1. Len Sassaman is most likely to be revealed as the real Satoshi Nakamoto in the new HBO documentary
Len Sassaman, the famous cypherpunk who committed suicide in 2011, is most likely to be revealed as the real Satoshi Nakamoto in a new HBO documentary set to air on Tuesday. This is all assuming that HBO will indeed reveal Nakamoto's identity. Although Politco reports that the documentary will indeed reveal Nakamto's identity, HBO's promotional materials do not explicitly make that claim. Len Sassaman's suicide may be related to the last message posted by Satoshi Nakamoto. That message reads, "I have moved on to other things and may no longer exist in the future."
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2.QCP Capital: Geopolitical risks are the biggest hidden danger at present. Investors can lock in profits and prepare for the year-end rise.
Coinciding with the first anniversary of the outbreak of the Gaza War, Iran launched a large-scale attack, and the market expects Israel to retaliate more severely, with targets possibly including Iran's nuclear facilities and oil infrastructure. At the same time, the US non-farm payrolls data for September far exceeded expectations, with 254,000 new jobs and an unemployment rate of 4.1%. This shows that the US labor market remains strong, boosting market risk sentiment. Bitcoin briefly rebounded to $62,000, and although it fell from last week's high, macroeconomic data supported the market's expectations for the "Uptober" market. The demand in the options market remains strong, and investors are optimistic about the trend before the end of the year. QCP recommends locking in profits at the current Bitcoin price and preparing for a potential rebound at the end of the year.
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3. Nick Timiraos: September employment report may close the door for the Fed to cut interest rates by another 50 basis points next month
Wall Street Journal reporter Nick Timiraos wrote that the September employment report may close the door for the Federal Reserve to cut interest rates by another 50 basis points next month and keep officials on track to cut interest rates by 25 basis points. The Fed began cutting interest rates last month, when officials believed they might be a little late in cutting interest rates due to mild summer inflation data and signs of a cooling labor market, so they took a larger 50 basis point rate cut.
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4. Vitalik sold NEIRO, DEGEN and other Meme tokens for about 140.6 ETH
Ethereum co-founder Vitalik Buterin exchanged some Memecoin assets transferred to his wallet for about 140.6 ETH, worth about $340,000, within 30 minutes. The assets sold included: 100,000 USDT (donated by the CATE project); 70.71 million Neiro (donated at the address 0x41e...f31); 11.76 billion MOODENG (donated by the MOODENG project); 7.8 million DEGEN (donated by the DEGEN project); 16.03 billion KABOSU (donated at the address 0x41e...f31).
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5. From $37 billion to $24.5 billion, the DAO treasury is experiencing a significant decline
As of October 2024, the latest data shows that decentralized autonomous organizations (DAOs) hold $24.5 billion in treasury funds, a decrease of $12.6 billion since the end of March this year. DAO treasuries peaked at nearly $40 billion in March this year, but have since fallen sharply. Currently, the largest DAO treasury comes from Optimism, holding $3.8 billion, followed by Uniswap with $2.9 billion. The top five treasuries also include Mantle, Arbitrum, and Gnosis DAO.
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6. Bloomberg: U.S. Department of Homeland Security prevents more than 500 ransomware attacks and seizes $4.3 billion in cryptocurrencies
The Department of Homeland Security's specialized cybercrime unit says it has stopped more than 500 ransomware attacks and seized billions of dollars in cryptocurrency since 2021. Homeland Security Investigations (HSI) is taking steps to stop hackers before they happen. HSI stopped 150 ransomware plots between October 2023 and September 30 of this year, and has stopped a total of 537 intrusions since the operation began in 2021. HSI has also seized $4.3 billion worth of cryptocurrency since 2021.
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7. Wu Shuo Zhou’s Selections: CZ’s first post after release, a large number of North Korean engineers mixed into the cryptocurrency circle, the Federal Reserve is not in a hurry to cut interest rates quickly and the top 10 news
Top 10 News of the Week
1. Powell: The committee is not in a hurry to cut interest rates quickly link
Federal Reserve Chairman Jerome Powell said on Monday that Fed officials are in no rush to cut interest rates again. Powell noted that while the labor market remains solid and inflation is gradually declining, the Fed is not expected to repeat the large-scale rate cuts this month (September) at the next two meetings. "If the economy performs as expected, it will mean two more rate cuts this year," he said, adding that the federal funds rate will be "lowered by 50 basis points" by the end of the year.
2. IMF puts pressure on El Salvador to revise Bitcoin regulations link
The International Monetary Fund (IMF) has once again called on El Salvador to scale back its Bitcoin policy and overhaul the regulatory framework surrounding digital assets in a press release on Oct. 3. Without going into specifics about the proposed regulatory shift, IMF Communications Director Julie Kozack provided the following statement: “We recommend narrowing the scope of Bitcoin laws, strengthening the regulatory framework and oversight of the Bitcoin ecosystem, and limiting public sector exposure to Bitcoin.” Ever since El Salvador legalized Bitcoin as legal tender in 2021, the IMF has been asking it to abandon Bitcoin in favor of traditional financial infrastructure.
3. Japan’s new Prime Minister Shigeru Ishiba believes blockchain and NFT can boost regional economy link
Japan's new Prime Minister Shigeru Ishiba has revealed policies supporting blockchain and NFTs, and will appoint Masaaki Taira, the current head of the Liberal Democratic Party's Web3 Working Group, as the government's new Minister of Digital Affairs. According to official policy documents from Ishiba's office and CoinPost, he believes that blockchain and NFTs can help boost regional economies, "Using blockchain technology, NFTs, etc., we will seek to maximize the value of a large number of simulated local products, such as food and tourism experiences. We will do this by restoring their value to global prices." In addition, Taira has previously talked about plans to use NFTs to increase the visibility of Japanese intellectual property assets.
4. CZ’s first post after release: Binance seems to be doing well without me link
Binance co-founder CZ posted for the first time after his release. He said: "The food tastes so good, and it's a luxury to eat more than one serving of fruit a day! I know some of you may have a lot of questions. But I can't give all the answers. Let me calm down and figure out what to do next. There are always more opportunities in the future than in the past. Giggle Academy is progressing well and will be a very important part of my life in the next few years. In addition, I will continue to invest in blockchain/decentralized technology, artificial intelligence, and biotechnology. I am a long-term investor and care about impact rather than returns. I will also invest more time and money in charity (and education). I am still writing a book and I am about 2/3 done. Writing a book is much more laborious than I expected, but I will stick to it. Binance seems to be doing well without me, which is great. This is every founder's dream. Stay tuned. See you during the meeting."
5. BlackRock executives: Ethereum ETF will not be able to match Bitcoin ETF in the short term link
Mitchnick admitted that BlackRock's Ethereum ETF's performance so far has been "less impressive" compared to the Bitcoin ETF. But he urged the audience to compare ETHA to ETFs overall: "It's very rare for an ETF like Ethereum to reach $1 billion in AUM in seven weeks. In most cases, it takes many years for a new ETF to reach that size." Mitchnick said: "I think the investment narrative of Ethereum is not easy for many investors to digest, which is a big reason why we are so committed to the educational journey with many of our clients. So you wouldn't expect them to be as large as Bitcoin in terms of flow and AUM. But it's still a good start."
6. Bitcoin miners’ revenue in September was $816 million, the lowest in the past year link
In September, Bitcoin miners' revenue was US$816 million in US dollars, the lowest in the past year. Among them, the revenue from Bitcoin network transaction fees that month was only US$13.86 million, the lowest since the birth of BRC-20 in March 2023.
7. Bitwise files S-1 filing for first XRP exchange-traded fund (ETF) link
Bitwise has filed the first S-1 application for an XRP exchange-traded fund (ETF), becoming the first company to apply for an XRP-based spot ETF. The application was submitted to the U.S. Securities and Exchange Commission on Wednesday morning. Bitwise CEO Hunter Horsley said XRP is one of the most recognizable and enduring assets in the crypto space and has the potential to attract mainstream investors.
8. If FTX's restructuring plan is approved, debtors with claims less than $50,000 may begin receiving compensation by the end of 2024. link
According to the latest FTX bankruptcy filing, the next court hearing to confirm the reorganization plan will be held on October 7, 2024. If the plan is approved, creditors with claims of less than $50,000 may begin to receive compensation at the end of 2024. Creditors with large claims may have to wait until the first or second quarter of 2025 to receive compensation. Some creditors have requested compensation in crypto assets rather than cash, so the plan faces some opposition.
9. More than a dozen blockchain companies accidentally hired IT workers from North Korea link
North Korea infiltrated the crypto industry by forging identities, and more than a dozen blockchain companies inadvertently hired IT employees from North Korea, including well-known projects such as Cosmos Hub, Injective, Fantom, Sushi, and Yearn Finance. The investigation found that these North Korean employees successfully passed interviews and background checks with false identities and transferred their salaries to blockchain addresses associated with the North Korean government. It is estimated that North Korean IT workers raise up to $600 million for the country's regime each year, partly to fund its nuclear weapons program. In addition, some companies that hired North Korean employees were hacked afterwards, including Sushi, which had $3 million stolen in 2021 due to malicious code.
10. Coinbase: Q4 crypto market expected to be positive due to US rate cuts and China's massive stimulus measures link
Coinbase Institutional's latest report points out that the crypto market is expected to perform positively in the fourth quarter of 2024 due to the US interest rate cuts and China's massive stimulus measures. Bitcoin has a strong outlook, but Ethereum faces challenges from rising transaction fees and limited impact of spot ETFs. Solana and other L1 networks are more focused on scalability and transaction efficiency, and improvements in decentralized exchanges and blockchain infrastructure are bringing positive signals to the crypto space.
Key financing events
Binance Labs announces investment in ZKsync extension chain Sophon link
OpenAI completes $6.6 billion in new funding at a $157 billion valuation link
Metaverse project SecondLive announces $12 million in funding link
Mind Network, a re-staking network, announced the completion of a $10 million Pre-A round of financing link
Solana DePIN project Mawari Network completes $10.8 million in strategic financing link
Yuanbi Technology announced the completion of $7.8 million in Series A1 financing link
Decentralized 3D map project MeshMap completes $4 million in financing link
Layer, a full-stack decentralized development tool developer, announced the completion of a $6 million seed round of financing link
For more industry financing events, please visit crypto-fundraising.info.
