The Block
Quick Take Caroline Ellison’s attorneys claimed she should not serve jail time for her role in FTX’s collapse. The attorneys advocated for a sentence of time served with a period of supervised release. Ellison will face sentencing on Sept. 24 in a New York courtroom.
On Tuesday, spot bitcoin exchange-traded funds in the U.S. posted total daily net inflows worth $117 million.Fidelity’s FBTC led with $63.16 million daily inflows among bitcoin ETFs.
BlackRock’s IBIT spot bitcoin ETF experienced heightened trading volumes of $1 billion in the first 20 minutes of trading the day after Donald Trump won the U.S. presidential election.Trump’s victory also sent bitcoin to an all-time high.
Arkham Research is launching an exchange for trading perps next week, marking its first foray directly into crypto trading.Perps, or perpetual swaps, are a type of derivative contract without an expiration date pioneered by the crypto industry.
Election-themed memecoins such as Peanut the Squirrel and Department of Government Efficiency have seen substantial gains in the past 24 hours following Donald Trump’s U.S. election victory.In contrast, PolitiFi memecoins like Super Trump, MAGA, and Doland Tremp have experienced notable declines during the same period.
Analysts at Bernstein said that crypto’s regulatory headwind had turned into a tailwind following Donald Trump’s election victory.The analysts also reiterated their call for bitcoin to approach $90,000 by the end of this year and reach a bull cycle target of $200,000 in 2025.
Less than $1,500 of WLFI tokens have been sold over the past 24 hours.World Liberty Financial’s WLFI has generated sales of $14.8 million since going live on Oct. 15.
Reaction from the crypto community to Donald Trump’s win in the U.S. presidential election was largely positive.However, those within the industry are eager for him to fulfill promises made during the campaign, including freeing Ross Ulbricht and firing SEC Chair Gary Gensler.
Pump.fun has recorded a new monthly all-time high in revenue generated with $30.5 million.The following is an excerpt from The Block’s Data and Insights newsletter.
In premarket trading, Coinbase and MicroStrategy saw significant gains while broader market futures surged in response to Donald Trump’s U.S. election victory.QCP Capital analysts noted that bitcoin has historically experienced sustained rallies following U.S. elections, with prices consistently reaching new highs. They expect this bullish momentum to continue into 2025.
