In this issue of the Bloomberg Crypto newsletter, Emily Nicolle takes stock of Bitcoin’s latest rally:
A funny thing happened while Sam Bankman-Fried’s criminal trial was on pause this week: Bitcoin surged to briefly top $35,000, its highest point since May 2022. To refresh your memory, that was the month that the multibillion-dollar crypto pair of TerraUSD and Luna blew up. The collapse in turn kickstarted a cascade of defaults, bankruptcies and enforcement actions (including the case against SBF, who claims innocence), which has dominated the sector’s last 18 months.
