CRYPTO

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.

Budorin, who is a cybersecurity expert and currently leads a team of over 120Hacken talents, said that even though Shiba Inu and Pepe have proven it was possible to earn big money in crypto, the get-rich-quick mindset of some investors as well as their fear of missing out often allowed them to overlook the red flags in a crypto project.

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.

Aside from its price, SOL's volume has also dropped marginally since last week, which indicates investors are reluctant to sell their Solana stash.

Ripple Swell is the flagship two-day event of the blockchain firm that centers on "discussions on topics that are most important to the finance industry today."

Over the weekend, Kusama penned a lengthy cryptic post on the Shibarium Tech Telegram channel, highlighting the intent to show to the world who the Shib Army is and what the community is capable of.

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

There is still excitement surrounding spot Bitcoin exchange-traded fund, with the world's largest crypto asset by market capitalization trading in the green zone.

While Bankman-Fried described Ellison and Trabuco as "good people," he criticized his ex-girlfriend, stating that she was "proficient in research" but lacked focus on risk management.

If Dogecoin were to be integrated into the financial system of X, it would strengthen its position as a legitimate cryptocurrency and foster mainstream adoption.

The prevailing sentiment among developers, as voiced by Prysm developer Potuz, was that "there is no way we are forking mainnet in 2023."

The SEC chairman's statement created a myriad of speculations in the cryptocurrency industry, especially among those eagerly waiting for the official rollout of the products that would be offered by Wall Street giants, including BlackRock.

By far, this is the highest rate Bitcoin's dominance has reached over the past two and a half years or since the bull market in April 2021 where it hovered within the 50%–60% range.

At the end of the hearing Thursday, Judge Lewis Kaplan compared the situation to that of someone who purchased a house with funds he robbed from a bank but did not tell his real estate lawyer where the funds really came from.

The spoof Blockworks website shows a fake breaking news report of a multimillion-dollar approvals exploit on Uniswap, a decentralized crypto exchange platform, and entices users to a fake Etherscan website to bypass approvals.

Bankman-Fried was scheduled to take the witness stand after three weeks of devastating testimony for the 31-year-old crypto wunderkind, accused of stealing billions of dollars from clients.

Though not a typical strategy, the defense's choice to have their client take the stand is perceived by many as a possible "Hail Mary" move.

Contrary to many speculations, Deaton believes that the legal battle between Ripple Labs and the SEC could be protracted and may last a year.

The public will have a preview of Bankman-Fried's team's defense strategy this week.

The Wall Street Journal published a report that claimed Hamas raised millions in crypto to fund its attacks on Israel. U.S. lawmakers, including Sen. Elizabeth Warren, used the article to demand answers from the Biden administration on the use of crypto assets by terrorist organizations.

Long-term holders are not impacted by the recent rally of Bitcoin since nearly 30% of their supply is being held at a loss, which according to the report, is high, historically.

Bankman-Fried, whose case has faced intense scrutiny due to explosive testimonies from former colleagues in recent weeks, will take the stand following the testimony of three defense witnesses.

If the government had sold the same number of Bitcoin at an average price of $35,000, it could have raked in $345,135,000, which meant it missed around $129,135,000 worth of gain.

In a court filing, Binance's lawyers argued that the Irish units of the business should not be named as defendants in the lawsuit considering that those entities are located outside of the jurisdiction of the CFTC.

Binance CEO Changpeng Zhao said, "Technical issue with a middleware service impacting withdrawals," while assuring the community that funds were safe.

BlackRock, whose spot Bitcoin ETF filing is at the center of speculations, maintained that the application in question is still within the SEC's "filing restriction period."