Bitcoin surges to highest price in a month

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Bitcoin surges to highest price in a month

Bitcoin rose to its highest price in more than a month on Monday, as analysts pointed to ETF optimism and seasonality among the reasons behind the gains. Traders at Bitbank, a Japanese exchange, were already eyeing the $28,000 price of bitcoin last week, according to CoinDesk. The $28,500 was a substantial support during the previous bull market and could be a key price to look for in the future as it potentially reverses into a level of resistance. Over $1,700, bps and cardano grew 3.3% in the past 24 hours, while polygon rose 5.5%. The SOL tokens of Solana led substantial gains at 14.5%, mainly due to renewed optimism for the network among some traders.

It is official trial week for FTX founder Sam Bankman-Fried. It's been nine months and 20 days since the former crypto CEO was arrested at his home in the Bahamas. On Tuesday, he is set to start a trial in which he will win back his freedom or be locked up for what a federal judge says could be a very long time. Thousands of pages of evidence, including internal documents and audio recordings, will be presented and fought over in the next six weeks as US prosecutors try to prove the former FTX founder knowingly defrauded customers and business partners. The most damning evidence - or lack thereof - could come from the recollections and personal opinions of Bankman-Fried's former colleagues, friends and housemates.

Deus X Capital, a family office-backed investment firm, launched today with Tim Grant as CEO. The company begins with $1 billion of assets, including current investments and capital, to be utilized in private equity, venture capital and fund allocation opportunities in the digital assets, blockchain, fintech and institutional capital markets. Grant was previously the head of EMEA at Mike Novogratz's Galaxy Digital. prior to his position, he was CEO of SIX Digital Exchange and worked for TradFi giant UBS. Stuart Connolly, the firm's chief investment officer, has been appointed as the firm's chief investment officer.