Sep 5, 2023

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest stories in crypto, as crypto custodian BitGo signs a strategic business agreement with South Korea's Hana Bank.

Video transcript

Prosecutors near a win on FTX celebrity endorsement and another finance executive says, goodbye, welcome to Coindesk Daily. I'm your host, Jenna. Let's take a look at the markets. Bitcoin continues its subdued start to the week trading below $26,000 for the past 24 hours. The coin desk Bitcoin price XX index is currently at around $25.7000. This comes as atomic swaps protocol multi chain jumped dramatically on Monday. The coin desk market index shows it was up 73% week on week. This comes after the Protocol experienced an exploit in early July and has been on a consistent downtrend throughout the summer. Announced at Korea Blockchain week that the crypto custodian has signed a strategic business agreement with South Korean Commercial Bank, Hana Bank. According to published reports, the deal covers security solutions tech tie ups and a possible joint venture. Bit go will also assist Hanna Bank in the development of custody services in the second half of 2024. The announcement comes three weeks after bit go raised $100 million at a valuation of 1.75 billion. Another senior executive at Binance is departing the company. The crypto Exchange's global product lead is now departing after almost a year and a half, at least four other high level employees have left the company since the SEC sued the exchange for securities violations in June. Those departures were reportedly linked to the way founder CZ responded to an investigation from the US Regulators which are claims he has previously denied the SEC filed a sealed motion against the firm last week. That includes more than 35 exhibits and lawyers for Sam Bank been freed and the Department of Justice are sparring about what evidence can be brought to his upcoming fraud trial. Prosecutors argue that ads featuring comedian Larry David and football star Tom Brady are blurring lines because there is no distinction between advertising for the international platform and for FTX US. The DOJ court filing reads in part, quote, celebrities are featured in advertisements describing FTX as a safe and easy way to get into crypto and showing customers using a device, displaying the FTX logo, not the FTX US logo and quote the FTX founder attorneys say legally separate us operations should be carved out as accusations relate to the International Business Bank freed has pled not guilty and his trial begins on October 2nd. 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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