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<p style="text-align: justify">The agenda is not very busy, and the EU and US stock markets are closed for Christmas. However, we have seen some important developments. There is an atmosphere as if everyone has started a one-week holiday to prepare for the busyness of the first 15 days of January. <a href="https://en.coin-turk.com/bitcoins-rise-reasons-and-expectations/" data-wpel-link="internal">Bitcoin</a>‘s price is moving within a 1000 dollar range.</p> 
<h2 style="text-align: justify" id="what-s-happening-in-the-crypto-markets-today">What’s Happening in the Crypto Markets Today</h2> 
<p style="text-align: justify">FTX was at the forefront. Customers still haven’t received their <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">money</a>, and when compared to MTGOX, similar cases look concerning. FTX bankruptcy officers proposed a separate deal for the dissolved crypto exchange’s stock swap platform Embed. The deal was learned from the application file submitted to the United States Bankruptcy Court for the District of Delaware on December 22nd.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-293770 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/FTX.jpg" alt="" width="909" height="868"></p> 
<p style="text-align: justify">There is still no clear date for customer refund payments. The bankruptcy committee is not very successful in announcing dates. It was last said that it would be clear who FTX would be sold to by the beginning of December, but the month ended with no development or announcement. Legal obstacles, FTX’s bad image, and other reasons made experts skeptical about this sale.</p> 
<h3 style="text-align: justify" id="sec-sets-december-29-as-deadline">SEC Sets December 29 as Deadline</h3> 
<p style="text-align: justify">Exchange-traded funds (ETFs) will need to finalize their latest versions before the deadline set by the United States Securities and Exchange Commission (SEC). According to Reuters, SEC officials met on December 21st with representatives of at least seven firms hoping to launch spot Bitcoin ETFs in early 2024. Among those attending the meetings were representatives from BlackRock, Grayscale Investments, ARK Investments, and 21 Shares.</p> 
<p style="text-align: justify">The SEC, which wants the files to be finalized by the end of the month, could give approval at the beginning of January as expected. These file updates are related to in-kind/redemption issues, which we have explained at length before.</p> 
<h3 style="text-align: justify" id="spot-bitcoin-etfs-could-eliminate-bitcoin">Spot Bitcoin ETFs Could Eliminate Bitcoin</h3> 
<p style="text-align: justify">At least that’s what the former CEO of BitMEX thinks. One of the founders of the cryptocurrency exchange BitMEX in 2014, Hayes wrote in a blog post dated December 23rd that Bitcoin is valuable because it “moves,” but ETFs will keep it in place. Hayes is wrong, and if ETFs will take most of the supply to institutional custody wallets, then the price will reach six figures. In that case, it doesn’t matter to 99% of investors if <a href="https://en.coin-turk.com/digital-assets-see-third-consecutive-week-of-positive-inflows-reversing-previous-nine-week-exit/" data-wpel-link="internal">BTC</a> shows less volatility in a six-figure environment.</p> 
<p style="text-align: justify">In an extreme scenario, he talks about the spot Bitcoin ETF holding most or all of the circulating Bitcoin, which we have been saying is such an absurd perspective since BlackRock applied for a Spot BTC ETF in June. Hayes doesn’t always speak sensibly.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/recent-developments-in-the-cryptocurrency-markets/" data-wpel-link="internal">https://en.coin-turk.com/recent-developments-in-the-cryptocurrency-markets/</a>

Recent Developments in the Cryptocurrency Markets

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