{"id":593996,"date":"2023-01-04T11:50:12","date_gmt":"2023-01-04T17:50:12","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/01\/04\/sbf-pleads-not-guilty-class-action-filed-against-genesis-voorhees-eyes-2026-bull-run-cryptoslate-wrapped-daily\/"},"modified":"2023-01-04T11:50:12","modified_gmt":"2023-01-04T17:50:12","slug":"sbf-pleads-not-guilty-class-action-filed-against-genesis-voorhees-eyes-2026-bull-run-cryptoslate-wrapped-daily","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/01\/04\/sbf-pleads-not-guilty-class-action-filed-against-genesis-voorhees-eyes-2026-bull-run-cryptoslate-wrapped-daily\/","title":{"rendered":"SBF pleads not guilty, Class action filed against Genesis, Voorhees eyes 2026 bull run \u2013 CryptoSlate Wrapped Daily"},"content":{"rendered":"
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\"SBF SBF pleads not guilty, Class action filed against Genesis, Voorhees eyes 2026 bull run \u2013 CryptoSlate Wrapped Daily<\/span> News Desk \u00b7<\/span> 18 hours ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n

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SBF will live with parents until October as trial date is set, Genesis under fire from customers, and Erik Voorhees looks to 2026 for the bull market to return<\/p>\n

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2 min read<\/span><\/p>\n

Updated:<\/span> January 3, 2023 at 11:25 pm<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\"SBF<\/p>\n

Cover art\/illustration via CryptoSlate<\/p>\n<\/div>\n<\/div>\n

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\"Haru <\/a><\/p>\n

The biggest news in the cryptoverse for Jan. 3 is dominated by SBF entering his \u2018not guilty\u2019 plea, Genesis hit by class action lawsuit, Bithumb chairman found not guilty, and more in this CryptoSlate Wrapped Daily.<\/em><\/p>\n

CryptoSlate Top Stories<\/h2>\n

SBF free on bail for 10 months until trial in October as he pleads not guilty<\/a><\/h3>\n

Sam Bankman-Fried, the founder of FTX,\u00a0pleaded<\/a>\u00a0not guilty to the eight charges filed against him at his hearing at the New York US District Court on Jan. 3.<\/p>\n

Furthermore, SBF has\u00a0requested<\/a>\u00a0the court redact the names of the co-signers of his bail, citing privacy and safety concerns of the individuals, according to the latest filing.<\/p>\n

The other people linked with the case, former Alameda Research chief executive Caroline Ellison and FTX chief technology officer Gary Wang have\u00a0pleaded guilty<\/a>\u00a0to fraud charges in cooperation agreements.<\/p>\n

Crypto OG Erik Voorhees predicts bull market return by 2026<\/a><\/h3>\n

Crypto pioneer and CEO of ShapeShift, Erik Voorhees, predicted the bull market would return within six months to three years.<\/p>\n

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\u201cIt won\u2019t be ten years. If it takes ten years for the bull market to happen, probably the whole thing failed. I\u2019m happy bounding it that way. I would guess it\u2019s sometime in the next six months to three years.\u201d<\/p>\n<\/blockquote>\n

Summing up the issue, Voorhees said if few people opt for self-custody and intermediaries hold the majority of crypto wealth, \u201cwe will never escape the regulation\u201d and \u201cnever escape the need to trust humans.\u201d<\/p>\n

Gemini Earn users launch class arbitration against Genesis, DCG<\/a><\/h3>\n

Three users of Gemini Earn filed a class arbitration\u00a0case<\/a>\u00a0against Genesis Global Capital, Digital Currency Group (DCG), and Genesis Global Trading, with the American Arbitration Association on Dec. 30.<\/p>\n

The case also alleged that Genesis breached the Master Agreement on Nov. 16 and subsequently when it refused to return the assets of Gemini Earn users despite repeated requests. Genesis also breached its agreement by failing to pay the interest due to Gemini Earn users at the end of November, the case alleged.<\/p>\n

Lastly, the demand for arbitration claimed that Genesis engaged in the unregistered sale of securities, violating the Securities Act. The claimants are, therefore, seeking related damages.<\/p>\n

South Korean court finds former Chairman of Bithumb \u2018not guilty\u2019 of fraud<\/a><\/h3>\n

Lee Jung-hoon, the former chairman of the crypto exchange Bithumb, was acquitted by a South Korean court on Jan. 3.<\/p>\n

The 34th Division of the Criminal Agreement of the Seoul Central District ruled that the evidence presented was insufficient to incriminate Jung-hoon, as per a local news\u00a0report<\/a>.<\/p>\n

The South Korean acquittal of Jung-Hoon marks the assumed end of a long-drawn legal battle surrounding Bithumb.<\/p>\n

Research Highlight<\/h2>\n

Research: Only 150K Bitcoin remain in Future OI as switch to risk-off fast approaches<\/a><\/h3>\n

Bitcoin (BTC)\u00a0 began the year risk-off \u2014 as seen in Futures Open Interest (OI) Crypto-Margined metrics.<\/p>\n

The decline in BTC Futures OI percentage seen from July 2021 into 2022 portrayed a recovery into a risk-on narrative throughout 2022. However, starting at almost the lowest point in two years, risk is coming off the table fast as we begin 2023.<\/p>\n

Approximately 150,000 BTC remains in Futures OI \u2014 its lowest levels since April 2022 \u2014 as the risk-off trend decline continues to emerge.<\/p>\n

To further reveal the distinct switch away from BTC to risk-off and cash, the \u2018Cash-Margined\u2019 metric shows a constant incline since April 2021 to a current level of 327,000 BTC \u2014 backed by cash as the underlying asset.<\/p>\n

Biggest Gainers (24h)<\/h3>\n