Jihan Wu Defends Matrixport Report
Crypto tycoon and Matrixport co-founder Jihan Wu responded to concerns about the company’s report on the rejection of spot Bitcoin ETF applications by the SEC. In a post on X, Wu clarified that the report was based on independent research and not influenced by the management team. This comes after speculation that the report may be part of a market manipulation scheme.
The controversial report, titled “Matrixport Analysis: SEC to Reject ETF Applications in January with Final Approval Pushed to Q2 2024,” had a significant impact on the market. Some industry figures, such as Bloomberg analyst Eric Balchunas, sought clarification from the author, Markus Thielen, due to doubts about its accuracy.
Analysts Maintain Spot Bitcoin ETF Most Likely to Receive Approval this Month
Prominent analysts like Balchunas and James Seyffart, who have sources within the SEC, disputed the Matrixport report, calling it speculative. They pointed out that the SEC’s actions contradicted an imminent rejection.
Despite this setback, Matrixport remains optimistic about Bitcoin for 2024, citing historical patterns and macroeconomic conditions.
Hot Take: Matrixport Report Stirs Controversy and Market Volatility
The recent Matrixport report predicting the rejection of spot Bitcoin ETF applications by the SEC has caused a stir in the crypto market. While Jihan Wu defends the report as independent research, some industry figures question its accuracy and potential for market manipulation. This controversy has led to increased volatility in Bitcoin’s price, with a flash crash occurring shortly after the report’s release. As analysts debate the likelihood of spot Bitcoin ETF approval this month, uncertainty looms over the future of crypto regulation in the United States.
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