Bitcoin hits $28,000 for the first time in a month

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Bitcoin hits $28,000 for the first time in a month

Bitcoin rose above the $28,000 mark early Monday to become the highest value in over a month as analysts pointed to ETF optimism and seasonality among the reasons behind the gains. Bitbank Traders at Japan's exchange Bitbank were already eyeing the $28,000 level for bitcoin last week, according to CoinDesk. The value of $28,500 was a major support in the previous bull market, and could be a crucial price to watch for in the coming weeks as it potentially transforms into a level of resistance. In the last 24 hours, ether rose more than $1,700, bnb and cardano rose 3.3%, while polygon rose 5.5%. The Solana's SOL tokens grew at 14.5%, mainly because of renewed optimism for the network among some traders.

It is official trial week for FTX's founder, Sam Bankman-Fried. It's been exactly nine months and 20 days since the former cryptocurrency CEO was arrested at his home in the Bahamas. On Tuesday, he will start the 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. Hundreds of pages of evidence, including internal documents and audio recordings, will be presented and fought over next six weeks as U.S. prosecutors try to prove that the former FTX founder knowingly defrauded customers and business partners. The most demonstrable evidence could come from the memories and personal opinions of Bankman-Fried's former colleagues, friends and housemates.

Deus X Capital, a family-owned investment firm, launched its new venture today with Tim Grant as CEO, the company said in a statement. The company generates $1 billion of assets, including current investments and capital, to be utilized in private equity, venture capital and fund allocation opportunities in the digital asset, blockchain, fintech and institutional capital markets. Grant was previously EMEA head of Mike Novogratz's Galaxy Digital. He was a CEO of SIX Digital Exchange and worked at UBS, the top trading company in the industry. Stuart Connolly, the chief investment officer of Goldman Sachs, has been appointed by the firm.