Category: crypto

Spot Bitcoin ETFs have exceeded $20 billion in total net inflows, boosted by $1.5 billion in a week, signaling heightened investor interest. Despite Grayscale’s outflows, net growth remains substantial, with Bitcoin ETFs managing $65 billion total assets and holding 951,000 Bitcoin, enhancing their influence in the crypto market.

The FBI arrested Eric Council Jr. for hacking the SEC’s X account and posting a fake announcement about Bitcoin ETFs, causing BTC’s price to spike and then crash. Charged with identity theft and fraud, Council used SIM swapping to gain access, receiving Bitcoin for his role in the scheme.

Bitcoin’s hashprice has reached a two-month high of $53.64, providing relief for miners after a significant drop in September. The rise coincides with Bitcoin’s recent price rally and increased network activity. US miners now control 28.9% of the global hashrate, reflecting their operational efficiency amid rising market conditions.

Nishad Singh, a former FTX executive, seeks leniency in sentencing, citing his cooperation with authorities and a minor role in FTX’s collapse. His attorneys highlight his swift response to the investigation and personal circumstances, contrasting him with other executives. Meanwhile, other FTX leaders face varying sentences for their roles.

Kraken has launched kBTC, a new fully-backed ERC-20 wrapped Bitcoin token, designed to enhance Bitcoin’s usability in DeFi. Each kBTC is backed 1:1 by Bitcoin stored in Kraken’s custody, with public verification. Amid rising competition, kBTC aims to promote global crypto adoption and interoperate across multiple blockchain ecosystems.

Montenegro’s Justice Minister Bojan Božović confirmed the imminent extradition of Do Kwon, co-founder of Terraform Labs, after a lengthy legal process. Arrested in March 2023 for using forged documents, Kwon faces legal battles in South Korea and potential severe charges in the U.S., marking a significant step in his controversial case.

AlphaBitcoin accumulation by whales and investors suggests a significant shift in market momentum, indicating a potential upcoming price surge. This strategic buildup of assets is fueling optimism within the cryptocurrency market.

North America has reclaimed its position as the leading global crypto market, generating $1.3 trillion in on-chain value, primarily driven by institutional activity in the US. However, volatility challenges persist, and the US has seen a decline in stablecoin holdings, while their use grows significantly in non-US markets, especially in developing countries.

Uncertainty surrounds the SEC’s deadline for filing Form C in its appeal against Ripple, with conflicting beliefs among the XRP community regarding the due date. While some assert it was October 16, 2024, others argue for October 18. A missed deadline could potentially harm the SEC’s case against Ripple.

Polymarket’s decentralized prediction platform has exceeded $2 billion in total volume for the 2024 US presidential election. Donald Trump leads with a 61.3% chance of winning, while Kamala Harris trails at 38%. Both Polymarket and Kalshi are experiencing increased activity as the election approaches, reflecting growing interest in prediction markets.