Will the fall of SBF, “King of Crypto” propel the bull?

Hello there, and welcome to another crypto news roundup from Coinigy.

So, we’ll keep this super short.

We’ve all seen the news of SBF’s case and how he was convicted of all seven charges.

While we await SBF’s sentencing on March 28, 2024, we can’t help but think.

The fall of FTX was a major event that triggered the current bear market, right?

People losing trust in crypto and all… pretty dark times.

So what if this one stroke of justice is all we need to turn back the tides in our favor?

Anyway, here are last week’s highlights:

• ‘Crypto King’ Sam Bankman-Fried faces decades in jail after guilty verdict
• Swiss wholesale CBDC pilot kicks off in alliance with central, commercial banks
• Tether issues $610M debt financing to Bitcoin miner Northern Data
• BitGo wins BaFin license in Germany

‘Crypto King’ Sam Bankman-Fried faces decades in jail after guilty verdict

Sam Bankman-Fried, who once ran one of the world’s biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a month-long trial in New York.

The jury delivered its verdict after less than five hours of deliberations.

It concludes a stunning fall from grace for the 31-year-old former billionaire, once known as the “King of Crypto”, who now faces decades in jail.

Read the full article

Swiss wholesale CBDC pilot kicks off in alliance with central, commercial banks

According to the announcement, the pilot will run from December 2023 to June 2024.

“The pilot’s objective is to test, in a live production environment, the settlement of primary and secondary market transactions in wCBDC.”

Here’s the complete article

Tether issues $610M debt financing to Bitcoin miner Northern Data

Northern Data AG has secured a 575-million-euro ($610 million) debt financing facility from Tether to drive further investments across its businesses, according to an announcement on Nov. 2.

Here’s the complete article.

BitGo wins BaFin license in Germany

BitGo, which received approval from the New York Department of Financial Services (NYDFS) for a New York trust charter in 2021, has been storing crypto assets for its customers since 2019, also under BaFin supervision, as part of a transitional regime, according to a press release.

Read the full article.

Other Highlights Worth Mentioning

• Oyster Protocol founder gets 4 years in jail for $5.5 million tax evasion – BitKan
• Microstrategy Bitcoin value rises by $900M – Nasdaq
• Circle to phase out consumer accounts – Yahoo Finance
• TON became the fastest blockchain with 104,715 TPS – ZYCrypto

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• Source: https://insights.coinigy.com/will-the-fall-of-sbf-king-of-crypto-propel-the-bull/