New York, October 26, 2023 – The trial of former FTX CEO Sam "SBF" Bankman-Fried is gripping the cryptocurrency community with its shocking revelations. Lawyers sparred, witnesses broke down, and Judge Kaplan's frustration was palpable.Highlights:October 26: Tension soared as FBI Agent Mark Troiano exposed secretive Signal groups linked to Bankman-Fried. Lack of transparency left a bitter taste.October 19: Former FTX counsel Can Sun revealed internal strife, unveiling betrayal and broken trust within FTX. Fabricated balance sheets painted a picture of shattered integrity.October 18: District Judge Kaplan's impassioned plea for honesty struck a chord, reflecting the public's sentiment. Emotional turmoil peaked as BlockFi's financial losses highlighted the human cost behind crypto decisions.The trial continues, laying bare the highs and lows of the crypto world. Stay tuned for more #sbf #BTC #etf

The author of Rich Dad Poor Dad lists Kevin O’Leary and CNBC’s Jim Cramer among the famous investors fooled by former FTX CEO Sam Bankman-Fried. 
Read more on: https://thecryptobasic.com/2023/10/28/rich-dad-poor-dad-author-robert-kiyosaki-lists-2-famous-investors-sbf-fooled/
#sbf #crypto #crypto2023 #cryptonews

Bitcoin's recent strong performance at least in part is due to optimism regarding the imminent launch of multiple spot ETF products.It's not surprising that analysts expect to see negative short-term price action if a bitcoin spot ETF is rejected by the SEC.Analysts, however, pointed out that bitcoin certainly doesn't hinge its existence on an ETF.It's no surprise that analysts believe there would be at least some negative short-term price impact on SEC rejections, but what to expect following the knee-jerk reaction?“We could see a move downward and the target could be below $30,000,” said Laurent Kssis, a crypto trading adviser at CEC Capital.Any decline, Kssis noted, would have to be balanced against other bullish catalysts, such as the approaching halving. “A cluster at $25,000 is highly unlikely unless the SEC is categorical, but I sense it will be a back-to-the-drawing-board situation and hope will still be in the back of everyone's mind.”“If the ETF doesn't get approved, I anticipate it would be a significant letdown for the market," said Martin Leinweber, a product strategist at MarketVector Indexes. "The spot Bitcoin ETF is often viewed as a hallmark of institutional acceptance and integration into mainstream financial systems."Leinweber added that a rejection might also trigger some legal turmoil for the SEC, which in June suffered a major court loss when it was ruled the agency was "arbitrary and capricious" in its rejection of Grayscale's attempt to convert its Bitcoin Trust (GBTC) into a spot ETF. The SEC in October notably failed to appeal the ruling, helping to lead to current expectations of coming approvals.Leinweber notes that bitcoin, as a decentralized entity, certainly doesn't hinge its existence on an ETF, but “a rejection would undeniably cast a bearish shadow on bitcoin’s price in the short term.”“I believe that the absence of an ETF would impose a substantial drag on the crypto market," he said. "It would necessitate a period of adjustment and realignment, as the market would need to decouple and forge a new narrative moving forward."Other crypto assets such as ether (ETH) would likely not be immune to these repercussions, according to Leinweber, especially considering that the SEC would next shift its focus to the spot ether ETF applications.Bullish action goes beyond ETF“In the case that a spot ETF isn’t approved soon, we believe Bitcoin’s 2024 investment case remains very strong," said Hashdex’s CIO, Samir Kerbage. "More investors are beginning to appreciate the benefits of bitcoin as a store-of-value asset or type ofdigital gold.”Kerbage also noted that the next Bitcoin halving is approaching and “if history once again rhymes, the price of BTC will react positively to this scheduled reduction in supply."“Regardless of when a spot bitcoin ETF is approved, the outlook for the world’s first and largest cryptocurrency has never been stronger," he concluded. #etf #BTC #xrp #PYUSD #sbf

The future of XRP, a digital asset associated with Ripple, is subject to various factors, and its trajectory is influenced by ongoing developments, adoption, and regulatory changes. Here are some potential scenarios for the future of XRP:
Regulatory Clarity: Regulatory clarity will play a significant role in shaping XRP's future. The resolution of the legal issues Ripple currently faces with the U.S. Securities and Exchange Commission (SEC) will be a critical factor. A favorable outcome could provide more certainty and potentially lead to broader adoption.Global Adoption: XRP has been used in cross-border payments and remittances, offering the advantage of speed and cost-efficiency. Increased adoption by financial institutions and payment service providers could drive demand and use cases for XRP.Interoperability: Efforts to enhance interoperability with various blockchains and payment networks may expand XRP's utility. This interoperability can make XRP a more versatile asset for cross-border transactions and settlements.Central Bank Digital Currencies (CBDCs): The rise of CBDCs may impact XRP's role in the financial ecosystem. Depending on how central banks implement and utilize digital currencies, XRP may find use cases in facilitating cross-border transactions between different CBDCs.Technological Advancements: Ongoing developments, such as the Flare Network, may expand XRP's capabilities. Smart contracts and decentralized applications (dApps) built on the XRP Ledger could open up new use cases beyond payments.Market Volatility: The cryptocurrency market is known for its volatility. XRP's price and adoption may continue to experience fluctuations, influenced by market sentiment, trading volumes, and macroeconomic factors.Community and Developer Support: A dedicated community and active developer support can drive innovation and improvements in the XRP ecosystem. The engagement of stakeholders will be crucial for its long-term success.Competition: XRP competes with other digital assets in the payments and remittances sector. Competition from other cryptocurrencies and stablecoins may impact its market position.Cross-Border Remittances: The future may see XRP playing a role in facilitating cross-border remittances, particularly in regions with limited access to traditional banking services.Environmental Concerns: Environmental considerations, such as energy consumption in XRP's consensus mechanism, may influence its adoption. Sustainability and energy-efficient alternatives may become more important.
It's important to note that the future of XRP, like other cryptocurrencies, is subject to uncertainty and change. Market dynamics, technological developments, regulatory decisions, and global adoption will all play a role in shaping its path. As with any cryptocurrency, potential investors and users should conduct thorough research, consider the risks, and stay informed about developments in the XRP ecosystem.
$BTC $ETH $XRP
#XRPFuture #etf #xrp #sbf #sbf