Oct 25, 2023

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories shaping the crypto industry today, including FTX founder Sam Bankman-Fried deciding to testify in his criminal trial.

Video transcript

Sam Ban and Fried gets ready to take the stand and Ledger sparks new snark with its recovery option. You're watching coin desk daily. I'm your host, Jen Sani. Let's take a look at the markets. The coin desk Bitcoin price XBX index is currently hovering around $34,700. It's a slight fall after hitting $35,000 late Tuesday morning. Meanwhile, a key gauge of investor sentiment suggests that crypto market may take a bull breather. The crypto fear and greed index has jumped to 70.6 which is the highest since November 2021. A big update in the criminal trial of Sam Beman Fried. The FTX founder will testify in his own defense. His attorneys made the announcement Wednesday as they prepare to begin calling witnesses. The trial is currently on pause until Thursday when the prosecution is expected to rest its case in other FTX news. Beman Fried's former exchange has received bids for a potential restart. During a court hearing Tuesday, we learned at least three bidders are in the running to buy the exchange. A decision could potentially be made by mid December as part of plans to be submitted to the Delaware Bankruptcy Court for approval. Wallet maker Ledger's recover option is now live recover involves users private keys being encrypted, duplicated and divided into three pieces held with three different parties. The features release is prompting a fresh swath of criticism from some users when the service was first discussed publicly several months ago. Some said the product undermines Ledger's stated commitment to privacy and security. Ledger CEO has maintained that this service is meeting demand, crypto withdrawals on Binance are back online after a temporary outage. According to a post on the exchange's X account, it was caused by a technical issue. The outage comes after around $100 billion were traded across all crypto venues on Tuesday, the highest daily volume since the FTX crash in November 2022. According to coin market cap, that's a wrap for coin desk daily, get more updates on coin desk dot com and we'll see you next time.

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