• Sam Bankman-Fried, the disgraced co-founder of FTX, is seeking access to crypto assets associated with FTX and Alameda Research.
• His legal team has requested the removal of two bail conditions that were imposed by the Southern District of New York (SDNY) judge Lewis Kaplan.
• These conditions include a prohibition on Bankman-Fried speaking with certain people, as well as restrictions on his ability to transfer crypto assets.

Sam Bankman-Fried, the disgraced co-founder of FTX, is seeking access to crypto assets associated with FTX and Alameda Research. According to a letter written by his attorney, Mark Cohen, Bankman-Fried’s legal team has requested the removal of two bail conditions that were imposed by the Southern District of New York (SDNY) judge Lewis Kaplan.

Bankman-Fried was indicted by a federal grand jury in Manhattan and faces eight charges, including wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, money laundering, conspiracy to defraud the Federal Election Commission, and campaign finance violations. The former FTX CEO was released on bail and the court’s Judge Kaplan imposed certain bail restrictions on Bankman-Fried.

The first of these conditions is that Bankman-Fried is currently prohibited from speaking with Caroline Ellison, Gary Wang, Nishad Singh, two redacted witnesses, and George Lerner (Bankman-Fried’s therapist). Cohen, a white-shoe lawyer who represented Ghislaine Maxwell during her recent sex trafficking case, argues that this condition is „overbroad“ and Bankman-Fried’s intentions to contact these individuals are attempts to „offer assistance in FTX’s bankruptcy process.“

The second condition involves restrictions on Bankman-Fried’s ability to transfer crypto assets. Currently, Bankman-Fried is not allowed to transfer crypto assets without prior permission from the court, and any transfers must be reported to the SDNY. Cohen argues that this condition should be removed, as it is „unreasonable“ and the defendant’s crypto assets are not related to the charges against him.

It remains to be seen if the court will accept Cohen’s arguments and remove the bail conditions. Until then, Bankman-Fried will be restricted from speaking with certain people, as well as transferring crypto assets without prior permission from the court.

• Bitcoin surged to a five-month high to start the weekend, rising above $23,000.
• Ethereum also rallied, hitting its strongest point since September.
• The resurgence of bullish momentum on Saturday could lead to further gains this weekend.

Cryptocurrency markets saw a surge in bullish sentiment to start the weekend, as Bitcoin (BTC) climbed to a five-month high, while Ethereum (ETH) hit its strongest point since September.

BTC/USD raced past the $23,000 level, with prices climbing to an intraday peak of $23,249.89 earlier today. This marks the highest level since August 24, when the world’s largest digital currency was trading at a top of $23,600. The surge also pushed the 14-day relative strength index (RSI) back towards a ceiling of 90.00, currently sitting at the 86.30 level. As of writing, BTC is trading at $22,902.03, which is still roughly 9.27% higher than yesterday’s low.

Ethereum also had a strong showing, as ETH/USD hit a high of $1,674.18 earlier in the day. This comes following a bottom of $1,550.03 on Friday and recaptures a high not seen since September 13, which is the last time it traded over $1,700. The move has pushed the 10-day (red) moving average back into an uptrend, extending its distance from its 25-day (blue) counterpart. Overall, ethereum is up 6.28% as of writing.

The resurgence of bullish momentum on Saturday has traders hopeful for further gains this weekend. Cryptocurrency markets have been largely quiet over the past few weeks, with bitcoin in particular trading in a tight range since the middle of November. Should the current rally continue, the next major resistance for bitcoin will be the $24,000 level, while ethereum could test the $1,800 mark.

Regardless, today’s surge is a welcome sign for crypto investors, who have been eagerly awaiting a continued rally. With the weekend still in its early stages, it will be interesting to see how long this bullish sentiment can last.

• Bitcoin (BTC) surged to a fresh two-month high on Jan. 14, trading above $21,000.
• Ethereum (ETH) also hit a two-month high, trading above $1,500.
• Both cryptocurrencies saw strong bullish momentum, with prices rising for a sixth consecutive day.

On Saturday, January 14th, the crypto markets were on fire as Bitcoin (BTC) and Ethereum (ETH) both hit two-month highs. BTC/USD jumped above the $21,000 level, rallying for a sixth straight day. This surge in price saw bitcoin add as much as 10% to its value in the last 24 hours, hitting its strongest point since November 5 in the process.

The world’s second largest cryptocurrency, Ethereum (ETH) also experienced strong bullish momentum, with prices rising for a seventh consecutive day. ETH/USD moved to an intraday high of $1,558.25, which is its highest point since November 5. Overall, ethereum is now trading over 23% higher in the last seven days.

The bullish momentum for both Bitcoin and Ethereum was further reflected in their respective 14-day relative strength index (RSI) readings. The RSI for BTC is currently tracking at 89.22, which is its highest point in two years. For ETH, the 10-day (red) moving average extended a crossover of its 25-day (blue) counterpart.

The rally in Bitcoin and Ethereum has been supported by a surge of institutional interest in the crypto markets. With more large-scale investors getting involved, many analysts are expecting further upside in prices as we move into 2021. For now, it looks like the crypto markets are in a strong bullish trend and it will be interesting to see where prices go next.

• Bitcoin (BTC) moved closer to the $17,000 level to start the weekend, as traders continued to react to the latest U.S. nonfarm payrolls (NFP) data.
• Ethereum (ETH) was also higher on Saturday, with prices nearing a three-week high.
• The 10-day (red) moving average closed in on a crossover with its 25-day (blue) counterpart, while the 14-day relative strength index (RSI) also rallied, climbing above a key resistance point at 50.00

The weekend trading session saw the crypto market rally, with Bitcoin and Ethereum both surging higher. Bitcoin moved closer to the $17,000 level, driven by the release of the US nonfarm payrolls (NFP) data. The December payrolls came in at 223,000, which was better than the 200,000 markets had expected, and traders reacted positively to this news.

On the technical side, Bitcoin saw an upwards crossover of moving averages, with the 10-day (red) trend line moving higher versus the 25-day (blue) line. This, coupled with the 14-day relative strength index (RSI) rallying, and climbing above a key resistance point at 50.00, suggested bullish momentum for the cryptocurrency.

Meanwhile, Ethereum was also higher on Saturday, with prices nearing a three-week high. The 10-day (red) moving average closed in on a crossover with its 25-day (blue) counterpart, and the 14-day relative strength index (RSI) also rallied. This suggested that the buying pressure was strong, and the cryptocurrency was on track to potentially break through the $1,300 level.

Overall, the weekend session showed that the bullish sentiment in the market was strong, and the two major coins were likely to continue their upswing. With traders reacting positively to the US NFP data, and technical indicators suggesting further upside, this could be the beginning of a new rally in the cryptocurrency market.

• As of November 2022, Kenyan fintechs accounted for 30.2% or 93 out of 308 tracked tech startups.
• The fintech sub-sector alone accounted for 3,100 or 27% of the 11,462 people employed by tech startups.
• Remittances (24%) and lending and financing (21%) appear to be the more popular categories for Kenyan fintechs.

In a recent study conducted by Disrupt Africa, it was found that many Kenyan tech startups are in the fintech sector. As of November 2022, there were 308 tracked tech startups, with fintechs accounting for 30.2% or 93 of them. This is almost triple that of the nearest challengers, agri-tech and e-health, which both accounted for 10.1%. Furthermore, the fintech sub-sector alone accounted for 3,100 or 27% of the 11,462 people that were employed by tech startups during the same period.

This is not surprising, according to the report, as fintech ventures are solving fundamental problems for the populace and offer attractive returns for investors. It also noted that remittances and lending and financing were the more popular categories for Kenyan fintechs, accounting for 24% and 21% respectively. This is likely due to the fact that these areas cover many financial needs that people have.

Apart from fintechs, the study also found that agri-tech and e-commerce accounted for more than a thousand employees. These tech sub-sectors are also playing a role in improving the lives of many people in Kenya and helping to drive the country’s economy.

Overall, the findings of the study have shown that the fintech sector is playing a major role in the Kenyan tech startup space. It is encouraging to see that more and more people are turning to tech to solve their financial problems and that there are plenty of companies out there that are providing innovative solutions.