The past week has been full of significant and controversial events for the cryptocurrency market, from Sam Bankman-Fried's fresh claim that FTX is bankrupt to Shiba Inu's (SHIB) big move to enter the US ETF market.
In his latest comments, the former FTX founder claimed that the exchange was not bankrupt at the time of the 2022 crash and had sufficient assets to reimburse users. He accused lawyers and new CEO John J. Ray of intentionally driving the exchange into bankruptcy.
However, court documents show that FTX affiliate Alameda Research secretly spent billions of dollars of users’ funds.
On the other hand, the bankrupt exchange Mt. Gox has postponed repayment of user debts until October 2026, prolonging the 11-year wait for victims.
On the international front, the Trump-Xi Jinping summit eased trade tensions and could help boost risk appetite in the crypto market, although some experts saw the meeting as a temporary pause rather than a real deal.
In more positive news, investment giant T. Rowe Price has filed an application with the Securities and Exchange Commission to launch its own cryptocurrency ETF, which would include Bitcoin, Ethereum, Dogecoin and, for the first time, Shiba Inu. If approved, this could legalize and broaden financial institutions’ access to the Shiba token.
Also, after years of criticism, JPMorgan CEO Jamie Dimon finally accepted the value of blockchain technology and announced the bank's use of internal blockchain systems.
Meanwhile, Western Union has taken another step towards launching a stablecoin based on the Solana network by registering the trademark “WUUSD.”
Finally, market participants celebrated Bitcoin's 17th anniversary last week, as the whitepaper published by Satoshi Nakamoto, the founder of the blockchain and digital currency era, became a reality.
