"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories shaping the crypto industry today, including the Justice Department gearing up for its cross-examination of FTX founder Sam Bankman-Fried during his criminal trial.
SPF takes the stand for a third day and a new web three partnership for Saudi Arabia's proposed tech hub. You're watching coin desk daily. I'm your host, Jen Sani. All right, let's take a look at the markets. The coin desk, Bitcoin price XPX index is starting the week above $34,600. As investors look to the Fed's interest rate decision on Wednesday. The leading Cryptocurrency by market cap has doubled this year but shows no sign of overheating according to Blockchain analytics firm into the block. The firm says the bulls trend may continue a positive sign for traders anticipating unabated gains. Sam Bateman Fried trial starts again today with the FTX founder back on the stand, the Department of Justice will begin its cross examination and is likely to extend into Tuesday last week. Bateman Fried began his testimony by arguing that FTXS collapse was the result of mistakes made by staff who held key positions running the companies including former Alameda Research, Ceo Caroline Ellis Verse and Gaming VC firm AMO brands plans to enter into a new partnership with the NIAM Investment Fund. It's a project for a new area in Saudi Arabia envisioned as a hub for technology, trade, entertainment and tourism. Under the plan, a moca will build web three service capabilities with global commercial applications to support its aspirations. Hong Kong's Monetary Authority has published a report on phase one of its CBD C pilot. The report said the CBD C could add unique value in three main areas, programmability tokenization and atomic settlement. However, the program's tests were conducted on a small scale under a controlled environment. The report says further investigation is needed. That's a wrap for coin desk daily. Get more updates on coin desk dot com and we'll see you next time.