Sep 20, 2023

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto headlines today, as some crypto traders say low volatility will likely continue after Wednesday's Federal Reserve rate decision.

Video transcript

All eyes are on the fed and the bank man freed family faces even more scrutiny. You're watching Coindesk Daily, I'm Jen Senai. All right, let's take a look at the markets. The coin desk, Bitcoin price XPX index is currently above $27,000. The price relatively unchanged ahead of the fed's next rate decision Wednesday afternoon, volatility in Bitcoin remains low consistent with the calm in the US stock market. Some crypto traders believe low volatility will likely continue as the FED is expected to hold borrowing costs steady. Stanford University will be returning gifts it received from FTX. According to Bloomberg, it was allegedly orchestrated by founder Sam Baman Fried's parents, Joseph Baman and Barbara Fried are still listed as professors on Stanford's website. They are not currently teaching any courses on Monday, the FTX estate sued bank men and freed to recover millions of dollars in fraudulently transferred and misappropriated funds. According to a court filing, the parents have called the allegations quote, completely false. We're also getting new insights into the bank and Fried's apparent family dynamic. A recent court filing in FT X's bankruptcy case shows Joe Bank man was initially paid a $200,000 salary by FTX. He expressed discontent though saying he expected 1 million annually and involved his wife in the discussion. The couple then received significant financial benefits including a $10 million gift and a $16.4 million property in the Bahamas both linked to FTX funds. The filing indicates that bank man viewed Alameda research, a central firm in the FTX Empire as a quote family business and a new look at where South Koreans are keeping their digital assets. The country's national tax service finds just over 400 individuals and corporations hold crypto accounts overseas. It adds up to 131 trillion one or $99 billion outside the country. That's 70% of all reported overseas assets. South Korean news agencies say the country introduced a mandatory reporting requirement earlier this year requiring nationals to declare if they have more than ¥500 million in accounts abroad. 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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