Sam Bankman-Fried In FBI Custody, Elison & Wang Plead Guilty – December 22

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $16,671

Bitcoin price has continued to trade with minimal volatility over the last 24 hours, once again sticking to a narrow range of around $210.

Top-20 altcoins have been marginally more exciting, as Ethereum falls 1%, BNB drops 3% and Dogecoin stands out with a 3% gain.

Top Stories for December 22, 2022 πŸ”₯

πŸ‘‰ Sam Bankman-Fried In FBI Custody, Elison & Wang Plead Guilty

FTX founder Sam Bankman-Fried is now in FBI custody, while co-founder Gary Wang and Alameda Research CEO Caroline Ellison have pleaded guilty to criminal charges. according to the US Attorney for the Southern District of New York.

The SEC has also filed charges against Ellison and Wang, alleging that they defrauded investors and schemed to manipulate the price of the FTX exchange token, FTT. The also allege that the two played an active role in using FTX customer funds to prop up Alameda.

πŸ‘‰ Volatility May Return To Crypto As Whale Accumulate BTC

Bitcoin has traded mostly between $16,000 and $18,000 since early November, its lowest level of realized volatility since Q3 2020 – prior to the previous bull-run.

Before that, the last time this level of volatility was seen was at the bottom of the 2018 bear market, according to Blockware’s weekly report.

Large wallets appear to have accumulated more than 400,000 BTC since price fell below the $18,000 level, worth around $6.73 billion at market prices.

πŸ‘‰ Retiring US Senator Toomey Introduces Stablecoin Bill

Senator Pat Toomey, who plans to retire from US congress at the end of the term, has introduced a new stablecoin bill in his final weeks that aims to create a regulatory framework for the tokens.

If passed by congress, the bill would let non-state and non-bank institutions issue stablecoins, as long as they obtain a federal license issued by the US Office of the Comptroller of the Currency (OCC), and the stablecoins are backed with high-quality liquid assets.