This is what happened in crypto today.

This Is What Happened In Crypto Today.


The sentencing of a pair of former FTX executives was scheduled for October and November of this year. Meanwhile, more German bitcoin is on the move, the price is more bullish, and two Wall Street asset managers have updated their offering for a spot Ether exchange-traded fund.

Sentencing of former FTX executives set for fall

The US federal judge who oversaw the trial of former FTX CEO Sam Bankman-Fried has scheduled a sentencing hearing for Gary Wang and Nishad Singh later this year.

According to a July 9 filing in the Southern District of New York, Judge Lewis Kaplan said Singh will be sentenced on October 30 and Wang on November 20. Gary Wang was the co-founder of the defunct crypto exchange, Singh served as the company's director of engineering during the company's failure.

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SDNY Docket Source: PACER

Wang is the first to plead guilty to his role in the FTX collapse. In the year

The collapse of FTX also resulted in the former CEO of FTX Markets, Ryan Salame, being sentenced to 7.5 years in prison in May of this year.

German Government Prepares Next $276 Million BTC Sale

The German government continued its Bitcoin (BTC) sale after sending 3,100 BTC worth nearly $178 million in one hour on July 9.

At the same time, the government cleared BTC holdings from the exchange, withdrawing 1,700 Bitcoin worth about $91.78 million from Bitstamp.

At the time of writing, the German government has withdrawn an additional 3,107 BTC from its holdings, presumably in preparation for further future sales.

The main government address currently holds about 26,000 BTC worth $1.5 billion, the address used to download cargo currently holds 4,800 BTC worth $276.61 million.

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Arkham Intelligence trading information on a monitored address for the German government. Source: Arkham Intelligence

VanEck, 21Shares files S-1 amendments with SEC

Asset managers VanEck and 21Shares have filed their S-1 filings with the US Securities and Exchange Commission (SEC) to list their Ether ETF shares.

According to filings filed July 8, VanEyck amended its registration statement as part of the asset manager's ongoing efforts to obtain approval from the SEC for the spot ether ETF. Meanwhile, 21Shares made a similar filing for the Core Ethereum ETF. Both did not specify a date for the submission to begin for their products.

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The amendments are part of the final approval process required by the securities regulator before spot ETFs can be listed and traded. As Cointegraph reports, Bitwise filed its own updated registration last week.

Next month, SEC Chairman Gary Gensler said approval of the S-1 filings was expected “sometime this summer,” but he did not specify a date.

Additional reporting by Felix Ng, Sam Bourgi and Geraint Price

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