This week in the cryptocurrency world, there were several notable events and developments. Bitcoin experienced a surge in price, reaching $30,000 after rumors spread on social media about the US SEC approving BlackRock’s Bitcoin ETF application. However, Sui faced difficulties as its price hit an all-time low. Additionally, the blockchain startup Securrency Inc. was acquired by the Depository Trust & Clearing Corporation in a deal worth around $50 million.
The case against FTX founder Sam Bankman-Fried continued, with the prosecution revealing incriminating Twitter messages from Bankman-Fried. The former head of engineering claimed that the exchange paid $1.13 billion in endorsement deals. A detailed analysis of FTX and Alameda Research’s financial past was conducted by a professor from the University of Notre Dame. Furthermore, it was revealed that the FTX bankruptcy estate staked over SOL 5.5 million, valued at $122 million. Customers of FTX and FTX.US may also be able to reclaim more than 90% of their assets under an amended proposal.
In other news, Trezor launched new products, including a limited-edition Bitcoin wallet that quickly sold out. Ryder, a company, raised $1.2 million and announced the Ryder One hardware wallet, which features a recovery system designed to replace the seed-phrase process. OMA3 formed a working group to establish standardized creator royalties on NFT marketplaces, while WAX’s NFT game Brawlers was launched on Epic Games Store. Bandai Namco suspended downloads of Gundam Metaverse due to rumors of a major leak. Additionally, despite the bear market, a report found that Web3 gaming continued to attract investor attention.
Within the United States, California Governor Gavin Newsom approved a crypto licensing bill set to take effect in July 2025. The New York Attorney General filed a complaint against Gemini, Genesis, and DCG. The US Treasury imposed sanctions on a crypto exchange in Gaza over its involvement in Hamas fundraising. SEC Chairman Gary Gensler mentioned that the staff is working on multiple Bitcoin ETF filings. Matrixport predicted that BTC could reach $42,000 if the BlackRock Bitcoin ETF gets approved. Cathie Wood blamed Gary Gensler for hindering spot Bitcoin ETFs, rather than the SEC. Edward Snowden spoke at the 2023 Bitcoin Conference, discussing the risks of Bitcoin ETFs and other related topics.
Internationally, Russia’s Sber announced its participation in the Central Bank’s digital ruble pilot. Major businesses in Japan urged the government to implement crypto tax reforms. South Korea planned to establish comprehensive guidelines for the issuance and distribution of cryptocurrencies. South Korean prosecutors requested the death penalty for four suspects involved in a crypto murder-kidnap case. Israel froze hundreds of crypto accounts and seized millions in crypto to prevent funds from flowing to Hamas. Tether also froze 32 addresses related to events in Israel and Ukraine, totaling $870,000.
Meanwhile, Coinbase selected Ireland as its main European hub due to regulatory pressure in the US. Bitpanda obtained a license to offer virtual asset services in Norway. Upbit received in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore. The general manager of Binance France decided to step down from her position after a year and a half.
In the midst of all these happenings, several cryptocurrency-related memes and jokes circulated on social media, providing some light-hearted entertainment.