BTC is currently trading around $70,900 and ETH around $3,550. Notable gainers in the last 24 hours are DOGE, FLOKI, and AGIX. The global crypto market cap is $2.79T, up 2.5% over the last day. DeFi Total Value Locked is ~$99b and BTC dominance is around 54%.
Sam Bankman-Fried, the founder of collapsed cryptocurrency exchange FTX, received a 25-year prison sentence today. SBF was found guilty on seven counts of fraud last year related to stealing FTX customer money and lying to investors and creditors. During sentencing, Judge Kaplan stated that SBF “will be in a position to do something very bad in the future” and chided SBF for not showing remorse. While not admitting fault, SBF did apologize for the collapse of FTX and his defense team vowed to appeal both the conviction and the sentence.
Notable news includes: The Financial Action Task Force stated that fewer than 30% of jurisdictions globally have started regulating crypto; Indonesia announced it will transition crypto industry supervision to the Financial Services Authority and require crypto firms to undergo evaluation in a regulatory sandbox prior to licensing; the US and UK are investigating $20b of USDT that passed through sanctioned Russian exchange Garantex; KuCoin announced a $10m airdrop for customers amidst charges filed by the US Department of Justice; Google expanded its search engine capabilities to include more blockchain data from more networks; tokenized US Treasuries on public blockchains surpassed $1b in AUM; BlackRock’s new tokenized fund BUIDL attracted $240m in one week; Fidelity registered for a spot Ethereum ETF; blob fees on Ethereum spiked yesterday due to the introduction of BlobScriptions; blockchain-based game Big Time generated over $100m in revenue; and, Mantle launched a new Mantle Rewards Station.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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