Recently, former Twitter executive chairman and chief technology officer Elon Musk was criticized for suspending XRP-related accounts. Crypto Eri, a well-known figure in the cryptocurrency community, reached out to Musk on Twitter, asking for clarification on whether the account suspension was a mistake.

Suspended Account Digital Asset Investor.XRP was recognized for his outspoken advocacy for XRP. While some defended Musk, suggesting the suspension was a precautionary measure to ward off potential scammers, no official response from Twitter fueled speculation. Crypto Eri firmly believes that the account’s suspension was unjust.

The controversy, which has drawn the attention of prominent industry advocates such as pro-XRP attorney John Deaton, now surrounds whether the suspension was an isolated incident or marked a resurgence of censorship within the Twitter community. At the same time, the U.S. Securities and Exchange Commission's ongoing investigation into Musk has also attracted attention, focusing on whether Musk violated federal securities regulations related to his stock acquisition and subsequent statements and documents related to the Twitter acquisition.

Blockchain Ecosystem Avalanche (AVAX) has recently attracted the attention of traders and investors due to its innovative developments. The emergence of the StarsArena platform has injected new activity into the AVAX address, providing users with the opportunity to purchase shares and be rewarded with valuable content. This incentive model promotes community participation and content creation, creating a vibrant ecosystem.

The increase in AVAX address activity demonstrates growing interest and participation in the Avalanche network, and its ability to attract users and developers demonstrates its potential to compete with established blockchain platforms. Positive developments at Avalanche could have spillover effects on other major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Cardano (ADA).

The development of Avalanche is consistent with the broader trend of blockchain platforms pursuing scalability, interoperability and user-friendly experiences. Avalanche's ability to create a dynamic ecosystem with new capabilities reflects its commitment to staying at the forefront of blockchain technology.

Overall, Avalanche's positive outlook is driven by increased activity on the StarsArena platform and AVAX addresses. These innovations not only benefit AVAX holders but also have the potential to inspire positive changes in other leading cryptocurrencies. Projects like Avalanche are contributing to the growth and maturation of the crypto industry.

Ethereum's native token Ethereum (ETH) is up about 35% so far in 2023, but repeated attempts to break through the psychological resistance level of $2,000 have been met with strong bearish rejections. Here are three possible reasons why Ethereum price has failed to decisively regain $2,000.

First, Ethereum price depicts a bear cycle fractal. Ethereum’s inability to break above $2,000 in 2023 is similar to the bearish rejection near $425 in 2018-2019. In both cases, Ethereum appears to be in a recovery phase while closing above the 0.236 Fibonacci line on the Fibonacci retracement chart.

Second, a stronger U.S. dollar has dampened demand for Ethereum, reducing its ability to decisively close above $2,000. The prevailing negative correlation between the top cryptocurrencies and the U.S. dollar is to blame. Meanwhile, Ethereum’s performance in 2023 has largely lagged behind Bitcoin’s due to continued spot Bitcoin ETF hype.

Finally, Ethereum network activity dropped. The total value locked (TVL) of the Ethereum ecosystem has dropped from 18.41 million ETH to 12.79 million ETH in 2023. This highlights the reduced availability of funds, leading to lower yields for investors. The decline in TVL coincides with a drop in the Ethereum network’s gas fees, which hit a yearly low on October 5.

To sum up, Ethereum price faced multiple pressures and failed to break through the psychological resistance level of $2,000. Investors need to pay close attention to market dynamics and make prudent decisions.

Blockchain security company CertiK said September has become the worst month for cryptocurrency exploits so far in 2023, with losses exceeding $329 million. The largest contributor came from the Mixin Network attack on September 23, which caused losses of US$200 million. On the other hand, DeFi lending protocol Yield announced that it will permanently shut down in December due to lack of business demand and global regulatory pressure.

Polygon co-founder Jaynti Kanani announced her resignation from day-to-day work at the company, saying she would monitor from the sidelines. Meanwhile, Nature Science magazine said decentralized autonomous organizations (DAOs) could help scientists find funding and community. In addition, crypto payment service provider Wirex launched W-Pay, a non-custodial crypto debit card service based on zero-knowledge proofs, aiming to improve scalability and security.

The DeFi market has had a mixed week, with most of the top 100 coins trading in the same price range as last week. The total value locked in DeFi protocols fell to $45.07 billion.

Hong Kong Secretary for Financial Services and the Treasury Thomas Hui said that Hong Kong has not yet adopted regulations on stablecoins such as Tether (USDT) or US Dollar Coin (USDC), which means that retail investors are not allowed to trade these assets. The official commented on Hong Kong’s cryptocurrency regulation during an online investment committee meeting on October 6, local news agency Ming Pao reported.

Hui said stablecoins such as USDT have been widely used by cryptocurrency service providers as their primary trading assets because their value is designed to be stable by being pegged to assets such as the U.S. dollar or gold. However, the secretary pointed out that some stablecoins have faced severe volatility issues and even crashes in the past, adding that the reserve management of stablecoins has greatly affected the price stability of investors’ rights to redeem fiat currency.

Given these risks, retail trading of stablecoins will not be allowed until Hong Kong officially regulates stablecoins, Hui reportedly claimed. Hui also mentioned that the shut down local cryptocurrency exchange JPEX was involved in a serious fraud case, reflecting the need for higher regulation of the cryptocurrency market.

Blockchain News Flash: Bitcoin (BTC) quickly retested $27,000 at the open on Wall Street on October 6 as US jobs data rattled the market. U.S. nonfarm payrolls (NFP) jumped to nearly twice the September forecast, at 336,000 versus 170,000. The data showed the labor market's continued resilience to the Fed's anti-inflationary measures in the form of interest rate hikes, but was seen as negative for risk assets including cryptocurrencies.

Analyst CrypNuevo said: "The good news is bad news because the Fed wants the labor market to lose power." He predicted that the Fed is increasingly likely to raise interest rates again at the November Federal Open Market Committee (FOMC) meeting. Market forecasts for interest rate adjustments have also been affected.

Looking at Bitcoin’s specific reaction, Trader Skew showed spot and derivatives traders exiting on NFP. Trader Daan Crypto Trades updated his analysis from earlier in the day, highlighting the decline in Bitcoin’s open interest (OI). He concluded: “That’s another $600 million in open interest losses since yesterday’s high. Once again reaching more average and ‘healthy’ levels.”

The blockchain community platform Galxe suffered a security breach on October 6, and its website was offline for about an hour. Galxe said on Twitter that its Domain Name System (DNS) records were affected and reminded users not to access the domain until the issue is resolved. Although the site has been restored, some users have reported being blocked by Google.

According to the Web3 network security service, Galxe's DNS records were modified, resulting in user wallets being stolen by phishing websites. Crypto sleuth ZachXBT said Galxe’s funds were stolen and the wallet associated with the vulnerability continued to raise funds after the site came back online, totaling approximately $160,000. ZachXBT speculates that the Galxe exploiter may be related to the party that attacked the Balancer protocol on September 19.

A report from the security platform Immunefi shows that compared with the same period last year, Web3 project losses increased significantly in the third quarter of this year, with attacks rising to 76% year-on-year, and losses approaching $686 million.

Recently, the price of Solana (SOL) increased by 20% between September 28 and October 6. Its rise was driven by the growth in the use of decentralized applications (Dapps) and the increase in the trading volume of non-fungible tokens (NFT). support. Solana’s price is now trying to establish support at $23 and consolidate its position as the fifth-largest cryptocurrency by market capitalization (excluding stablecoins), surpassing Cardano’s $9.22 billion.

Solana’s DApp and NFT market activity surged, with active addresses exceeding Ethereum’s active addresses during the same period, with a cap of 55,230. Solana is gaining traction in the NFT market for its cost-effective and scalable solution, allowing for more feasible high-volume production as they require lower minting fees, allowing creators to reach a wider audience.

Additionally, a potential driver of Solana’s recent 20% price increase is the network’s upgrade to version 1.16 on September 28, which introduced a “gate system” to ensure the gradual activation of new features on the network. This process helps maintain network stability and prevent problems caused by sudden changes. The update also brings greater efficiency, privacy and security to the Solana blockchain, marking an important milestone in its development.

However, while Solana continues to make progress on privacy, scaling, and security, external factors come into play outside of the FTX bankruptcy drama, making resistance at $23 harder to break than expected. Ultimately, investors remain primarily focused on the Ethereum ecosystem as it remains a leader in developing and integrating decentralized applications.

Matthew Huang, co-founder and managing partner of crypto investment firm Paradigm, said FTX founder Sam Bankman-Fried was “very resistant” to investors joining FTX’s board. Huang testified in New York federal court that Bankman-Fried did not think there would be much benefit from having investors on FTX's board.

Despite concerns over FTX’s lack of formal structure and its potential entanglement with sister hedge fund Alameda Research, Huang said investors were attracted by FTX’s rapid expansion of market share in the crypto industry. However, Huang noted that he and other investors in Paradigm were concerned that Bankman-Fried might spend more time on Alameda instead of FTX, a distraction that would come at the expense of Paradigm’s investment.

Additionally, Huang noted that there are concerns that Alameda may have received preferential treatment from FTX. If those concerns prove to be true, Huang said he worries it could cause reputational damage to the company.

Taiwanese lawmakers plan to introduce the first draft of a special law targeting cryptocurrencies by the end of November 2023. Legislative Yuan official Jiang Yongchang said the bill was “necessary” to regulate crypto-related businesses. He also said that crypto assets are different from traditional financial products and need to be managed through a special law. 📜

On October 6, Jiang Yongchang held a public hearing in Taiwan’s parliament to discuss the draft proposal with digital asset service providers, academics, and industry insiders. 👨‍💼

The development comes on the heels of Taiwan’s Financial Supervisory Commission (FSC) issuing guidelines aimed at improving cryptocurrency investor protection. The guidance includes rules covering the industry, such as separating assets in exchange vaults from those of customers and reviewing mechanisms for listing and delisting digital assets. 🛡️

Notably, the rule stipulates that foreign virtual asset service providers are not allowed to provide services in Taiwan without the necessary approvals from local regulatory authorities. 🚫

Meanwhile, Taiwan’s major cryptocurrency exchanges have formed an association to promote industry interests. 💼

Recently, Bitcoin miners Marathon Digital, Riot Platforms and CleanSpark recorded strong Bitcoin production growth in September, leading to a slight increase in stock prices on October 4. Among them, Marathon Digital produced a total of 1,242 BTC in September, an increase of 16% from August and an increase of 245% from September 2022. Riot Platforms’ BTC production increased by 9% month-on-month, with 362 BTC produced in September. While CleanSpark produced 643 BTC in the fiscal year from October 1, 2022 to September 30, 2023, and 6,903 BTC in the fiscal year from October 1, 2022 to September 30, 2023, the company Best performance to date.

While the price of Bitcoin has been muted over the past month, these companies have strengthened their balance sheets. The performance growth of these miners is mainly due to factors such as improving efficiency, reducing energy costs and operating their facilities at maximum capacity.

Blockchain News Flash: Crypto wallet addresses linked to the FTX exploit have moved approximately $36.8 million worth of ether (ETH) in the past 24 hours. Previously, former FTX CEO Sam Bankman-Fried (SBF) was on trial in court. Hours after the FTX exchange filed for Chapter 11 bankruptcy on November 11, 2022, the United States was drained of $600 million. 😱

After nearly 10 months of silence, FTX exploiters began pumping out stolen funds. The first was the transfer of $17.1 million worth 10,250 ETH through four addresses between September 30 and October 1. 😨

Since September 30, a total of 67,500 ETH has been transferred from five of the 15 wallet addresses associated with the FTX exploiter. Of this amount, 64,948 ETH ($108 million) was transferred through the THORchain router and 52 ETH (valued at $84,000) was transferred to the Railgun contract. The remaining 2,500 ETH ($4.19 million) was exchanged for Bitcoin (tBTC). 💰

The SBF trial related to the FTX collapse began on October 3. The entrepreneur has pleaded not guilty to all seven charges of fraud and money laundering. The trial will continue, let's wait and see. 👀

In a blog post, the Federal Reserve compared buying eggs to Bitcoin (BTC) and the U.S. dollar, with the results showing that Bitcoin is better at protecting against inflation than the U.S. dollar. The author of the article measured the price of a dozen eggs in BTC (measured in satoshis) and USD since January 2021 and found that prices fluctuated widely, but the number of satoshis required to purchase the same amount of eggs was less than the equivalent USD More.

As of August 2023, buying demand from BTC holders has decreased by 70%, while USD has decreased by 58%. Compared to the beginning of 2021, eggs cost more in both currencies, at 39% and 73% respectively, compared with 73% for USD and BTC. However, arbitrary time frame comparisons still don't help much here.

In addition, data from the Federal Reserve shows that a recession in 2024 is increasingly likely, with the probability of a recession approaching 60% in September, while bond yields have soared in what has been called a "bear steep".

Hello friends in the blockchain industry! A recent piece of news that may interest you: Raoul Pal, a macro investor and CEO of Real Vision, predicts that the next crypto bull run may begin in the second quarter of 2024, when the Bitcoin (BTC) halving will occur. 📈

Pal believes that despite the hype surrounding the halving, macro factors will play a leading role in triggering the next uptrend. He said that the Bitcoin halving cycle coincides with the macro cycle, which means that every halving so far has occurred in a similar macroeconomic environment: monetary expansion and low interest rates. 💹

Key catalysts supporting cryptocurrencies next year include interest rate cuts from central banks and potential fiscal stimulus ahead of the U.S. presidential election. 🌐

As for price targets, Pal wants to avoid making predictions because "you get beat by people" because they don't get them right. However, judging from past performance, Bitcoin may double or triple its latest all-time high, Pal believes. 🎯

To learn more about how to prepare for the next crypto bull run, check out the full interview with Pal, and don’t forget to subscribe to Cointelegraph’s YouTube channel! 📺

Troubled cryptocurrency exchange JPEX recently launched a plan to transform its platform into a decentralized autonomous organization (DAO) and convert user assets into dividend stocks, incentivizing users to lock up their funds for two years. JPEX said the plan completed voting on September 28, with 68% of users voting in favor. Users can convert currently frozen assets into DAO dividends at a 1:1 ratio, with a buyback option at 30% of the conversion price after one year and a 100% buyback option after two years.

However, an anonymous JPEX user said her assets were converted without consent or prior knowledge. It is reported that the Hong Kong police and the Hong Kong Securities and Futures Commission have established a joint working group to combat illegal cryptocurrency trading activities. Meanwhile, the JPEX scandal continues.

Recently, the Stars Arena Web3 social media application on Avalanche lost some funds due to a malicious attack. Stars Arena user Lilitch.eth discovered the vulnerability on October 5 and announced it on X, saying the damage exceeded $1 million. The Stars Arena team confirmed the attack, calling it a "war" against the app, but said the damage was only about $2,000 and that the vulnerability had been patched.

Stars Arena is similar to Friend.tech in that it allows users to purchase tokenized assets issued by content creators. Avalanche has seen a surge in activity since the launch of Stars Arena, with the network’s daily transaction volume increasing by more than 186% on October 3rd and 4th. However, Lilitch.eth blamed the developers of Stars Arena for being unable to produce a working copy of Friend.tech, resulting in a loss of $1.1 million. Some users accused Lilitch.eth of spreading panic.

The Stars Arena team posted on X that "the bug has been fixed" and explained the incident in a Twitter space event. Lilitch.eth, for its part, denied that the attacker spent $1 in gas for $5, and said it now supports Stars Arena. Meanwhile, Friend.tech users are facing a wave of SIM swapping attacks, and the team has implemented the ability to remove login methods to resolve the issue.

Tether (USDT) has seen a significant increase in its presence on exchanges and holdings by top addresses recently, developments that hint at a potential shift in cryptocurrency market dynamics. 📈

Tether’s supply on exchanges increased from 17.6% to 24.7%, indicating that more traders and investors are looking to utilize USDT as a means of quickly trading in and out of other cryptocurrencies. Meanwhile, Tether’s presence on exchanges surged to its highest level in six months, suggesting growing demand for the stablecoin. 💹

The holdings of the top 10 USDT addresses increased from $7.30 billion to $9.42 billion in just three months, highlighting the continued interest in USDT as a store of value. Large holders often play a crucial role in cryptocurrency markets, and their accumulation can be indicative of broader market sentiment. 🔝

These trends reflect the changing landscape of the cryptocurrency market, where stability and liquidity are highly valued. As the crypto space continues to mature, stablecoins such as USDT are expected to play an increasingly important role in promoting smooth and secure trading activities. 🌐

Please note that this is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service. 🔍

Crypto businessman and fugitive Su Zhu’s $36 million luxury estate in Singapore has been converted into an ecological farm. 😮

According to local media reports, the mansion on Yarwood Avenue in Singapore has been renamed "Yarwood Homes" and is operated by Fengcheng City, a company co-founded by Su Zhu's wife Evelyn Tao. 🏡

The company uses ecological design and agroecology to transform the mansion's garden into a mini-farm, producing vegetables, herbs, fruit, fish and poultry. 🌱🐟🐓

In addition, the bungalow's front lawn has been transformed into 36 vegetable gardens, growing okra, spinach, beans, kale, sesame seeds and radishes. The swimming pool becomes a natural pond with aquatic plants, streams and various fish and shrimps. 🌾🐠

It is worth mentioning that Su Zhu and his spouse purchased the property for US$36 million in March 2022, shortly before the collapse of his Singapore-based hedge fund Three Arrows Capital (3AC). 💰

However, in July 2022, 3AC filed for bankruptcy and faced creditor claims of up to $3.5 billion after a series of leveraged bets on the Terra Luna ecosystem failed. 😢

Su Zhu was arrested at Singapore Changyi International Airport on September 29 after he attempted to leave the country following a court-ordered detention. 🚓

Currently, Su Zhu is sentenced to four months in prison for violations, and the whereabouts of his co-founder Kyle Davies are unknown. 🔍

Recently, a huge sum of 37 million MATIC tokens, the native cryptocurrency of the Polygon network, was transferred from a whale proof-of-stake (PoS) address to a three-year-old wallet. The deal comes amid a 4% price jump for MATIC and a plunge in the broader cryptocurrency market. This is the largest single transaction on the Polygon network since July.

The large transaction sparked speculation in the cryptocurrency community. Possible scenarios include strategic investments, profit taking, staking or governance participation, and whale activity. While this transaction raises questions, the situation must be closely monitored to better understand the sender’s intentions and its potential impact on the MATIC market.

The cryptocurrency market is known for its volatility, and large trades like this can trigger a range of reactions from traders and investors. As the cryptocurrency space continues to evolve, transactions of this size will remain subject to speculation, and market participants will be closely watching further developments and their impact on the Polygon network and MATIC’s value proposition.

The U.S. District Court for the Southern District of New York recently advanced the sentencing process for the key individual behind the cryptocurrency Ponzi scheme AirBit Club. Among them, lawyer Scott Hughes was sentenced to 18 months in prison for laundering approximately $18 million in AirBit Club fraudulent proceeds; Cecilia Milan, a senior promoter of AirBit Club, was sentenced to five years in prison, and another Senior promoter Karina Serres was sentenced to one year and one day in prison.

Launched in late 2015, AirBit Club is promoted as a “multi-level marketing club” for the cryptocurrency industry. However, instead of funding the promoted crypto business, AirBit put $100 million of investor funds into the pockets of its founders and promoters. Although some users complained about withdrawal delays and hidden fees in early 2016, AirBit Club planned to maintain its fraudulent activity into 2020.

U.S. Attorney Damian Williams said in announcing the verdict that Hughes, Milan and Serres each played a key role in perpetuating the AirBit Club pyramid scheme. Williams stressed: “Today’s sentencing sends a message that anyone who promotes cryptocurrency investment schemes – not just those at the top of the pyramid – will face serious consequences for such crimes.”