Caroline Ellison’s Sentencing, BNY's Crypto Custody Exemption: Weekly Recap

Welcome to this week's crypto roundup! In today's recap, we cover Caroline Ellison's sentencing in the FTX fraud case, BNY becoming the first bank to receive an SEC exemption for crypto custody, and Kamala Harris making her first remarks on crypto while outlining her economic policy. We'll also dive into SEC Chair Gary Gensler facing tough questions on crypto regulation, TrustToken and TrueCoin settling with the SEC, and Polymarket seeking $50 million in funding amid election betting fever. Plus, we’ll discuss PayPal’s PYUSD market cap drop on Solana, Grayscale’s Ethereum Trust experiencing large outflows, and Sky reconsidering offboarding Wrapped Bitcoin. 🔥 EPISODE LINK 🔥 CHECK OUT THE EPISODE LINKS AND DETAILS HERE 👉 👈 Caroline Ellison Receives Two-Year Sentence: The former Alameda Research CEO is sentenced to two years in prison for her role in the FTX fraud, with her cooperation playing a key role in Sam Bankman-Fried’s conviction. BNY Secures SEC Crypto Custody Exemption: BNY becomes the first bank to receive an SEC exemption from strict crypto custody rules, paving the way for broader digital asset services. Kamala Harris Talks Crypto and Blockchain: The presidential candidate makes her first public remarks on crypto, highlighting the importance of U.S. dominance in emerging technologies like blockchain and AI. Gary Gensler Grilled Over Crypto Regulation: SEC Chair Gensler faces intense scrutiny from Congress about his enforcement-first approach to regulating digital assets. TrustToken and TrueCoin Settle with SEC: The two companies settle allegations of misrepresenting the reserves backing TrueUSD, agreeing to pay penalties and disgorgement fees. Polymarket Eyes $50 Million Funding Amid Election Bets: The prediction platform seeks $50 million in new funding as election-related bets drive high trading volumes, but concerns linger over its post-election future. PayPal’s PYUSD Stablecoin Declines on Solana: PYUSD experiences a sharp 42% decline in market cap on Solana as reduced incentives lead to waning user interest. Grayscale’s Ethereum Trust Sees Large Outflows: Grayscale’s Ethereum Trust experiences its largest single-day outflow since July, as Ether investors take profits on recent gains. Sky Reconsiders Offboarding Wrapped Bitcoin (WBTC): Following discussions with BitGo, Sky is reconsidering its decision to offboard WBTC as collateral, reducing concerns over Tron founder Justin Sun’s involvement in its custody. _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies ++++++++++++++++++++++++++++++++++++++++++++++++ Subscribe to our channel! CHECK OUT THE CRYPTOPIANS → www.youtube.com/watch?v=DFzunC... WEBSITE → unchainedcrypto.com UNCHAINED DAILY NEWSLETTER → unchainedcrypto.substack.com LAURA'S TWITTER → twitter.com/laurashin UNCHAINED TWITTER → twitter.com/unchained_pod FACEBOOK → www.facebook.com/unchainedwith... INSTAGRAM → www.instagram.com/laurashin/?h... LINKEDIN → www.linkedin.com/in/laurashin MERCHANDISE → unchainedpodcast.company.site ++++++++++++++++++++++++++++++++++++++++++++++++ NEW EPISODES OF UNCHAINED EVERY TUESDAY AND FRIDAY! ALONG WITH BITS & BIPS AND THE CHOPPING BLOCK Apple → podcasts.apple.com/us/podcast/... Spotify → open.spotify.com/show/1cJrrfGY... RSS Feed → feeds.megaphone.fm/LSHML476194... YOUR NO-HYPE RESOURCE FOR ALL THINGS CRYPTO!