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💰 Mass Liquidations Impact Over 100,000 Traders Amid Crypto Market Downturn

Bitcoin’s price briefly dipped to an intraday low of $59,860 shortly after 9 a.m. EDT on Oct. 3, 2024. As of 1 p.m., the cryptocurrency is trading above the $60,000 mark, though it continues to face challenges in maintaining this key psychological level.

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🪙 Ethereum Foundation has sold over $10 million worth of ether this year

The Ethereum Foundation sold another 100 ether, pushing this year's total to over $10 million worth of the cryptocurrency, according to data posted by blockchain analytics provider Lookonchain. The organization "sold 100 ETH ($263,000) again 30 mins ago," Lookonchain posted to X on Monday. "Ethereum Foundation has sold a total of 3,766 ETH ($10.46 million) this year."

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💰 Bitcoin climbs to $66,000, marking best September performance in history

Bitcoin (BTC) surged past $66,000 on Sept. 27 as New York opened for trading, reaching a two-month high to record its best September performance on record. The rally comes amid economic stimulus measures in China and the US Federal Reserve policy decision to cut interest rates, which have helped sustain recent market optimism. The surge is also driven by sustained institutional demand for spot Bitcoin ETFs.

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🪙 #Bitcoin’s correlation with global liquidity outshines gold and stocks

Bitcoin (BTC) moves in sync with global liquidity 83% of the time, surpassing all other major asset classes, according to a report by venture capitalist Lyn Alden. According to the report, Bitcoin has shown a strong correlation with global liquidity over the years, with the flagship crypto generally rising when liquidity expands and correcting when global liquidity shrinks. The report added that this makes Bitcoin the “purest liquidity barometer.”

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💰 BlackRock’s head of digital assets says #Bitcoin is risky, but still a ‘risk-off’ asset

BlackRock head of digital assets Robbie Mitchnick believes the crypto industry has made a marketing blunder when it comes to Bitcoin (BTC). Mitchnick said during an interview with Bloomberg that Bitcoin is a risky asset, but calling it a “risk-on” asset is a mistake akin to an “own goal.”.

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🇨🇳 China persists as 💰 #Bitcoin mining giant despite crypto ban – CryptoQuant

China continues to control 55% of the global Bitcoin network’s hashrate, despite a ban on crypto mining and trading that has been in effect since 2021. According to CryptoQuant data, the country’s significant presence in Bitcoin mining persists, but its dominance is now being challenged as other countries, such as the US, increase their share of hashrate.

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🚨 North Korea-linked hack costs crypto exchange BingX $52 million in crypto

Crypto exchange BingX confirmed that it experienced a “minor asset loss” after detecting suspicious outflows from one of its hot wallets. In a post on Sept. 20, BingX’s Chief Product Officer Vivien Lin stated that the exact amount stolen from the breach was still under evaluation and that the incident occurred around 4:00 A.M. Singapore time.

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💰 CleanSpark doubles down on Bitcoin mining with new Mississippi acquisitions

CleanSpark has intensified its Bitcoin mining efforts by acquiring two new sites near Clinton, Mississippi. According to the firm, the locations will house S21 Pro miners, providing a combined operating hash rate of roughly one exahash per second (EH/s). It added that it would receive the site turnkey-ready by Dec. 1. With these additions, the company’s data center capacity in Mississippi will grow to 60.5 MW.

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🔵 Circle is launching USDC on Sui, marking its 15th network integration

Circle, the issuer of the second-largest stablecoin, plans to launch a dollar-denominated token on the Layer 1 blockchain Sui as early as next week, according to Circle co-founder and CEO Jeremy Allaire on Tuesday. The move was accompanied by a series of announcements for the stablecoin giant, including an integration with MoviePass that will enable users to pay for subscriptions with crypto and news that USDC is live in Brazil and Mexico.

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💰 MicroStrategy buys $1.1 billion in #Bitcoin amid market volatility

MicroStrategy acquired approximately 18,300 Bitcoin for $1.1 billion between Aug. 6 and Sept. 12 at an average price of $60,408 per BTC, according to a Sept. 13 filing with the US Securities and Exchange Commission (SEC). Coinflip data shows the company’s latest purchase already has a paper loss of $2.2 million due to the top digital asset’s current volatility.

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💰 Grayscale launches new #XRP closed-end fund, token jumps 8%

Grayscale said Thursday it's planning to launch an "closed-end" fund that will allow investors to gain exposure to the popular token. The firm once managed an XRP fund it then shut down in 2021 after the U.S. Securities and Exchange Commission sued Ripple and argued that the digital asset XRP is a security under U.S. law. Ripple, which utilizes XRP, the native asset of the XRP Ledger, is the company most closely associated with the token.

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🇺🇸 Harris campaign criticized for ignoring crypto in policy statement

Vice President Kamala Harris‘s campaign released a policy statement outlining her administration’s key priorities. However, there is a notable omission—crypto. Harris’s campaign promises highlighted various sectors—including semiconductors and artificial intelligence—and even extensively mentioned her political rival, former President Donald Trump, in the policy statement.

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🏦 Coinbase scores partial victory in legal battle against the SEC

Crypto exchange Coinbase secured a partial victory in federal court this week in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). In a filing dated Sept. 5, the US District Court for the Southern District of New York, Judge Katherine Failla partially granted Coinbase’s motion to compel the SEC to hand over documents related to the agency’s categorization of crypto tokens as securities.

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🟠 Binance Kazakhstan Receives Formal Consent for Regulatory License

Binance Kazakhstan received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license, marking a major step toward becoming Kazakhstan’s first fully regulated Digital Asset Trading Facility (DATF). The approval followed rigorous evaluations, including financial audits and ISO certifications. Once licensed, Binance will manage virtual assets, offer custody services, and conduct principal investments.

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❄️ TON blockchain's success shows crypto has gone mainstream: Midas CEO

Dennis Dinkelmeyer, CEO of asset tokenization platform Midas, said that 2024 is the year that blockchain goes “mainstream” following the success of The Open Network and its integration with the popular messaging app Telegram. In a Tuesday report shared with The Block, Dinkelmeyer argued that while crypto has grown significantly, it has struggled to achieve mass adoption and sustainable, real-world use cases outside of niche areas.

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🇧🇴 Crypto Trading Volumes Double After Lifting of Ban in Bolivia

According to data from the Central Bank of Bolivia, operations with crypto assets rose in the last three months after the institution lifted a blanket ban on using the banking system for these transactions. Volumes doubled on average, with stablecoins leading the way and transaction numbers also rising.

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💰 US spot #Bitcoin ETFs continue net inflow streak, reaching $365 million on sixth day

Spot bitcoin exchange-traded funds in the U.S. recorded total daily net inflows of $365.57 million on Thursday, the largest since late July. Thursday’s inflows extended the positive run to its sixth consecutive day, according to Sosolvalue data. Yesterday’s net inflows were led by Ark Invest and 21Shares’ ARKB, which recorded positive flows of $113.82 million, according to SoSoValue data.

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🇺🇸 PayPal to allow US business accounts to buy and transfer crypto

In another effort to expand its presence in digital assets, PayPal announced plans to enable U.S. business customers to buy, sell, hold, and transfer cryptocurrencies. "Today's announcement is PayPal's latest step to increase cryptocurrency's utility by making increased functionality available to millions of merchants in the U.S.," the company said, adding that when the service launches, it will not be available to business accounts based in New York State.

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🇺🇸 BNY Mellon moves closer to offering #crypto ETF custody services: Bloomberg

America's oldest bank, BNY Mellon, is drawing closer to offering custodial services to exchange-traded fund clients, according to Bloomberg. The progress towards being in a position to offer the services comes "after a review enabled the company to avoid treating the assets as a balance-sheet liability," said the report.

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💰 Woman Sentenced to 8 Years in Prison After Failed Bitcoin Murder-for-Hire Plot

A woman has been sentenced to over eight years in prison after her murder-for-hire plot using bitcoin fell apart. Melody Sasser attempted to use the dark web to hire a hitman to kill an Alabama resident. She paid nearly $10,000 in cryptocurrency and tried to make the murder look like an accident. Authorities discovered incriminating evidence in her home, leading to her arrest and conviction.

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🪙 Ethereum core devs agree to split ‘Pectra’ upgrade into multi-phase rollout

Ethereum developers agreed to take a multi-phase approach in implementing the highly anticipated ‘Pectra’ upgrade during the latest Consensus Layer Meeting on Sept. 19. The decision comes after growing concerns about the complexity of delivering the upgrade in one release, which increased the risk of technical issues and bugs.

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🔥 BREAKING: 🇺🇸 Federal Reserve cuts interest rates by 50bps for the first time in 4 years.

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💰 Bitcoin exchange depositing addresses at lowest level in years, indicating potential relief in selling pressure: CryptoQuant

Bitcoin centralized exchange depositing addresses are at their lowest level since 2016 which could indicate a reduction in selling pressure. The number of bitcoin exchange depositing addresses has dropped to 132,100, a multi-year low, according to a recent CryptoQuant research note. This metric represents the number of addresses sending inflow transactions to exchanges, and the analysis suggests that a multi-year low indicates a decrease in the number of investors selling coins on spot exchanges.

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🟠 US authorities pressure Nigeria to release detained #Binance exec Tigran Gambaryan

The U.S. government is pushing Nigerian officials to release Tigran Gambaryan, the Binance executive who has been detained in the country for the past seven months, according to The New York Times. The move comes amid deteriorating health conditions for Gambaryan and mounting pressure from onlookers advocating for his release.

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🇬🇧 UK Parliament proposes legislation to recognize digital assets as personal property

The Law Commission of the United Kingdom (UK) Parliament introduced the Property (Digital Assets, etc.) Bill on Sept. 11 to recognize digital holdings legally. The proposed legislation deems crypto, non-fungible tokens (NFTs), and carbon credits personal property under British law. This marks the first time in British history that assets will be definitively included in the scope of English and Welsh property law.

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💰 Bitcoin Layer 2 Protocol Stacks Achieves New High in Smart Contract Deployments

Stacks, the Bitcoin Layer-2 protocol, has achieved a new high in smart contract deployments, with a 30% month-over-month increase. This growth reflects the ongoing efforts of developers to enhance the Bitcoin ecosystem, making Bitcoin a more productive network. The increase in deployments highlights the potential for decentralized finance (defi) on Bitcoin and the innovative projects being built on the layer-2 solution.

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🪙 Ethereum Foundation to release financial report, holds roughly $650 million in main wallet: Justin Drake

The Ethereum Foundation will release a financial report “relatively soon,” as the foundation’s spending has recently been a burning issue among the community. In an ask-me-anything (AMA) on the r/ethereum subreddit, Justin Drake, an Ethereum researcher, wrote under the nickname “bobthesponge1” that the foundation is preparing to publish a financial report similar to one released in April 2022.

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🪙 Ether has underperformed bitcoin by 44% since switch to proof-of-stake: CryptoQuant

Ether has underperformed bitcoin by as much as 44% since the Ethereum blockchain's 'merge' to proof-of-stake almost two years ago, according to analysts. "Next week will mark two years since Ethereum switched to a proof-of-stake network, an upgrade known as The Merge. Since then, Ethereum has underperformed bitcoin by 44%," CryptoQuant analysts said.

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