May Have Missed:

Meme of the Day

If you think your memes are better, submit them to the newsletter and get featured for your work!

Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

Thank you for reading, if you enjoyed this please subscribe if you haven’t already! If you’ve already subscribed, please consider sharing this!

DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.