"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto headlines today, including the argument Binance attorneys are making in a recent motion to dismiss the SEC's lawsuit.
FTX clawbacks and Binance pushes back against the SEC. You're watching Coindesk Daily, I'm your host, Jenna. Let's take a look at the markets. The coin desk, Bitcoin Price XPX index is currently around $26.6000. While the coin desk ether price etx index is at 1600. Ether has dropped almost 2% this week. Analysts say ether prices will stabilize as options. Market makers hedge their books. BB US and CEO C have filed to dismiss the sec's lawsuit. A filing Thursday claims the regulator was overreaching when it sued Binance in June alleging it illegally listed unregistered securities. The motions to dismiss liens on the so called major questions doctrine. The Supreme Court ruling that directed federal agencies to await congressional authority over significant economic or political issues. FX has sued former employees of a Hong Kong incorporated entity affiliated with the bankrupt crypto exchange according to court filings, those employees at salame fraudulently withdrew assets in the days leading up to fx's bankruptcy. FX is looking to recover about $157 million. That's according to a court filing late Thursday, this is the latest in a series of clawback efforts from the FTX bankruptcy estate in June. The bankruptcy team said the company owed its customers nearly $9 billion. And Sam Bagman Fried's attempt to get out of jail has been rejected. On Thursday, an appeals court refused to overrule the decision to revoke the FX founder's bond release for tampering with witnesses. It comes at the same time as the federal judge overseeing the trial rejected all of the witnesses. His defense lawyers wanted to put on the stand. He is set to remain in jail until his criminal trial begins in New York on October 3rd. That's a wrap for Coindesk daily. Get more updates on coindesk dot com and we'll see you next time.