Mar 25, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including a Coinbase research report that looked at bitcoin ETFs' first week of net outflows in two months.

Video transcript

How many years will SPF spend in prison? And a Binance executive escapes Nigeria. You're watching Coindesk Daily, I'm your host, Jen Sani. A new research report from Coinbase says that crypto markets remain fixated on spot Bitcoin ETF flows rather than fundamentals. Coinbase noted that net outflows amounted to $836 million between March 18th and March 21st. The report also said that while there is little insight into what drove the surge in outflows from Grayscale Bitcoin Trust, which reached 1.83 billion in total over four days. One source of potential selling pressure that has been expected is from the bankruptcy estate of Genesis. Global Coinbase said it's not clear whether the recent G BT C outflows are linked to these sales. And that quote, we can only infer that the size and scope of the change in G BT C shares outstanding, coincide with recent developments on Genesis payment obligations and quote. Bitcoin is at almost $67,000 up just over 2% as of 9:30 a.m. Eastern time. And the Coin Desk 20 index is at 2593 points up 2.5%. How many years will Saman Manfried be sentenced to? We took a look at prediction market poly market to see what people are betting on. 28% of people think he's getting 40 to 50 years while 26% think 30 to 40 27% say 20 to 30 FTX as disgraced founder and former CEO is scheduled to be sentenced this week. And for those that think Bakeman freed will be spending decades in jail. Some lawyers have told Coindesk that there's a possibility his sentence could be reduced as creditors have been made whole. And Nigeria's tax authority has charged finance with tax evasion. According to local news outlets, this comes after two senior executives were detained by authorities since then, one of the two executives has escaped. According to a presidential spokesperson, Reuters reported that the country is working with Interpol to secure an international arrest warrant for Nadim and Jwala, who is Binance, his regional manager for Africa. That's it for coin desk daily. Get more updates on and we'll see you next time.

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