ETF volumes are soaring Bitcoin makes a Top 10 list and binance faces a 10 Billion doll fine in Nigeria or are they These stories and more this week in Krypto hi I'm Nate Martin from 99 Bitcoins.com and here's what's happened This week in crypto after a remarkable 20% surge in bitcoin's price the sudden Influx of buyers for short-dated options Has increased Bitcoin volatility to its Highest since last year which could lead To Rapid and significant swings leverage Has also come back across various crypto Sectors including nfts Mining and defi Bitcoin derivatives open interest has Increased 90% since October in a Resounding comeback the total crypto Market cap has surged past $2 trillion Dollar fueled by positive Market Sentiment and continuous inflows into Spot Bitcoin ETFs the crypto market now Surpasses the market capitalization of Amazon and Google's parent company Alphabet surpassing a one trillion doll Market cap itself Bitcoin has joined the List of top 10 largest Assets in the World seven weeks after SEC approval Spot Bitcoin ETFs now hold 344,000 BTC in assets under management Worth over $ 21 billion black rocks Bitcoin ETF ibit experienced a record Bre breaking $612 million inflow in a Single day while the asset class hit $7.7 billion in trading volume further
Evidence that the success of the much Hyped ETFs is no longer in doubt Vanguard CEO Tim Buckley sudden Departure after 33 years has sparked Speculation about the firm's potential Entry into the Bitcoin ETF space despite Previously assessing Bitcoin as an Immature asset class its competitors Like black rock and Fidelity which have Embraced the ETFs are reaping Substantial profits raising questions as To what Vanguard with7 trillion under Management will do next bitcoin's recent Price surge is putting a spotlight on Impressive unrealized gains for the Biggest names in the industry although Micro strategy Holdings have doubled in Value since the approval of spot Bitcoin ETFs its chairman Michael sailor has Reaffirmed several times that the Company has no intention of selling President naib buk of El VV Ador also Defended his country's Bitcoin strategy With its unrealized profits exceeding $173 Million while the BBC has reported that Nigeria is seeking nearly 10 billion Dollar in fines from binance accusing The crypto giant of manipulating foreign Exchange rates through currency Speculation and rate fixing a Nigerian Government representative denies the Accuracy of the report seeing it draws Its conclusions from a misquotation of
The government statements he claims that There hasn't been a definitive decision Yet and that the fine is just a Possibility Nigeria is facing a currency Devaluation crisis with the naira losing 70% of its value which has spiked Interest in crypto Gemini the crypto Exchange owned by the winkl Vos twins Will return a minimum of $1.1 billion to Customers in a settlement with the New York Department of Financial Services Additionally the exchange faces a $37 Million fine for significant failures in Its Gemini earn program during the November 2022 crypto Crash a Bitcoin ordinal Trader faced a Costly fat finger error thinking he had Paid $1,300 for an nft that was actually Listed at $133,000 feeling embarrassed the trader Shared the incident on X urging caution To other ordinal Traders remarkably the Nft seller Dan Anderson saw the post and Offered to buy back the nft effectively Returning the funds that's what's Happened this week in crypto see you Next week if you enjoyed this video Leave us a thumbs up subscribe to the Channel and click the notification Bell So you don't miss a review news update Or the clearest information about Bitcoin and cryptocurrencies [Music] Anywhere