A weekly look at the most important moves and news in crypto and what's on the near-term horizon in digital assets.
Hello there! This is Mark DeCambre, Editor in Chief at MarketWatch. Sam-Bankman Fried is no longer a free man, after the Bahamas authorities took him into custody. Meanwhile, Binance CEO Changpeng “CZ” Zhao on Thursday said his exchange would be able to meet all customer redemptions, should it come to that, in an interview with CNBC’s “Squawk Box.”
The New York Post reported that he vowed to fight extradition from Nassau. The paper reported that the disgraced crypto founder faces a maximum 115 years in prison if convicted of all felony charges. Conspirators? Beyond Bankman-Fried, attention is also focused on the whereabouts of Caroline Ellison, former CEO of Alameda Research, the hedge fund closely affiliated with FTX, writes MarketWatch’s James Rogers.
He says alternative coins haven’t garnered much traction as a means of exchange but, instead, have been used for elicit purposes. Gold prices stand at around $1,800/oz. and have benefited from an environment of higher inflation, though that climb has been mitigated by higher interest rates, with bonds competing against gold as a haven.
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