Summary
Cryptocurrency prices remain relatively stable, with Bitcoin and Ethereum showing minimal movement. Dogecoin, Gitcoin, Bitcoin Cash, and Ribbon are the top gainers. The market is mixed, with BTC-beta and meme coins performing well. The SEC’s case against Coinbase is heading to trial, while a DeFi case against Coinbase’s wallet was dismissed. ETFs are seeing significant inflows, with Ark leading the way. BlackRock’s ETF is the fastest-growing in history. There is potential for an ETH ETF, even if it is considered a security. The chances of an ETH spot ETF by May are low. SBF faces sentencing today and could potentially receive a 50-year sentence.
Key Points
1. SBF (Sam Bankman-Fried) is facing sentencing today and could potentially face up to 50 years in prison.
2. Crypto market update: BTC is at 70.7k (+1%), ETH at 3585 (0%), and SOL at 186 (-1%). Top gainers include DOGE, GT, BCH, and RBN. BTC-beta and meme coins are outperforming.
3. Recent developments in the crypto industry include the SEC case against Coinbase going to trial, a DeFi win with a case dismissed against Coinbase wallet, ETFs seeing $244m inflows with Ark leading the way, and BlackRock ETF being the fastest growing in history according to Fink. There is also speculation about the possibility of an ETH ETF, with chances of a spot ETF by May being only 20%.