"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest crypto headlines today, including the interest behind a token inspired by Grok AI, an artificial intelligence service by Elon Musk-owned social app X. The Wall Street Journal reports a new crypto exchange will be launched by former FTX executives.
And Elon Musk inspired token surges and some FTX executives reportedly have a new exchange. You're watching Coin Desk Daily. I'm your host, Jen Sani. Let's take a look at the markets. The coin desk, Bitcoin price XBX index is currently trading below $37,000. The biggest Cryptocurrency by market cap remains high as excitement about the potential approval of a spot. Bitcoin ETF has fueled a strong rally over the past month but Jp Morgan says that excitement seems overdone. In a recent research report, the banking giant says ETF S already exist in Canada and Europe and have gained a little interest from investors since their inception. A key witness in the trial of Sam Bakeman Fried is reportedly launching a new crypto exchange. According to the Wall Street Journal, former FTX general counsel, Ken Sun has launched Dubai based start up Trek Labs. It received a license from the Emirates crypto regulator in October. The journal says Sun and other former company executives want the new exchange to avoid issues that led to the downfall of FTX. This exchange will allow customers to verify holdings at any time bankrupt crypto lender Genesis has agreed to settle $1 billion in claims by defunct crypto hedge fund €3 capital. The claims against Genesis refer to transfers made prior to the lender's own bankruptcy in January. The deal set out in a filing from last week includes a payment of $33 million. Genesis is now seeking a New York bankruptcy court's approval to settle a token inspired by an artificial intelligence service by Elon Musk hit 100 and $60 million market capitalization just eight days after release, prices of Grok have more than doubled in 24 hours according to DEX tools extending a week long rally to 13,000%. The market cap currently is around 100 and 38 million. That's a wrap for coin desk daily, get more updates on coindesk dot com and we'll see you next time.