While FTX and SBF, respectively, continue to appear in court, former executives of the defunct crypto trading group have started to pop up elsewhere.
Amy Wu, who was previously an executive at FTX Ventures, has since joined Menlo Ventures, a mainstay of Silicon Valley’s venture capital ecosystem. Brett Harrison, who led FTX US before resigning two months prior to the collapse, is banking on the AI hype train and has since founded a startup that plans to build a trading algorithm around GPT-4.
Zhe “Constance” Wang – the former Chief Operating Officer of FTX – allegedly left for China shortly after FTX imploded and has since been hired by Sino Global Capital, a China-based crypto investment fund.
New Position in Line With Previous Experience
For the past four and a half

Several traditional media outlets reported recently that Binance, the world’s largest crypto exchange, has or will have to dismiss thousands of employees in the wake of its legal battle with US regulators.
The company’s CEO confirmed the layoffs but disagreed with the “FUD” reported numbers of terminated staff members.
CNBC, WSJ Reports
Citing a person familiar with the matter, the Wall Street Journal claimed on Friday that Binance had already dismissed over 1,000 people as it prepares for a lengthy and costly legal fight with US regulators.
Former company workers asserted that more layoffs will follow in the upcoming weeks, with the customer support team being hit the hardest.
“As we prepare for the next major bull cycle, it has become clear that we need to focus on

The landmark decision by Judge Torres in the legal battle between Ripple and the US SEC could positively impact the entire crypto industry, said the former’s CEO, Brad Garlinghouse.
He also hopes that the ruling will serve as a wake-up call to US Congress for the upcoming regulations.
A Win for Everyone
Nearly three years after the SEC sued Ripple for allegedly selling its native cryptocurrency (XRP) as unregistered security, Judge Analisa Torres, presiding over the case, ruled earlier this week that almost all sales do not, in fact, constitute securities transactions.
This was considered a major win for the blockchain project, and the hype sent XRP flying to a 19-month peak at $0.95.
However, Ripple’s CEO believes this landmark ruling could benefit the entire industry,

The crypto market has recovered a lot of the losses sustained in 2022, with BTC rising by over 80% YTD and many altcoins performing even better. This led to questions and analysis within the community about whether the bear market is over and the industry is preparing for yet another bull cycle.
Moreover, the BTC halving is scheduled to take place in less than a year, which is typically regarded as a catalyst for upcoming price increases. However, the recent developments from the US Securities and Exchange Commission could suggest that the agency might also have a role in a potential bull market.
The SEC Impact
Being among the most powerful regulators within the world’s largest economy, the SEC’s actions frequently have a direct impact on a relatively small market like

Bitcoin dipped toward $30,000 but managed to bounce off that level and stands a few hundred dollars above it now as well.
Most altcoins are also slightly in the red today, with ADA, SOL, MATIC, and DOT dropping the most from the larger caps.
BTC Defends $30K
The primary cryptocurrency experienced enhanced volatility at the end of the business week, alongside the rest of the market, following Ripple’s landmark victory against the SEC. Following the judge’s ruling that almost all XRP sales do not constitute security transactions, BTC jumped from under $30,500 to a new 13-month peak of over $31,800.
However, it failed to keep this momentum going and retraced by several hundred dollars by Friday. Then came a more violent rejection that pushed it south to just under $30,000 for

Robert Kiyosaki, the author of several best-seller books, continues to display his support for bitcoin, gold, and silver above all other assets.
In his latest tweet on the matter, he praised the aforementioned three assets while warning that the rich will get richer in the wake of the US government’s policies.
Sticking With BTC
The largest US stock market indexes registered some gains over the week, with the Dow jumping by over 3% and the S&P 500 by just shy of that percentage. The renowned author, businessman, and entrepreneur commented on the matter, as he believes these increases are only because of the removal of the US debt ceiling.
Recall that the world’s largest economy faced a major crisis until June when President Biden signed a bill that suspended the country’s

After marking a new 13-month high yesterday at almost $32,000, bitcoin has been rejected once again and even dipped below $30,000 hours ago.
Most altcoins are also in the red today following the recent gains, except for DOGE, SHIB, OP, and a few others.
BTC Stopped
Most of the working week went by quietly for the primary cryptocurrency as the asset spent it trading sideways in a tight range between $30,000 and $31,000. All that, however, changed on Thursday evening when Judge Torres, presiding over the legal battle between Ripple and the SEC, ruled in favor of the blockchain company in regard to its native cryptocurrency.
BTC, along with the rest of the market, went on the offensive and spiked to just under $31,900 (on Bitstamp), which became the asset’s highest price tag

Arkham Intelligence, a blockchain sleuthing company in the vein of Chainalysis and others, recently announced the release of a platform to deanonymize and trade information pertaining to blockchain users, as well as the release of a new ARKM token to go with it.
Snitching as a Service
Touted as “the world’s first on-chain intelligence exchange,” Arkham Intelligence will allow users of the service to post bounties for any information on blockchain users.
“Our vision for the Intel Exchange is a decentralized intel-to-earn economy powered by smart contracts, in which any sleuth can earn based on their skills & experience. As such, all transactions on the Arkham Marketplace will take place through smart contracts audited by our partner Quantstamp.”
There are no limitations on

Brazil has been developing a CBDC for some time now. If all goes according to plan, the digital Real will be launched sometime in 2024.
Once launched, it would support retail payments for anyone inclined to use it, backing up the payment with funds in the users’ bank accounts.
Planning Ahead
The Brazilian CBDC would not, however, interfere with other payment methods common in Brazil, such as Pix.
According to a spokesman for the Brazilian government, the decision to push on with the CBDC project was taken in order to open up new avenues for technological improvement. The digital Real could also potentially reduce the cost of credit and other customer-facing financial products, allowing the banks to reach a wider customer base.
“This could reduce the cost of credit, the

With less than a year remaining until Bitcoin’s fourth ever halving, speculation has already begun on whether this one will be followed by the same or similar bull runs as the previous ones.
In-depth data shows that the asset’s price performance has been rather identical before and after the last two such events.
The Halving Effect
Upon creating the network, the anonymous developer Satoshi Nakamoto incorporated an event called the halving, which occurs every 210,000 blocks (appr. every four years) and slashes the rewards miners receive in half to slow down the speed at which new BTC is being created.
Due to basic economic factors, these events have had positive effects on the asset’s price performance, as the valuation rises, at least in theory, when the supply slows down

The United States Securities and Exchange Commission has issued a response to Coinbase’s recent filing, in which it claims that the exchange made a “calculated decision” to act as an unregistered securities intermediary.
The company filed to dismiss the SEC’s charges back in June.
The agency launched a full-on legal operation against two of the behemoths of the crypto industry in early June when it filed consecutive lawsuits against Binance (and its US affiliate) as well as Coinbase.
The latter responded swiftly by filing a request to dismiss all charges just a few weeks after the lawsuit.
In it, the exchange argued that the SEC had already greenlighted its business model back in 2021 when it allowed Coinbase to become a publicly-traded company.
The company has reiterated

Similar to previous weekends, bitcoin has calmed and failed to produce any substantial volatility in either direction during the weekend as the trading volumes have declined.
Most altcoins are with insignificant daily increases and decreases, aside from BONE, INJ, and SHIB.
BTC Stalls at $30K
After the previous calm weekend, bitcoin finally went on the offensive on Tuesday but was stopped in its tracks at just over $31,000. The subsequent rejection drove it south down to $30,200, but the bulls stepped up on the gas once more on Thursday.
This time, they managed to propel a more impressive price surge that drove BTC to $31,500, which became its highest price tag in over a year. Yet, the cryptocurrency failed there and fell even harder, this time to under $30,000.
It managed

Bitcoin went through a volatile end of the week in which it posted a new 13-month high before it slipped under $30,000 but has managed to defend that level.
The altcoins are calmer on a daily scale, aside from SOL, AVAX, LEO, ARB, and a few others, which have added some value.
BTC Defends $30K
The past weekend was quite uneventful, even though BTC went through a rollercoaster that drove it from $31,000 to $29,500 and back up to $30,500 in a matter of hours on Friday. Saturday and Sunday, though, were calm, with BTC remaining at just over $30,000.
It wasn’t until early Tuesday morning when the landscape changed, and BTC pushed above $31,000 once again. It was rejected there, but the bulls went on the offensive once again on Thursday, and this time, they managed to drive

According to US Bankruptcy Judge Sean Lane, Genesis, whose repayment plan was pending approval, will first have to resolve its outstanding issues with FTX.
The announcement came mere hours after Cameron Winklevoss’ ultimatum to DCG CEO Barry Silbert expired, meaning yet another lawsuit against Genesis’ parent company is also on the horizon. A response to said ultimatum, which would have forced DCG to stick to a repayment plan, may now be out of DCG’s control to begin with.
Awfully Optimistic
During a preliminary hearing concerning Genesis’ creditor repayment plan, Manhattan-based Bankruptcy Judge Sean Lane stated that any further hearings regarding this proposal are likely to be delayed until the firm’ legal dispute with FTX was resolved, according to Bloomberg.
“That

Spot Bitcoin exchange-traded funds (ETFs) are arguably the hottest topic in the cryptocurrency community for the past few weeks, a trend that was only solidified during the last several days.
Recall that the SEC deemed all recent filings as “inadequate” last Friday, which put a major shade on all applications on whether they will be added to the growing list of rejections made by the securities regulator.
However, all companies reacted swiftly and refiled with more “adequate” information, mostly regarding their strategies on how to tackle potential market manipulation. BlackRock was among those, as it named Coinbase as its surveillance partner.
Somewhat expectedly, these events affected BTC’s price movements. The asset slumped hard following the SEC’s warning last week

Last week, Coinbase filed to dismiss the charges brought against it by the SEC. Motivating its approach, the exchange accused the agency of overreach, stating that crypto assets may not even come under their purview.
The leading US crypto exchange also accused the SEC of ignoring prior approvals given for the sale of some of the digital assets named in its lawsuit.
Emboldened by Coinbase’s move, Bittrex has decided to follow suit.
Lawsuits and Bankruptcies
Although Bittrex is also in court due to bankruptcy procedures, the motion filing for dismissal of charges pertains to a different lawsuit, filed shortly after the company decided to leave America behind. At that point, it had already been under investigation since 2017 and had been in fruitless talks with the SEC since

Several financial giants, including Fidelity, 21Shares, and WisdomTree, have changed their filings with the Securities and Exchange Commission in regard to their applications for Bitcoin Spot ETFs.
This comes just hours after the US securities regulator reportedly warned that all recent filings for such products were “inadequate.”
BlackRock splashed the waters two weeks ago when it filed with the SEC to launch a Bitcoin Spot exchange-traded fund. While it was definitely not the first to try its luck, it was unquestionably the largest financial entity to do so.
The move was mimicked by several other notable players, including Fidelity, which copied BlackRock’s application, while Ark Invest changed its own to be the same as the world’s largest asset manager.
However, the

Bitcoin has calmed after the Friday rollercoaster that drove it up and down by over a grand and remains relatively still at $30,500.
The altcoins are also less volatile today, as it typically happens during the weekends, with SOL emerging as the most substantial gainer from the larger caps.
BTC Above $30K
Bitcoin went on a tear last week when it jumped from $26,500 to over $31,000 to register a new multi-month high. The bears tried to intervene but only managed to halt BTC’s price surge, and the asset remained stuck in a range between $30,000 and $31,000 for the past seven days or so.
That all changed on Friday following reports that the SEC could reject the most recent Bitcoin Spot ETF applications filed by the likes of BlackRock, Fidelity, and others as they supposedly

TRM Labs, a leading blockchain analysis firm focused on preventing cybercrime, has released a comprehensive report on the illicit sums lost to bad actors in the crypto space in 2022.
The figures are quite notable, especially given the declining prices and interest in the market last year.
Improved Cybersecurity Measures
In spite of the plummeting value of various digital assets due to crypto winter and the myriad collapses that accompanied it, the number of scams and thefts in the industry has not decreased significantly, at most staying in proportion to similar cases in previous years.
For instance, over $12 billion were lost to DeFi exploits in 2021. Although this figure dwarfs the $3.7 billion lost to exploits in 2022, it’s worth noting that those $12 billion represent

Kraken has been ordered to turn over sensitive user information for clients that had transactions worth in total over $20,000 over the course of a year.
The tax agency said it wants to determine whether crypto investors have been cheating on their tax reports.
The IRS filed the initial court petition in the Northern District of California earlier this year, claiming that it had previously issued summons to the exchange in 2021 that the latter ignored. The agency also said it wants to check for tax liabilities for users transacting in the aforementioned amount between 2016 and 2020.
Now, Judge Joseph Spero ordered Kraken to turn over the required information, which includes the user’s name, pseudonyms, if any, taxpayer identification number, phone number, email and physical

Bitcoin went on a short-lived roller-coaster yesterday but has reclaimed $30,000 after dumping to a 10-day low.
Yet, its dominance over the altcoins has declined a lot on a daily scale, as some, such as LTC, LDO, VET, and BSV, have shot up.
BTC’s Dump and Pump
After last week’s massive price surge, which drove bitcoin from $26,500 to over $31,000 at one point, the cryptocurrency had calmed and remained in a tighter range between $30,000 and $31,000.
It tried to overcome the latter yesterday when the bulls drove it to a daily high of $31,250. Despite failing there, it initially lost only $200 and remained above $31,000 for a few hours.
However, it all changed after a WSJ report emerged claiming that the SEC deemed the recent BTC Spot ETF filings, from the likes of BlackRock

A lot can change in the cryptocurrency industry within a week, and the waves indeed fluctuated in the past seven days. The market rejoiced recently as several multinational financial giants filed for a Bitcoin Spot ETF, but the tides could be turning now, according to a WSJ report from Friday.
Let’s unpack.
BlackRock shook the crypto market two weeks ago when it filed an application to release a BTC Spot ETF in the States, which would make it the first such product greenlighted by the SEC.
Being the world’s largest asset manager, its actions had immediate consequences as ARK Invest changed its own application to copy that of BlackRock, while Fidelity reapplied less than a week later.
That also impacted the cryptocurrency’s price trajectory as BTC skyrocketed from $26,500

The US Securities and Exchange Commission has reportedly issued a warning that the recent Bitcoin Spot ETF filings by financial giants, such as Fidelity and BlackRock, could lack comprehensive details.
The agency has a long history of rejecting such products in the States, and its current war on crypto is likely not helping.
BlackRock made the headlines a few weeks ago when it filed to launch a Bitcoin Spot ETF in the States, which, if approved, would be the first such product in the country.
The company’s record is quite spectacular, with only one proposed ETF rejected by the SEC almost a decade ago.
The move was regarded as a hugely positive development for the industry that could open the doors for others as well, and Fidelity reapplied shortly after.
However, a new

The world’s largest asset manager made a massive step towards its involvement in the cryptocurrency industry this week by filing for a Bitcoin Spot ETF with the US Securities and Exchange Commission.
With so many previous applications for such a product by other companies failing before, the community wondered whether BlackRock’s attempt seems doomed from the get-go. However, the behemoth’s success rate with the SEC has been rather unmatched so far.
History to Repeat But for Which Side?
The COVID-19 pandemic, the subsequent central bank monetary policies, and BTC’s price surge in 2020 and 2021 changed the game in a way that very few were brave enough to envision prior to that moment. Numerous institutions started looking more seriously toward the cryptocurrency industry,

Bitcoin has finally calmed and remained relatively stagnant on a daily scale at around $26,500 after the massive volatility experienced during the business week.
Most altcoins are in a similar state with insignificant daily gains or declines, aside from APT, which is up by 6% today.
BTC Stalls at $26.5K
Last weekend was quite uneventful for the primary cryptocurrency, aside from a brief pump and dump at around $26,000. As such, the asset entered the working week in a calm manner, which continued for a few more days.
The US CPI numbers from Wednesday didn’t really change that, as BTC remained in a tight range at just over $26,000. The Fed’s decision to pause its interest rate hiking policy also didn’t affect bitcoin, but only at first.
The asset dumped hard just a few hours

Do Kwon, who was recently arrested in Montenegro after evading authorities for months, claimed that he had no idea the Costa Rican passport he was traveling with was fake.
He admitted that he received the passport from an agency in Singapore.
Ever since the catastrophic collapse of the Terra ecosystem a year ago, Do Kwon, the person behind the protocol, has been blamed by many for his role. Although he claimed he was not trying to escape from the authorities, his location was unknown until recently when he was apprehended in the European country – Montenegro – while carrying a fake passport.
His time spent in a local jail has been somewhat controversial as his bail application for $400,000 was first granted before being denied and then re-approved.
Another report from days

One of the most popular on-chain crypto sleuths, going by the Twitter handle ZachXBT, said he was being sued for an article he posted last year.
The researcher said he is not wealthy, unlike the person suing him, and needs the community’s support for his defense. That support has been quite impressive so far.
ZachXBT took to Twitter yesterday evening to inform that he was being sued by “MachiBigBrother” for an article published a year ago. The story itself names Jeff Huang (Machi), who ZachXBT described as a “former Taiwanese-American musician and tech entrepreneur who embezzled 22,000 ETH from Formosa Financial in 2018.”
It goes in-depth explaining how Huang managed to defraud investors by launching “over ten failed pump and dump tokens and NFT projects.”
Huang has now

Bitcoin registered two consecutive days of price increases for the first time in a while as it pumped from under $25,000 to just shy of $27,000 within this timeframe.
ETH’s performance is rather similar, as the second-largest crypto now sits at $1,750. Most other altcoins are in the green as well.
BTC Soars to Weekly High
The SEC’s lawsuits against Binance and Coinbase took their toll on the cryptocurrency market, with BTC slumping last week to $25,400, even though it wasn’t even mentioned in the filings. Despite its instant recovery attempts to $27,400, the landscape remained grim for the past week or so.
The US CPI numbers and the subsequent decision by the Fed to pause raising the interest rates didn’t affect the asset either, at least at first. However, it all changed

After several days of depressing price movements, bitcoin finally went on the offensive and shot up by almost $2,000 in the past 24 hours to register its highest price tag since June 8.
Expectedly, this has resulted in millions of dollars worth of liquidations, with short positions representing almost 80%.
Following the SEC’s lawsuits against the two largest crypto exchanges – Binance and Coinbase – as well as the CPI numbers from Wednesday and the Fed’s pivot from its interest rate hiking policy, bitcoin’s price performance was quite underwhelming.
The asset recently charted its lowest price tag in three months. The altcoins, though, suffered even more, and the total crypto market cap had declined by $130 billion within less than two weeks at one point.
However, the bulls

There aren’t too many favorable developments within the cryptocurrency community lately. It all started last Monday when the US SEC decided to begin a legal battle against Binance and doubled down on its crackdown against large crypto exchanges by suing Coinbase the very next day as well.
Expectedly, these rather unexpected events led to massive price crashes for the majority of crypto assets. Nevertheless, many managed to recover most losses by the end of last week, but it all changed precisely seven days ago.
As Friday came to its end and Saturday approached, numerous digital assets, mostly altcoins that were mentioned in the SEC’s lawsuits for being unregistered securities, dumped by double digits during a massive weekend bloodbath.
BTC and ETH were spared to an extent,