CRYPTO POLICY

The upsurge, which saw ETH trade in the green zone above the $1,900 price level, signals the continuous momentum in the crypto market as it enters the second week of a bull run.

Grayscale Chief Legal Officer Craig Salm has also said financial giants like BlackRock and Fidelity are making progress with their spot Bitcoin ETF applications.

While the SEC has remained mum about the development surrounding the spot Bitcoin ETF applications, Bloomberg Intelligence analysts maintained their previous prediction that there is a 90% chance that the filings will be approved by Jan. 10, 2024.

Last week, Bankman-Fried was convicted on all seven charges brought against him by the U.S. government.

ETF analysts think the odds for Bitcoin ETF approvals by the end of 2023 is 75%. They said the SEC might approve multiple filings at once.

Over 100 people profited $240,000 each from the scam while 200 individuals earned approximately 120,000 each.

Rep. Steve Womack said defunding the SEC is a means to curb its regulatory overreach and help it focus on its primary mission.

The FTX estate has, by far, moved around $102 million in Solana to exchanges via a series of transactions that could impact the token and could trigger holders to dump their SOL holdings.

The recent shift in Bitcoin dominance suggests that new investors are entering the market, as it follows a long period of market downtrend.

Currently, there are 12 spot Bitcoin ETF applicants awaiting a decision from the Securities and Exchange Commission (SEC).

John Deaton made the claim in a post on X in response to Ripple Labs chief legal officer Stuart Alderoty, who said the court ruling on the SEC vs Govil case underlined that the financial regulator cannot ask for a "crippling disgorgement award without first proving that 'investors' suffered actual financial harm. In other words, no harm, no foul."

After his conviction on all seven charges, the question about the funding of SBF's legal war chest has once again surfaced, but this was already answered by a March report from Forbes, which highlighted the link between SBF's legal defense and the controversial use of Alameda Research funds.

Considering the disclosures of FTX advisors, it looks like privacy and anonymity are not at all guaranteed, particularly in centralized crypto exchange platforms like Sam Bankman-Fried's FTX.

"Sam Bankman-Fried thought that he was above the law. Today's verdict proves he was wrong," U.S. Attorney General Merrick B Garland said in a statement.

The blockchain firm announced that its native cryptocurrency XRP has been approved under the Dubai Financial Services Authority's virtual assets regime.

The SEC's enforcement action came a few months after PayPal officially launched its stablecoin dubbed PayPal USD (PYUSD).

The SEC's latest move came after Kwon and TFL's lawyers filed a motion for summary judgment with the U.S. District Court for the Southern District Of New York last week.

U.S. Assistant Attorney said SBF's ''Good Morning America'' interview was merely part of a media blitz following the collapse of his crypto empire.

USDC is the second-largest stablecoin in the market, with a supply of $25 billion.

Shin, whose assets in South Korea were frozen by authorities, distanced himself from Kwon. He is facing trial for fraud, illegal fundraising and capital market law violation.

The appearance of the ticker on DTCC's official site is considered a significant development in the progress of the Bitcoin ETF applications of several Wall Street giants.

The agenda of an upcoming closed-door meeting of the SEC was published online and suggested that the regulator may include in its Thursday meeting a review of settlement and resolution claims.

Lawyers of Kwon and Terraform Labs said the financial regulator has failed to provide evidence to support the claims made in the lawsuit.

After hours of testimony during his criminal fraud trial, Bankman-Fried stepped down from the stand, marking the conclusion of his four-day testimony.

Analysts project there is a "60% likelihood that November will be a green month for BTC."

There were also interesting revelations during the cross-examination, with Bankman-Fried admitting that he did not know Caroline Ellison would be cooperating with the government but suspected the government had a search warrant for his Google account.

The island country shared details about Project Guardian, which saw the MAS partner with numerous financial institutions to launch pilots on "asset tokenization in fixed income, foreign exchange, and asset management products."

While whales moving their Bitcoin stash is not unusual in the crypto world, Binance moving a huge amount of crypto assets does not happen every day, which is why it created a big fuzz within the community.

The announcement came just days after Kraken informed its clients that it is sending sensitive customer data to the IRS in November.