May 23, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as the U.S. House of Representatives has approved FIT21, a wide-reaching bill to establish oversight and regulations for the crypto industry.

Video transcript

Fit 21 gets approved and SPF is on his way to a new prison. You're watching Coindesk Daily, I'm your host, Jen Sani. The US House of Representatives has approved Fit 21 a wide reaching bill to establish oversight and regulation for the crypto industry. The bill saw support from House Democrats from across the party lines with a 279 to 136 vote. The passage of the crypto market structure bill marks the industry's most significant legislative accomplishment in Congress. The issue is now heading to the US Senate where its future could be much. Murkier US bought Bitcoin ETF. S have reached a new record by holdings on Wednesday with more than 850,000 Bitcoin in custody. Surpassing the previous high of 845,000 Bitcoin from early April according to data tracked by X account H 15 capital G gray scales. G BT C holds the largest amount of Bitcoin among the ETF products with over $20 billion worth followed Blackrock's IBI at 19.6 billion. Hashtag Bitcoin ETF is the smallest holder with $12 million worth convicted crypto fraudster and former FTX CEO Sam B freed is being relocated to a new prison as he works on an appeal to overturn charges. That's according to the Wall Street Journal, the location of the new prison is undisclosed as of this morning, but it is thought to be in California. He is likely to be placed in a medium security prison in March. The disgraced crypto mogul was sentenced to 25 years in prison and ordered to forfeit $11 billion. He was earlier convicted of seven counts of fraud, conspiracy and money laundering. That's it. For Coindesk Daily. Get more updates on and we'll see you next time.

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