Oct 4, 2023

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest crypto headlines today, including what to expect on day two of FTX founder Sam Bankman-Fried's criminal trial.

Video transcript

A new house speaker who wants crypto in the books and opening statements for Sam Bakeman. Fried's criminal trial are on the horizon. I'm Jenna. You're watching Coindesk Daily? All right. First, let's take a look at the market. Slow volatility has returned after a sudden move higher earlier this week following ETF decisions, the coin desk, Bitcoin price XX index is currently flat around 27.4 K. The coin desk either price ETX index is at 1600 ripple's XRP is on the rise after a federal judge rejected the S ECs push to appeal its ground shaking loss against ripple. It rallied about 5% on the news. The decision isn't a complete loss for the sec though the judge set an April 2024 trial date for other issues that still need resolution. The agency could still try to appeal the entire case following that trial day, two of Sam Bakeman Fried's criminal trial is underway this morning. His parents and former FTX executive Ryan Salem were seen heading into the courthouse. Here's coin desk's managing editor for Global Policy and Regulation Nick Day with what we can expect. A jury has not yet been selected. But the judge overseeing the case believes we are close. A jury is expected to be seated relatively early on Wednesday morning and opening statements will kick off shortly thereafter. The DOJ expects their statements to last no longer than 30 minutes or so while the defense expects to take almost 40 minutes if not longer crypto friendly congressman, Patrick mchenry has landed in the driver's seat of the US house and it's happening just as legislation to establish digital asset regulations nears a finish line there. The financial services committee chairman has been working on several crypto related bills. Henry will be interim house speaker until a permanent replacement is found. It comes after Speaker of the House, Kevin mccarthy was ousted Tuesday in a historic move by hardline Conservatives. That's a wrap for Coindesk daily, get more updates on coindesk dot com and we'll see you next time.

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