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🕐SEC delays ETF options decision, ‘Hawk Tuah’ resurfaces, & more


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Your weekly roundup of the 🔥hottest news in crypto:

🕐SEC delays ETF options decision, 'Hawk Tuah' resurfaces, & more

Written by Ciaran Lyons

Feb. 2 - 8

#1

SEC seeks more time to mull options on Ethereum ETFs

US regulators said they need more time to decide whether to permit the trading of options tied to Ether exchange-traded funds (ETFs), according to a Feb. 7 regulatory filing.

The filing was a response to Nasdaq ISE's July request for permission to list options contracts for BlackRock's iShares Ethereum Trust (ETHA). The US Securities and Exchange Commission now has until April 2025 to reach a decision, per the filing.

Nasdaq's proposed rule change would apply exclusively to options on ETHA, which is the only Ether ETF listed on Nasdaq's electronic exchange. Others are listed on the New York Stock Exchange's Arca or Cboe.

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#2

Alex Mashinsky requests one-month delay for sentencing hearing

Roughly two months after pleading guilty, former Celsius CEO Alex Mashinsky has requested a delay in his sentencing hearing, which is scheduled for April 8.

In a Feb. 5 filing in the US District Court for the Southern District of New York, Mashinsky asked the court to push his sentencing hearing from April 8 until May 8. According to the former Celsius CEO's lawyers, Mashinsky was "simultaneously being pulled in a number of directions" amid his guilty plea in criminal court and litigation in bankruptcy court.

"The defense wants to ensure that it has sufficient time to prepare a sentencing submission that accurately presents Mr. Mashinsky's views on his offense conduct, along with the many other factors to be considered by the Court in weighing an appropriate sentence," said the filing.

#3

Haliey Welch, aka 'Hawk Tuah,' speaks out after nearly two months

Haliey Welch, widely known as the "Hawk Tuah" girl, made her first media appearance after nearly two months of silence following the launch of the HAWK memecoin and the subsequent crash of the token's price.

In a leaked interview conducted with YouTuber FaZe Banks, Welch claimed the project manager for the memecoin told her the token would have a long-term time horizon and would be positive for the crypto space.

Welch said she initially did not want to launch the memecoin and was unfamiliar with the asset sector but did so because she was told half the money from the token would go to her charity.

#4 Prediction of the week

'Altseason' ended in 2024: Bitcoin dominance should hit 71% before it returns

Bitcoin dominance of the overall crypto market needs to pass 70% to restart "altseason," new analysis says.

In his latest Xposts, popular trader and analyst Rekt Capital warned that the most recent altseason has already finished.

Bitcoin market capitalization dominance spiked to near four-year highs this week as altcoins took major losses amid a broad risk-asset rout.

Dominance reached 64.3%, data from Cointelegraph Markets Pro and TradingView confirms, before returning to circle 61%.

As BTC price strength held up better in the face of macroeconomic uncertainty, attention began to focus on the altcoin market's prospects going forward.

#5 FUD of the week

US Treasury sued for giving Elon Musk's DOGE access to sensitive info

Union groups have sued the US Treasury, accusing it of breaking federal laws by giving Elon Musk's Department of Government Efficiency enforcers access to sensitive financial and personal information.

The American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), the country's largest union group, sued the Treasury and Secretary Scott Bessent in a Washington, DC, federal court on Feb. 3 to stop what it alleged is an "unlawful ongoing, systematic, and continuous disclosure of personal and financial information" to Musk and DOGE.

"The scale of the intrusion into individuals' privacy is massive and unprecedented," the AFL-CIO said. "People who must share information with the federal government should not be forced to share information with Elon Musk or his 'DOGE.'"

#6 FUD of the week

Coinbase to face lawsuit over unregistered securities sales, judge rules

A US federal judge has rejected Coinbase's argument that it does not meet the definition of a "statutory seller" under federal law, forcing the cryptocurrency exchange to face an investor lawsuit in the state of New York.

According to a Feb. 7 Reuters report, US District Judge Paul Engelmayer has compelled Coinbase to face plaintiffs' allegations that it sold securities without registering as a broker-dealer. Specifically, the plaintiffs accused Coinbase of selling 79 cryptocurrencies that were securities without proper registration.

As Cointelegraph reported, the class-action lawsuit was initially dismissed in the District Court of Southern New York in February 2023. However, the Circuit Court of Appeals revived parts of the lawsuit more than one year later.