This week, Bitcoin experienced a modest surge of 1.30%, fluctuating between $59,000 and $64,000. The week also saw the premiere of the HBO documentary Money Electric: The Bitcoin Mystery, which delves into the enigma surrounding the elusive creator of Bitcoin, Satoshi Nakamoto.
The film posits that Peter Todd, a prominent Bitcoin Core developer, may be the actual Nakamoto. However, a closer examination reveals several inconsistencies that challenge this assertion.
In addition, the past seven days have been bustling with significant developments in the dynamic crypto landscape, including legal challenges and groundbreaking advancements.
Join us as we explore six pivotal crypto stories from the week! Check them out below!
For transparent and decentralized crypto trading and to list your crypto token for free, visit our website and follow Melega Finance (@meleganews) on X for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (October 06 - October 12, 2024)
●      SEC Charges Cumberland DRW LLC for Unregistered Crypto Dealership
●      HBO Documentary Names Peter Todd as Satoshi Nakamoto
●      FBI Uses Fake AI Crypto to Catch Fraudsters
●      Mt. Gox Delays Creditor Repayment to October 2025
●      Ripple Expands Into Crypto Custody Services for Banks and Fintech
●      Crypto.com Sues SEC to Defend US Crypto Industry
SEC Charges Cumberland DRW LLC for Unregistered Crypto Dealership
On October 10, 2024, the SEC charged Chicago-based Cumberland DRW LLC with operating as an unregistered dealer in over $2 billion worth of crypto assets. From 2018 onward, Cumberland allegedly bought and sold crypto assets, classified as securities, without proper registration. The SEC claims Cumberland profited from its dealer activities while bypassing regulations designed to protect investors. The lawsuit, filed in Illinois, seeks to impose penalties, recover illicit profits, and enforce compliance with the Securities Exchange Act. The case is part of ongoing scrutiny of crypto markets by the SEC’s Crypto Assets Unit.
HBO Documentary Names Peter Todd as Satoshi Nakamoto
In an HBO documentary, Canadian Bitcoin core developer Peter Todd was identified as Bitcoin's creator, Satoshi Nakamoto. Producer Cullen Hoback confronted Todd with evidence, leading Todd to say, “Well yeah, I’m Satoshi Nakamoto.” However, this admission has been questioned, as Todd has previously denied being the inventor and often jokes about it. He reiterated on social media after the documentary's release, stating, “I am not Satoshi,” emphasizing the importance of the real creator’s privacy.
FBI Uses Fake AI Crypto to Catch Fraudsters
The FBI created a fake cryptocurrency, NexFundAI (NEXF), to expose fraudsters involved in market manipulation. According to an Oct. 7 indictment, the agency posed as investors seeking to inflate the token's trading volume, misleading potential buyers. This marks the first time the FBI has admitted to launching a cryptocurrency for investigations. MyTrade MM, a market-making firm, is implicated in the scheme, with its founder facing charges of conspiracy and wire fraud, potentially leading to a five-year prison sentence.
Mt. Gox Delays Creditor Repayment to October 2025
The trustee managing the defunct crypto exchange Mt. Gox has extended the deadline for creditor repayments to October 31, 2025. Many creditors have not completed the required procedures, leaving over 44,900 Bitcoin unpaid. Mt. Gox, once handling 70% of global Bitcoin transactions, collapsed in 2014 after security breaches and hacks. While $9.4 billion has been distributed to creditors, $2.8 billion remains. The repayment process has faced issues, including overpayments to some users, raising concerns about its impact on Bitcoin prices.\
Ripple Expands Into Crypto Custody Services for Banks and Fintech
Ripple has launched digital asset custody services, allowing banks and fintech firms to store cryptocurrencies securely. This move helps Ripple diversify beyond its payment settlement business and enhances its offerings through Ripple Custody, which integrates with the XRP Ledger. The new services provide pre-configured settings, Anti-Money Laundering risk monitoring, and a user-friendly interface. With growing institutional demand for secure crypto storage, Ripple’s custody arm has seen 250% year-on-year growth. It now operates in seven countries, positioning it as a key player in the custody market.
Crypto.com Sues SEC to Defend US Crypto Industry
Crypto.com has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), challenging its regulatory approach. CEO Kris Marszalek announced the move on October 8, stating it aims to protect the future of the crypto industry in the U.S. The lawsuit follows Crypto.com receiving a Wells notice from the SEC, which the company claims is part of an unjust enforcement campaign. Crypto.com argues that the SEC is overstepping its authority by treating most crypto assets as securities, calling for clearer federal agency rules.
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Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
#MelegaSwap #melega #melegamarco #blackpump #satoshiNakamato  
 

Bitcoin dropped 5.83% this week, falling from over $65,000 to about $62,000. While many altcoins suffered, SUI surged 115% in a month after adding USDC to its blockchain, boosting user activity.
In other news, the upcoming HBO documentary “Money Electric: The Bitcoin Mystery” hints at revealing the true identity of Bitcoin's creator, Satoshi Nakamoto. Filmmaker Cullen Hoback is behind the project.
As such, late cryptographer Len Sassaman is gaining attention, with Polymarket bettors believing he might be unveiled as Bitcoin's inventor in the documentary.
Let’s dive into six key crypto stories from the past week! Check them out below!
For transparent and decentralized crypto trading and to list your crypto token for free, visit our website and follow Melega Finance (@meleganews) on X for more on all things cryptocurrency.
TOP CRYPTO NEWS RECAP (September 29 – October 05, 2024)
● HBO Documentary Teases Revelation of Bitcoin's Creator, Satoshi Nakamoto
● Coinbase to Delist Noncompliant Stablecoins by December under EU MiCA Rules
● Visa Unveils Tokenized Asset Platform for Digital Asset Management
● SEC Appeals Ripple Ruling on XRP Classification
● PayPal Completes First Corporate Payment Using PYUSD Stablecoin
● SWIFT to Launch Digital Asset Trials with Banks in 2025
HBO Documentary Teases Revelation of Bitcoin's Creator, Satoshi Nakamoto
Filmmaker Cullen Hoback, known for his HBO miniseries on QAnon, is set to release a new documentary, Money Electric: The Bitcoin Mystery. The documentary hints at the possible unveiling of Bitcoin creator Satoshi Nakamoto. While Hoback teases that the film could reveal Nakamoto’s identity, neither the trailer nor his statements confirm if an individual or group has been definitively identified. The documentary, airing on October 8, explores the long-standing mystery surrounding Bitcoin's origins, which has intrigued the crypto community since Nakamoto's disappearance in 2010.
Coinbase to Delist Noncompliant Stablecoins by December under EU MiCA Rules
Coinbase will remove stablecoins that don’t comply with the European Union’s Markets in Crypto-Assets (MiCA) regulations by December 30, 2024. This move aligns with stricter oversight of crypto firms. European Economic Area (EEA) users can convert non-compliant stablecoins into compliant ones like USD Coin (USDC). MiCA requires stablecoin issuers to hold an e-money license within the EU, impacting major tokens like Tether (USDT). Other exchanges, such as OKX and Bitstamp, are also adjusting their offerings to meet these regulations.
Visa Unveils Tokenized Asset Platform for Digital Asset Management
Visa introduced the Visa Tokenized Asset Platform (VTAP)on October 3. It is designed to issue and manage digital assets, including stablecoins and central bank digital currencies (CBDCs). In a sandbox phase, participants like Banco Bilbao Vizcaya Argentaria (BBVA) are testing the platform. VTAP offers an infrastructure for secure minting, transferring, and settling digital assets across blockchains. Visa aims to help banks digitize operations using blockchain technologies, with plans for a live pilot phase in 2025, leveraging public and permissioned blockchains for interoperability.
SEC Appeals Ripple Ruling on XRP Classification
On October 2, the U.S. Securities and Exchange Commission (SEC) filed an appeal in its lawsuit against Ripple Labs, aiming to overturn a 2023 ruling by Judge Analisa Torres. The ruling declared that secondary sales of Ripple's XRP did not qualify as securities under the SEC's Howey test. While Torres ruled early sales to institutional investors as securities, the broader decision was seen as a win for Ripple and the crypto industry. The appeal could reignite legal challenges surrounding XRP’s classification.
PayPal Completes First Corporate Payment Using PYUSD Stablecoin
On October 3, PayPal processed its first business paymentusing its proprietary stablecoin, PayPal USD (PYUSD), in a transaction with accounting giant Ernst & Young. The payment was facilitated through SAP’s digital currency hub, though the invoice amount was undisclosed. Launched in August 2023, PYUSD is backed by U.S. dollar deposits and short-term U.S. Treasuries. PayPal’s senior vice president, Jose Fernandez da Ponte, highlighted the stablecoin’s potential for corporate transactions, offering faster payments with reduced volatility. PYUSD currently ranks eighth among stablecoins in terms of market capitalization.
SWIFT to Launch Digital Asset Trials with Banks in 2025
SWIFT announced that it will begin trials of digital assets in 2025, involving banks from North America, Europe, and Asia. The trials will explore multi-ledger transactions across digital currencies and asset classes, focusing on payments, foreign exchange, and securities. SWIFT aims to address the fragmentation in the digital asset space, linking disconnected platforms and digital currencies with traditional financial systems. The goal is to create a unified network for seamless global transactions using digital assets and fiat currencies.
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Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.
#blackpump #blackpumpfun #melega #melegamarco #MelegaSwap