Top Stories This Week
– Grayscale files for new spot Bitcoin ETF on NYSE Arca
– New York Attorney General sues Gemini, Genesis, DGC for allegedly defrauding investors
– Former FTX engineering director faces up to 75 years in prison following guilty plea
– Binance shutting down European Visa debit card in December
– Elon Musk, Mark Cuban team up to contest SEC trial strategies
– Winners and Losers: Bitcoin, Ether, XRP
Grayscale files for new spot Bitcoin ETF on NYSE Arca
– Grayscale Investments has filed a new application with the U.S. Securities and Exchange Commission for a new spot Bitcoin exchange-traded fund (ETF). The filing aligns with Grayscale’s effort to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF.
New York Attorney General sues Gemini, Genesis, DGC for allegedly defrauding investors
– New York’s attorney general has filed a lawsuit against cryptocurrency firms Gemini, Genesis, and Digital Currency Group (DCG) for allegedly defrauding investors through the Gemini Earn investment program. The suit claims that Genesis’ financials were risky and accuses Genesis’ former CEO and its parent company’s CEO of concealing losses.
Former FTX engineering director faces up to 75 years in prison following guilty plea
– Nishad Singh, the former engineering director at crypto exchange FTX, faces up to 75 years in prison for charges related to defrauding users of the exchange. He pleaded guilty to fraud charges and testified about liquidity issues at FTX and alleged inconsistencies between the exchange’s public statements and its activities.
Binance shutting down European Visa debit card in December
– Binance Visa debit card services will close down in the European Economic Area in December. This announcement comes after the exchange restored euro deposits and withdrawals that had been unavailable for a month.
Elon Musk, Mark Cuban team up to contest SEC trial strategies
– Elon Musk, Mark Cuban, and others have submitted a shared amicus brief to the Supreme Court of the United States to raise concerns about the SEC’s approach to conducting internal proceedings without the inclusion of juries.
Winners and Losers
– Bitcoin (BTC) is at $29,590, Ether (ETH) at $1,607, and XRP at $0.52. Among the top 100 cryptocurrencies, the top three altcoin gainers of the week are Bitcoin SV (BSV), Stacks (STX), and MX TOKEN (MX). The top three altcoin losers of the week are Conflux (CFX), Frax Share (FXS), and Sui (SUI).
Most Memorable Quotations
– “We are all part of a bigger game, and Bitcoin is one of the strongest levers in that.” – Edward Snowden, technologist and whistleblower
– “Using publicly available information to learn is not stealing.” – Google
– “I felt betrayed, something I’d put in blood, sweat, and tears for five years turning out so horrible.” – Nishad Singh, former engineering director of FTX
– “The games funded 2 years ago are going live over the next 12 months. We will see hits.” – Robbie Ferguson, co-founder, and president of Immutable
– “After extensive DAO forum discussion followed by a community vote, the sunsetting of the Lido on Solana protocol was approved by Lido token holders.” – Lido Finance
Prediction of the Week
– BTC price hits 2-month high amid bet Bitcoin will break $32K soon.
FUD of the Week
– California files order against Nexo; Fantom Foundation hot wallet hacked for $550K; TrueCoin’s third-party vendor breach potentially leaks TUSD user data; Web3 game project allegedly hired actors in $1.6M exit scam.
Big Questions: What did Satoshi Nakamoto think about ZK-proofs?
– Zero-knowledge-proof technology is now a major part of the crypto world, but what did Bitcoin inventor Satoshi Nakamoto think about it?
Ethereum restaking: Blockchain innovation or dangerous house of cards?
– Restaking involves reusing staked Ether to earn fees and rewards, but many fear it could disrupt Ethereum’s chain itself.
Bitmain’s revenge, Hong Kong’s crypto rollercoaster: Asia Express
– Bitmain allegedly fires staff for speaking out against salary cuts; Hong Kong investors lose faith in crypto after JPEX scandal; Bitget gets a new crypto credit card and more.
Cointelegraph Magazine writers and reporters contributed to this article.