Bitcoin
The market leading digital asset surged to a high of $31,300 on Friday, gaining 20% over a seven-day period.
If approved, BlackRock’s spot Bitcoin ETF could allow the SEC to save face on a potential loss in its legal battle with Grayscale.
The second largest profit taking event this year took place on June 21, when the price of Bitcoin surpassed $30,000.
Business
The Nevada Department of Business and Industry found that the crypto custody firm is operating at a substantial deficit.
Bankrupt crypto exchange FTX is suing Michael Kives, a former Hollywood agent and aide to the Clintons, and seeking to recoup millions of dollars from his company K5 Global.
The crypto exchange said it had worked with banking partners to restore U.S. dollar withdrawals on the platform, but warned that the service could be discontinued in the near future.
The founders of bankrupt crypto hedge fund Three Arrows Capital (3AC) have launched a new firm called 3AC Ventures to invest in crypto projects.
The cryptocurrency fund manager applied to list the Valkyrie Bitcoin Fund on the NASDAQ.
Regulation
The Federal Reserve chair believes that the central bank should play a role in approving stablecoin issuance.
Lawyers representing the crypto exchange pointed to a court transcript that shows the SEC conceding that it had no evidence that customer funds were diverted offshore.
