Fidelity lobbies for Bitcoin ETF, Ray Dalio thinks that regulators will kill BTC and $2B for Coinbase
Coinbase increases junk-bond offering to $2B
Leading United States-based cryptocurrency exchange Coinbase has seen enormous demand for its junk-bond offering, with the firm increasing the size of the sale by one-third from $1.5 billion to $2 billion.
According to The Economic Times, at least $7 billion worth of orders were placed in competition for equal quantities of seven- and 10-year bonds, offering interest rates of 3.375% and 3.625%, respectively.
However, the exchange’s bonds were rated one rank below investment-grade, with Bloomberg bond indexes indicating that similar debt offerings fetch a 2.86% yield on average.
Fidelity lobbies SEC to approve Bitcoin ETF in private meeting
Multinational financial services firm Fidelity Investments has pressed the United States Securities and Exchange Commission to approve its Bitcoin exchange-traded fund (ETF).
A private meeting was held on Sept. 8 among Fidelity Digital Assets president Tom Jessop, six of the firm’s executives and several SEC officials. The finance executives laid out a number of reasons why the regulator should approve the investment product. These include increased demand for digital assets and related products, the prevalence of similar funds in other countries, and the rise of Bitcoin adoption.
World’s largest hedge fund manager says regulators would kill Bitcoin
Ray Dalio, the American Billionaire, and Manager of the World’s Largest Hegde Fund Bridgewater Associates believe regulators would try to “kill” Bitcoin if it becomes very successful.
Dalio who has turned into a Bitcoin proponent after bashing it for years, recently revealed he holds Bitcoin himself and called it a better alternative to Gold. Dalio’s comments come at a time when the US regulatory environment is pretty heated up.
“I think at the end of the day if it’s successful, they will kill it and they will try to kill it. And I think they will kill it because they have ways of killing it.”
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