Nov 9, 2023

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest crypto headlines today, including Polygon Labs' new grant program for developers, SEC chair Gary Gensler's recent comments on an FTX reboot, and some Solana ecosystem tokens gaining value.

Video transcript

Bitcoin gets a boost and an FTX reboot seemingly gets a green light from Gensler. You're watching Coin Desk Daily. I'm your host, Jen Sasi. All right, let's take a look at the markets. The coin desk, Bitcoin price XBX index is currently up hovering around $37,000. The largest Cryptocurrency by market cap hasn't seen levels this high in more than 18 months. Bitcoin's bullish momentum comes after a source familiar with the matter said that the SEC is beginning talks with gray scale. A court decision was finalized last month, putting the spot Bitcoin ETF application back in front of the regulator, Grayscale and Coin Desk are part of the same parent company Digital Currency Group, the native Token of defunct Cryptocurrency exchange. FTX has surged after comments from sec chairman Gary Gensler in relation to a potential reboot. The F TT Token went as high as 60% in the last 24 hours in response to questioning over whether the former President of the New York Stock Exchange was looking to buy. FTX Gensler said, quote, do it within the law. This comes about a week after founder Sam Banri was found guilty on seven criminal charges. There are reportedly several groups in the running to take over FTX, but there is no certainty that a native token would be used in a restarted exchange. Seoul's 100% rally over the past month is helping boost some Salana ecosystem tokens and meme coins. It's a sign of rising bullish expectations among investors ban a salon. A token that began as a meme coin in January is climbing over 30% in the past 24 hours to extend a week long rally to over 100 and 50%. According to some data, Seoul has emerged as one of the top performing crypto majors this year in a sign of the market shaking off the network's purported closeness to FTX founder, Saman Fried Polygon Labs has started a grant program in hopes of getting developers to build applications in its ecosystem. The Ethereum Scaling platform is offering a total 110 million of its native token Matic. That's about $85 million direct grants of up to 2 million madic will be offered to later stage projects, early stage projects can apply for other funding grants. 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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