Latest Market Updates: As of 23rd April 2026.
Global crypto markets saw a mix of legal, regulatory, and mining developments today, with updates spanning the United States, Asia, and North America.
Ex-FTX CEO Withdraws Retrial Motion, Seeks New Judge
To begin with, former FTX CEO Sam Bankman-Fried has withdrawn his request for a new criminal trial. Despite this, his broader legal challenges remain active as he continues to pursue an appeal against his conviction and sentence.
According to filings submitted to the US District Court for the Southern District of New York on Wednesday, the withdrawal followed questions raised by Judge Lewis Kaplan regarding whether the motion had been independently prepared.
Those concerns stemmed from earlier prosecutorial claims in March suggesting the filing may have involved external assistance. Around the same period, a letter from Bankman-Fried’s mother, Barbara Fried, was also submitted to the court. However, she had no formal standing in the case.
In response, Bankman-Fried stated that he personally authored the motion. He also added that he had consulted his parents, given their familiarity with aspects of the case. However, he argued that the resulting scrutiny complicated his legal position.
Furthermore, he explained that addressing these allegations diverted attention from his response to prosecutors. Expressing concern about receiving an impartial review from the current judge, he decided to withdraw the motion. Nevertheless, he left open the possibility of revisiting it later.
For now, his appeal continues before the US Court of Appeals for the Second Circuit. Separately, his request to have a different judge assigned remains pending.
U.S. Banking Group Seeks More Time on Stablecoin Regulation Input
Meanwhile, regulatory discussions in the United States are accelerating, particularly around stablecoin oversight.
The American Bankers Association (ABA) has formally requested a 60-day extension to the public comment period on proposed stablecoin regulations linked to the GENIUS Act, which was signed into law in July 2025 by Donald Trump.
In a letter sent Tuesday to multiple U.S. agencies, including the Treasury Department, FinCEN, FDIC, and the Office of Foreign Assets Control, the group argued that additional time is necessary to provide meaningful feedback.
Additionally, the association emphasized that key details from the Office of the Comptroller of the Currency are still pending. Consequently, a full assessment of the regulatory framework remains difficult. While the FDIC has indicated that its proposals align with the OCC’s direction, the banking group maintains that clarity remains insufficient.
Under current provisions, the law will take effect either 120 days after final rules are issued or within 18 months of enactment, whichever comes first.
American Bitcoin Expands Mining Fleet in Canada
In the mining sector, American Bitcoin has significantly expanded its infrastructure with a major fleet upgrade in Alberta, Canada.
The company has activated 11,298 new mining machines at its Drumheller facility, marking a substantial increase in operational capacity.
With this expansion, the company now operates approximately 89,242 ASIC units. These machines are essential for mining Bitcoin and other proof-of-work (PoW) cryptocurrencies.
Consequently, total computing power has risen to around 28.1 exahashes per second (EH/s), alongside an average efficiency rating of 16 joules per terahash.
Thailand Proposes Easier Access to Crypto Derivatives Market
At the same time, regulators in Asia are working to refine their approach to digital assets. Specifically, in Thailand, the Securities and Exchange Commission has proposed expanding the country’s crypto derivatives market.
The proposal would allow licensed digital asset firms to apply directly for derivatives licenses. This would remove the current requirement to set up separate entities for such activities.
In addition, the framework would formally recognize digital assets as valid underlying instruments for futures contracts, a move expected to broaden market participation and product offerings.
The regulator noted that these updates are designed to improve oversight, reduce conflicts of interest, and bring Thailand’s framework closer to international standards.
The proposal is now open for public consultation until 20 May 2026, with industry feedback expected to shape the final version of the rules.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
