Weekly Briefing: FTX customers may get full payout thanks to Google & Amazon
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Here are the biggest headlines from this week.
The big tech race to seize the AI market could rocket FTX’s AI investments and provide sufficient funds to make customers whole.
As the SBF trial kicked off this week, his co-founder took the stand to reveal details about the commingling of customer deposits carried out by SBF’s associates.
After a muted debut of Ethereum futures ETFs, crypto analysts suggest rotating into Bitcoin.
Let’s get right to it.
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Today’s Newsletter
- FTX customers may get full payout thanks to Google & Amazon.
- FTC CTO testifies against SBF, admits Alameda used customer funds.
- Time to rotate back from Ethereum to Bitcoin says new research report.a
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Markets
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Data powered by CoinGecko.
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Top Stories
EXCHANGES
FTX customers may get full payout thanks to Google & Amazon
FTX’s early investment in AI startup Anthropic may allow FTX customers to eventually recover lost funds.
With Google and Amazon now investing billions in Anthropic amid the AI gold rush, FTX’s stake could be worth up to $4.5 billion. [link]
EXCHANGES
FTX CTO testifies against SBF, admits Alameda used customer funds
Former FTX CTO Gary Wang testified against Sam Bankman-Fried, admitting he helped enable Alameda Research to secretly access FTX customer deposits.
Wang’s confession supports prosecutors’ charges that SBF misused billions in client money to support Alameda’s trading. [link]
MARKETS
Time to rotate back from Ethereum to Bitcoin says new research report
A new report from K33 Research recommends rotating from Ethereum into Bitcoin after the recent Ether futures ETF launch saw weak trading volumes.
With institutions not yet demonstrating major unsatiated demand for Ethereum, the report suggests reducing elevated ETH exposures and rotating back into BTC until broader sentiment improves. [link]
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