Another week, another record was broken by the top cryptocurrency in the world, Bitcoin, as it is now sitting comfortably at the $90,000 threshold and was close to breaking the $100,000 valuation leading this edition of CryptoWatch. Moreover, there was also the former chief technology officer of FTX, Gary Wang, who was not given a prison sentence after his recent hearing.
Lastly, get updated on the latest top coin prices available in the market after another massive week of improvements led by Bitcoin, Ethereum, XRP, and more which are enjoying a significant rise.
Bitcoin is Close to Achieving $100k, Now Lounging at $90k
Bitcoin
Vasilis Chatzopoulos on Unsplash
The cryptocurrency industry is booming in the market, with Bitcoin significantly leading the charge as it was seen rallying yet again last week and was close to achieving a $100,000 valuation. This massive climb by Bitcoin also reached a new all-time high at around $99,000 but was only a few hundred dollars short of breaking the wall as the market closed last weekend.
It was seen as an impressive feat after significantly climbing in the market last early November and according to the report by Bloomberg (via Yahoo Finance), its rise is still tied to President-elect Donald J. Trump’s massive rise.
Many are expecting that Bitcoin will soon break the $100,000 threshold after a significantly promising rally in the market only last week, and it is now closing into the new record expected by year’s end.
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Former FTX CTO Gary Wang Avoids Jail Time
The former FTX CTO Gary Wang has successfully avoided jail time after he was given by US District Judge Lewis Kaplan a free pass following a recent hearing in Manhattan, New York. Wang is known for his significant help to Bankman-Fried in defrauding FTX customers and investors by creating the program that allowed the former CEO to steal as much as $8 billion.
Reuters reported that SBF’s close ally was the last to know about the fraudulent actions by the executive, centering on the crimes that were being committed under everyone’s noses, back when FTX was still operating.
Wang, like Caroline Ellison, was known for testifying against Bankman-Fried during last year’s hearings and his testimonies helped in convicting the former CEO. However, unlike Ellison, Wang was not given a sentence to serve behind bars.
Top Coin Prices in the Market Now
Towards the last week of November, the cryptocurrency market saw another significant rise in the market for the third consecutive time, with Bitcoin and Ethereum leading the massive rally. Based on the charts by CoinMarketCap, all coins in the top ten list saw promising numbers over the past seven days except for the stablecoin USDC which saw a slight dip.
That being said, Cardano which took the ninth spot on the list was the top-performing crypto with a 42.98 percent climb over the past week.
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