From the opinion that Bitcoin can stimulate a new bull market to the trial of Sam Bankman-Fried (SBF) has begun. Here are some outstanding news in the crypto market.
Bitcoin News
A top trader who correctly predicted a cryptocurrency bull run earlier this year is believing that Bitcoin ( #BTC ) could spark a new bull market that could last for about two years .
Anonymous analyst DonAlt told his 507,000 followers on platform X that a proper Bitcoin bull market would begin if BTC rose sharply against other altcoins.
Until that happens, DonAlt says, Bitcoin will likely continue to trend sideways.
For now, the analyst says he will remain bullish on Bitcoin as long as it remains above key support.
“Just holding on to $27,000, this actually looks pretty good. Continued bullish pressure should lead to a decline in the ALT/BTC ratio over the next few days to weeks. If this doesn't happen, I will join the bears.”
Source: DonAlt
Ripple News
Ripple announced that the company has made the Fintech 100 list for 2023. The company was recognized for its groundbreaking initiatives in modernizing cross-border payments.
Published by CBInsights, the annual list showcases leading companies that combine technology with financial solutions to transform and shape the future of the fintech industry.
This year's Fintech 100 features many companies that are innovating in different areas of the fintech space. In the cross-border payments category, Nium and TerraPay have also been recognized alongside Ripple.
The list also includes insurance-focused companies, notably AKUR8, ACCELERANT and Bolttech.
Shiba Inu News
According to recent data shared by Shibburn, in the past 24 hours, #SHIB army has succeeded in processing a total of 38,942,436 SHIBs.
These burns pushed the Shiba Inu burn rate up 107.49% compared to Tuesday, when only about 20,000,000 SHIB were sent to the burn wallet.
This time, no burn transaction was too large in scale, with the two largest transactions not exceeding 7,000,000 SHIB.
Overall, according to Shibburn's recent tweet, in September, SHIB army burned 2,323,834,085 SHIB in 426 transactions made with unusable wallets.
FTX News
The trial of Sam Bankman-Fried (SBF) begins in a tense atmosphere, with today devoted to jury selection.
Judge Kaplan only briefly explained that SBF was prosecuted for fraud related to #FTX and Alameda, without explaining in detail or mentioning the scale of FTX, and suggested that the Jurors should not inform themselves about FTX.
This requirement is to ensure fairness, the jury should preferably be people who know nothing about crypto so there is no bias.
Jury selection is expected to wrap up tomorrow morning, followed by opening statements from both the prosecution and defense.
Yield Protocol news
After careful consideration, Yield Protocol said it will officially stop all lending activities from December 29, 2023.
As of the date of the announcement (October 2), borrowing and lending will be limited until December. No additional fees will accrue on MS loans (March – September). From now until the closure date, Yield Protocol will still support customers through Discord and continue to update X accounts.
Explaining the decision to discontinue operations, although Yield Protocol believes in the bright future of DeFi and the fixed interest rate market, the project feels this decision is necessary because there is no sustainable demand for borrowing Fixed interest rates on Yield Protocol.
Additionally, the tense regulatory environment in the United States, combined with increasing regulatory requirements in Europe and the United Kingdom, has made it difficult for the lending protocol to continue operating.
Celsius News
The trial of defendant Alex Mashinsky is scheduled to take place on September 17, 2024. The former CEO of Celsius Network was arrested on July 13 and released on bail of $40 million.
Mashinsky's criminal case is being conducted by the United States Attorney's Office for the Southern District of New York. He currently faces charges of deceiving customers and manipulating crypto prices. Additionally, Roni Cohen-Pavon, Celsius' Chief Revenue Officer, turned herself in last month.
Under Mashinsky's leadership, Celsius Network became one of three prominent crypto companies to collapse in the liquidity crisis mid-last year, alongside Three Arrows Capital and investment app Voyager.
The company paused withdrawals in June 2022 and entered bankruptcy proceedings a month later, completely separate from the criminal case against Mashinsky.
Dogecoin News
Whale Alert recently reported a move of 300 million Dogecoin (DOGE), or approximately $18.25 million, towards Robinhood.
The transaction took place on the morning of October 4, the sender paid a relatively modest fee of just $0.21.
According to the report, Robinhood announced improvements to its crypto wallet services in August. It expanded support for Bitcoin and DOGE at the end of August.
This development is in response to growing demand from a user base looking for diversification in the assets available on the platform.
Nomic News
Nomic, a layer-1 bridge solution for Bitcoin, will enable Bitcoin liquidity on Cosmos through a Bitcoin-backed token.
The team will deploy the upgrade, nBTC Interchain Upgrade, on the Nomic layer-1 blockchain, at the end of October to begin launching the new token.
nBTC will function as the native token in the Cosmos ecosystem and will be transferable via the Interchain Blockchain Communication (IBC) protocol.
Once upgraded, the Nomic app, or Cosmos apps that integrate Nomic, such as Osmosis, will facilitate the issuance and exchange of nBTC for Bitcoin.
The blockchain upgrade is scheduled for October 27 and activation is scheduled for October 30.
Jump Trading News
Jump Trading lost more than 200 million USD after the collapse of FTX.
According to information from the book ‘Going Infinite’ by Michael Lewis, Jump Trading lost $206 million in the collapse of FTX.
This book covers private documents unearthed by FTX's former COO, Constance Wang. Jump Trading is one of the units that lost the most money, not counting units owned by FTX or Alameda.
Nearly half of FTX's $8.7 billion in debt is concentrated in the 50 largest accounts, including Jump Trading.
https://tapchibitcoin.io/tin-van-crypto-04-10-bitcoin-co-the-kich-thich-thi-truong-tang-gia-moi-cung-tin-tuc-ripple-shiba-inu-ftx-yeild-protocol-celsius-dogecoin-nomic-jump-trading.html