Posted 11/23/2023, 3:54:10 AM
Crypto Exec Predicted Binance Downfall Needed for Bitcoin ETF Approval; BlackRock and Grayscale Meet with SEC on ETF Bids After $4B Binance Settlement
- Crypto executive Travis Kling predicted 5 months ago that spot Bitcoin ETFs would only be approved after Binance lost market dominance
- Binance settled with U.S. for $4.3B, agreeing to compliance monitors for up to 5 years
- Some speculate settlement was planned to diminish Binance's role in price discovery before spot BTC ETF approvals
- BlackRock met with SEC, presented spot Bitcoin ETF model same day as settlement news
- Grayscale also met with SEC about spot Bitcoin ETF bid amid speculation over timing