Key Takeaways
BlackRock Files for Bitcoin ETF
BlackRock and other traditional financial institutions have applied to offer spot Bitcoin exchange-traded funds (ETFs), marking a significant development in the crypto industry. The entrance of BlackRock in the spot Bitcoin ETF arena in June has the potential to bring greater credibility to the market.
Sam Bankman-Fried Found Guilty of Fraud
The former CEO of crypto exchange FTX, Sam Bankman-Fried, has been found guilty of fraud and conspiracy related to the misuse of customer funds at the bankrupt company. This development highlights the importance of self-custody in the crypto industry and raises questions about the security of funds on exchanges.
DOJ Charges Binance and ‘CZ’
Binance Holdings Ltd. and its CEO, Changpeng Zhao, have pleaded guilty to criminal charges related to violations of the Bank Secrecy Act (BSA) and money laundering. This signifies a shift towards stricter compliance with anti-money laundering regulations in the crypto space.
Coinbase, Kraken, and Binance Charged by SEC
The SEC has filed charges against Binance, Coinbase Global Inc., Kraken, and other platforms for operating unregistered securities exchanges. This legal action underscores the ongoing regulatory challenges faced by major players in the crypto industry.