Uniswap Labs announced plans to launch its L2 network on Ethereum called Unichain. Crypto exchange Bitnomial sues US SEC for exceeding its authority by classifying XRP as a security. Ethena Labs Announces Allocating $46 Million From Reserve Funds Into Tokenized Real-World Assets. US SEC sues Cumberland DRW for operating as an unregistered crypto broker.BlackRock has bought $742 million worth of Bitcoin in the past 16 days, according to data from Lookonchain.
The “Unstoppable” S&P 500 Index Adds $13 Trillion in Market Cap Amid Political Uncertainty
The S&P 500 is up more than 21.5% year-to-date and over 33.3% over the past 12 months, adding $13 trillion to its market capitalization since October 2023. Kobeissi Letter highlighted the index's growth as remarkable, recording its biggest gain since 1997, despite geopolitical tensions and fears of a financial crisis. The index has nearly doubled last year's 11.7% gain and is off to the best start to a presidential election year in history.
Cryptocurrency markets are in the red as Bitcoin (BTC) falls below $61,000 due to increased selling pressure. Concerns flared as cryptocurrencies linked to the PlusToken Ponzi scheme were transferred to exchanges, causing panic. Whales deposited 1,500 BTC worth $91.1M into exchanges, incurring huge losses. These whales accumulated BTC at an average price of $64,434, but sold at $61,965, incurring a loss of $50M.
US government prosecutes cryptocurrency companies for fraud
The US government has sued three cryptocurrency companies and 15 individuals for manipulating cryptocurrency prices for illicit profits. 🏛️ Related companies: Gotbit, ZM QUANT, CLS Global. 📍 The case was filed in Boston court. Manipulated tokens: VZZN, NextFund AI, Saitama.
They provided illegal manipulation services, inflating prices and trading volumes while hiding profits. Investigations revealed secret text messages and calls. Saitama once made $7.5 billion by manipulating the market. CEO Manpreet Kohli was arrested along with five others. The FBI is rumored to have created NextFund AI to track down fraudsters.
German MP Joana Cotar Backs Bitcoin As A Solution Against Inflation
Joana Cotar, a member of the German Parliament, believes that Bitcoin can fight inflation and promote economic independence. In an interview on October 9, Cotar said inflation is “taking away people’s money” and sees Bitcoin as a means to achieve financial autonomy. She stressed the importance of personal financial autonomy, especially during times of economic uncertainty, arguing that Bitcoin allows people to manage their assets without relying on traditional banks.
Bitcoin Is Preparing for a Massive Bull Run With a “Golden Cross” and a $10 Billion Short Squeeze
Bitcoin is gaining traction as more investors decide to hold onto their assets, showing growing confidence in its long-term value despite market volatility. A $10 billion short squeeze could push Bitcoin to new highs, according to analyst MartyParty. 📉 A $10 Billion Short Squeeze Could Happen If Bitcoin reaches $66,200, about $10 billion in short positions are at risk of being liquidated, said MartyParty, an expert. As the short positions are closed, the price of Bitcoin will automatically be pushed higher.
BREAKING: 48% of US Homes for Sale Have Been on the Market for 60 Days or More
🏡 In August, nearly half of all US homes listed were on the market for at least 60 days, the highest for any August since 2019.
📈 Key Figures: Time on Market 60 Days or More: Up from 43% in August 2023.Time on Market 30 Days or More: Up to 69% from 64% last year.Average Time to Sell: 37 days, 6 days longer than a year ago.
US Supreme Court Clears Way for Liquidation of $4.38 Billion in Silk Road-Linked Bitcoin
The US Supreme Court has refused to hear a case involving 69,370 Bitcoins seized from the dark web marketplace Silk Road, paving the way for the liquidation of the $4.38 billion worth of Bitcoins. 📜 Key Points: Appeal dismissed: Battle Born Investments, the company that claimed ownership of the Bitcoins through Raymond Ngan's bankruptcy estate, lost its case. Both the federal and appellate courts did not believe that Ngan was the hacker "Individual X."
🚨 Market Update: Bitcoin Price Drops as 'Uptober' Begins with Mass Liquidations in Market Amid Rising Conflict in the Middle East 😨 Ethereum also recorded a 5.6% drop as global tensions impacted the market. Nearly $250 Million Liquidated From Crypto Markets In The Last 4 Hours! EigenLayer's $EIGEN token is now trading on all major exchanges.
Giant Whales Continue to Deposit Bitcoin into Exchanges Amid Market Crisis!
A major whale has made a notable move by continuing to deposit Bitcoin (BTC) into centralized exchanges (CEX) even as the cryptocurrency market is reeling following Iran’s attack on Israel. 🔍 Noteworthy Details: Massive Accumulation: This whale accumulated a total of 3,933 BTC ($234 million) from Binance at an average price of around $59,591 between August 29 and September 15.
The total money supply in the United States, the Eurozone, Japan and China has hit a new record of $89.7 trillion, up $7.3 trillion over the past year. This is the largest increase in three years, similar to the initial response to the pandemic in 2020.
In the United States, the amount of money in circulation increased by $410 billion compared to last year, bringing the total money supply to $21.2 trillion, up 27% from the beginning of 2020. This marks the return of global money printing.
In addition, the US dollar has lost 25% of its purchasing power in just the past four years. Inflation is clearly not “temporary” as many had predicted.
Ripple Gets Key License in Dubai, Pushing Forward Expansion in the Middle East
🚀 Ripple Labs, the leading US blockchain payments company, has just made a major breakthrough in its global journey by receiving an operating license from the Dubai Financial Services Authority (DFSA). With this approval, Ripple can expand its services from the Dubai International Financial Center (DIFC) – one of the important gateways to the Middle East. 🌍💼 🔥 With a payment network already in place in the MENA region, Ripple can now provide a more robust payment solution to more customers and partners. In particular, receiving this license also demonstrates Ripple's strong commitment to complying with international laws and promoting cross-border business. 📈🌐
Market Performance and Development 📉 Record September for Bitcoin: September has been the best month for Bitcoin according to data from Coinglass. Liquidations: Nearly $250 million has been liquidated from the crypto market in the past 4 hours. Bitcoin Price: Bitcoin has fallen below $61,000. Eigenlayer Token: Eigenlayer token is trading on exchanges with a $7 billion fully realized value (FDV), according to information from The Block.
✅ Bitcoin closed in the green for three of the last four weeks, signaling a bullish October ahead. Inflows into Bitcoin ETFs exceeded $1 billion this week, boosting market sentiment 🐂 💎 Crypto Binance founder CZ walks free from US prisonHamster Kombat revealed its 2024-2025 roadmapMango Markets to destroy MNGO tokens in SEC settlementFake WalletConnect app on Google Play stole $70,000 worth of cryptoPhilippine government promotes crypto and NFT educationPolymarket seeks $50 million investment
CZ's Strong Return: Changpeng Zhao's New Focus After Being Released From Prison
After six months in prison in the United States, Binance co-founder Changpeng Zhao (CZ) is back with a focus on education, philanthropy, and technology. His role at Binance is over, but his vision lives on. 📢 New Initiative In his first tweet, CZ pivoted from crypto to impactful projects, defining himself as a “long-term investor” with “impact, not profit.” Key projects include:
📈 Mark Zuckerberg's fortune has grown to a staggering $201 billion—sixfold in just two years, thanks largely to a 60% surge in Meta Platforms Inc. stock. He's now the fourth-richest person in the world, behind Jeff Bezos, Bernard Arnault, and Elon Musk. 🌐 Despite its financial success, the metaverse remains controversial. Many argue that Zuckerberg's wealth growth is largely due to AI, not the metaverse.
Hong Kong Aims to Become Global Crypto OTC Hub with EU-Style Reporting
📢 Hong Kong’s financial regulators, the HKMA and the SFC, are expected to regulate the reporting of OTC derivatives products, including crypto derivatives, in line with international standards starting from September 2025. Key points of the new regulations include: Implement Unique Transaction IDs (UTIs), Unique Product IDs (UPIs), and Critical Data Elements (CDEs) to align with global practices.