Bitcoin (BTC) was holding steady just below $30,000, a positive sign according to Joe DiPasquale, CEO of the crypto hedge fund BitBull Capital. DiPasquale said he was still digesting last week’s announcement by PayPal of its own new stablecoin linked to the U.S. dollar, calling it a major step forward since it’s the first issuance of its kind by a traditional, global payments service with hundreds of millions of users.
Sam Bankman-Fried, the former FTX CEO, was in court on Friday where a judge revoked his bail and returned him to jail. CoinDesk columnist David Morris explained why the decision was almost inevitable, citing Bankman-Fried’s deceptive public arguments and back-door private communications to manipulate his trial since the moment of FTX’s collapse.
The SEC has pushed out its decision on Cathie Wood’s Ark 21Shares Bitcoin ETF application, and open interest or the dollar amount locked in open SHIB futures contracts has topped $100 million for the first time since February.