Compound

Bitcoin ETF

Bitcoin

<p>The post <a href="https://coinpedia.org/news/blackrock-bitcoin-etf-comment-sparks-controversy-for-compound-labs-ceo/">BlackRock Bitcoin ETF Comment Sparks Controversy for Compound Labs CEO</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Jayson Hobby, the CEO of Compound Labs, has been controversial over an alleged comment letter to the U.S. Securities and Exchange Commission (SEC). The letter in question criticized the proposed BlackRock spot Bitcoin and Ethereum ETFs, citing concerns over hacking vulnerabilities, lack of legal remedies for losses in crypto trading, and issues related to crypto provenance.</p> 
<p>The controversy began when a social media user, Pledditor, brought the comment letter to public attention on November 29. Pledditor tagged Jayson Hobby in a post, seeking clarification about his alleged involvement.</p> 
<h2 class="wp-block-heading" id="h-hobby-s-response-and-denial"><strong>Hobby’s Response and Denial</strong></h2> 
<p>In a swift response, Jayson Hobby categorically denied sending any such email to the SEC. He expressed frustration over someone using his work email address to submit the comment. Hobby highlighted the ease with which false statements could be submitted to federal offices, pointing out a significant flaw in the verification process of the regulatory system. This incident has raised serious concerns about the integrity of the regulatory framework governing the cryptocurrency sector.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Well would you look at that. <br><br>Assuming this is real, the CEO of Compound <a href="https://twitter.com/jaysonhobby?ref_src=twsrc%5Etfw">@jaysonhobby</a> asked the SEC in a comment letter to reject the BlackRock spot <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> ETF<a href="https://t.co/T55WWoOSdq">https://t.co/T55WWoOSdq</a> <a href="https://t.co/3AuKYVaAkn">pic.twitter.com/3AuKYVaAkn</a></p>— Pledditor (@Pledditor) <a href="https://twitter.com/Pledditor/status/1729693117022982502?ref_src=twsrc%5Etfw">November 29, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-details-of-the-disputed-comment-letter"><strong>Details of the Disputed Comment Letter</strong></h2> 
<p>The comment letter, falsely attributed to Hobby, delved into various risks associated with publicly listed Spot Bitcoin and Ether ETFs. It mentioned a significant attack affecting Oasis and Summerfi and referred to an undisclosed UK court ruling. The letter’s detailed and authentic-seeming content has led to further confusion and questions about the legitimacy of the information regarding the BlackRock Spot Bitcoin ETF.</p> 
<h3 class="wp-block-heading" id="h-further-developments-and-community-reaction"><strong>Further Developments and Community Reaction</strong></h3> 
<p>In a later development, cryptocurrency enthusiast Luke Youngblood contacted Jayson, suggesting he submit his letter to the SEC. Hobby responded that the matter was under investigation.</p> 
<p>This incident has sparked a broader discussion in the crypto community about the increasing number of fraudulent activities and the need for more robust verification processes in regulatory submissions. The SEC has yet to comment on this specific incident.</p>

BlackRock Bitcoin ETF Comment Sparks Controversy for Compound Labs CEO

Table of Contents

CoinPedia News

Other articles published on Nov 30, 2023

USTC Explodes 335% In Fresh Bullish Streak – What’s Pushing The Price Up?

Bitcoin Price: How Much Can It Rise in 2024 in a Scenario Where ETFs Are Approved?

MicroStrategy Bitcoin Shopping Spree Continues With Purchase of 16,130 Bitcoins

India Seeks Extradition of Prime Suspect in $240M Crypto Scam from UAE

Innovating for the Future: RARI Chain’s Promise of Guaranteed Creator Royalties

CRV Price Forecast 2023-28: Is It Time to Buy CRV For Long Term?

Join our free newsletter for daily crypto updates!