Bitcoin (BTC) rose above the $28,000 mark early Monday to log its highest price in over a month as analysts pointed to ETF optimism and seasonality among the reasons behind the gains. Traders at Japanese exchange Bitbank were already eyeing the $28,000 level for bitcoin last week, as CoinDesk reported. The $28,500 acted as a major support in the previous bull market and could be a key price to watch for in the coming weeks as it potentially flips into a level of resistance. In the past 24 hours, ether (ETH) bumped over $1,700, bnb (BNB) and cardano (ADA) added 3.3%, while polygon (MATIC) rose 5.5%. Solana’s SOL tokens led major gains at 14.5%, mainly on renewed optimism for the network among some traders.

It is officially trial week for FTX founder Sam Bankman-Fried. It’s been exactly nine months and 20 days since the former crypto CEO got arrested at his then-home in the Bahamas. On Tuesday, he is set to start the trial in which he will win back his freedom, or be locked up for what a federal judge says could be a “very long” time. Thousands of pages of evidence, ranging from internal documents to audio recordings, will be presented and fought over in the next six weeks as U.S. prosecutors try to prove that the former FTX founder knowingly defrauded customers and business partners. Arguably the most damning evidence – or lack thereof – could come from the recollections and personal opinions of Bankman-Fried’s former colleagues, friends and housemates.

Deus X Capital, a family office-backed investment firm, launched today with Tim Grant as CEO, the company said in a statement. The company begins with $1 billion of assets, including existing investments and capital to be deployed in private equity, venture capital and fund allocation opportunities in the digital asset, blockchain, fintech and institutional capital markets sectors. Grant was previously head of EMEA at Mike Novogratz’s Galaxy Digital (GLXY.TO). Prior to this he was CEO of SIX Digital Exchange and worked at TradFi giant UBS. Stuart Connolly has been appointed chief investment officer, the firm said.

All 15,000 ether (ETH) sitting in a wallet associated with last year's $600 million FTX exploit have now been moved through privacy tools and bridges.

In November 2022, hours after FTX and its related companies filed for bankruptcy, an unknown party managed to drain various wallets of as much as $600 million. About $26 million worth of ETH – 15,000 ether – sat in a single wallet until earlier this weekend, when a first tranche of 2,500 ETH ($4 million) began moving, ultimately ending up at the Thorchain bridge, the Railgun privacy wallet, or intermediary addresses.

The remainder of these funds have now moved, with many of them similarly ending up at the Thorchain router. Some of these funds also went to a contract labeled "Metamask: Swap Router."

Several legislators shaping the future of digital assets policy have committed to joining CoinDesk’s inaugural State of Crypto: Policy and Regulation, including Sen. Lummis, Rep. Hill, Rep. McHenry, Rep. Thompson, Rep Torres and many more.
State of Crypto is a one-day boutique event uniting key policymakers, regulators and government officials with legal, policy and compliance executives representing the largest and most influential TradFi and DeFi leaders in asset management and financial services.
The gathering provides an unprecedented opportunity to evaluate, dissect and ultimately shape crypto regulatory frameworks that support a vibrant, secure and healthy future for the digital economy.
Are you a GC, CCO, CLO, COO or head of policy or government affairs evaluating or actively investing in digital assets? Join State of Crypto: Policy and Regulation to help drive crypto policy forward collaboratively. Save 10% with code FM10. Learn more and register.