Closing Arguments Start in Sam Bankman-Fried's Trial; Could Bitcoin Reach $150K by 2025?

Sam Bateman Fried's trial winds down and circle phases out retail service. You're watching Coindesk Daily, I'm your host, Jen Sani. Let's take a look at the markets. The coin desk, Bitcoin price XX index is currently trading around $34,200. The price is up slightly as investment research firm Bernstein reportedly predicts that Bitcoin could hit 100 and $50,000 by 2025. According to C NBC, the prediction came in a note to clients on Tuesday. It hinges on the sec approving a spot. Bitcoin ETF Bernstein predicts that will happen in the first quarter of 2024. Sam Bateman Fried's five week criminal trial could be reaching its end with closing arguments expected to begin today. They are expected to take around one day. That means the case could go to the jury as soon as Thursday. Binman Fried was the last witness to take the stand. The FT X founder defense has so far tried to suggest that the exchange grew too quickly without sufficient oversight or risk planning. However, prosecutors have worked to poke holes in that narrative. The commodity futures Trading Commission has paid out $16 million to whistleblowers. This year, most of the 1530 tips involved crypto. According to Commissioner Christie Goldsmith Romero, the CFTC regulates derivatives markets in the US. In a statement, she said, quote, with the rise of crypto, more retail customers have come under the CFTC'S jurisdiction making even more critical the efforts of the cftc's whistleblower program. End quote. U DC issuer circle says it's curbing service for individual accounts to mint Stablecoins. The action represents a move towards main competitor. Tether's practice to limit access for retail users. A spokesperson told Coindesk quote circle is phasing out support for legacy consumer accounts and has notified individual consumers of this decision account. Closures do not apply to business or institutional circle. Mint accounts end quote. That's a wrap for coin desk daily, get more updates on coindesk dot com and we'll see you next time.