"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto headlines today, as three celebrities promoters settle an FTX lawsuit.
Bitcoin sees a boost and Elizabeth Warren's digital asset Bill sees new support. You're watching Coindesk Daily, I'm your host, Jen Senai. Let's take a look at the markets. The coin desk, Bitcoin price XX index is currently trading above $27,000. The rise comes ahead of the Federal Reserve's meeting later this week with traders betting, the fed will keep borrowing costs unchanged. Bitcoin is at its highest level since August 31st, having climbed almost 8% since the ominous sounding death cross pattern appeared on its daily price chart a week ago, reinforcing the measure's reputation as an unreliable standalone indicator. There's new support for Senator Elizabeth Warren's Digital asset anti money laundering act. The bill now has nine more co sponsors, mostly Democrats if passed, it would extend the regulatory framework that applies to traditional financial institutions to Cryptocurrency firms in a press release. Warren says it is quote, the toughest proposal on the table cracking down on crypto illicit use and giving regulators more tools in their toolbox. End quote, three celebrity promoters for FTX have settled the lawsuit for undisclosed terms. It includes Jaguar's quarterback Trevor Lawrence and two youtube influencers according to court filings, other celebrities who have been sued for promoting the failed exchange like Shaquille o'neal and Tom Brady remain in confidential discussions. According to lawyers who are leading the case, the filings say there is a quote likelihood that other FTX settlements will be reached. Billionaire investor, Mark Cuban has lost nearly $900,000 worth of tokens. Over the weekend, it was drained of us. Pegged stable coins, staked, eat super rare tokens and some Ethereum name service domains. According to Blockchain data, it happened after likely clicking on a fishing link after months of inactivity. Cuban told outlet DL news, the fishing attack currently seemed to stem from a fake meta mask wallet application that he downloaded. This is not the first time mark Cuban has lost money due to a crypto scheme in 2021. He lost funds when Iron Finance's Titan Token dropped from a price of more than $60 to almost zero. That's a wrap for Coindesk daily. Get more updates on coindesk dot com and we'll see you next time.