Morgan Stanley's Bitcoin ETF Could Attract $160 Billion, Says Strategy CEO

William Lonergan Hill, co-founder of Samourai Wallet, was sentenced to four years in prison by a New York judge for operating an unlicensed money transmitter. His co-founder, Keonne Rodriguez, received a five-year sentence two weeks prior for the same offense.

Digital asset-focused stocks, including Circle, Strategy, and Bitmine, experienced significant drops, with Bitcoin falling below $88,600 for the first time since late April. Despite this, some companies like Nvidia reported strong earnings, leading to a rise in after-hours trading for certain firms.

A new Delaware statutory trust, the iShares Staked Ethereum Trust ETF, was registered by BlackRock, the world's largest asset manager, on November 19. This step is common for ETF issuers before filing with the SEC, as seen with other Ethereum staking ETFs in the U.S. Staking in Ethereum involves locking up tokens for network validation and rewards.

During the Senate confirmation hearing, CFTC Chair nominee Mike Selig received bipartisan support but avoided committing to advocating for more resources for the agency to regulate the expanding crypto market. Selig's refusal to address the need for additional staff or budget was notable, despite bipartisan calls for a larger CFTC budget.

A flood of spot altcoin exchange-traded fund listings is anticipated to begin trading soon, with Bitwise, Grayscale, and Franklin Templeton potentially launching XRP and Dogecoin ETFs. The recent surge in Solana and XRP fund unveilings has generated significant investor interest.

Jack Abramoff, a former lobbyist, received three years of federal probation and a $2.2 million restitution order for his involvement in a fraudulent scheme related to AML Bitcoin. Despite facing charges in 2020 for fraud, Abramoff avoided additional prison time due to his cooperation and health issues.

The crypto market is experiencing a significant downturn, with Bitcoin dropping over 20% in the last 30 days to around $88,000. Fear and Greed Index hit 16, indicating extreme fear, while most coins are in the red. Technical indicators suggest a bearish trend for both Bitcoin and Ethereum.

Coinbase has hinted at upcoming product announcements, including a prediction market and stock trading features, set to be revealed on December 17. Screenshots shared by Jane Manchun Wong suggest an integration with Kalshi for the prediction market and exploration of stock trading.

Tenaga Nasional Berhad revealed that illegal crypto-mining operations in Malaysia have caused a significant loss of $1.1 billion in electricity over five years. The state utility provider established a database to track premises involved in power theft related to Bitcoin mining activities.

Zcash (ZEC) has surged 31% in the past week, with Cypherpunk Technologies acquiring an additional 29,869.29 ZEC for $18 million. The firm now holds 233,644.56 ZEC, valued above $146 million, representing 1.43% of the total ZEC supply.