Aug 14, 2023

“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, as Ira Lee Sorkin, former attorney for Bernie Madoff and current partner at Mintz and Gold, explains what could happen next for Sam Bankman-Fried, after the FTX founder was sent back to jail before his trial.

Video transcript

Stan Bank been freed back behind bars. And how much does Trump own in crypto? You're watching Coindesk Daily, I'm your host, Jenn Senai, Sam Baman Fried is back in jail on Friday. A judge revoked the FTX founder's bond for witness tampering. He will remain in jail ahead of his criminal trial. In October, former attorney for Bernie Madoff and current partner at Mint and Gold. Ira Lee Sorkin spoke about what could happen next on Coindesk TV. Earlier today. Let's take a look. My understanding is that he's going to appeal it. Uh He's got a very good lawyer representing him, uh and they're gonna appeal it but uh the chances of him um getting out pending the trial, I think are very slim. Donald Trump holds up to $500,000 in crypto. That's according to a recently released filing with the US Office of Government Ethics, the former president who was running for office again in 2024 released a collection of NFTS last year and again in April, both series sold out filing showed he had made between $500,001 million from those projects. And let's take a look at the coin desk. Bitcoin price index, it's currently trading at around $29.6000. Bitcoin and Ether are trading flat after a relatively uneventful weekend. This comes as Bernstein says the approval of a Bitcoin spot could help power up a new crypto cycle. Analysts expect the spot. Bitcoin is market to be sizable, reaching 10% of Bitcoin's market cap in 2 to 3 years. The SEC extended its review of the ARC 21 shares. Bitcoin ETF application last week as the regulator continues to assess applications from trad heavy weights. That's a wrap for coindesk daily. Get more updates on coindesk dot com and we'll see you next time.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.