📚 The Cryptopians - Out in Paperback!

Find out the inside story of the rise of Ethereum in Laura’s book, “The Cryptopians.”

In a recent report, Alex Thorn, head of research at Galaxy, predicted that inflows to spot bitcoin ETFs would rise above $14 billion in the first year following the potential approval by the Securities and Exchange Commission of multiple applications the agency is considering. Thorn called the availability of this product significant because it will give financial advisors and wealth managers accessibility to digital assets in a way that will be acceptable to clients seeking exposure to crypto. He also believes approval of a spot BTC ETF could occur this year before the holidays, and draws comparisons between bitcoin and gold as investment products.

This week, Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner discuss Bitcoin’s price surge over the past week amid growing optimism that a spot BTC exchange traded fund would win regulatory approval, an erroneous Wall Street Journal story about crypto funding to the terrorist group Hamas and AI, and crypto illiteracy among leading U.S. lawmakers. 

James Seyffart, market analyst at Bloomberg Intelligence, and Matt Hougan, chief investment officer at Bitwise Asset Management, feel quite certain a spot Bitcoin ETF will launch in the next few months. 

First, the SEC decided not to appeal a court’s rejection of Grayscale’s application to convert its Bitcoin trust to a spot ETF. Second, there’s been a change in the way the SEC has been treating the many other spot Bitcoin ETF applications—requesting miniscule tweaks in disclosure language. And even though other legal hiccups are occurring—the NY Attorney General’s lawsuit against Grayscale parent company, DCG, the SEC’s potentially renewed vigor in the Ripple case, and Cointelegraph’s incorrect tweet about a bitcoin ETF—the SEC needs a PR win right now. According to them, this means good things not just for spot Bitcoin ETFs but also, shortly thereafter, Ethereum ETFs. 

👨‍⚖️ Sam Bankman Fried’s Trial Coverage

Watch or Listen to Laura’s Daily Recaps 👇

SBF Trial, Day 14: Sam Bankman-Fried Casts Blame on Others for Key Decisions at FTX

In his first testimony in front of the jury, former FTX CEO Sam Bankman-Fried presented himself as uninformed about key events prior to FTX’s collapse while blaming other members of the inner circle.

SBF Trial, Day 13: Before Judge, Former FTX CEO Sam Bankman-Fried Gives Few Straight Answers

The former FTX founder took the stand in a pre-trial hearing, revealing how he might fare under cross-examination in the actual trial.

In Case You Missed It 👀

Here are some of the most important news of this week:

1. FTX Negotiates With Three Bidders for Exchange Restart: Report

2. BlockFi Opens Wallet Withdrawals After Emerging From Bankruptcy

3. dYdX Becomes Open Source as It Transitions to Cosmos-Based Blockchain

4. Bitcoin Developer Exits Lightning Network Amid Security Concerns

🤓 Learn With Unchained

1. What Is the Fear and Greed Index & Why Is It Important?

2. What Are Privacy Coins and How Do They Work?

3. How to Make Proposals and Vote in a DAO

4. How to Earn Interest on Stablecoins: A Step-by-Step Guide

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