The Autonomys Network aims to tackle the issues that come with a future where AI is integrated by offering a safe and distributed system for checking identities. The Subspace protocol forms the basis of this network making sure all interactions and transactions are open and reliable.
#SocialMining #BNSOL #FTXAuction #AI3
$BTC
$BNB

Auto ID: Universal Digital Identity for Humans and AI
Auto ID is a game-changing digital identity system that we can give to both humans and AI. Unlike old-school identity systems, Auto ID uses public key cryptography and a distributed Public Key Infrastructure (PKI) to create a flexible and easy-to-use identity solution. This system lets any entity with a digital presence sign up and prove their identity online.
Advantages of Auto ID
- Verifiable: Auto ID makes it possible to check digital identities making sure both people and AI can be confirmed.
- Portable: You can use this identity on different platforms and services, which means it's easy to take with you.
- Secure: Auto ID is based on public key cryptography giving it a strong security setup.
- Interoperable: Auto ID has the ability to work with other identity systems, like World ID allowing them to connect .
How Auto Coin Works
Auto Coin serves as the main digital currency for the Autonomys Network. It helps users make safe and clear trades within the system. Auto Coin runs on the idea that power should be spread out using the Autonomys Network's group decision-making to keep things honest and trustworthy.

The Autonomys Network's Spread-Out Nature and Group Decision-Making
The Autonomys Network spreads out control, so no one group runs the whole thing. This happens through a system where everyone agrees on how things stand. This setup not makes the network safer but also builds trust among the people who use it.
Conclusion
Auto ID and the Autonomys Network are making big strides in digital identity and decentralized systems. Auto ID opens the door to a future where humans and AI interact and by offering a safe, provable, and compatible identity answer. Adding Auto Coin makes the network work even better making sure all deals happen and . As AI becomes a bigger part of our world, we'll need fixes like Auto ID to build trust and openness from the ground up.

Market Observations
Decline in Primary Market Financing
The primary market remains pessimistic. According to RootData, in Q3 2024, Web3 primary market funding activities declined. There were 321 financing rounds, down 25.7% from the previous quarter, with total funding amounting to $2.406 billion, a 15% decrease from the prior quarter. Venture capital transaction activity (measured by monthly deal count) fell to the lowest in four years.

Security Incidents
The blockchain sector continues to face severe security challenges. According to Certik’s Q3 security report, there were 155 security incidents during this period, with total losses amounting to $753.09 million. Although the number of incidents decreased by 27 compared to Q2 2024, the total loss increased by 9.5%.

Industry Challenges
The issue of high token valuations and low initial circulation ratios has been a subject of intense debate since its introduction. Binance, in its latest industry observation report, again mentioned the problem of overvaluation in primary market projects. Additionally, the report highlighted that projects still have significant room for improvement in transparency, centralization, and token distribution during their operations.

Market Share of Centralized Exchanges
According to CCData, overall trading volume in the crypto sector in September fell to its lowest level since June. Last month, Binance’s combined market share for spot and derivatives trading dropped to its lowest level since September 2020.
Binance’s spot trading volume fell by nearly 23% from August, bringing its market share down to 27%, its lowest level since January 2021. The platform’s derivatives trading also decreased by 21%, accounting for 40.7% of the centralized exchange market share, the lowest since September 2020. Meanwhile, Crypto.com saw over a 40% increase in spot and derivatives trading volume month-over-month, and Bybit and Bitget also achieved positive growth.

Market Environment
BTC spot ETFs had a net inflow of $55.21 million last week, while ETH spot ETFs had a net outflow of $5.22 million. BTC prices rose 1% over the past week, while ETH prices increased by 1.4%, with the ETH/BTC exchange rate falling below 0.04. In Q3, BTC spot prices fluctuated between $58,000 and $66,000, and BTC’s market dominance reached 56.58%, maintaining a mid-level range.
The TVL (Total Value Locked) of the SUI and APTOS ecosystems grew significantly in the past month, both reaching record highs. Originating from the Diem blockchain project launched by Meta (formerly Facebook), SUI and APTOS have been hyped as “Solana killers” in the market. Over the past month, SUI’s TVL has increased by 46.98%, while APTOS’s TVL rose by 46.97%. In terms of token-denominated metrics, SUI has experienced net outflows since September, whereas APTOS has maintained a consistent net inflow. It is important to note that both SUI and APTOS are currently in a phase where early investors are unlocking large amounts of tokens at a rapid pace, as indicated by their respective tokenomics.
Trending Topics
Airdrop Sector: No More Opportunities in Airdrops? Scroll Airdrop Rules Spark Dissatisfaction
The prominent Layer2 project Scroll announced its launch on Binance Launchpool, allocating 5.5% of its tokens. 7% of the tokens are for airdrops to users, which will be distributed on October 22. Users expressed dissatisfaction mainly for two reasons: 1) The airdrop ratio is considered unreasonable; 2) The airdrop timing allows “whales” to dominate the shares that should go to regular users.

Meme Sector: Zoo Concepts, U.S. Election Themes, and Elon Musk's Mars City Ideas Leading Meme Coin Development
Thanks to the market’s dissatisfaction with VC tokens, MEME tokens have been gaining popularity due to their low initial market capitalization and fair issuance. Concept tokens related to zoo themes, U.S. elections, and Musk’s Mars City have received significant attention.

HBO Documentary: Money Electric: The Bitcoin Mystery
HBO released a documentary titled Money Electric: The Bitcoin Mystery, suggesting that Satoshi Nakamoto might be Peter Todd. Todd, however, denied the allegation.

FTX Bankruptcy Compensation Plan Approved
The U.S. Bankruptcy Court for the District of Delaware has confirmed FTX’s restructuring plan. According to the information disclosed, since filing for bankruptcy, FTX has recovered assets worth between $14.5 billion and $16.3 billion, which are ready to be distributed. A portion of the funds is expected to return to the crypto market, potentially contributing to market growth. 
FTX filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code, a reorganization-type bankruptcy that allows businesses to continue operating while restructuring their debts under court supervision, thus offering potential for a successful recovery.

Eigenlayer Hack Raises Controversy
On-chain data analysis team Lookonchain detected a wallet selling 1.67 million EIGEN tokens through MetaMask at a price of $3.30. These tokens were reportedly received from the EigenLayer team wallet. EigenLayer responded, stating that the hack occurred when an investor’s email about transferring vested tokens to a custodial address was intercepted.
Early token recipients during TGE have sparked concerns about insider trading, with multiple key opinion leaders questioning EigenLayer’s token unlocking practices and investor fairness.

#Funding #SECURITIZE #FTXAuction $SUI $APT $EIGEN

#moonbix #MemeCoinTrending #SUIHitsATH #IranIsraelConflict #FTXAuction
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As the saga and long shadow of FTX continues to dominate crypto discourse, the recent news that the long-awaited bankruptcy distribution had been approved was - justifiably so – a headline generating event. Nearly 2 years after the implosion of the exchange and 1 year after the conviction of Samuel Bankman-Fried on criminal charges, the unlocking of between $14 and $16 billion from the bankruptcy estate has market analysts revising price targets upwards. With reports that 98% of FTX creditors will receive approximately 119% of allowed bankruptcy claims there is understandable optimism for what these distributions will mean for the wider crypto marketplace.
One important caveat that needs to be identified up front is that these distributions, including the widely reported 119% of claims figure, are based on the claims filed in November 2022. During the time since bankruptcy bitcoin has risen approximately 260%, matching a wide-ranging rise in asset prices during that same period. In other words, investors whose holdings/deposits at FTX were denominated in bitcoin or other cryptoassets will have missed out on the recent bull market and still only recoup a percentage of what would have been earned had the exchange not collapsed to due to criminal activities of Bankman-Fried.
That, and two other reasons are why these distributions will not cause the surge in prices that some market watchers are predicting.
Acknowledging the fact that the bankruptcy estate has missed previously established deadlines during the bankruptcy process, the estimated date (set by the court) for the plan to be implemented is October 31st. Once an effective date is reached, the debtors (FTX) will have 60 days to make distributions to a class of creditors known as the convenience class; in case of this distribution that class includes any individual customer claims under $50,000. The total amount to be distributed to this class is approximately $1.2 billion, with the payment schedule still to be determined after the effective date has been established. While $1.2 billion might seem like a large number to retail investors, when compared to the daily trading volume of bitcoin and cryptoassets this total amount is relatively small.
Larger creditors, also known as the entitlement class, are likely to begin receiving distributions during early 2025. These creditors hold approximately $9 billion in claims and will receive payments in the form of initial payments as well interest payments on the unpaid portion of claims until the claims are paid in full. In addition, payments will also be distributed from a $12.7 billion settlement between the FTX estate and CFTC. In totality, the FTX estate estimates a recovery rate of between 129% and 143% for this creditor class.
In other words, even with the billions that are owed and due to be distributed to FTX creditors 1) the investors most likely to reallocate into crypto first (retail) are receiving a relatively small amount, and 2) the larger investors will only begin receiving incremental distribution at some point in 2025.

In a significant legal breakthrough, the Delaware bankruptcy court has officially approved FTX's customer refund plan. The once-dominant crypto exchange, which collapsed in November 2022, will now move forward with refunding its users 100% in fiat currency. Here’s everything you need to know about the decision and its impact on customers. 👇
💼 The Approved Refund Plan
On Monday night, the court gave the green light to a plan that aims to repay 98% of FTX customers between 118% and 140% of their deposited funds. This refund, however, comes with a key catch: it will be based on the November 2022 value of their assets, not their current worth. 💰
Refund in Fiat Currency: All repayments will be made in fiat, meaning no crypto will be distributed.Processing Timeline: Payments are expected to be issued within 60 days after the plan is fully in effect, though the exact date is yet to be determined.
📉 Why the November 2022 Valuation Matters
The repayment amount is calculated based on asset values from November 11, 2022, the day FTX declared bankruptcy. At that time, Bitcoin was hovering around $17,000. So, while the plan includes a bonus of up to 140% of initial deposits, many customers may still find their refund to be significantly lower than the current value of their holdings. With Bitcoin now trading above $27,000, customers will see roughly 25% of their asset's current value. 🪙⚖️
🛑 Six-Hour Hearing & Customer Objections
The approval didn’t come without challenges. During the lengthy six-hour hearing, two main objections were raised:
Fiat vs Crypto Refund: Many argued for refunds to be made in crypto rather than fiat, allowing customers to benefit from the recent market gains.FTT Token Valuation: The value assigned to FTX’s native token, $FTT , was another point of contention. The court ruled that FTT has zero nominal value, as it no longer holds any utility since FTX is no longer operational.
Despite these objections, the court stood by the fiat repayment plan and confirmed FTT as effectively worthless. 🏛️❌
🚀 FTT Token’s Rollercoaster Reaction
Interestingly, following the court’s decision, the FTT token saw a sharp rise of 70%, jumping from $2 to a peak of $3.4, before stabilizing back below $2.5. While FTT is now practically useless, speculators drove the price up temporarily, reflecting the volatile nature of the crypto market. 📈🔥
🔄 Stablecoin Refunds? Still Under Review
One intriguing option discussed during the hearing was the potential for customers to receive refunds in stablecoins instead of fiat. This option, however, remains under consideration due to concerns raised by the U.S. Securities and Exchange Commission (SEC). Further discussions will determine whether stablecoin payouts could be a viable alternative for FTX’s creditors. 💬🔗
🛠️ What Made the Refund Possible?
The ability to offer such high refund rates is largely due to the recovery efforts by FTX’s liquidators, who successfully retrieved a large portion of the exchange’s assets. Additionally, the rise in value of assets held by FTX and its sister company, Alameda Research, played a crucial role in making these refunds feasible. 🔍📊
🎯 What’s Next for FTX Customers?
With the plan now approved, the focus shifts to ensuring the timely execution of payments. Customers can expect the process to start within 60 days once the plan is fully set into motion. While the refunds in fiat currency might not fully reflect the current value of their crypto holdings, the resolution brings closure to many users who have been waiting for nearly two years.
FTX’s saga has been a cautionary tale for the crypto industry, highlighting the importance of trust, transparency, and responsible financial management. 🏦🔑
#FTXRecovery #FTX's #FTXAuction #FTT🔥🔥 #CryptoNewss

Top 3 Altcoins to Sell in Uptober
Discover the top 3 altcoins to sell in Uptober 2024 as market conditions shift. Learn why they are showing signs of potential decline.
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HIGHLIGHTS
FTX (FTT), Stacks (STX), and MANTRA (OM) show signs of dropping between 25% and 40% in October.After hitting a new all-time high, OM price is showing signs of a 34% correction.Despite FTX’s $16B reorganization plan, FTT price action shows a potential 37% drop.
The crypto market is in the red today after a 3.2% sell-off. This price action is against investors’ hopes of a bullish October, dubbed “Uptober” by the crypto folks. With Bitcoin (BTC) looking ready to extend its losses, here are three altcoins to sell in Uptober ahead of the election results on November 5. 

3 Altcoins to Sell in Uptober
October has historically been one of the best months for crypto over the past 12 years, and many anticipate a new all-time high for Bitcoin. However, the total crypto market cap, excluding Bitcoin, has fallen by 5.68% since the start of the month. While analysts consider this drop to be within the expected 10% range, the Bitcoin Fear and Greed Index has dropped from 49 yesterday to 33 today, indicating growing investor fear. Here are three altcoins to consider selling before October ends.
1. FTX Token (FTT)
FTT is the native token of the infamous FTX crypto exchange. While the token spiked by over 55% following the court approval of the FTX reorganization plan, it has also seen a sharp decline due to profit-taking, as evidenced by the long wicks.

FTT price is down 2.6% in the last 24 hours and is trading at $2.21. While the $16 billion compensation plan is good news for all of the crypto market, with selling pressure mounting, it could face a downturn in October.
2. MANTRA ($OM )
OM is the main utility and governance token of the MANTRA DeFi protocol.  The token recently hit a new all-time high due to the anticipation of its upcoming main net launch, topping out at $1.4746. 

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However, candlestick analysis shows weakness as the OM price reached a zone of resistance. The long upper wicks indicate buyer exhaustion, and the short consolidation period followed by a long black candle suggests sellers may be taking control.

Investors selling to make a profit could cause the price to drop as low as $0.85, a 34% drop from the current price. This makes OM one of the top altcoins to sell before October is over.
3. Stacks ($STX )
The Stacks network is a layer-2 solution for Bitcoin that enables the deployment of smart contracts and decentralized applications (dApps) on the Bitcoin mainnet. STX is the native token of the platform and has had a nice 30% pump ahead of the Nakamoto network upgrade and the launch of a new Bitcoin-pegged stablecoin, sBTC. 
While $STX is expected to benefit from the Nakamoto hard fork, selling pressure could affect its price, as the chart shows the asset in a pattern with a measured move of 25% to the downside. 

The STX price is $1.69, representing a 3% decrease in the last 24 hours. A 25% drop from the current price will set it around $1.28.
Conclusion
While October is indeed a green month on average, it is good to check tokens that may perform better than others and diversify into them. On the other hand, tokens like FTX (FTT), Stacks (STX), and MANTRA (OM) show signs of dropping between 25% and 40% in October (Uptober), meaning they are altcoins to sell.
#STX/USDT #FTXAuction #Ftx❓ #AltcoinInvesting #AltcoinGains

On October 7, 2024, FTX Trading Ltd. (operating as FTX.com) and its affiliate debtors announced that the U.S. Bankruptcy Court for the District of Delaware confirmed their reorganization plan, less than two years after their historic bankruptcy filing.
Asset Value
In filings on May 8, FTX reported that since filing for bankruptcy, they have recovered and liquidated assets valued between $14.5 billion and $16.3 billion. Under the reorganization plan, approximately 98% of creditors will receive around 119% of their approved claims within 60 days after the plan becomes effective, subject to KYC requirements. The distribution includes assets managed by FTX’s Chapter 11 debtors and various partners like FTX Digital Markets, Ltd. (Bahamas) and FTX Australia.
Payment Timeline
With the plan’s approval, FTX aims to compensate 98% of users within 60 days post-activation of the plan. While the plan is approved, the effective date is not yet determined. FTX creditor Mr. Purple has suggested two timelines: an activation on October 31, potentially allowing payments before year-end, or delays extending payments to early 2025 due to the reserve fund motion expected in November or December.

Impact on FTT
Following the plan’s approval, FTT surged past $3.4, reaching a peak of $3.43 before stabilizing at $2.49.

Broader Impact
The reorganization plan stipulates that 98% of creditors will be compensated in cash at 118% of their claim value based on the November 2022 bankruptcy filing. Remaining creditors are set to receive 100% of their claims, along with additional time-value compensation worth billions. About 94.48% of creditors, representing claims worth $6.83 billion, supported the plan.
Some creditors, including those led by Sunil Kavuri, opposed the plan, preferring direct compensation in cryptocurrency rather than cash-based on 2022 values. However, the FTX liquidation team and the presiding judge opposed this approach.
As the compensation progresses, some funds are expected to re-enter the crypto market, potentially supporting market trends.

$FTT #FTXAuction #FTX.Trading.Ltd

FTX Payouts Calculated by K33 Analysts: How Much Will Flow Back Into the Crypto Market?
The approval of FTX’s repayment plan by the US bankruptcy court has sparked excitement among crypto investors. With expectations high for cash payouts, K33 analysts estimate that around $2.4 billion could re-enter the crypto market.
After years of anticipation, the official decision on FTX repayments was finalized last night. As predicted, despite numerous objections, it was determined that users will be paid in cash based on their account values, regardless of the cryptocurrencies held at the time of bankruptcy.
When Will Payments Begin?
K33 Research, a crypto research firm that has previously issued reports on FTX payments, provided key insights into the expected timeline. According to the company’s latest report, released on Tuesday, payments are anticipated to be distributed by the end of this quarter and into the first quarter of 2025.
"Creditors with individual claims under $50,000 will receive payments within a 60-day window," the report stated. K33 estimates this will amount to approximately $1.2 billion. Larger creditor claims, which total around $9 billion, are projected to be paid by February 2025.
Will All the Money Flow Back Into the Crypto Market?
A pressing question for many is how much of these payouts will return to the crypto market—if any at all. K33 analysts crunched the numbers on this topic.
They revealed that around $3.9 billion of the claims, out of a total of $14.4 billion to $16.3 billion, had been acquired by loan funds. According to the analysts, it’s unlikely that this portion of the funds will be converted back into cryptocurrencies.
While expectations are high, only a fraction of the overall amount is expected to find its way back into the crypto ecosystem.

#FTXAuction #FTX.Trading.Ltd #HBODocumentarySatoshiRevealed #BinanceLaunchpoolSCR #SECAppealRipple