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Coinbase's Custody division has a new CEO ahead the United States Securities and Exchange Commission's decision on a spot Bitcoin exchange-traded fund (ETF). A Solana trader hit a $2M jackpot after putting $62 into a Solana memecoin called Silly Dragon. Meanwhile, a U.S. federal judge has sided with the United States Securities and Exchange Commission over accusations that Terraform Labs and Do KwonARK Invest liquidated its entire remaining Grayscale Bitcoin Trust (GBTC) holdings worth $200 million on Dec. 28, and Marathon Digital rocketed to the top of the U.S. stock charts in trading volume just weeks ahead of an anticipated Bitcoin ETF approval.

Coinbase Custody changes leadership ahead of spot Bitcoin ETF decision
According to Bloomberg, Coinbase has replaced the leadership of its Custody division ahead of the U.S. Securities and Exchange Commission's (SEC) spot Bitcoin ETF decision in January.

Aaron Schnarch has reportedly resigned as chief executive officer of Coinbase Custody and is being replaced by Rick Schonberg, a senior executive who has been at the firm since 2022. Schonberg has career stops at Goldman Sachs, State Street and JPMorgan, among others.

A spokesperson for Coinbase reportedly told Bloomberg that the exchange is "prepared for ETF approval" and has systems in place "designed and tested to handle added trading volume" that's expected to materialize once a spot Bitcoin product gets approved.

To be sure, the SEC has not indicated that a spot Bitcoin product is forthcoming. However, Bloomberg ETF analyst Eric Balchunas believes it's likely that a spate of products will be approved around Jan. 9, 2024.

Trader hits $2M jackpot after putting $62 into a Solana memecoin
A Solana SOL$108 trader who started with a balance of only 1.5 SOL hit the jackpot after putting one token on a dragon-themed memecoin on the Solana blockchain.

On Dec. 27, blockchain analytics platform Lookonchain flagged a lucky trade where a Solana holder got hold of around $2 million after buying a memecoin. While the trader only had 1.5 SOL at the start, the user caught wind of Silly Dragon (SILLY), a meme token showcasing a “silly dragon” as its mascot, on Dec. 5.

Source - Coin Telegraph