A key Bitcoin indicator signaling volatility on exchanges is nearing its lowest point of the year, reminiscent of levels before the 2023 rally. According to CryptoQuant's Axel Adler, the current low levels could indicate an upcoming upward trend. The exchange flow multiple values for Bitcoin are notably low, similar to observations before the 2023 rally. This suggests decreased volatility in Bitcoin exchange flows, with investors holding onto their assets in anticipation of a potential price surge. Meanwhile, analysts note increasing short positions in Bitcoin and Ethereum, leading to a decline in prices. Despite uncertainties about Bitcoin reaching six figures by year-end, returning to its all-time high remains feasible. Bitcoin's price recently experienced a 3.22% drop, trading at $63,531. It is essential for readers to conduct their own research before making any investment decisions. Read more AI-generated news on: https://app.chaingpt.org/news

Bitcoin's price dropped by 4.1% on Sept. 30, testing the $63,500 support level and erasing gains from the previous days. The attempt to surpass $66,000 lasted briefly, with minimal liquidation of leveraged long futures. Stock market futures in the US slipped as investors awaited comments from the Federal Reserve Chair. Concerns about the economic outlook and upcoming jobs report are rising. Traders fear a slowdown in the S&P 500 could impact BTC price. Analysts warn of a potential AI bubble triggering market panic. Economic weakness in Europe and escalating tensions in the Middle East add to global risks. Bitcoin's struggle to maintain momentum is attributed to the uncertain socio-economic environment. Traders are opting for safer investments amidst the current uncertainty. Read more AI-generated news on: https://app.chaingpt.org/news

Jameson Lopp, a cypherpunk and co-founder of Casa, emphasized the challenge faced by crypto hodlers in choosing between safety and convenience. Lopp highlighted the importance of user-friendliness in digital asset self-custody solutions, such as Casa's adoption of Yubikey support for storing Bitcoin private keys. Despite debates on the convenience of passkeys versus Yubikey devices, the latter remains a trusted security standard. As Bitcoin custody diversifies with the rise of financialization, Lopp cautioned against blindly trusting institutions like Fidelity or Coinbase. Casa's commitment to self-custody aligns with the core principles of Bitcoin, emphasizing individual control over assets. Lopp's insights shed light on the evolving landscape of crypto custody and the importance of balancing security with ease of use in the digital asset space. Read more AI-generated news on: https://app.chaingpt.org/news

CleanSpark, a US Bitcoin mining company, is currently in the process of restoring power to all its facilities following the impact of Hurricane Helene. The hurricane caused significant flooding, power outages, and damage across multiple states. Initially, CleanSpark's hashrate dropped from 28 exahashes per second to 10.5 EH/s after shutting down 365 MW in Georgia. However, the company has since brought back 200 MW online, raising its operating hash rate to 22 EH/s. CleanSpark aims to have the remaining 165 MW operational by October 4. Despite the hurricane's severity, CleanSpark's mining infrastructure remained intact, with no significant damage reported. The company prioritizes the safety of its team members above all else. Hurricane Helene has resulted in numerous casualties and property damage across several states, with winds reaching up to 140 mph. Bitcoin's hash rate has fluctuated post-hurricane, but CleanSpark remains committed to restoring full power and operations. Read more AI-generated news on: https://app.chaingpt.org/news

Conspiracy theories and scam rumors are common in the crypto industry, often fueled by retail traders lacking market knowledge. Recently, analysts identified a 'Binance manipulator' allegedly influencing Bitcoin's price. Despite evidence of large trades, unproven hypotheses suggest price suppression tactics. The entity's actions, including spoofing, generated fear while stealthily buying contracts. Conflicting data shows entities battling for manipulation, with investors taking profits amid global economic concerns. The theory faces skepticism as the entity's trading strategy aligns with institutional practices like TWAP. The article highlights arbitrage strategies and market maker activities, suggesting the entity may have used futures for hedging. While the 'Binance manipulator' theory remains inconclusive, data points to normal market activity amidst speculation. Disclaimer: This article provides general information and does not constitute legal or investment advice. Read more AI-generated news on: https://app.chaingpt.org/news

Coinbase has confirmed plans to introduce verifiable proof of reserves to its newly launched Bitcoin wrapper, Coinbase Wrapped BTC (cbBTC). This move will align cbBTC with competitors like Wrapped Bitcoin (WBTC) and 21.co Wrapped Bitcoin (21BTC), addressing concerns about Coinbase's transparency. Lukas Staniszewski, a product manager at Coinbase, stated that proof of reserves has been a part of cbBTC's roadmap from the beginning. Despite criticism for lacking transparency compared to other Bitcoin wrappers, cbBTC has gained popularity, with $250 million in total value locked. Notably, cbBTC offers reimbursement for losses from cybersecurity exploits and is overseen by New York's Department of Financial Services. Initially available on Ethereum and Base, Coinbase plans to launch cbBTC on Solana soon. This commitment to transparency and security sets cbBTC apart in the competitive market of Bitcoin wrappers. Read more AI-generated news on: https://app.chaingpt.org/news

A class-action lawsuit against Bitcoin miner Iris Energy has been dismissed by a US District Court judge. The investors alleged that the mining firm concealed risks and misled them during its 2021 initial public offering. However, the judge ruled that there was no evidence of falsified statements or intentional deception by Iris Energy. The lawsuit accused Iris Energy, its executives, and underwriters like J.P. Morgan and Citigroup Global Markets of violating securities laws. Despite claims of inaccuracies in IPO documents and financial disclosures, the court found no proof of intentional misleading. Iris Energy went public in November 2021 but faced a significant share price drop amid a crypto market downturn. The dismissal statement highlighted that the plaintiffs were trying to recover losses from the overall decline in Bitcoin's value. Additionally, the company faced criticism from short-selling firm Culper Research for allegedly being overvalued and underinvested in high-performance computing. Read more AI-generated news on: https://app.chaingpt.org/news

BC.GAME, a prominent crypto igaming platform, has introduced the $BC Mining Rush event with a massive 1 billion $BC token prize pool. Scheduled from October 1 to October 20, 2024, with pre-registration starting on September 24, the event offers daily rewards for bets of $1 or more. This initiative aims to provide an easy entry point into the crypto realm, allowing participants to win daily while keeping the process simple and accessible. With a daily prize pool of 50 million $BC tokens, players can join by wagering a minimum of $1, with larger bets increasing their share of rewards. The user-friendly event requires no complex procedures, enabling players of all levels to engage transparently. Early registration maximizes winning chances, emphasizing BC.GAME's commitment to rewarding its community and attracting new users to crypto gaming. Read more AI-generated news on: https://app.chaingpt.org/news

Velar Dharma, a Bitcoin layer 2 (L2) trading protocol, has partnered with Xverse, a non-custodial wallet for Bitcoin's L2 ecosystem. This collaboration enables Xverse users to trade assets like BTC, STX, and stablecoins directly within the wallet using Velar Dharma's AMM engine. Velar Dharma now serves as the exclusive Bitcoin L2 swap provider on the Xverse platform, offering fast and secure trades on the Stacks L2 network. Xverse, a popular web3 wallet, provides a secure gateway for storing and trading various Bitcoin L2 assets. With Velar Dharma's deep liquidity pools, users can enjoy competitive pricing and enhanced security features, including Ledger integration. The CEOs of both companies expressed excitement about the partnership, highlighting the improved user experience and liquidity in Bitcoin L2 trading. This integration signifies a significant advancement in decentralized exchange services within the Bitcoin ecosystem, expanding DeFi opportunities for a wider user base. Read more AI-generated news on: https://app.chaingpt.org/news

Blockchain technology has revolutionized business operations by providing effective tools for data integrity and security. It involves linking data blocks to form an unalterable chain, enhancing data protection. Unlike traditional systems, blockchain is decentralized, managed by network participants, ensuring transparency and trust. In supply chain management, blockchain enables tracking movements and recording transactions, reducing errors and fraud. This technology also streamlines finance, banking, and online transactions by enabling peer-to-peer transfers without intermediaries, like banks, resulting in faster and more secure transactions. In healthcare, blockchain securely stores and shares patient medical records, improving treatment outcomes. Additionally, blockchain simplifies property transactions by digitizing records, eliminating the need for intermediaries like brokers and lawyers, enhancing transparency and security in real estate deals. Read more AI-generated news on: https://app.chaingpt.org/news

The operator of a cryptocurrency ATM in the United Kingdom has admitted to various offenses related to its operations, including fraud and money laundering. Olumide Osunkoya, the individual in question, managed 11 crypto ATMs in the UK without the necessary registration from the Financial Conduct Authority (FCA). This case marks the first prosecution in the UK under regulations concerning money laundering, terrorist financing, and fund transfers. Over a period from December 2021 to September 2023, these ATMs processed over £2.6 million in cryptocurrency transactions, with evidence suggesting potential involvement in illicit activities like money laundering and tax evasion. Osunkoya allegedly profited significantly from transaction fees, attempted to conceal his actions through false identities and forged documents, and faces a possible 26-year jail term if convicted on all charges. The FCA, which has been overseeing anti-money laundering efforts for crypto businesses in the UK since January 2020, has ordered the closure of unregistered crypto ATMs in the country. Read more AI-generated news on: https://app.chaingpt.org/news

Ohio State Senator Niraj Antani has introduced a bill to legalize Bitcoin and other cryptocurrencies for tax and fee payments in Ohio. The legislation, unveiled on Sept. 30, allows residents to use digital assets like Bitcoin to meet their state and local tax obligations. Antani believes that embracing cryptocurrency is crucial for Ohio's economic future and aims to promote innovation and free enterprise in the state. The bill also permits state universities and public pension funds to invest in cryptocurrencies, offering more financial flexibility. This move follows Ohio's previous attempt in 2018, which was short-lived due to regulatory concerns. If successful, Ohio could become the second state after Colorado to implement a program allowing crypto payments for taxes. Other states like Wyoming and Arizona are also exploring similar legislation, reflecting a growing interest in using crypto for state transactions despite federal caution under the Biden administration. Read more AI-generated news on: https://app.chaingpt.org/news

Federal prosecutors have charged the owner of a crypto company in a case involving cryptocurrency fraud, bribery, and corrupt law enforcement officials. Adam Iza, who operated the Zort crypto trading platform, allegedly amassed wealth through shell companies, spent it on luxuries, and failed to report tens of millions of dollars in income taxes. According to an FBI affidavit filed in an LA federal court, Iza also paid three Los Angeles Sheriff’s Department deputies to unlawfully obtain search warrants and access police data. Referred to as Ahmed Faiq and 'The Godfather,' Iza reportedly boasted about paying the deputies up to $280,000 monthly. The complaint details a campaign of intimidation and harassment against a victim identified as 'E.Z.,' including the use of sensitive law enforcement data. Iza faces charges of conspiracy against rights and tax evasion for concealing millions of dollars in income. Both Iza's lawyer and the LASD have yet to comment on the allegations. Read more AI-generated news on: https://app.chaingpt.org/news

On Sept. 26, the DeFi protocol Onyx fell victim to a $3.8 million exploit, as reported by PeckShield. The exploit leveraged a known bug in Compound Finance v2, previously used against Onyx in November. A flaw in the NFT liquidation contract also played a role. The exploit resulted in the loss of virtual assets like VUSD, Onyxcoin, and stablecoins. The vulnerability in Compound Finance v2 has been exploited before, affecting protocols like Hundred Finance. Onyx acknowledged the incident, attributing it to the NFT contract. PeckShield confirmed the contract's role in the hack. DeFi vulnerabilities, like the one in Onyx, continue to pose risks for users, as seen in recent attacks on protocols like Bedrock and Bankroll Network. Read more AI-generated news on: https://app.chaingpt.org/news

Crypto protocol Bedrock extended a job offer to a hacker who stole $2 million from its uniBTC vaults. Tornado Cash developer Roman Storm will face trial in December after a failed attempt to dismiss the case. Bitcoin surged to a two-month high. Bedrock lost $2 million due to a security breach but chose to reward the hacker with a white hat role. Dedaub discovered a vulnerability in Bedrock's uniBTC vaults that could have led to a $75 million theft. Despite no response from the hacker, Bedrock assured the safety of remaining funds and pledged to resume staking once the issue was resolved. Storm, co-founder of Tornado Cash, faces charges related to money laundering and operating an unlicensed business. Bitcoin's price hit $65,521 on Sept. 26, rising alongside stock markets following the US Federal Reserve's rate cut. Treasury Secretary Yellen believes the rate cut will lead to a 'soft landing' for the economy. Read more AI-generated news on: https://app.chaingpt.org/news

Spot Bitcoin exchange-traded funds (ETFs) in the US experienced their largest daily inflow in over two months as the asset surpassed $65,000 on Sept. 26. The total inflows for the 11 spot Bitcoin ETFs reached $365.7 million on that day, marking the highest since July 22. Institutional products saw a sixth consecutive day of inflows, with ARK 21Shares Bitcoin ETF leading at $113.8 million. BlackRock iShares Bitcoin Trust followed with $93.4 million. Fidelity Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF, and VanEck Bitcoin ETF also saw significant inflows. However, Grayscale Bitcoin Trust experienced outflows. The total inflow for all 11 spot ETFs combined since inception is $18.3 billion. On the other hand, spot Ethereum ETFs faced outflows despite some funds receiving inflows. Grayscale's Ethereum Trust lost $36 million. Bitcoin prices surged by almost 13% in the past two weeks following the Fed interest rate cut. Read more AI-generated news on: https://app.chaingpt.org/news

MicroStrategy, with a market cap comparable to S&P 500 companies, faces hurdles in meeting the index's entry requirements due to inconsistent earnings. Despite holding a significant amount of Bitcoin, its unique structure may not align with the traditional corporate mold of the S&P 500. Experts suggest that MicroStrategy's volatile revenue and earnings may hinder its inclusion in the index. While some believe it's only a matter of time before MicroStrategy joins the S&P 500, others argue that regulatory challenges and earnings consistency could be obstacles. If included, it would be a significant event for the crypto industry, potentially paving the way for other crypto-focused companies. However, the ultimate victory for the industry lies in achieving better regulatory clarity. MicroStrategy's pioneering move of holding Bitcoin in its treasury may influence other corporations to follow suit in the future. Read more AI-generated news on: https://app.chaingpt.org/news

Bolivia's central bank has witnessed a 100% increase in monthly virtual asset trading following the lifting of the Bitcoin ban in late June. Between July and September, an average of $15.6 million in virtual assets was traded monthly, marking a 105% rise compared to the previous 18 months. The total trading volume of $48.6 million over the last three months surpassed the previous six months combined, with stablecoin transactions dominating. The bank credits this surge to the ban lift on Bitcoin and cryptocurrency payments by banks after 42 months. The number of cryptocurrency transactions also surged by 141% in the last three months. Additionally, six more financial institutions have joined to offer virtual asset services, enabling cryptocurrency transactions through approved electronic channels. Bolivia aims to enhance its participation in international commerce through this integration. Read more AI-generated news on: https://app.chaingpt.org/news

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Bitcoin company Swan has filed a lawsuit accusing former employees, along with Tether, of plotting to take over its Bitcoin mining business. The lawsuit claims that ex-employees, including executives, conspired to steal proprietary code, vendors, and business partners. They allegedly resigned en masse to create a rival company, Proton Management. The complaint also alleges that Tether played a role in aiding the scheme. Swan further accuses Proton of soliciting its mining personnel and using Tether to harm Swan's competitiveness. The lawsuit details how Proton's CEO, a former Swan executive, attempted to disrupt Swan's operations and take over its mining management. Swan is seeking a permanent injunction against Proton and damages. The case is ongoing, with Swan investigating the alleged theft of data and trade secrets by its former employees. Read more AI-generated news on: https://app.chaingpt.org/news