🚀 Bitcoin(BTC) Drops Below 61,000 USDT with a 1.73% Decrease in 24 Hours
#Bitcoin #BTC #Cryptocurrency #USDT #MarketData #PriceDrop
On Oct 09, 2024, 19:26 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 61,000 USDT and is now trading at 60,882.628906 USDT, with a narrowed 1.73% decrease in 24 hours.#Bitcoin #BTC #Cryptocurrency #USDT #MarketData #PriceDrop
🚀 Federal Prosecutors Charge Crypto Market Manipulators
#FederalProsecutors #CryptoMarket #MarketManipulation #Gotbit #ZMQuant #WashTrading #CryptoProjects #Securities #RoboInu #VZZN #NextFundAI #Saitama #SEC #Indictments
According to CoinDesk, federal prosecutors have charged two purported market makers, several crypto projects, and over a dozen individuals with manipulating various crypto markets. The charges allege that these entities profited from fees and selling manipulated coins at elevated values.
The charging documents, unsealed on Wednesday, reveal that Gotbit and ZM Quant engaged in wash trading of various tokens to create the illusion of legitimate activity. They sold these tokens at artificially inflated prices, marketed them on various platforms, and convinced exchanges to allow them to buy tokens with reduced fees. Prosecutors claim that both Gotbit and ZM Quant publicly presented themselves as legitimate market makers offering legal services, while privately providing illegal services, including wash trading.
In Gotbit’s case, the illegal activities were not entirely private. In 2019, Gotbit co-founder Alexey Andryunin, then a 20-year-old college sophomore, explained to CoinDesk how the wash trading services worked. He admitted that Gotbit was not registered in any jurisdiction because it was “not entirely ethical.” ZM Quant was registered in the British Virgin Islands, but its employees named in the indictment were based in Hong Kong. Gotbit's employees are believed to be Russian.
The manipulated tokens included Robo Inu, which saw a price increase after the indictment was unsealed. Other named defendants include VZZN, NextFundAI, and Saitama. According to the indictments, each token, including Robo Inu, is classified as a security. Several individuals behind these projects, including Robo Inu founder Vy Pham, have also been named as defendants.
The U.S. Securities and Exchange Commission (SEC) has unveiled parallel civil charges against Gotbit and its employee director Fedor Kedrov, a Russian resident.#FederalProsecutors #CryptoMarket #MarketManipulation #Gotbit #ZMQuant #WashTrading #CryptoProjects #Securities #RoboInu #VZZN #NextFundAI #Saitama #SEC #Indictments
🚀 BNB Drops Below 570 USDT with a 2.45% Decrease in 24 Hours
#BNB #cryptocurrency #Binance #USDT #marketdata #priceupdate #decrease
On Oct 09, 2024, 20:26 PM(UTC). According to Binance Market Data, BNB has dropped below 570 USDT and is now trading at 569.299988 USDT, with a narrowed 2.45% decrease in 24 hours.#BNB #cryptocurrency #Binance #USDT #marketdata #priceupdate #decrease
🚀 Ethereum(ETH) Drops Below 2,400 USDT with a 1.99% Decrease in 24 Hours
#Ethereum #ETH #Binance #cryptocurrency #USDT #marketdata #priceupdate
On Oct 09, 2024, 20:49 PM(UTC). According to Binance Market Data, Ethereum has dropped below 2,400 USDT and is now trading at 2,395.280029 USDT, with a narrowed 1.99% decrease in 24 hours.#Ethereum #ETH #Binance #cryptocurrency #USDT #marketdata #priceupdate
🚀 Crypto Enthusiasts Gather For Permissionless III In Salt Lake City
#Crypto #PermissionlessIII #SaltLakeCity #CryptoEnthusiasts #Blockchain #Investing #Regulation #Bitcoin #ETFs #SamaraCohen #ChrisDixon #a16z #RockClimbing #AxeThrowing #CryptoEvents #BTC
According to Blockworks, the first day of Permissionless III in Salt Lake City saw thousands of crypto enthusiasts engaging in various activities, including rock climbing and axe throwing. The event featured sessions on diverse topics such as investing in private markets and a fireside chat with BlackRock’s Samara Cohen. One attendee noted a preference for Permissionless over other crypto events, describing it as “less of a zoo.”
While many attendees enjoyed the event's atmosphere, Ram Ahluwalia expressed a sense of “malaise,” pondering whether latecomers who bought in as prices rose would hold or sell once a new all-time high is reached. Blockworks Chief Operating Officer Sid Viswanath reported positive feedback from attendees, who appreciated the event's quality despite its smaller size compared to last year.
On the main stage, a16z crypto’s Chris Dixon advocated for bipartisan legislation, highlighting a “chill” on crypto due to the current regulatory environment. The topic of regulation was a recurring theme in many panels, especially those on the main stage. Despite regulatory concerns, there was an undertone of optimism among attendees and speakers.
BlackRock’s Samara Cohen provided insights into IBIT’s investors, noting that 75% of buyers were first-time iShare buyers, indicating a strong interest from crypto natives. She also mentioned that 85% of investors were direct buyers, reflecting a significant appetite for bitcoin ETFs. Cohen’s talk received positive feedback from attendees.
In the afternoon, smaller panels, known as breakout tracks, began. One panel featured Taproots Wizard co-founder Eric Wall and Galaxy’s Alex Thorn discussing bitcoin with Bankless co-founder David Hoffman. Hoffman is set to participate in a Karate Combat match against Kain Warwick on Friday.#Crypto #PermissionlessIII #SaltLakeCity #CryptoEnthusiasts #Blockchain #Investing #Regulation #Bitcoin #ETFs #SamaraCohen #ChrisDixon #a16z #RockClimbing #AxeThrowing #CryptoEvents #BTC
🚀 Fed's Daly Confident In Achieving 2% Inflation Target
#Fed #Inflation #InterestRates #MaryDaly #MonetaryPolicy #EconomicOutlook #RateCuts #LaborMarket
According to BlockBeats, on October 10, Federal Reserve's Mary Daly expressed full support for the 50 basis points rate cut in September. Daly conveyed confidence in the path to achieving the 2% inflation target and indicated that there might be one or two more rate cuts this year. She noted that while the policy rate remains stable, the real interest rate is rising. Daly emphasized the importance of monitoring data, particularly the labor market and inflation, and adjusting interest rates as necessary. The extent of the September rate cut does not imply the future pace or magnitude of rate cuts.#Fed #Inflation #InterestRates #MaryDaly #MonetaryPolicy #EconomicOutlook #RateCuts #LaborMarket
🚀 Bitcoin Experiences 2.52% Drop Within 24 Hours
#Bitcoin #Cryptocurrency #PriceDrop #MarketNews #Investment #BTC
According to BlockBeats, Bitcoin experienced a significant drop early this morning, reaching a low of $60,300. However, it has since rebounded and is currently priced at $60,711. Over the past 24 hours, Bitcoin has seen a decline of 2.52%.#Bitcoin #Cryptocurrency #PriceDrop #MarketNews #Investment #BTC
🚀 PlusToken Scam ETH Moves For First Time Since 2021
#PlusToken #Scam #ETH #Crypto #Blockchain #OnChain #Fraud #Investigation #Cryptocurrency
According to Odaily, on-chain analyst @ErgoBTC has reported that ETH seized from the multi-billion dollar PlusToken scam has moved on-chain for the first time since 2021. In the past 24 hours, approximately 7,000 ETH out of the remaining 542,000 ETH (worth $1.3 billion) have been sent to exchanges, indicating a potential intent to sell these assets.#PlusToken #Scam #ETH #Crypto #Blockchain #OnChain #Fraud #Investigation #Cryptocurrency
🚀 Nexus Launches Beta Version Of Open Prover Network
#Nexus #OpenProverNetwork #zkVM #ZeroKnowledge #Blockchain #ApexFusion #MultiChain #Decentralized #Livepeer #AIStartup #GenerativeAI #VideoStreaming #DeveloperTools #Interoperability #LPT
According to CoinDesk, Nexus, the developer of a zero-knowledge virtual machine (zkVM) written in Rust, has launched the first beta release of the Nexus network, described as the world’s first open prover network. The team stated that this is the first distributed zero-knowledge VM-based prover network accessible to anyone. The network aggregates the collective power of any connected device, from massive GPU farms to personal computers or phones. The goal is to unite the world’s computers into a single supercomputer capable of proving all the Internet’s computations, thereby unlocking the Verifiable Internet.
In other news, Apex Fusion, a federated multi-chain layer-1 network, has raised $6 million in a private token sale. The network aims to provide a seamless experience for future blockchain builders and developers by combining UTXO and EVM transaction execution methods into a single decentralized ecosystem. The startup's team mentioned that the funds, raised with a fully diluted valuation of $180 million, will be used for marketing and further development of its network, which includes Prime, Nexus, and Vector chains. The network offers native bridges, interoperability protocols, and developer tools.
Additionally, Livepeer, a decentralized video-streaming project, hosted an AI Demo Day, showcasing eight startups from its AI Startup Program over the past three months. The showcased startups, which are building the future of generative AI on decentralized infrastructure, include Flipguard, Katana Video, Newcoin, Operator, Origin Stories, Refraction, StreamEth, and Supermodel. Applications are now open for the Q4 cohort of the Livepeer AI Video Startup program, which includes $20K in grant funding.#Nexus #OpenProverNetwork #zkVM #ZeroKnowledge #Blockchain #ApexFusion #MultiChain #Decentralized #Livepeer #AIStartup #GenerativeAI #VideoStreaming #DeveloperTools #Interoperability #LPT
🚀 SEC Chair Gensler Discusses Bitcoin's Role and Regulatory Framework
#SEC #GaryGensler #Bitcoin #cryptocurrency #regulation #HoweyTest #digitalcurrencies #fraud #financialsystem
According to PANews, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler expressed his views on Bitcoin and other cryptocurrencies during an event at New York University School of Law. Gensler stated that he believes Bitcoin and other digital currencies are unlikely to become widely used as payment methods. Instead, he sees them more as stores of value. He referenced historical and monetary theories, noting that nations typically prefer to use a single currency. Gensler also criticized fraudulent activities within the crypto industry, highlighting that many industry 'leaders' are either imprisoned or facing extradition as of 2024. He asserted that the existing Howey Test is sufficient to regulate crypto assets, dismissing the need for an additional regulatory framework.#SEC #GaryGensler #Bitcoin #cryptocurrency #regulation #HoweyTest #digitalcurrencies #fraud #financialsystem
🚀 Bitcoin Mining Difficulty Increases by 4.12%
#Bitcoin #MiningDifficulty #BTCcom #HashRate #Cryptocurrency
According to Odaily, BTC.com data reveals that Bitcoin mining difficulty experienced an adjustment at block height 864,864, occurring yesterday at 14:46:39 (UTC+8). The mining difficulty has increased by 4.12%, reaching 92.05 T. Currently, the average hash rate across the entire network over the past seven days stands at 679.7 EH/s.#Bitcoin #MiningDifficulty #BTCcom #HashRate #Cryptocurrency
🚀 FBI Creates Ethereum Token To Combat Fraud
#FBI #Ethereum #Token #NexFundAI #Fraud #Blockchain #MemeToken #Crypto #SEC #DOJ #ETH
According to BlockBeats, on October 10, Reuters reported that the FBI had created a token and company named 'NexFundAI' on Ethereum to identify and combat fraudsters. On-chain information reveals that the token's trading function was disabled 21 days ago.
Additionally, a meme token with the same name has been repeatedly issued on the blockchain. BlockBeats advises users to be cautious of its risks.
Previously, the U.S. SEC, FBI, and DOJ jointly filed lawsuits against MemeCoin market maker Gotbit and other crypto companies.#FBI #Ethereum #Token #NexFundAI #Fraud #Blockchain #MemeToken #Crypto #SEC #DOJ #ETH
🚀 Telegram CEO Pavel Durov Celebrates 40th Birthday
#Telegram #PavelDurov #Birthday #LifeStory #UserGrowth #Poll
According to PANews, Telegram CEO Pavel Durov marked his 40th birthday today by posting on his personal channel. He reflected on launching his first major project 18 years ago and growing its user base from zero to 100 million. Durov also mentioned the possibility of sharing this experience in a series of upcoming 'life story' posts and invited users to participate in a poll to decide.#Telegram #PavelDurov #Birthday #LifeStory #UserGrowth #Poll
🚀 Fidelity FBTC And FETH Report No Fund Inflows Or Outflows
#Fidelity #FBTC #FETH #fundinflows #fundoutflows #Odaily #FarsideInvestors
According to Odaily, data from Farside Investors indicates that there were no fund inflows or outflows for Fidelity's FBTC and FETH yesterday.#Fidelity #FBTC #FETH #fundinflows #fundoutflows #Odaily #FarsideInvestors
🚀 Compass Mining Partners With Mindshift To Expand Bitcoin Mining In South Korea
#CompassMining #Mindshift #BitcoinMining #SouthKorea #DigitalAssets #Cryptocurrency #MiningOperations #ElectricityCosts #BitcoinEquipment #BTC
According to BlockBeats, on October 10, Compass Mining announced a partnership with South Korean digital asset service provider Mindshift to expand its Bitcoin mining operations in South Korea. This collaboration aims to address challenges such as high electricity costs and provide more convenient Bitcoin mining services for South Korean residents.
Furthermore, Mindshift plans to introduce a new product that will allow South Korean customers to purchase Bitcoin mining equipment and have it maintained at Compass's data center.#CompassMining #Mindshift #BitcoinMining #SouthKorea #DigitalAssets #Cryptocurrency #MiningOperations #ElectricityCosts #BitcoinEquipment #BTC
🚀 CryptoQuant Founder Predicts Imminent Cryptocurrency Regulation
#CryptoQuant #Cryptocurrency #Regulation #Gotbit #MemeCoin #KiYoungJu #Blockchain
According to BlockBeats, on October 10, CryptoQuant founder Ki Young Ju commented on the recent lawsuit filed by multiple U.S. departments against Meme coin market maker Gotbit and other crypto companies. He stated that cryptocurrency regulation is imminent and only a matter of time. Ju believes that regulation will help eliminate the stigma of gambling associated with cryptocurrencies.#CryptoQuant #Cryptocurrency #Regulation #Gotbit #MemeCoin #KiYoungJu #Blockchain
🚀 Cryptocurrency Market Sentiment Shifts To Fear
#Cryptocurrency #MarketSentiment #FearAndGreedIndex #Fear #Bitcoin #BlockBeats #Volatility #TradingVolume #SocialMediaActivity #MarketSurveys #GoogleTrends
According to BlockBeats, the Fear and Greed Index for cryptocurrencies has dropped to 39 on October 10, down from 49 the previous day. This shift indicates a change in market sentiment from 'neutral' to 'fear.' The Fear and Greed Index, which ranges from 0 to 100, is a composite measure that includes several indicators: volatility (25%), market trading volume (25%), social media activity (15%), market surveys (15%), Bitcoin's dominance in the overall market (10%), and Google search trends (10%).#Cryptocurrency #MarketSentiment #FearAndGreedIndex #Fear #Bitcoin #BlockBeats #Volatility #TradingVolume #SocialMediaActivity #MarketSurveys #GoogleTrends
🚀 DYdX Community Proposes Adding CETUS Chain Voting Support
#DYdX #CETUS #voting #governance #cryptocurrency #blockchain #DYDX
According to Odaily, the official governance page of dYdX reveals that the community has initiated a proposal to add support for CETUS chain voting on the platform. The voting process is set to conclude on October 13 at 9:05 UTC+8.#DYdX #CETUS #voting #governance #cryptocurrency #blockchain #DYDX
🚀 Sui Ecosystem DEX Turbos Finance Achieves Record Trading Volume
#SuiEcosystem #TurbosFinance #DEX #TradingVolume #USDT #USDC #PIGU #SUI #MemeToken #APR #DeFi
According to Odaily, official data reveals that the Sui ecosystem decentralized exchange (DEX) Turbos Finance launched the USDT/USDC trading pair, reaching a trading volume of $17 million on the first day, setting a new record. Previously, Turbos provided users within the Sui ecosystem with optimal annualized dual incentive returns.
Additionally, the exclusive Meme token trading pair PIGU/SUI on the Turbos platform saw a single-day trading volume surpassing $6 million, with an annual percentage rate (APR) of 612.1%. The AAA/SUI pool achieved an APR of 1304.64%, while the USDT/USDC pool recorded an APR of 39.54%.#SuiEcosystem #TurbosFinance #DEX #TradingVolume #USDT #USDC #PIGU #SUI #MemeToken #APR #DeFi
🚀 Tom Emmer Discusses Limited Impact Of Chevron Principle Reversal On Crypto Regulation
#TomEmmer #ChevronPrinciple #CryptoRegulation #USElections #SEC #FederalAgencies #AdministrativeLaw #Cryptocurrency #SupremeCourt #Legislation
According to BlockBeats, on October 10, U.S. Congressman Tom Emmer stated that unless Congress passes legislation to limit the regulatory authority of federal agencies, the reversal of the Chevron principle will have limited impact on cryptocurrency regulation. Emmer emphasized that only a Republican victory in the upcoming elections could make this ruling significantly affect the crypto industry.
Previously, in June, the U.S. Supreme Court overturned one of its most important precedents, the Chevron principle. The Chevron principle is a part of U.S. administrative law that grants federal agencies the power to interpret laws when they are ambiguous. This ruling has major implications for the rule-making abilities of the U.S. Securities and Exchange Commission (SEC) and other federal agencies, stripping them of the power to interpret ambiguous laws through rule-making. Consequently, U.S. courts are no longer required to #TomEmmer #ChevronPrinciple #CryptoRegulation #USElections #SEC #FederalAgencies #AdministrativeLaw #Cryptocurrency #SupremeCourt #Legislation
🚀 Meme Coins Experience Significant Declines
#meme #coins #decline #BlockBeats #CoinGecko #Solana #Ethereum #MOODENG #HarryPotterObamaSonic10Inu #Sui #BLUB
According to BlockBeats, on October 10, CoinGecko data revealed that several meme coins, which had previously seen substantial increases, experienced notable declines in value. Among these, the Solana-based MOODENG saw a daily drop of 22.6%, while the Ethereum-based MOODENG fell by 19.5%. Additionally, HarryPotterObamaSonic10Inu recorded a daily decrease of 18.1%, and the Sui-based meme coin BLUB experienced a 13.5% decline.#meme #coins #decline #BlockBeats #CoinGecko #Solana #Ethereum #MOODENG #HarryPotterObamaSonic10Inu #Sui #BLUB