• Bitcoin had its best day in two months after the Consumer Price Index (CPI) report showed inflation slowdown.
• Sam Bankman-Fried, former chief of FTX, denied stashing away billions of dollars and gave his take on what happened to his bankrupt crypto exchange.
• Bankman-Fried is now free on bail and has been charged with conspiracy to commit fraud.
Bitcoin had its best day in two months on Thursday, as the Consumer Price Index (CPI) report showed a slowdown in inflation and extended the digital-asset rally taking place this week.
The surge in Bitcoin was also fueled by the news that Blockchain.com, a major cryptocurrency exchange, had cut staff, likely due to the current market downturn.
Sam Bankman-Fried, the disgraced former chief of FTX, a popular crypto exchange, denied stashing away billions of dollars and gave his take on what happened to his bankrupt crypto exchange in a lengthy post on Substack published Thursday.
Bankman-Fried denied stealing funds and claimed FTX and sister company Alameda Research collapsed because of the crypto market meltdown and inadequate hedging on Alameda’s part. He also said he “hasn’t run Alameda for the last few years.”
The former chief of FTX faces numerous federal charges including conspiracy to commit fraud, and is now free on bail awaiting his trial. He has maintained his innocence, and in his post on Substack, he said that “Alameda lost money due to a market crash it was not adequately hedged for.”
With Bitcoin prices up, investors and traders showed renewed confidence in the digital asset. The surge in Bitcoin prices and Bankman-Fried’s post on Substack were two of the major headlines driving the crypto markets today.