In other news, the article reports on the sentencing of the former CEO of Turkish crypto exchange Thodex to over 11,000 years in prison for a $2 billion scam, and the FBI's announcement that the $41 million hack of crypto gambling site Stake was carried out by North Korean hacking collective Lazarus Group. It also covers the prediction that Bitcoin's price could hit $46K by the 2024 halving, and the resolution of an enforcement case against collapsed trading organization Mirror Trading International, which has been ordered to pay $1.7 billion in restitution to victims.
Key takeaways:
- Binance, the crypto exchange, has seen 10 key executives leave in 2023 amid growing regulatory troubles. The latest departures include Helen Hai, executive vice president, and Gleb Kostarev, vice president of Eastern Europe, Turkey, the Commonwealth of Independent States, Australia and New Zealand.
- The United States Securities and Exchange Commission has approved Nasdaq’s request to operate its first AI-driven order type, the dynamic midpoint extended life order (M-ELO), which uses artificial intelligence to update and recalibrate itself in real-time.
- Former FTX CEO Sam “SBF” Bankman-Fried lost an initial appeal to be released on bail prior to his criminal trial. His lawyers had petitioned the court for temporary release, but the motion was denied.
- Grayscale has requested the U.S. Securities and Exchange Commission to approve the conversion of its flagship Bitcoin fund to a spot exchange-traded fund (ETF), arguing that there are “no grounds” for treating the Grayscale Bitcoin Trust differently from Bitcoin futures ETFs.