FTX (Re)Turns, BTC (Not)Moneyz, ETF (Un)Coming and 20 Crypto Jokes
This week in crypto, we had FTX: it was having initial talks with investors on bringing back the FTX.com exchange through structures such as a joint venture, the new FTX leadership team recouped approximately $7 billion in liquid assets, the exchange put a pause on the sale of its stake in the AI startup Anthropic, it was revealed that Sam Bankman-Fried had shot a tutorial video on cryptocurrency for MasterClass, and Sequoia Partner Alfred Lin claimed that the FTX investment was a correct decision at the time.
Meanwhile, Binance's powerful co-founder Yi He finally broke his silence amidst regulatory turmoil, and Binance overturned the restriction on privacy coins for European customers. KuCoin implemented a mandatory KYC procedure, Prime Trust was facing imminent closure as Nevada regulators moved to shut it down, and after abandoning the Prime Trust deal, BitGo eyed other acquisitions. MicroStrategy added an additional 12,333 bitcoin to its portfolio, the share price of Grayscale Bitcoin Trust reached a one-year high fueled by renewed ETF optimism, a new ETF backed by BTC futures and with 2x leverage is set to go live on Tuesday, and investment funds backed by digital assets saw their largest weekly inflows in a year.
As that was happening, the Bank of England suggested that CBDC 'Britcoin' may not rely on blockchain, and the Swiss Central Bank said it was launching a wholesale CBDC on the SIX digital exchange as part of a pilot. Canadian lawmakers recognized blockchain as an innovative industry with "significant, long-term" potential, Argentina’s top financial regulator wanted to adopt the crypto regulations set out by the FATF, a South Korean court ruled that ‘Bitcoin is not money’ and ‘interest rate rules don’t apply’
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