SBF gets 25 years in prison

Weekly Insights Report

Top Crypto Market Headlines: ?

• Bitcoin Drops Over 5% as Upbeat U.S. Factory Data Powers Dollar Index to Nearly 5-Month High - 2/4/24???
• Global crypto funds rebound with nearly $900 million in net inflows last week - 1/4/24???
• Ethena’s USDe Stablecoin Surges Past $1B Amid Rising Concerns - 28/3/24?????
• Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud - 28/3/24?????
• New BlackRock tokenized fund garners $160M in deposits in one week, adds $95M more - 27/3/24????
• Fetch.ai, Ocean Protocol and SingularityNET Unite to Create Artificial Superintelligence Alliance - 27/3/24???
• The SEC can sue Coinbase for offering unregistered securities, judge rules - 27/3/24???
• CFTC calls ETH a commodity in KuCoin complaint - 26/3/24???
• Crypto game Munchables on Blast exploited for $63M - 26/3/24????
• SEC plans to ask judge for $2 billion in fines and penalties from Ripple Labs - 25/3/24?????
• London Stock Exchange Will Start Market for Bitcoin and Ether ETNs May 28 - 25/3/24?????

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Paris Blockchain Week is around the corner, and we are delighted to host our?institutional breakfast event, with the immense pleasure of welcoming Tim Draper for an introductorykeynote and lots of other surprises! ?

Weekly Insights Report: ?

Bitcoin is trading around $66K after facing selling pressure during Asian trading hours on Tuesday. Upbeat U.S. factory data lifted the dollar index (DXY) to its highest level since mid-November. In fact, Data released on Monday showed that U.S. manufacturing activity unexpectedly picked up the pace in March, reducing the probability of a Fed rate cut in June. ?

A year and a half after the collapse of FTX, Sam Bankman-Fried (SBF) was sentenced to 25 years in prison for defrauding customers, lenders, and investors. Presiding over the case, Judge Kaplan said SBF lost investors $1.7 billion, lenders $1.3 billion, and customers $8 billion, amounting to $11 billion in losses. SBF was also found guilty of witness tampering and 3 counts of perjury, including lying about not knowing that he was spending customer funds ahead of Fall 2022. ?

Coinbase will have to face SEC's lawsuit, per court ruling. On March 27, a federal judge ruled that the SEC's lawsuit against Coinbase, originally filed on 6/6/23 alleging Coinbase engaged in unregistered securities offerings over its handling of 12 specified tokens, will move forward. Specifically, the SEC's complaint alleged that Coinbase operates an unregistered securities exchange, broker, and clearing agency, and also that its staking program itself is an unregistered security. Coinbase had filed a motion to dismiss the charges in August 2023, claiming the identified tokens specified in the complaint are not "investment contracts" and that the subject matter of the suit "falls outside of the agency's delegated authority." ?

BlackRock's first tokenized investment fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), attracted $160 million in inflows within the first week of its launch, boosted by contributions from Ondo Finance, a tokenized real-world asset platform. The fund invests in U.S. Treasury bills, repurchase agreements, and cash and provides dividends to qualified investors in the form of tokens representing U.S. dollar yield. ?

US federal prosecutors have charged crypto exchange KuCoin and its founders with alleged violations of anti-money laundering laws. The exchange reportedly operated in the US without running an anti-money laundering program or registering with US government entities. It is said to be involved in the money transmission business and has over 30 million customers. ?

On a weekly basis, BTC is up by 6% and ETH is up by 5.5%. ?

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The Week Ahead: ?

Monday April 01 2024

• ISM Manufacturing PMI MAR??????

Tuesday April 02 2024

• JOLTs Job Openings FEB?????

Wednesday April 03 2024

• Inflation Rate YoY Flash MAR?????
• Fed Chair Powell Speech ?????

Friday April 05 2024??

• Unemployment Rate MAR?????

Other Major Crypto Headlines:? ?

• Crypto Exchange KuCoin Violated Anti-Money Laundering Laws, U.S. Charges -?26/3/24???
• Solana welcomes Circle’s cross-chain transfer protocol -?26/3/24???
• ESMA finalises first rules on crypto-asset service providers -?25/3/24???

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And in case you haven't seen, here is a selection?of our latest articles:

• Market Making: Guidebook to Crypto Foundations & Token Issuers?-?NEW
• WorldCoin: Crypto’s holy path to mass adoption or a dystopian nightmare??
• Why will at least 80% of centralized crypto exchanges (CEXs) disappear??
• Market Making Overview: TradFi vs Crypto??
• Commentary notes on Credit Suisse’s rescue deal and recent banking turmoils (2/2)?
• Commentary notes on SVB’s failure, Credit Suisse, implications for crypto, and where do we go from here (1/2)
• The Future of Trustless and Decentralized Cross-Chain DeFi — Focus on Interlay
• On Blockchain Interoperability – Focus On The Polkadot Ecosystem

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