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Happy Tuesday Folks! Yesterday, the SBF trial began and it broke the internet, the FTX hacker moved money, and Bitcoin popped causing "Bull run" to trend on X. Today, literally nothing is going on in the news! I mean 2 stories as I type: ETH ETF news and Celsius giving money back by the end of the year. That's really all the news. Never have it seen it be this boring - something is brewing folks and it's BIG! Meanwhile, Bitcoin is trading down at $27,555.31. Let's get on with the lack of news...
SUMMARY
The crypto community has asked Elon Musk to remove the X account under the name of Satoshi Nakamoto, claiming it is in breach of the platform’s terms of use.
Bitcoin price gave up its recent gains as concerning signals from the US economy continue to weigh on investor sentiment. Bitcoin congestion is no more: BTC network reaches record lows on pending transactions. Canadian exchange TMX soon to start Bitcoin Futures trading. Large Bitcoin (BTC) holders have been snapping up the top crypto asset since the beginning of September, according to the crypto analytics firm Santiment.
Mike McGlone, chief commodity strategist at Bloomberg Intelligence, has taken to the X social media platform (formerly Twitter) to share that he believes there are high chances of Bitcoin falling lower this year – perhaps as low as $10,000. Meanwhile, the weekly market report from cryptocurrency exchange Bitfinex revealed that Bitcoin reserves on centralized exchanges have plunged further to levels last seen in early January 2018. An upgrade to the Nomic blockchain will enable the issuance of Bitcoin-based tokens within the Cosmos ecosystem. ETF filings changed the Bitcoin narrative overnight — Ledger CEO Ian Rogers says that, while it may take a few years, big money is getting into crypto. Bitcoin's rise in September bodes well for October price action: Bitfinex analysts.
Trading volumes and general interest for the raft of Ethereum futures exchange-traded funds launched this week have been low. The US SEC's approval of nine Ethereum futures ETFs may indicate a shift in stance on ETH as a security. Top 100 Cryptos of 2017: 27 scams, 79 will never update ATH, analyst says.
EU Plans for Wholesale CBDC Out Within Weeks, French Central Banker Says. Candidate for Argentina President Promises to Push a CBDC. Tether ($USDT) on exchanges jumps to 24.7% – highest Stablecoin buying power in 6 months. Binance to shut down BUSD lending by October 25. Circle’s USDC burn impacts Base Network’s total value locked (TVL.)
Celsius Network, the insolvent crypto lending company, is seeking court approval to begin making payments to its customers by the end of the year, the firm’s legal counsel Christopher Koenig said during October 2 bankruptcy court hearing; Alex Mashinsky's jury trial scheduled for September 2024.
Some Friend.Tech users reported that they were the victim of SIM swap attacks over the weekend with the attackers successfully draining thousands of dollars worth of tokens. Blockchain analytics firm Match Systems has made contact with an individual who is believed to be selling tokens linked to the recent CoinEx and Stake hacks at discounted prices. Binance collaborates with Royal Thai Police to seize $277M from scammers.
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LISTEN
Podcast of the Day: Bitcoin Pops As Uptober Returns | The Breakdown
THE WEEDS
Crypto Market
- Satoshi on X (Cointelegraph | BIC)
Bitcoin
- Price (Cointelegraph)
- Network (Finbold)
- Accumulation (TDH)
- Opinions (UToday | Cointelegraph | TB | Finbold | Cryptoglobe | TDH)
- ETF (CoinDesk)
- Analysis (CryptoPotato)
- Bridge (Decrypt)
Altcoins
- ETH ETF (CryptoPotato | BIC | TB)
- Top 100 (UToday)
CBDCs/Stablecoins
- EU (CoinDesk)
- Argentina (Decrypt | Cointelegraph)
- USDT (CryptoPotato)
- BUSD (Cointelegraph)
- USDC (CryptoPotato)
Legal Cases
- Celsius (Decrypt | TB | Cointelegraph | TB | TDH)
Attacks/Hacks/Scams
- Friend.Tech (CoinDesk)
- CoinEx Hack (Cointelegraph)
- Binance (Cointelegraph)
