Unverified ETF, Legaled FTX, Blamed SEC and 20 Crypto Jokes

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This week in crypto: bitcoin pumped from under $28,000 to $30,000 on Monday as unverified rumors that the US SEC had approved BlackRock’s iShares spot Bitcoin ETF application hit social media, Sui faced turbulent times as its price hit all-time lows, and Depository Trust & Clearing Corporation acquired blockchain startup Securrency Inc. in a deal worth around $50 million.

The case against disgraced FTX founder Sam Bankman-Fried continued: the prosecution revealed telling Twitter messages from Bankman-Fried, the former head of engineering said that the exchange paid $1.13 billion in endorsement deals, the University of Notre Dame accounting professor revealed the results of a detailed analysis of FTX and Alameda Research’s financial past, the FTX bankruptcy estate staked over SOL 5.5 million valued at $122 million, and customers of FTX and FTX.US may reclaim more than 90% of their assets as part of an amended proposal.

Meanwhile, Trezor launched two new products and a limited-edition Bitcoin wallet that sold out in a day, and Ryder closed a $1.2 million raise while also announcing the Ryder One hardware wallet featuring a recovery system designed to replace the seed-phrase process. OMA3 formed a working group to find the best way to standardize creator royalties on NFT marketplaces, WAX’s NFT game Brawlers launched on Fortnite’s home Epic Games Store, Bandai Namco suspended downloads of Gundam Metaverse amid rumors of a major leak, and a report found that Web3 gaming continued to garner investor attention despite the bear market.

In the US, California Governor Gavin Newsom approved a crypto licensing bill that is set to take effect in July 2025, the New York Attorney General filed a complaint against Gemini, Genesis, and DCG, the Treasury imposed sanctions on a crypto exchange in Gaza involved in Hamas fundraising, SEC Chairman Gary Gensler said that the staff is working on multiple Bitcoin ETF filings, Matrixport predicted that BTC could hit $42,000 if the BlackRock Bitcoin ETF is approved, and Cathie Wood blamed Gary Gensler for obstructing spot Bitcoin ETFs, not the SEC. Speaking of which, Edward Snowden spoke at the 2023 Bitcoin Conference about the risks of Bitcoin ETFs, among other topics.

Elsewhere, Russia’s Sber said it would join the Central Bank’s digital ruble pilot, some of Japan’s biggest businesses asked the nation’s government to make crypto tax reforms, South Korea was looking to establish comprehensive guidelines for the issuance and distribution of cryptocurrencies, South Korean prosecutors requested the death penalty for four suspects in a crypto murder-kidnap case, Israel ordered a freeze on hundreds of crypto accounts and seized millions in crypto to block the flow of funds to Hamas, and Tether froze 32 addresses related to events in Israel and Ukraine amounting to $870,000.

As that was happening, Coinbase chose Ireland for its main European hub as regulatory pressure in the US continued, Bitpanda secured a license to offer virtual asset services in Norway, Upbit got an in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore, and Binance France’s general manager decided to step down from her role after a year and six months.

Let’s joke!

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First of all, GM <3

One more time for those in the back: GM!