VanEck BTC ETF delayed, Bitcoin Depot plans public listing and other news

August 28, 2022

A week in review: August 21–27

We've selected the hottest materials of the past week for you to stay up-to-date with the latest crypto news:

#1. Still waiting: SEC delays VanEck's third Bitcoin spot ETF application

The United States Securities and Exchange Commission (SEC) continues to drag its feet on approving a Bitcoin spot exchange-traded fund. Another bid by VanEck to list its spot Bitcoin ETF has been met with further hesitation by the SEC, which delayed its ruling earlier this week. VanEck has seen the government agency deny two of its previous Bitcoin spot ETF applications. The SEC has designated Oct. 11 as the deadline for approving or denying the application in question.

#2. Crypto ATM firm Bitcoin Depot aims to go public in 2023 via $885M SPAC deal

Crypto ATM provider Bitcoin Depot wants to list its stock on the Nasdaq via a merger with special-purpose acquisition company GSR II Meteora (GSRM). Bitcoin Depot is aiming to go public in the first quarter of 2023 with BTM as its ticker, pending regulatory approvals. The deal between GSRM and Bitcoin Depot totals $885 million in value. While several crypto-native firms have grown rapidly in recent years, public listings outside of Coinbase and Bitcoin miners have been rare.

#3. Ethereum Merge in trouble? Developers find bugs ahead of the planned update

Ethereum's highly anticipated transition to proof-of-stake, popularly known as the Merge, hit a roadblock recently after developer Péter Szilágyi uncovered a bug that could cause data corruption. However, the issue was quickly resolved by Ethereum developers, who deployed a hotfix that required participants to roll back their updates and test whether things were running smoothly. The Ethereum Foundation is looking to pay considerably higher sums to bug hunters leading up to the Merge.

#4. Prediction of the week. Why September is shaping up to be a potentially ugly month for Bitcoin price

Bitcoin's price traded largely sideways this week, although the asset took a downward turn on Friday, dropping below $21,000, according to Cointelegraph's BTC price index. With the end of August in sight, Bitcoin looks toward September — a historically rocky month for the digital asset. Between 2013 and 2021, Bitcoin's September performance has been positive only twice — in 2015 and 2016. This September could be especially volatile given the asset's stronger correlation with stocks.

#5. FUD of the week. 8 sneaky crypto scams on Twitter right now

Pseudonymous Twitter user Serpent, a cybersecurity pro, recently detailed several different tactics employed by nefarious players to con unsuspecting crypto and nonfungible token owners. Serpent's 19-part thread included mention of malware, copycat websites and more. One particular effort targets recent hack victims, with nefarious actors offering a way to recover funds for the victims but instead making off with a fee they require for the nonexistent service.

#6. FUD of the week. Malaysian regulators add Huobi to investor alert list

Securities Commission Malaysia recently put crypto exchange Huobi on its Investor Alert List, stating the entity does not hold proper regulatory registration. "We are currently in discussions with Malaysian regulatory authorities regarding our presence in the local Malaysian market," the Huobi Group told Cointelegraph in response. Huobi has recently made forward regulatory strides in the United States and Australia while facing headwinds in Thailand.

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