In a recent Senate Banking Committee hearing, Federal Reserve Chair Jerome Powell reassured lawmakers that the central bank has no privacy invasion intentions, even if it were to introduce central bank digital currency (CBDC) in the United States.

The U.S. Securities and Exchange Commission (SEC) has deferred its decision on approving options trading on spot Bitcoin exchange-traded funds (ETFs).

$5.2 billion cryptocurrency investment firm Pantera Capital, is looking to raise funds to buy deeply discounted Solana tokens from the collapsed FTX exchange. The firm is creating a “Pantera Solana Fund” with the goal of acquiring up to $250 million worth of discounted SOL.

Top stories in the Crypto Roundup today:

• Fed Chair Powell: No Immediate Plans for U.S. Central Bank Digital Currency
• SEC Delays Decision on Spot Bitcoin ETF Options Trading
• Pantera Capital Eyes Discounted Solana Tokens From Bankrupt FTX
• Crypto Market Movers – PEPE, FET, SHIB

Fed Chair Powell: No Immediate Plans for U.S. Central Bank Digital Currency

In a recent Senate Banking Committee hearing, Federal Reserve Chair Jerome Powell reassured lawmakers that the central bank has no privacy invasion intentions, even if it were to introduce central bank digital currency (CBDC) in the United States.

Powell emphasized that the Federal Reserve has no interest in a system that would allow it to view user data, noting that the central bank is “nowhere near recommending – or let alone adopting – a central bank digital currency in any form.”

Powell further clarified that if the Federal Reserve ever moved closer to creating a digital dollar, it would be the banking system, not the government, that would manage people’s accounts.

He firmly stated that the U.S. would not propose or tolerate a system where the government could see all of a person’s transactions, contrasting this stance with China, where user activity can be tracked through its digital currency.

Despite these assurances Republican politicians, including presidential candidate Donald Trump, have voiced strong objections to what they perceive as the federal government’s intention to launch CBDCs.

The Federal Reserve has, in the past, noted that a digital dollar would require explicit authorization from both Congress and the White House.

SEC Delays Decision on Spot Bitcoin ETF Options Trading

The U.S. Securities and Exchange Commission (SEC) has deferred its decision on approving options trading on spot Bitcoin exchange-traded funds (ETFs).

In a recent filing, the regulator extended its review period for the proposals submitted by Cboe Exchange and the Miami International Securities Exchange to offer options contracts on these Bitcoin ETFs.

The SEC also postponed its decision on Nasdaq’s application to provide options on BlackRock’s iShares Bitcoin Trust (IBIT), stating that the delay would ensure it has “sufficient time to consider” the request.

The exchanges had all submitted their applications to list Bitcoin ETF options on January 25. According to U.S. securities laws, the SEC has a 45-day window to either approve or defer a decision on these applications, with the initial deadline falling on March 10.

With this postponement, the SEC has gained an additional 45 days, reaching the maximum 90-day limit stipulated by law, to arrive at a final verdict. The SEC has indicated that the new deadline is April 24.

Pantera Capital Eyes Discounted Solana Tokens From Bankrupt FTX

$5.2 billion cryptocurrency investment firm Pantera Capital, is looking to raise funds to buy deeply discounted Solana tokens from the collapsed FTX exchange. The firm is creating a “Pantera Solana Fund” with the goal of acquiring up to $250 million worth of discounted SOL.

According to marketing materials, investors participating in the fund would have the chance to purchase these tokens at $59.95, a staggering 39% below the average price over the past 30 days. To secure the bargain, investors must commit to a lengthy vesting period, potentially lasting up to four years.

This strategy, Pantera believe, is a chance to capitalize on a discounted price and potentially profit as the Solana ecosystem continues to develop. For the FTX estate, overseen by bankruptcy liquidator John Ray III, selling these SOL tokens would free up funds to repay creditors, while minimizing any immediate downward pressure on the overall price of SOL.

The marketing materials suggest the FTX estate holds a significant amount of SOL – roughly 41.1 million tokens representing 10% of the total supply, valued at $5.4 billion.

The firm reportedly aimed to close the fund by the end of February and participation comes with a high entry barrier, as investors must contribute at least $25 million each. Pantera plans to charge a 0.75% management fee and a 10% performance fee on the fund.

Pantera isn't the only firm looking to capitalize on this opportunity. Phoenix Digital LLC, led by former Jefferies trader Tian Zeng, has established a similar vehicle aiming to buy SOL from FTX at an even steeper discount – $64 per token, representing a 51% discount.

Crypto Market Movers – PEPE, FET, SHIB

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Pepe (PEPE) - Pepe (PEPE) is a digital currency positioned as the next step in the evolution of meme coins, leveraging the memetic power of Pepe, a recognizable internet meme. Launched without any presale or taxes, PEPE aims to be a coin for the people, with its liquidity provider tokens burned and contract renounced.

Fetch.AI (FET) - Fetch.AI is a digital cryptocurrency that is part of a larger innovative project with a significant platform. Fetch.AI is an advanced, decentralized digital world where autonomous software agents perform useful economic work on behalf of their owners.

Shiba Inu (SHIB) – Shiba Inu is a decentralized memecoin inspired on the Shiba Inu dog meme. It was initially launched in late 2020 on the Ethereum network and has since seen its ecosystem grow with the launch of new tokens like LEASH and BONE, as well as a decentralized exchange and a layer-2 scaling solution.

State of the Crypto by Top Tier Exchange Volume

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