According to CoinDesk, HBO's upcoming documentary (Money Electric: The Bitcoin Mystery) has sparked speculation and discussion in the crypto community about the identity of Bitcoin founder Satoshi Nakamoto. Meme coins surrounding cryptographer Len Sassaman and his cats Sasha and ODIN have emerged on the Solana, Ethereum and Bitcoin networks.
Polymarket bettors believe Sassaman could be Satoshi Nakamoto. LEN tokens on Solana and Ethereum have seen a multi-million dollar market cap in the past week. Another LEN token, issued four months ago, has seen a price increase on Solana and is now worth more than $1.6 million. SASHA tokens on Ethereum and Solana have seen a market cap of more than $5 million in the past week. Crypto users contacted Sassaman’s wife, Meredith L. Patterson, to get a Solana address to donate tokens.
Meme coins are often used as part of Internet culture, using the power of the community to drive the value of tokens. Anyone can issue tokens on BSC or other blockchains and trade them through decentralized exchanges.
The HBO documentary (Money Electric: The Bitcoin Mystery) is scheduled to air on October 8. Sassaman is listed at 35% odds on Polymarket, with Hal Finney and Adam Back also on the shortlist.
● CoinShares: Net outflow of digital asset investment products was $147 million last week
According to Odaily Planet Daily, CoinShares' latest weekly report shows that digital asset investment products had a net outflow of $147 million last week. Last week's economic data was higher than expected, reducing the possibility of a sharp interest rate cut, which may lead to weak investor sentiment.
From a regional perspective, Canada and Switzerland had inflows of US$43 million and US$35 million, respectively, while the United States, Germany and Hong Kong saw outflows of US$209 million, US$8.3 million and US$7.3 million, respectively.
Bitcoin saw $159 million in outflows, while short Bitcoin saw $2.8 million in inflows. Ethereum saw $29 million in outflows last week, and investor interest in the asset remains low.
● NYDIG: Bitcoin up 49.2% year to date despite weak third quarter
According to BlockBeats, on October 7, New York Digital Investment Group (NYDIG) said that despite a "seasonally weak" third quarter, Bitcoin is still the best performing asset so far this year. Greg Cipolaro, head of research at NYDIG, said in a report on October 4 that sales grew by only 2.5% in the third quarter, rebounding after a decline in the second quarter, but was hampered by large-scale sales during the same period.
Cipolaro said Bitcoin is up 49.2% year to date. Trading has largely remained range-bound over the past six months amid major headwinds such as the Mt. Gox and Genesis creditor distributions and massive BTC sell-offs by the U.S. and German governments. Cipolaro added that other assets such as precious metals and certain equity sectors have risen relative to BTC, and most asset classes have had a "stellar year." Bitcoin also bucked the trend in September, rising 10%, which is typically a bearish month for the asset.
● Fold submits S-4 filing to US SEC in preparation for listing
According to Odaily Planet Daily, Bitcoin financial services company Fold has submitted an S-4 document to the US SEC in preparation for listing. Currently, Fold's company treasury holds more than 1,000 BTC.
● US judge approves FTX bankruptcy reorganization plan, creditors will soon be compensated
According to Golden Finance, a U.S. bankruptcy judge officially approved FTX's bankruptcy reorganization plan, marking the start of the compensation process two years after the exchange's collapse. About 94% of creditors support the plan. Although some creditors expressed dissatisfaction with the failure to pay the original value of the cryptocurrency, the court still decided to settle in cash. The judge also ruled that FTX's native token FTT is worth zero.
According to Golden Finance, the "FTX bankruptcy plan" was criticized by Sunil Kavuri, the representative of the largest FTX creditor group. Kavuri stated that when FTX files for bankruptcy in 2022, the asset management agency to be liquidated should be paid in the form of physical cryptocurrency rather than in US dollars. David Adler, a lawyer representing some creditors, also stated in court that if creditors receive compensation in cash rather than in kind, they will face huge taxes.
As previously reported, John Dorsey, a judge at the Delaware Bankruptcy Court, approved the bankruptcy plan of the cryptocurrency trading platform FTX to initiate the process of distributing funds to creditors. According to the FTX bankruptcy plan, 98% of creditors will receive cash of approximately 119% of the value of their claims within 60 days after the liquidation plan takes effect. Funds of US$14.7 billion to US$16 billion will be returned to creditors. The debtor will separately announce the effective date of the plan and the expected first distribution date at an appropriate time.
