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Unverified ETF, Legaled FTX, Blamed SEC and 20 Crypto Jokes

today 10/21/2023
This week in the cryptocurrency world, several significant events occurred. Bitcoin experienced a surge in price due to unverified rumors of the US SEC approving BlackRock's iShares spot Bitcoin ETF application. The cryptocurrency Sui faced difficulties as its price reached all-time lows. Additionally, the Depository Trust & Clearing Corporation acquired blockchain startup Securrency Inc. in a deal worth $50 million. The case against Sam Bankman-Fried, the founder of FTX, continued as the prosecution revealed telling Twitter messages from him. The former head of engineering testified that FTX paid $1.13 billion in endorsement deals. Moreover, a detailed analysis of FTX and Alameda Research's financial past was revealed by a University of Notre Dame accounting professor. The FTX bankruptcy estate staked over SOL 5.5 million valued at $122 million, and customers of FTX and FTX.US may reclaim more than 90% of their assets through an amended proposal. In other news, Trezor launched two new products, including a limited-edition Bitcoin wallet that sold out quickly. Ryder raised $1.2 million and introduced the Ryder One hardware wallet with a unique recovery system. OMA3 formed a working group to standardize creator royalties on NFT marketplaces. WAX's NFT game Brawlers launched on Fortnite's Epic Games Store, while Bandai Namco suspended downloads of Gundam Metaverse due to a major leak. Despite the bear market, Web3 gaming continued to attract investor attention. In the US, the California Governor signed a crypto licensing bill into law, effective from July 2025. The New York Attorney General filed a complaint against Gemini, Genesis, and DCG for defrauding customers. The Treasury imposed sanctions on a crypto exchange in Gaza involved in Hamas fundraising. SEC Chairman Gary Gensler confirmed that the staff is working on multiple Bitcoin ETF filings. Matrixport predicted that BTC could reach $42,000 if the BlackRock Bitcoin ETF is approved, and Cathie Wood blamed Gary Gensler for obstructing spot Bitcoin ETFs. Edward Snowden spoke about the risks of Bitcoin ETFs at the 2023 Bitcoin Conference. In international news, Russia's Sber announced its participation in the Central Bank's digital ruble pilot. Major Japanese businesses requested crypto tax reforms in Japan. South Korea aimed to establish comprehensive guidelines for the issuance and distribution of cryptocurrencies. South Korean prosecutors sought the death penalty for four suspects involved in a crypto murder-kidnap case. Israel ordered a freeze on hundreds of crypto accounts and seized millions in crypto to block funds to Hamas. Tether froze 32 addresses related to events in Israel and Ukraine, totaling $870,000. Coinbase chose Ireland as its main European hub due to regulatory pressure in the US. Bitpanda obtained a license to offer virtual asset services in Norway. Upbit received in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore. The general manager of Binance France decided to step down from her role. Lastly, a series of crypto-related jokes were shared on social media.
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