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Sam Bankman-Fried’s appeal court hearing saw skeptical judges

This week, the Second Court of Appeal heard arguments in Sam Bankman-Fried’s appeal of his criminal conviction. The three-judge panel appeared highly skeptical of his lawyer’s arguments. You’re reading State of Crypto, a CoinDesk newsletter that looks at the intersection of cryptocurrency and government. Click here to sign up for future editions. The narrative FTX

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ETF Catalyst positions ripple for next leg higher towards $2.80

XRP rose 3.6% to $2.31 in Saturday trading, breaking above key resistance at $2.28 as ETF momentum and network growth fueled renewed institutional interest. Volume surged 86% above its 24-hour average during the breakout, lifting the token to its strongest close in over a week, while outperforming Bitcoin and Ethereum amid muted broader market activity.

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Breaks Into Top-20 Cryptos, Hits $600 For First Time Since 2018

Zcash ZEC$647.41 has climbed back into crypto’s top 20 largest tokens by market capitalization, trading above $600 for the first time in nearly seven years. The privacy-focused token has gained more than 1,270% year-over-year, according to CoinGecko data, pushing its market cap to just under $10 billion. The rally coincides with renewed attention to privacy

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Elon Musk $1 Trillion Pay Vote Sparks ‘TRILLIONS’ Token Frenzy

Memecoin traders have found their next muse as Tesla board members approved a $1 trillion pay package for CEO Elon Musk. Within hours of shareholders approving the deal on Thursday, at least half a dozen new tokens with names like “TRILLIONS,” “Elon’s $1” and “MUSK” flooded decentralized exchanges on Solana, Ethereum, BNB Chain and other

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Japan’s FSA to support the country’s 3 largest banks in Stablecoin issuance

Japan’s Financial Services Agency (FSA) said it will support the country’s three largest banks in developing a proof-of-concept to issue a stablecoin. Japan’s financial regulator said the company will see Mitsubishi UFJ Financial Group (8306), Sumitomo Mitsui Financial Group (8316) and Mizuho Financial Group (8411) explore the joint issuance of a stablecoin as an electronic

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US Fed’s Miran says policy needs to adjust for Stablecoin boom that could reach $3T

US Federal Reserve Governor Stephan Miran, the newest member of the board following his recent confirmation, pointed to stablecoins and the potential for their explosive growth — especially by foreign users — to have major implications for monetary policy. “Stablecoins could become a multitrillion dollar elephant in the room for central bankers,” Miran said in

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