Crypto News: Market Soars Ahead of Crucial U.S. Data Release

Crypto News Key Highlights:

  • This Friday, Deribit will witness a significant Bitcoin and Ether options expiry event, totaling $15.2 billion. Around $9.5 billion in Bitcoin options and $5.7 billion in Ether options will expire. With 40% of Bitcoin options expiring in-the-money, it's expected to heighten market volatility, potentially causing upward pressure before settling at a maximum pain point of $50,000 for Bitcoin.

  • The cryptocurrency community awaits the potential 30-year sentencing of FTX founder Sam Bankman-Fried amid the exchange's collapse. Expert predictions suggest severe repercussions, with billions in customer liabilities. Testimonies from affected users shape the sentencing decision. As Judge Kaplan deliberates, the gravity of financial crimes in crypto is underscored, promising accountability and transparency in the industry's future.

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