The Securities and Exchange Commission (SEC) is delaying its decision on spot Bitcoin ETF applications, and some speculate that this is due to concerns surrounding Binance. Binance, a major cryptocurrency exchange, is facing regulatory scrutiny for potential market manipulation and violations of anti-money laundering (AML) rules. If Binance is sidelined, traditional finance giants like BlackRock and Fidelity could dominate the crypto sector. There are rumors of market manipulation and non-compliance issues surrounding Binance, and the Department of Justice (DoJ) is reportedly preparing a case against the exchange for potential fraud charges. Some believe that the SEC’s decision delay is a strategy to give the DoJ enough time to build a strong case. Several significant players in the crypto industry, including WisdomTree, VanEck, and Invesco Galaxy, are waiting for the SEC’s decision on their Bitcoin ETF applications.
AI Sentiment: Neutral
