Category: News

Rafael Henrique/SOPA Images/LightRocket via Getty Images

You might think you know Google Docs well, but there are a lot of lesser-known but useful features.
Not only can you voice dictate to Google Docs and display a real-time word count, you can create comparisons between similar docs.
Here are 11 of the most useful lesser-known features in Google Docs. 

If you’re like most people, you spend a lot of time in Google Docs. Maybe it’s your default word processor, or perhaps you still rely a lot on Microsoft Word. Either way, you no doubt spend enough time in Google Docs that it pays to go beyond the basics and know some of the best lesser-known features, tips, and tricks for getting the most out of this ubiquitous office productivity tool. Here are 11 of the best “secret” features for doing more with Google Docs. 

Dictate with your voice

Voice dictation isn’t yet 100% accurate, but it’s still a convenient way to create a document using just your voice. Google Docs supports voice dictation. To do it, just choose Tools, then Voice typing. You might need to give Google Docs permission to use your microphone, but after that a Click to speak button will appear on screen (you can drag it around if it’s in the way). Click, dictate, and click again when you are done. 

Open the Click to speak control to type using your voice.

Dave Johnson

Crop and edit images in a document

When you add an image to a Google Doc, you can continue to edit it. Click the image in your Google doc, and new tools should appear in the toolbar at the top of the screen. You can add a border around the image and give it a color, crop the image and, using the Image options button, change its alignment. 

When you select an …read more

Source:: Businessinsider

By JIM GOMEZ | Associated Press

MANILA, Philippines — Ferdinand Marcos Jr., the namesake son of an ousted dictator, praised his father’s legacy and glossed over its violent past as he was sworn in as Philippine president Thursday after a stunning election victory that opponents say was pulled off by whitewashing his family’s image.

His rise to power, 36 years after an army-backed “People Power” revolt booted his father from office and into global infamy, upends politics in the Asian democracy, where a public holiday, monuments and the Philippine Constitution stand as reminders of the end of Ferdinand Marcos Sr.’s tyrannical rule.

But in his inaugural speech, Marcos Jr. defended the legacy of his late father, who he said accomplished many things that had not been done since the country’s independence.

“He got it done, sometimes with the needed support, sometimes without. So will it be with his son,” he said to applause from his supporters in the crowd. “You will get no excuses from me.”

President Ferdinand “Bongbong” Marcos Jr. delivers a speech after being sworn in by Supreme Court Chief Justice Alexander Gesmundo during the inauguration ceremony at National Museum on Thursday, June 30, 2022 in Manila, Philippines. Marcos was sworn in as the country’s 17th president. (AP Photo/Aaron Favila)

President Ferdinand “Bongbong” Marcos Jr., center, greet after being sworn in by Supreme Court Chief Justice Alexander Gesmundo during the inauguration ceremony at National Museum on Thursday, June 30, 2022 in Manila, Philippines. Marcos was sworn in as the country’s 17th president. (AP Photo/Aaron Favila)

President-elect Ferdinand “Bongbong” Marcos Jr., left top, and his wife Maria Louise Marcos arrive for the inauguration ceremony at National Museum on Thursday, June 30, 2022 in Manila, Philippines. Marcos was sworn in as the country’s 17th president. (AP Photo/Aaron Favila)

President-elect Ferdinand …read more

Source:: Los Angeles Daily News

People make cash withdrawals from Halifax cash machines, or ATMs, set on a colourful wall in Manchester, United Kingdom.

Daniel Harvey Gonzalez/In Pictures via Getty Images

The British bank Halifax said Tuesday that staff can add pronouns to their name badges. 
The announcement received some criticism on social media.
The bank said any customers who don’t like the optional badges should “close their accounts.”

A UK bank told customers to close their accounts after they complained about gender-pronoun badges for staff.

The British bank Halifax — a subsidiary of Lloyds Banking Group — said Tuesday that it was giving its employees the option to add pronouns to their name badges.

It announced the move by posting an image on social media that shows a badge with the name “Gemma” alongside she/her/hers pronouns. The caption says: “Pronouns matter. #ItsAPeopleThing”

—Halifax (@HalifaxBank) June 28, 2022

The post prompted some criticism on social media from people who called the badge “nonsensical’ and accused the bank of “virtue signaling.”

“We strive for inclusion, equality and quite simply, in doing what’s right. If you disagree with our values, you’re welcome to close your account,” Halifax tweeted in response.

A Halifax spokesperson told Insider in an email: “We want to create a safe and accepting environment that opens the conversation around gender identity. We care about our customers’ and colleagues’ individual preferences so, for us, it’s a very simple solution to accidental misgendering.”

The spokesperson told Insider that having pronouns on the badge is optional for staff. 

HSBC bank, which launched a similar initiative in January, tweeted in support of Halifax: “We stand with and support any bank or organization that joins us in taking this positive step forward for equality and inclusion. It’s vital that everyone can be themselves in the workplace.” 

Read the original article on

Source:: Businessinsider

By ZEN SOO

HONG KONG (AP) — Chinese leader Xi Jinping arrived Thursday in Hong Kong to celebrate the 25th anniversary of the British handover of a city that his rule has transformed from a global hub known for its political freedoms to one that is much more tightly controlled by the Communist Party.

In a staged event carried live on Chinese TV, students and others lined the platform of a high-speed rail station and packed a red carpet to greet the leader making his first trip outside of mainland China in nearly 2 ½ years — a choice that underscored Hong Kong’s ever-closer ties to the mainland. Waving small red Chinese and Hong Kong flags, the students chanted “Welcome, welcome! Warm welcome!” while city leader Carrie Lam greeted Xi and his wife, Peng Liyuan.

Under Xi’s leadership, China has reshaped Hong Kong, cracking down on protests, imposing a strict national security law used to silence dissent, introducing a more “patriotic” curriculum in schools, and revamping election laws to keep opposition politicians out of the city’s Legislature. The changes have all but eliminated dissenting voices in a place once known for its vibrant political debate and have driven many to leave.

In its view, China’s ruling Communist Party has restored stability to a city that was wracked with pro-democracy protests in 2019. For many in the U.S., the U.K. and other democratic nations, Xi has undermined the freedoms and way of life that distinguished the city from mainland China and made it a international center for finance and trade.

In an apparent reference to the 2019 protests, Xi told well-wishers on his arrival that Hong Kong has overcome many challenges over the years and had been “reborn from the ashes” with “vigorous vitality.” Later after meeting with Lam, he praised her for ending what he …read more

Source:: The Denver Post

With the stroke of midnight, even before Thursday’s 6 p.m. start of NBA free agency, the Miami Heat got a value portion of the process out of the way.

As Wednesday turned to Thursday, the 2022-23 salaries of guards Max Strus and Gabe Vincent, as well as the salary of center Omer Yurtseven, became guaranteed.

That locked in $5.4 million in payroll for three players who all could emerge as rotation elements for Erik Spoelstra next season. Strus and Vincent will earn $1.8 million in the final year on their contracts, with Yurtseven to earn $1.75 million.

All three will become free agents in the 2023 offseason, each with Bird Rights, allowing the Heat to exceed the salary cap to retain them.

As is typical with many options and guaranteed deadlines, no action was required by either side to maintain the status quo.

The only remaining guarantee deadline for the Heat is Friday, when forward Haywood Highsmith is due the first $50,000 of his $2 million 2022-23 salary. Highsmith’s salary then becomes guaranteed for $400,000 if he is with the team on opening night and $700,000 if he is on the roster December 1. His full salary guarantees at the league-wide guarantee deadline in January.

Haywood is working with the Heat’s summer-league roster, with his first action expected Saturday, when the Heat face a similar team of draft picks, free agents, young players and prospects from the Los Angeles Lakers in San Francisco at Chase Center, home of the Golden State Warriors. He will be joined by Yurtseven when the Heat move on to the Las Vegas Summer League, with Yurtseven currently working with Turkey’s national team.

The contracts of Strus, Vincent, Yurtseven and Haywood are typical of the two-year deals the Heat extend to prospects that offer a trial period before guarantees kick in. Such deals …read more

Source:: The Denver Post

Automation at the Long Beach Container Terminal and the Port of Los Angeles’ TraPac terminal has eliminated 535,848 hours and $41.8 million in wages annually for dockworkers, even as production at ports that are automated is typically lower than at those that aren’t, according to a new study.

The ports of LA and Long Beach, the two busiest in the nation, are also not fulfilling their legal mandate to provide economic and environmental benefits for Californians, according to that 130-page report, which came out Thursday, June 30, and takes aim at foreign shipping companies and defends dockworkers against increasing terminal automation.

The report, nearly three years in the making, was underwritten by a grant from the International Longshore and Warehouse Union, Coast Longshore Division.

The timing of the study’s publication is conspicuous, as the union and the Pacific Maritime Association are currently negotiating a new contract — with the existing one set to expire on Friday, July 1.

The union-funded study also comes more than a month after a PMA-sponsored study touted the benefits of automation.

The Port of Los Angeles declined to comment. PMA also declined to comment, citing an agreement to refrain from making any related public comments during contract negotiations.

But Mario Cordero, executive director of the Port of Long Beach, defended his port’s benefit to the community.

“The ports have a role in furthering public and community benefits,” Cordero said in a statement, “and I believe the Port of Long Beach is a model of that very stance.”

The Economic Roundtable, a nonprofit research group that has been active in L.A. County since the early 1990s, compiled the report, titled, “Someone Else’s Ocean: Shipping and Jobs in the San Pedro Bay.”

Despite the longshore union providing a grant to pay for the study, one of its co-authors, Daniel Flaming, said the report was objective.

“It’s …read more

Source:: Los Angeles Daily News

Fireworks explode over the Rose Bowl during the 95th Annual AmericaFest in Pasadena, CA, on Sunday, July 4, 2021. (Photo by Trevor Stamp, Contributing Photographer)

Here is a sampling of things to do in-person and online in the San Fernando Valley and Los Angeles area, June 30 to July 7.

EVENTS

Star Spangled Rock ‘N Country Jam and Fireworks Celebration in Simi Valley: Event includes music, a kid’s fun zone, beer and wine garden, food booths and arts and crafts vendors. Doors open at noon. Fireworks, 9 p.m. July 2. Free admission or VIP admission, $80 and $40 ages 12 and younger (more information and to purchase here: starspangledsimi.com/vip-tickets). Entertainment line-up: bit.ly/3Oh4O0T. Bring a blanket or lawn chair for seating. Event is sponsored by Kiwanis Club of Simi Valley, the City of Simi Valley and Rancho Simi Recreation and Park District. Parking: Simi Valley Metrolink Station, 5050 E. Los Angeles Ave., or Simi Valley High School, 5400 Cochran St. (shuttle runs, 10 a.m.-11 p.m.). Rancho Santa Susana Community Park, 5005 E. Los Angeles Ave. 805-587-5100. Flyer: simi-valley.kiwanisone.org. starspangledsimi.com

Red, White and Lights – Laser Show Fourth of July Celebration in San Fernando: Event includes music by Tina Michelle and the Rhinestone Cowboys with line dancing demonstrations, family activities and carnival games, artisan and food trucks vendors, 6-9:30 p.m. July 2. Downtown San Fernando Mall. 818-898-1290. ci.san-fernando.ca.us/sfrecreation/#fourth-of-july-celebration

Third of July Fireworks Extravaganza in Moorpark: Gates open, 4 p.m. Concerts, 5 (the band Decadent Decades) and 7:30 p.m. (the Smokin’ Cobras). Flag presentation, 7 p.m. Fireworks, 9 p.m. July 3. Bring a blanket or low-back lawn chair and picnic dinner. Food court. Admission, $8, in advance (free for babies under one year); $10 at the door (cash only). Limited parking at the park; $5 for parking (must be purchased in advance and …read more

Source:: Los Angeles Daily News

Thursday’s forecast calls for a high of 86 degrees and a likely chance of showers after 3 p.m.

According to the National Weather Service, there is about a 50% chance of rain on Thursday before midnight.

Wind could gust as high as 21 mph and temperatures are expected to drop to an overnight low of 59 degrees.

A rainy end to the week is in store, with heavy precipitation expected throughout Colorado — particularly in the high country.

The National Weather Service doesn’t expect temperatures to exceed the 80s. A gradual warming is projected to occur going into Monday.

A Hazardous Weather Outlook has been issued by the weather service for Thursday through Wednesday as a result of the expected storms.

According to the National Weather Service, “a tropical disturbance moving onshore of the Texas Gulf Coast will bring heavy rainfall and a threat of flash and urban flooding from the Corpus Christi to Houston vicinity Thursday. A flash flood threat will exist Thursday as monsoonal moisture increases over the Southwest into the eastern Great Basin. Strong thunderstorms may impact a areas from the central Plains into the Upper Midwest.”

The residual effects are expected to make for stormy conditions throughout the Denver Metro area from Thursday and into Monday.

…read more

Source:: The Denver Post

Warren Buffett.

AP Images

Elon Musk dismissed BYD as a Tesla rival in 2011, ridiculing the design and quality of its vehicles.
Warren Buffett’s Berkshire Hathaway has made a nearly 40-fold gain on the Chinese automaker’s stock.
Berkshire spent $232 million in 2008 for a stake valued at more than $9 billion today.

Elon Musk laughed out loud at BYD in 2011, three years after Warren Buffett’s Berkshire Hathaway invested in the Chinese electric-vehicle company. Buffett may be the one chuckling now: Berkshire has notched an almost 40-fold gain on its wager so far.

“Have you seen their car?” Musk asked derisively in a Bloomberg interview. “I don’t think they have a great product. I don’t think it’s particularly attractive, the technology is not very strong,” he continued, adding that the company was in deep trouble in China and focused on staying in business there.

BYD has clearly defied the Tesla CEO’s expectations. Its revenues mushroomed by almost 10-fold to 211 billion Chinese yuan ($32 billion) between 2008 and 2021, helping to triple its net income to 3 billion yuan ($450 million) last year.

Moreover, the company’s sales of electric and hybrid vehicles soared by 250% to a record 114,000 units in May, lifting its cumulative unit sales past the 2 million mark.

For comparison, Tesla generated nearly $54 billion in revenue and $5.5 billion in net income last year, and produced and delivered more than 300,000 vehicles last quarter.

Berkshire spent $232 million to buy 225 million of BYD’s Hong Kong-listed shares in 2008. BYD’s stock price has soared from the yuan equivalent of $1 to $40 since then, boosting the value of Berkshire’s 7.7% stake to over $9 billion today.

BYD has benefited from the intense hype around electric-vehicle companies such as Tesla and Rivian during the pandemic. Investors have …read more

Source:: Businessinsider

Free Fourth of July fun

Saturday-Sunday. In honor of the July 4th weekend, Denver’s historic Larimer Square is hosting two days of free music, face painting, chalk art, caricature artists, a scavenger hunt and more. The scavenger hunt will feature $100 gift cards to Larimer Square stores and restaurants like Cotopaxi, Bistro Vendome, Corridor 44, B-Fresh and Bao Brewhouse.

Events run 4-8 p.m. on Saturday, July 2, and 11 a.m.-5 p.m. Sunday, July 3. Visit larimersquare.com/events/independence-day for the full schedule. 1430 Larimer St.

And for The Denver Post’s Fireworks Guide, which includes updates on dozens of Fourth of July shows this weekend from Littleton to Lafayette and everything in between, visit dpo.st/3xWAyBy. — Jonathan Shikes

A scene from the Cherry Creek Arts Festival past, in its usual location on the Streets of Cherry Creek North. (Provided by the Cherry Creek Arts Festival)
An arty party in Cherry Creek

Friday-Sunday. Browse to your heart’s delight — and maybe even pick up something new — as the Cherry Creek Arts Festival returns to its namesake neighborhood with more than 250 national and international artists, music, performing artists, food, interactive art experiences and activities for the kids.

This year’s juried artists will showcase diverse media, including painting, photography, ceramics, drawing, glass, metalworks, jewelry, wood, fiber, digital art, printmaking, and sculpture. And the admission for browsing, people watching and community sun-strolling? That’s free.

Takes place 10 a.m.-8 p.m. on Friday, July 1, and Saturday, July 2, and 10 a.m.-6 p.m. Sunday, July 3. Located at 2nd and 3rd avenues between Clayton and Steele streets, and between 2nd and 3rd avenues from Detroit to Steele streets. cherrycreekartsfestival.org — Jonathan Shikes

The fight against beerflation

Begins Friday. Inflation got you down? River North Brewery is doing its part to fight back with $5 beers through the summer. …read more

Source:: The Denver Post

Steve Bannon.

Kevin Dietsch/Getty Images

Steve Bannon was charged with contempt of Congress for refusing to testify before the Jan. 6 committee.
In a Wednesday filing, his lawyers asked for the trial to be delayed until long after the  hearings.
His lawyers say the “media blitz” of the hearings would prejudice his trial.

The former Trump advisor Steve Bannon is asking for his contempt-of-Congress trial to be delayed because the coverage of the January 6 hearings were too public and could prejudice his case.

A federal grand jury indicted Bannon in November 2021 on two counts of contempt of Congress after he refused to comply with a subpoena from the House committee investigating the Capitol riot.

Bannon pleaded not guilty, saying that issues of former President Donald Trump’s executive privilege over materials relating to the committee needed to be resolved first.

In a Wednesday court filing, Bannon’s lawyers argued that the coverage of the committee’s hearings — and what they called the subsequent “media blitz” — warrants a delay to his trial. 

They asked for the delay “due to the unprecedented level of prejudicial pretrial publicity” generated by the hearings, the filing said.

With Bannon’s trial date set for July 18, there is a possibility that Bannon’s trial and the committee hearings themselves will happen in close sequence. 

A week ago, the committee announced it would extend its timetable to accommodate the July 4 holiday, with the earliest return date being July 11, NPR reported. 

“When trial was scheduled, neither the Court nor the parties were aware of the June and upcoming July media blitz by the Select Committee,” Bannon’s lawyers, Evan Corcoran, David Schoen, and Robert Costello, argued. 

Asking for the trial date to be moved to mid-October, they argued that Bannon’s verdict should come from “evidence presented at trial, not on ‘evidence’ or ‘findings’ presented …read more

Source:: Businessinsider

Thousands streamed into downtown Baltimore as Beatles legend Paul McCartney’s voice echoed through Oriole Park at Camden Yards earlier this month. The English invasion will continue in a few weeks as internationally popular soccer teams Arsenal and Everton play at M&T Bank Stadium, again attracting excitement, attention — and revenue.

The state of Maryland owns the stadiums, and it has agreements with its tenants, the Orioles and the Ravens, on divvying up the proceeds from special events. However, the Maryland Stadium Authority has granted requests from the privately owned teams that keep it from maximizing its revenue this summer, forfeiting potentially hundreds of thousands of dollars.

While some people, including the state’s treasurer, have challenged those decisions, the stadium authority says it’s making calculated calls with an eye to the future.

In the case of the July 16 soccer match, the stadium authority will give $150,000 of its tax revenue to the Ravens.

For the June 12 McCartney show, the total the stadium authority chose to give up is murkier. Not only did the stadium authority approve in May the Orioles’ request to keep all the revenue, it did so without estimating the amount at stake. And it did the same in 2019, when the Orioles asked to retain all revenue from the stadium’s first full-fledged concert, a sold-out Billy Joel show.

Maryland Treasurer Dereck Davis, a Democrat and former member of the House of Delegates, told The Baltimore Sun that the stadium authority isn’t acting in taxpayers’ best interest.

“They seem to believe that they exist for the benefit of private entities, is the only thing I can think. And now I’m seriously considering … requesting legislation that would take that authority away,” he said. “This is clear: they’re being callous and reckless …read more

Source:: The Denver Post

The sign above an Amazon Fresh store in Washington, DC

Nicholas Kamm/AFP via Getty Images

Amazon has new data tracking in its physical grocery stores to mine data on shoppers’ habits.
The company announced its Store Analytics, which will offer brands aggregated data, in a blog post.
It will include logs on how many shoppers put a product back instead of purchasing it in-store.

Amazon has launched a new data tracking program for its physical grocery stores to mine data on shoppers’ behavior, the company announced in a blog post on Wednesday. 

Store Insights, rolled out to all Amazon Go and Amazon Fresh stores with the Dash Cart or Just Walk Out technology in the US, will feed data back to brands on shoppers’ interests – similar to data collection on e-commerce sites. The data collection and analytics aims to provide brands insights and feedback on their promotions and advertising strategies, the company said.

Individual or disaggregated data will not be shared and customers are able to opt out of the service on the Store Insights website, according to Amazon. Data will be “stored in a secure zone in the cloud,” the blog post said.

Data tracked by the site will include how often products are taken off shelves and subsequently purchased either during the same store visit, or later on Amazon’s website.

Amazon’s cashierless stores themselves operate through a complex system of shopper surveillance, including AI-powered cameras that follow shoppers and weight sensors on carts. Amazon has made major investments in its cashierless stores in the US and has plans for global expansion in 2022 and 2023, according to internal documents seen by Insider. 

But Amazon has also come up against privacy scandals in the past. The company’s delivery van surveillance cameras closely monitor workers down to their hand movements and facial expressions, …read more

Source:: Businessinsider

Brazilian President Jair Bolsonaro.

Eraldo Peres/Associated Press

Tucker Carlson previewed an interview with Brazil’s far-right president, Jair Bolsonaro.
Carlson said it showed Bolsonaro “bears no resemblance whatsoever” to how he is shown in Western media.
Bolsonaro, a Trump ally, has weakened environmental protections and spread conspiracy theories.

Fox News host Tucker Carlson previewed an interview with Brazilian President Jair Bolsonaro, saying the far-right leader is completely different to the way he has been portrayed in Western media.

Carlson previewed the interview on his Wednesday show, airing a clip of him sitting down with Bolsonaro. When the clip ended, he said on his show that it was an “amazing interview.”

“This will shock you,” Carlson said. “Bolsonaro bears no resemblance whatsoever to the descriptions of Bolsonaro you have read in The New York Times. Completely different person. Seen that before?”

When interviewing Bolsonaro, Carlson said the parallels between US and Brazilian politics were “striking to an American.”

He asked Bolsonaro, who is running for reelection in October: “You are opposed by a coalition of billionaires, college professors, and CNN. Tell us what the opposition wants. What will Brazil look like if your opponent wins?”

Bolsonaro responded by claiming the media “never gave me any visibility or space” and constantly attacked him, and said without giving specifics that Brazil would end up like Venezuela — which is currently ruled by a socialist government — if left-wing politicians got into power in his country.

“All of South America will be colored red, if you understand me. And in my view, the United States will become virtually an isolated country in the world.””

Bolsonaro, who has been president of Brazil since 2019 and is an ally of former President Donald Trump, has weakened environmental protections, including the destruction of the Amazon rainforest and reallocating land

Source:: Businessinsider

Passenger lines at Heathrow in early June. The global airline industry struggles to cope with summer travel demand.

Carl Court/Getty Images.

Heathrow airport asked airlines to cancel flights on Thursday over concerns safety concerns. 
The hub said it is expecting higher passenger numbers than it has capacity to serve.
Cancellations at other airports have contributed to the problem, a spokesperson told Insider. 

Heathrow, the UK’s largest airport, asked airlines to cut flights on Thursday over concerns that it does not have the capacity to handle surging passenger numbers.

On Wednesday evening, Heathrow asked airlines to cut 30 flights set to depart on Thursday morning, citing safety concerns. 

“We are expecting higher passenger numbers in today’s morning peak than the airport currently has capacity to serve, and so to keep everyone safe we have asked airlines to remove 30 flights from the morning peak for today only,” a Heathrow spokesperson said in a statement. 

Although 98% of flights are anticipated to take off as planned, some affected passengers claimed that they didn’t find out until they arrived at the airport on Thursday morning, per Bloomberg. 

The subsequent queues and delays mean further misery for passengers as the global airline industry struggles to cope with summer travel demand. 

Long-running shortages of pilots, baggage handlers, and customer service workers, exacerbated by the fact that many were let go during the pandemic, has left many operators and hubs short of capacity at a time when pent-up travel demand reaches its peak.

The result has been a spate of flight cancellations and delays as executives readjust their flight plans to minimize the disruption. 

A spokesperson told Insider that Thursday’s passenger numbers were anticipated to be 13% higher than the previous week, which had “stretched resourcing across the airport.” 

The spokesperson told Insider that that the increase had been caused by a spike in last-minute …read more

Source:: Businessinsider

Grayscale filed to convert its Bitcoin Trust fund into an ETF in October.

Photo by Spencer Platt/Getty Images

Grayscale is suing the Securities and Exchange Commission after the US regulator rejected its spot bitcoin ETF bid.
The SEC said Wednesday the crypto investment firm had failed to answer questions on market manipulation.
Grayscale filed its bitcoin ETF application in October 2021 but it has faced multiple delays.

Grayscale Investments has announced its intention to sue the Securities and Exchange Commission after the US regulator rejected its proposal to list a spot bitcoin ETF.

Just an hour after the SEC rejected Grayscale’s ETF bid, the digital asset manager announced it had started the litigation process to appeal the decision by filing a petition with the US Court of Appeals.

“Today, we received notice that our application to convert GBTC to a spot ETF was denied by the SEC,” Grayscale, that manages the world’s largest bitcoin fund, said in a statement Thursday. “We are deeply disappointed by and do not agree with its decision.”

An ETF, or exchange-traded fund, is an investment sector that tracks a specific sector, asset class, or theme. In October 2021, Grayscale applied to convert its Grayscale Bitcoin Trust ETF (GBTC) into a fund that would track the spot price of bitcoin.

While the SEC is yet to approve a spot bitcoin ETF, they’ve previously allowed ETFs that track bitcoin future contracts to list on US exchanges. Grayscale’s lawyers said this was an inconsistent approach to regulation of the crypto sector.

“The SEC is failing to apply consistent treatment to bitcoin investment vehicles as evidenced by its denial of GBTC’s application for conversion to a spot ETF, but approval of several bitcoin futures ETFs,” they said.

The SEC said in its Wednesday filing that it had rejected Grayscale’s bid because the investment manager had …read more

Source:: Businessinsider