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Happy Monday and Welcome to Uptober Folks! Over the weekend 2500 ETH from last years FTX's exploit moved. Today, all eyes are focused on SBF and the start of his trial. 60 Minutes conducted an interview with him last night where it was revealed he was going to give Trump $5B not to run for President. Bitcoin is trading up at $28,309.46; blasting through $27K crushing the bears. Let's get on with the news...
SUMMARY
Q3 2023 crowned most ‘damaging’ quarter for crypto amid $700M losses. However, digital asset investment products recorded net inflows of $21 million for the first time in six weeks. Chainlink (LINK) creator Sergey Nazarov says that a failure of the banking industry and people’s subsequent disillusion about the traditional financial system could propel crypto into mass adoption mode.
BTC price hits ‘Uptober’ up 5% — 5 things to know in Bitcoin this week (Cointelegraph):
- Bitcoin bulls acknowledge BTC price reversal risk
- A classic “Uptober?”
- Difficulty due to come off record high
- Fed speakers headline macro diary
- Analysis turns positive on dollar liquidity
Bitcoin and the crypto market kicked off October with a bullish start, driven by a wave of liquidations and a $70M short squeeze. Bitcoin appears to be on the mend in October, a month noted for depicting strong bullish reversals. Since 2013, the lead cryptocurrency has finished October with gains eight out of ten times, fueling prospects for a positive month. Bitcoin sees early October gains as it rises above $28,000 and is displaying signs of bullish momentum, aiming for the $30,000 threshold following weeks of consolidation. Given the current price movement, investors are eager to identify potential signals for the next rally and a possible accumulation zone. ZeroSync implements first Stark-based ZK client for Bitcoin. Bitfarms increases mining pace, generates 411 BTC in September.
This is the first known Satoshi Nakamoto’s email (BIC)
BITCOIN IS A POSSESSION, NOT PROPERTY
Grayscale submits SEC filing to convert Ethereum Trust to spot ETF. Ether futures ETFs from ProShares, VanEck and others go live. Solana just experienced unexpected pump, beating crucial resistance level. Solana’s total value locked (TVL) reached $338.82 million this Monday, marking its highest since the start of the year, as per DefiLlama data.
BIS and Central Banks Make Waves with Successful CBDC Test in Project Mariana. Two transactions showed lump sums of $500,000,000 in USDT being transferred from Bitfinex to the Tether Treasury only a few minutes apart. The issuer of the stablecoin USDC is refuting the general assertion of the U.S. Securities and Exchange Commission (SEC) that most crypto assets are securities.
Coinbase crypto exchange obtains payment license in Singapore.
FTX's Former Auditor Prager Metis Sued by SEC. Crypto's biggest trial begins tomorrow. Its outcome may hinge on Sam Bankman-Fried's former colleagues. Crypto tycoon Sam Bankman-Fried saw billions of dollars in missing funds in his financial empire as a “rounding error” and mulled giving Trump $5B not to run for president, says author biographer Michael Lewis told CBS’s 60 Minutes aired on Sunday. In addition, SBF defense can't say "his lawyers made him do it" in its opening statement, but the “advice of counsel” argument can be made later. Sam Bankman-Fried has few pathways to acquittal, say legal experts.
Ross Ulbricht, has spent ten years in prison for his creation of darknet marketplace Silk Road and Ulbricht communicates his thoughts through his family, as he doesn't have internet access in prison. Supporters believe Ulbricht's punishment doesn't match his crime and he deserves a chance for redemption.
Crypto firms beware: Lazarus’ new malware can now bypass detection. FTX hacker moves over $38 million in past few days. Blockchain security firm Cyvers detects suspicious transactions totaling $13M on CoinW Exchange.
WATCH
LISTEN
Podcast of the Day: The 3 Key Factors That Will Bring 1 Billion People To Crypto | Mo Shaikh, Aptos Labs | TWOAS
THE WEEDS
Crypto Market
- Analysis (Cointelegraph | Cointelegraph | TB | CryptoPotato | TDH | Cointelegraph)
- Asset Investments (TB | Cointelegraph)
- Opinion (TDH)
Bitcoin
- Price (Decrypt | Cointelegraph | BIC | CryptoPotato | Finbold | TB)
- Statistics (UToday)
- Development (TB)
- Mining (Cointelegraph)
Altcoins
- ETH ETF (Cointelegraph | CoinDesk | TB | Cointelegraph | Cointelegraph | CryptoPotato)
- SOL (Decrypt | UToday | NewsBTC | BIC)
CBDCs/Stablecoins
- BIS (CryptoPotato | TDH)
- USDT (Cointelegraph)
- Circle (TDH)
Exchanges
- Coinbase (Cointelegraph | BIC | TB)
Legal Cases
- FTX (CoinDesk)
- SBF (CoinDesk | CoinDesk | BIC | Cointelegraph | Cointelegraph | TB | TB | Decrypt | Decrypt | Decrypt | CoinDesk | Cointelegraph | CryptoPotato )
- Ross Ulbricht (BIC | BM | Cointelegraph)
Attacks/Hacks/Scams
- Lazarus Malware (Cointelegraph)
- FTX Hacker (TB | TB | Cointelegraph | CoinDesk | CoinDesk | TDH)
- CoinW Hack (BIC)
