This week in the cryptocurrency world brought several key events, including important legal disputes and market trends that may influence the future of the crypto industry.
Coinbase Requests from SEC
Coinbase has filed a legal motion against the SEC, requesting an explanation as to why the agency did not conduct a thorough search of records, including text messages from Gary Gensler and other senior officials. The motion cites the loss of nearly a year’s worth of text messages, raising questions about the agency's conduct.
Bitcoin Consolidation
According to Mike Novogratz, CEO of Galaxy Digital, Bitcoin is currently in a state of consolidation as companies have focused on accumulating altcoins. He noted expectations for Bitcoin to see a rise by the end of the year, despite current price fluctuations.
Bankman-Fried's Appeal
A central event is the scheduled court hearing for former FTX CEO Sam Bankman-Fried on November 4. This hearing will mark the first significant step in his appeal process since being transferred to a different facility. His lawyers argue that he was not afforded the proper means to defend himself in court.
The week has been rich in events for the crypto industry, featuring legal battles, market fluctuations, and judicial proceedings. These changes may have a profound impact on the future of the sector.
