The year 2023 has seen a series of events that have had a profound impact on the cryptocurrency landscape. From the beginning of the spot Bitcoin ETF craze to the increased regulation of major cryptocurrency organizations, 2023 has been a roller coaster ride for crypto enthusiasts and institutional investors. Here are the top 5 events in 2023 that shook the cryptocurrency industry to its core.

BlackRock Spot Bitcoin ETF Rocks Cryptocurrency

BlackRock, the world's largest asset management company, is the first major traditional investment company to apply for a spot Bitcoin exchange-traded fund (ETF). BlackRock submitted an application for a spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC) on June 15, 2023.

Following the asset management company’s application, Grayscale, Ark Invest, WisdomTree, VanEck and many other companies followed suit. Despite the continuous delays in the approval of the U.S. SEC, BlackRock used this time to modify its spot Bitcoin ETF filing to include cash redemptions in order to increase the fund’s chances of approval.

Sam Bankman-Fried Fraud Conviction

Sam Bankman-Fried, founder and former CEO of failed cryptocurrency exchange FTX, was found guilty of all seven counts of fraud, conspiracy, and money laundering on November 2, 2023.

The 31-year-old billionaire was unanimously convicted by a jury of misappropriating billions of dollars in client funds and defrauding lenders at subsidiary Alameda Research. Bankman-Fried could face up to 115 years in prison. His sentencing date is set for March 28, 2024.

CZ's resignation from Binance causes a stir in the crypto community

One of the most shocking events of 2023 was the official resignation of Binance founder Changpeng Zhao as CEO of Binance on November 21, 2023.

The former Binance CEO pleaded guilty to violating U.S. anti-money laundering laws and resigned as part of a $4.3 billion settlement with the U.S. Department of Justice (DOJ).

CZ is also restricted from leaving the United States until the court case is concluded because the court believes that his vast resources make him a potential flight risk and returning to Dubai, which has no extradition treaty with the United States, could complicate matters.

XRP ruling in SEC case

Ripple won a major victory in its three-year legal battle against the SEC when U.S. District Judge Analisa Torres ruled in favor of Ripple on July 13, 2023. The ruling declared that programmatic sales of XRP did not qualify as securities.

The decision provides much-needed regulatory clarity for XRP, allowing the cryptocurrency to resume trading on major cryptocurrency exchanges that delisted it during the SEC’s 2020 litigation.

Grayscale and Coinbase strongly oppose SEC

On August 29, 2023, Grayscale, the world's leading crypto asset management company, won the lawsuit against the U.S. SEC. The D.C. Circuit Court of Appeals made a final ruling to the regulator, ending the rejection of the asset management company's spot Bitcoin ETF application.

Similarly, Coinbase, one of the largest cryptocurrency exchanges in the United States, filed a lawsuit against the SEC in April 2023, aiming to force the regulator to provide clear regulation for the cryptocurrency industry.

Subsequently, the SEC sued Coinbase on June 6, 2023, alleging that the cryptocurrency exchange violated securities laws by operating as an unregistered broker. As a result, Coinbase formally requested the court to dismiss the SEC's lawsuit against it. However, the case is still ongoing.

Are there any other major events you think should be added? Feel free to leave a message in the comments section! #加密行业 #重大事件