SEC DELAYS BLACKROCK, FIDELITY, AND OTHER'S SPOT BITCOIN ETF APPLICATIONS

By Nik Hoffman

It is becoming comical at this point. The SEC has delayed its decision on spot Bitcoin ETF applications from BlackRock, Fidelity, and others. This is the first decision deadline for these applicants since filing, and the delay pushes the applications back another 45 days. The next bulk of deadlines are being slated for the middle of October.

The SEC has been hesitant to approve a spot Bitcoin ETF, citing concerns about market manipulation and investor protection. However, the recent court ruling in favor of Grayscale Investments, which is seeking to convert its Grayscale Bitcoin Trust (GBTC) into a spot ETF, could increase the chances of an approval.

Some people are disappointed by the delay(NOT ME), but others are not surprised(ME). They say that the SEC is taking its time to make sure that a spot Bitcoin ETF is properly regulated.

"We are delaying approval so we can pump our bags." - Gensler probably

BITCOIN MAGAZINE INSCRIBES COVER OF LATEST PRINT ISSUE AS RECURSIVE ORDINAL

By Tommy and Namcios

You know the old saying... use the tools. That's what our team did in launching the cover of the latest print magazine cover for "The Withdrawal Issue". We inscribed the cover of the latest print issue to the Bitcoin blockchain using ordinals inscription recursion technology. This means that the cover art, which features original artwork from Cryptograffiti, has been broken down into 20 smaller images and inscribed onto individual satoshis. The images are then reassembled on the blockchain to create a full-size copy of the cover. It is cool and weird and you love to see how builders and artists are able to use the blockchain. 

CHAINALYSIS, THE THERANOS OF BLOCKCHAIN FORENSICS?

By L0LA L33TZ

Did you think it's creepy how Elizabeth Holmes always wears the black turtleneck? Chainalysis, a blockchain forensics firm, has been accused of being the "Theranos of blockchain forensics." This is because the company's software has been criticized for being inaccurate and unreliable. In particular, Chainalysis' Reactor software has been accused of making mistakes in tracing the flow of funds on the blockchain.

The accusations against Chainalysis have been made by several experts, including Jonelle Still of CipherTrace. Still has said that Chainalysis' Reactor software is "reckless" and that its findings should not be relied upon.