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- Bitcoin ETFs Hit $10B in Trading Volume Within Days!
Bitcoin ETFs Hit $10B in Trading Volume Within Days!
Grayscale stands as a key player in the Bitcoin ETF boom, with its GBTC ETF contributing massively towards the total $10 billion trading volume.
Here's what we've got for you today:
Bitcoin ETFs Surge in Popularity: Insights from the First 3 Days
Dencun Upgrade Goes Live on Ethereum’s Goerli Testnet
FTX Fallout: Bankman-Fried’s Parents Defend Against Legal Storm
XRP Advocate and Analyst Argue on Ripple’s Legal Right to Sell XRP
Spot Bitcoin ETFs were met with enthusiasm, reaching $10 billion in trading volumes in days, with Grayscale and BlackRock still leading the charge.
Grayscale's Bitcoin Trust, now an ETF known as GBTC, experienced high trading volumes, with $970 million on Tuesday, and previous volumes of $2.3 billion and $1.8 billion on Thursday and Friday.
Other Bitcoin trusts also saw robust trading activities: BlackRock’s iShares Bitcoin Trust (IBIT) traded $370 million worth of shares, and Fidelity’s Wise Origin Bitcoin Fund (FBTC) traded shares worth about $310 million.
Grayscale has also been in the spotlight for transferring a large amount of BTC, with Arkham Intelligence reporting a transfer of an additional 9,000 BTC to an exchange early Tuesday.
The much-anticipated Dencun upgrade for the Goerli testnet was launched, but due to limited participation, it did not reach finalization as quickly as anticipated.
The Dencun upgrade, featuring the "proto-danksharding" update aimed at reducing layer-2 transaction fees, was implemented on Ethereum’s Goerli testnet on Jan. 17.
The upgrade experienced limited validator participation, leading to a "chain split" due to validators not synchronizing effectively, a situation that was somewhat anticipated.
Dencun is the final upgrade for the Goerli testnet, after which both the client and Ethereum Foundation testing teams will end support for this testnet.
There have been a few new developments in major crypto lawsuits with Bankman-Fried's parents fighting an FTX lawsuit, and Kwon's trial being delayed due to extradition issues.
Alex Mashinsky, former CEO of Celsius, has sought to dismiss charges of commodities fraud and market manipulation, pointing towards inconsistencies in the government's case against him.
The parents of Sam Bankman-Fried, the former head of FTX, are also attempting to dismiss a lawsuit that accuses them of using their son's position for personal benefit.
The trial of Do Kwon, Terraform Labs' ex-CEO, in the U.S. is delayed until Mar. 25, due to setbacks in his extradition from Montenegro.
During a lively debate on X, XRP supporter Bill Morgan and cryptocurrency analyst "Darkhorse" discussed and exchanged opinions regarding Ripple's legal right to sell XRP tokens.
Crypto analyst Darkhorse stated that Judge Torres' July 2023 ruling didn't allow Ripple to sell XRP, and highlighted restrictions on its sale despite it not being deemed a violation of securities law.
Bill Morgan countered by saying the court only limited Ripple's institutional XRP sales, and that the injunction was specifically against these sales until an SEC appeal.
Morgan further noted that Ripple can sell its XRP; the main issue is whether it needs to register these sales with the SEC. He mentioned that Ripple's programmatic sales don't require registration, as they are not considered investment contracts.
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