STORY: From why there’s a new meme coin in town, to a surprising statement by Sam Bankman-Fried, we round up the week’s big stories in the world of virtual cash.
Bitcoin has roared back to life.
The top cryptocurrency is up around a quarter so far in January.
Trading volumes on major exchanges also leapt close to two-month highs.
What drove the surge is unclear, but some market-watchers put it down to optimism that inflation has peaked and rates could be coming down again.
The revived risk appetite gave a lift to less well-known tokens, including ‘bonk’.
It was launched at the end of December, and had rocketed 5,000% by early this month.
Other so-called meme coins also rallied, with dogecoin and Shiba Inu enjoying big gains.
Former FTX boss Sam Bankman-Fried has pleaded not guilty – in a blog post.
He took to Substack to explain his version of why the crypto exchange went under.
SBF says he didn’t steal a dime, and was just a victim of “extreme” market moves.
It’s rare for a defendant in a U.S. criminal case to say anything in public...
lawyers advise clients against it because prosecutors may use their comments against them in court.
And Singapore-based Crypto.com is the latest big player to say it’s slashing jobs.
The firm says about 20% of posts will go.
It blamed sector-wide challenges brought on by the FTX collapse.