Bitcoin’s price surpassed the $28,000 mark, reaching its highest level in over a month. Analysts attribute the gains to optimism surrounding the possibility of a Bitcoin exchange-traded fund (ETF) and seasonal trends. The $28,500 level, which previously acted as a significant support during the last bull market, now becomes a crucial resistance level to watch in the coming weeks. Other cryptocurrencies also experienced positive movement, with Ethereum, Binance Coin, Cardano, and Polygon all seeing gains. Solana’s SOL tokens led the major gains, driven by renewed confidence in the network.
FTX founder Sam Bankman-Fried is beginning his trial week after almost ten months since his arrest. Bankman-Fried will either regain his freedom or face a potentially lengthy prison sentence, depending on the outcome of the trial. Over the next six weeks, thousands of pieces of evidence, including internal documents and audio recordings, will be presented and debated by U.S. prosecutors to prove Bankman-Fried’s alleged fraudulent actions against customers and business partners. Notably, the testimonies and personal opinions of Bankman-Fried’s former colleagues, friends, and housemates may play a critical role in the case.
Deus X Capital, a new investment firm backed by a family office, has been launched with Tim Grant as CEO. The company enters the market with $1 billion in assets, which will be deployed in various sectors such as private equity, venture capital, and digital asset allocation opportunities. Grant, former head of EMEA at Galaxy Digital, brings extensive experience from the cryptocurrency industry, having previously worked at SIX Digital Exchange and UBS. Stuart Connolly has been appointed as the firm’s chief investment officer.
