Oct 9, 2023

"CoinDesk Daily" breaks down the biggest crypto headlines today, including how markets are reacting to escalating violence in the Middle East.

Video transcript

Dan Batman Fried's criminal trial enters its second week and a look at what is moving the markets. Welcome to Coin Daily. I'm your host, Michael Casey. The crypto markets are down slightly as traders react to rising turmoil in the Middle East. Over the weekend, Hamas carried out a surprise attack on Israel prompting Prime Minister Benjamin Netanyahu to declare war on the Palestinian organization and launch retaliatory missile attacks on the Gaza Strip. All of that is causing broader markets to slip and oil prices to rise. The coin desk Bitcoin price XBX index is currently trading around $27,500. Meanwhile, the Coin desk ether price etx index is trading at just under $1600. Ether prices slipped early Monday after a wallet apparently belonging to the Ethereum Foundation sold a portion of its tokens. Aham. Data shows the wallet swapped over 1700 for $2.7 million in US DC. So far, the Ethereum Foundation has not publicly revealed what it intends to do with the proceeds. And the trial of FTX founder Sam Beman Fried is on pause for the Columbus Day holiday. It will start up again on Tuesday morning with expected testimony from Caroline Ellison, the former Alameda Research CEO pleaded guilty to federal charges last December in opening arguments, the defense assigned some of the blame to Ellison claiming she failed to install safeguards coin STV spoke with Skybridge capital founder, Anthony Scaramucci about the trial as he was among the reported list of potential witnesses that could take the stand this morning on first mover. He cleared things up, have not been asked to testify. And I appreciate you asking me that question because it allows me to clear it up because there's been suggestions that uh I'm gonna be on the stand during this case. And I've frankly been told specifically that I will not be. This comes as prosecutors want Sam Ban and Fried to be banned from bringing up A I start up anthropic recent fundraising efforts in its defense. There has been talk that FTX creditors could be made whole because FTX and Elevator Research previously invested $500 million in the company according to Bloomberg. And that's a wrap for coin de Daily. Check out more updates on coins dot com and we'll see you next time.

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