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The latest price moves in bitcoin (BTC) and crypto markets in context for Aug. 30, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

A recap of the crypto market from August 11th to 17th.

Bettors were fairly sure the Telegram CEO would be released in September. His release on Wednesday tossed the market on its head.

Pavel Durov is a free speech hero, but Telegram is far from a perfect free speech platform, writes CoinDesk’s Ben Schiller.

Durov’s arrest stems from a warrant issued by France’s OFIM, an office that works to prevent violence against minors, as part of a complaint into Telegram’s lack of moderation and cooperation with law enforcement.

In 2020, the Financial Crimes Enforcement Network proposed imposing know-your-customer requirements on unhosted wallets, drawing immense backlash from the crypto industry. This week, the Treasury Department formally withdrew the proposal.

Crypto custody upstart Qredo has got a new lease of life after being bought out of administration by Dan Tapiero’s 10T Holdings and 1RoundTable Partners. The company is soon to relaunch as Zenrock.

Some traders expect market movements nearer to Friday when Federal Reserve chair Jerome Powell is scheduled to speak at the Jackson Hole symposium.

Filings show he has over $1 million in Ether.

The Circle CEO cited prior bi-partisan work on stablecoin legislation and FIT21 as proof crypto doesn’t belong to a particular political party