Headlines
BTC breaks through $65,600
The market shows that BTC has broken through $65,600 and is now trading at $65,608, with a 24-hour drop of 0.06%. The market is volatile, so please do a good job of risk control.
▌FTX bankruptcy distribution plan has not been approved yet, and compensation will not be paid on September 30
According to the FTX bankruptcy administrator, compensation will not be paid on September 30, and the related rumors are untrue. The restructuring compensation plan has not yet been approved by the court, and the confirmation hearing is scheduled for October 7, 2024. If the plan is approved, creditors with claims less than $50,000 are expected to receive compensation by the end of 2024, while creditors with large claims may have to wait until 2025. Some creditors demanded compensation in crypto assets rather than cash, so the plan faced some opposition.
Quotes
As of press time, according to Coingecko data:
BTC's latest transaction price is $65,526.84, with a daily change of -0.5%;
ETH's latest transaction price is $2,656.54, with a daily change of -0.8%;
BNB's latest transaction price is 595.00 USD, with a daily change of -1.0%;
SOL's latest trading price is $158.48, with a daily change of +0.9%;
DOGE's latest transaction price is 0.1241 yuan, with a daily change of -3.4%;
XPR recently traded at $0.6432, with a daily change of +4.6%.
policy
▌Legal expert: The US SEC v. Green United case is mainly aimed at specific fraudulent behavior
According to Decrypt, the U.S. Securities and Exchange Commission (SEC)'s lawsuit against the crypto company GreenUnited has recently attracted industry attention. The SEC accused Green United of defrauding investors of $18 million by selling so-called "GreenBoxes" mining equipment. Last week, a federal judge rejected GreenUnited's request to dismiss the case, which sparked speculation on social media that the sale of crypto mining hardware might be considered securities. However, several legal experts said there is no reason to worry too much at this time. Ishmael Green, a partner at DiazReus law firm, pointed out that as long as the mining equipment is sold with the understanding that the end user is mining, there will be no problem. "
In the Green United case, the sales agreement for the mining equipment stated that Green United would control and operate the system, which was the problem. "Although the SEC did not explicitly mention managed mining, this could have an impact on managed mining services," said Hadas Jacobi, a consultant at ReedSmith law firm. Although Green United tried to portray the case as a misunderstanding of managed mining by the SEC, the judge rejected its request to dismiss the case. The judge has only decided to hear the case and has not ruled on the SEC's arguments.
Blockchain Applications
Coinbase app downloads have now risen to 385th place
Coinbase is frequently among the top 500 apps in the Apple App Store in terms of downloads, according to analytics account Bitcoindata 21. After a dip this month, its popularity is rising again. Coinbase has now reached No. 385.
The chart shows that downloads are closely related to Bitcoin price performance. During the bull market, Coinbase was ranked in the top 175. Currently, as Bitcoin prices rebound, user interest has picked up. Santiment analysis pointed out that although positive comments have reached the highest level of the year, new historical highs are still to be expected.
Cryptocurrency
▌7 BTC flowed into the Salvadoran government address in the past week
Data shows that the El Salvador government address had a net inflow of 7 BTC in the past week, worth approximately US$458,996.02.
▌FTX plans to allocate $230 million to shareholders, causing dissatisfaction among creditors
Creditors were outraged by FTX’s plan to set aside $230 million from seized assets to certain preferred shareholders, a decision that was only revealed after a creditor vote. FTX argued the move was intended to avoid litigation and delays, even though creditors are generally given priority for compensation. A confirmation hearing for the restructuring plan is scheduled for October 7.
▌Almost 94% of Bitcoin addresses are profitable
According to Bitcoin Magazine on Platform X, almost 94% of Bitcoin addresses are in profit.
▌Sui: TVL has reached 1 billion US dollars
Sui said on the X platform that in less than two years since the launch of the Sui mainnet, the total locked value (TVL) has reached $1 billion.
▌Ripple CTO questions Evernode’s new token plan, warns of the risk of rising XRPL network fees
Evernode's plan to introduce Hooks and a new token, Codii, to the XRP Ledger (XRPL) to enhance programmability has been questioned by Ripple CTO David Schwartz. Schwartz believes that the plan is too complicated and has no obvious benefits, and warns that it may push up transaction fees across the network due to increased resource requirements. Evernode co-founder Scott Chamberlain proposed that Codii tokens be used to pay for the execution of Hooks, but Schwartz advocated that XRP should be used directly to simplify the system and avoid unnecessary fee increases.
▌Analysis: FTX repayment plan may drive further bullishness in the market
FTX may repay creditors in October, and users may recover 10% to 25% of their crypto assets. The plan will be determined after the court hearing on October 7. Analysts believe that the repayment plan may encourage creditors to reinvest funds in the market, further fueling the current bullish trend.
▌Bitcoin miners’ hash price rebounds, profit outlook optimistic
In the past 30 days, the Bitcoin hash price has increased by 10.33%, including an increase of 8.93% in the past four days alone. The current hash price is $47.42. The hash price refers to the estimated daily revenue of 1 PH/s Bitcoin hash power. Miners' revenue is driven by the rise in Bitcoin prices and the 4.6% reduction in difficulty on September 25.
Important economic developments
▌The probability of the Federal Reserve cutting interest rates by 50BP in November is 52.8%
According to CME's "Fed Watch": The probability of the Fed cutting interest rates by 25 basis points by November is 47.2%, and the probability of cutting interest rates by 50 basis points is 52.8%. The probability of a cumulative rate cut of 50 basis points by December is 21.6%, the probability of a cumulative rate cut of 75 basis points is 49.8%, and the probability of a cumulative rate cut of 100 basis points is 28.6%.
Golden Encyclopedia
What is the Algorithm of Thought (AoT)?
Algorithms of Thought (AoT) is a groundbreaking approach in the field of artificial intelligence (AI) that revolutionizes the way AI models think and reason. Developed by Microsoft Research, AoT introduces a new paradigm for large language models (LLMs) to enhance reasoning capabilities to solve complex problems. It aims to combine the best of both worlds: a nuanced, intuitive understanding of the human thought process with the structured, systematic nature of an algorithmic approach.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
