Sam Bankman-Fried's Lawyers Push for FTX Founder's Jail Release Again; Crypto Coin Listing Crack Down

Another push for Sp F's release and citigroup's new step into tokenization. Welcome to Coin Desk Daily. I'm your host, Jenna. Let's take a look at the markets. The coin desk, Bitcoin price XBX index is back above $27,000 after tumbling about 2% yesterday afternoon to $26,700. Meanwhile, Coin Desks Def I index is up 9.1% week on week. While the overall Coin Desk market index is up only 6.4%. Standout assets include Thor Chain, which is 29% higher and yield protocol true, which has has risen 25% today. Sam Baman Fried's lawyers will push an appeals court to release him from jail. The FTX founder and his team are hoping it will help prepare for his upcoming criminal trial. His bail release was revoked back in August after a judge decided he likely tampered with witnesses Baman Fried is facing federal fraud charges when his trial begins on October 3rd. Meanwhile, we're getting a new response after the bankrupt crypto Exchange sued SPF and his parents to get back, misappropriated funds. Lawyers for his parents saying in part quote, this is a dangerous attempt to intimidate Joe and Barbara and undermine the jury process just days before their child's trial begins. These claims are completely false end quote. Banking giant Citigroup is launching tokenization services for institutional customers. It will use Blockchain technology and smart contracts for cash management and trade finance. City tested the smart contract capability in a pilot program with MC. In a report earlier this year, city forecasted that tokenization of digital securities would be a four trillion to $5 trillion market by 2030. New York's Department of Financial Services is proposing tougher rules for coin listings. According to the updated guidelines, licensees would need to assess the legal reputational and market risks of any new coins. They'd also have to figure out how they would delist a token. The regulator also updated its list of green listed coins. That's a app for Coindesk daily, get more updates on coindesk dot com and we'll see you next time.