'Big Short' Author Michael Lewis Weighs in on FTX Collapse Ahead of SBF Trial; Bitcoin Breaks Above $28K

Bitcoin breaks above $28,000 and crypto s biggest trial is on the horizon. I'm Jen Senai. You're watching Coindesk Daily. Let's take a look at the markets. The coin desk, Bitcoin price XX index is currently trading above $28,000. Bitcoin is hitting its highest price in over a month after the US government avoided a shutdown with a last minute deal. The coin desk either price X index is also trading higher above $1700. Ether is also impacted by lots of movement in the ETF space gray scale has filed an application with the SEC to convert the Grayscale Ethereum Trust to a Spot Ether Exchange traded Fund. Meanwhile, Bene today launched an Ethereum strategy ef earlier on coins TV, head of digital assets product, Kyle de Cruz spoke to us about the debut and what makes it different from rivals. We're all investing in Ethereum futures contracts. And so really the only ways you can differentiate yourself are obviously cost, which were coming in significantly lower than most of the others at 66 basis points. And then further to that is how you structure the ETF so we structured ours as Ac Corp and we feel that's a superior tax advantage vehicle for taxable long term investors, more than $4 million worth of E tied to last year's apparent exploit of the FTX exchange is on the move Blockchain. Data shows it started moving early Saturday morning. There's still around $21 million worth of E in that wallet. FTX and FTX US were drained last November just hours after the company filed for bankruptcy and founder Sam Baman freed resigned. The attacker took over $600 million worth of Ether at the time that hack comes as Bank free prepares for his looming criminal trial. It begins Tuesday in New York the same day. A new BF biography is also being released in an interview with CBS author Michael Lewis says the FT founder saw billions of dollars in missing funds in his financial empire as a quote rounding error. Lewis also says Bank Man Fried genuinely thinks he's innocent. Bank man. Fried faces seven charges including wire fraud and securities fraud. That's a wrap for Coindesk daily. Get more updates on coindesk dot com and we'll see you next time.