Hey, crypto enthusiasts! This is Melega Finance, the world’s leading decentralized ecosystem. Welcome to the latest edition of our weekly cryptocurrency news roundup, where we will discuss the most interesting news from the crypto market from October 8 to October 14, 2023.

The dominance of Bitcoin surged to over 50% this week before falling slightly to 49.8% at the time of writing. BTC price action fluctuated but was able to recover without making new lower lows, while altcoins suffered as traders looked for potential short opportunities. The majority of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), BNB, and XRP, have all fallen by at least 2% over the last seven days.

So, apparently, Sam Bankman-Fried (SBF) wanted to be the president of the United States. That's according to Caroline Ellison, the former CEO of Alameda Research and SBF's ex-girlfriend. But that's not all that happened in crypto this week. Uniswap launched its exchange on Android, Binance released copy trading for futures traders, and USDC went live on the Polygon network. There was also some negative news; we'll get to that in a minute. So, what did you miss this week in crypto? Let's take a look!

TOP CRYPTO NEWS RECAP (OCTOBER 8–OCTOBER 14, 2023)

●      Lawsuit Against SBF Continues With More Interesting Pieces of Evidence

●      Uniswap Launches Mobile Ethereum Wallet for Android Users

●      Binance Releases Copy Trading for Futures Offering

●      United Kingdom (UK) Regulator Releases List of Non-authorized Crypto Exchanges

●      Circle’s USDC Stablecoin Goes Live on Polygon

●      Brazilian Congress targets Binance CEO CZ for potential indictment

Lawsuit Against SBF Continues With More Interesting Pieces of Evidence

Sam Bankman-Fried, the former executive of FTX, is facing a difficult situation as his criminal trial continues. He is facing seven federal fraud and money laundering charges, which come after the collapse of his crypto exchange FTX and hedge fund Alameda Research.

Bankman-Fried's inner circle at FTX has made plea deals, while other legal proceedings surround FTX's bankruptcy. This week, the key witness was Caroline Ellison, the former CEO of Alameda Research and ex-girlfriend of SBF.

Ellison testified that Alameda was allowed to take unlimited loans from FTX's customer funds, that Bankman-Fried used funds for political donations, that he failed to secure investment from Saudi Arabia, that he has ambitions of becoming the president of the United States, and that he bribed Chinese officials.

#Uniswap Launches Mobile Ethereum Wallet for Android Users

Uniswap, the world's largest decentralized crypto exchange, just launched a closed beta of its Android app. This follows their iOS release earlier this year. 

The Android app streamlines coin selection across different networks, adds security features, and increases transparency regarding transfer fees. While the initial beta attracted 35,000 users within hours, the Uniswap Labs team plans to open-source the code after a security audit. 

This move marks a significant step in bringing DeFi to a broader audience, emphasizing accessibility and security.

#Binance Releases Copy Trading for Futures Offering

Binance is stepping up its game with the introduction of copy trading for futures in select markets. This new feature allows users to mimic the trading strategies of experienced traders, promoting a more interactive trading environment. 

You can choose between a "fixed amount" for specific allocations and a "fixed ratio" based on your account balance. Lead traders can earn a 10% profit share and a trading commission rebate when copy traders replicate their moves, encouraging knowledge sharing. 

United Kingdom (UK) Regulator Releases List of Non-authorized Crypto Exchanges

The UK's financial regulator, the FCA, took action by adding 143 crypto exchanges to its warning list, including Huobi-owned HTX and KuCoin. The warning list tells customers to steer clear of these firms.

In the UK, crypto businesses must register with the FCA. However, FCA's Jayson Probin warned illegal promotion could lead to criminal charges. The FCA has approved only 38 out of 291 registration applications since 2020. Currently, only 42 crypto providers are registered, including Bitstamp, Revolut, and Gemini.

Circle’s #USDC Stablecoin Goes Live on #Polygon

Circle, the stablecoin issuer, has launched USDC natively on the Ethereum layer 2 scaling protocol Polygon. This move allows businesses and developers to create decentralized applications (DApps) with USDC on Polygon, enabling near-instant, low-fee transactions for payments, remittances, trading, borrowing, and lending. 

Circle plans to enhance liquidity by introducing native USDC, replacing bridged USDC, and fully supporting it. As usual, this offers fast and efficient transactions, always redeemable at a 1:1 ratio for US dollars. 

Meanwhile, the transition is set to occur with a 30-day grace period starting October 10th, with full support for bridged USDC.e ending on November 10th. Circle's APIs will distinguish between native USDC and bridged USDC using distinct API Chain Codes, while the API Currency Codes remain consistent. The move to native USDC is part of Circle's efforts to enhance liquidity and interoperability across multiple blockchain networks.


NEWS FROM THE #MELEGASWAP ECOSYSTEM

CAVEA chooses MelegaSwap As Preferred DEX for Its FairLaunch on GemPad

Cavea Project believes in the preservation of artistic content and aims at collecting highly valuable artistic content in the form of a unique high-quality digital representation (“digital asset”) expressed as a Non-fungible Token (“NFT”). Cavea Project investors participate in the project by holding CAVEA tokens. Learn more here.

TechGecko (GECK) Farm & Pool on MelegaSwap

TechGecko introduces a groundbreaking feature within the DeFi space. With the GECK token, users automatically receive $GECK tokens as a refund for incurred BEP-20 gas fees on every transaction. This innovation aims to redefine DeFi transactions by offsetting costs and rewarding user engagement.

WhiteFox (WFX) Farm & Pool on MelegaSwap

The White Fox Token ($WFX) project was born out of a vision to create a community-driven cryptocurrency that offers a range of innovative features and utilities. The commitment to transparency, security, and community engagement drives every aspect of this project.

Crypto Monster Clash (CMC) Farm & Pool on MelegaSwap

Crypto Monster Clash presents a unique cryptocurrency and gameplay, where every move and every decision made can be the key to your victory. You will fight with other players, develop your monster, discover new skills and items, and earn cryptocurrency.

New Gold (NGD) Farm & Pool on MelegaSwap

New Gold is a deflationary token, with a strong governance system, staking and farm pool to yield investors' tokens, DEX integration, aggressive marketing, and much more!

•••

Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.