NY sues crypto firms, FTX’s Nishad faces 75 years in jail, and Grayscale’s new BTC filing: Hodler’s Digest, Oct. 15-21

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Grayscale files for new area Bitcoin ETF on NYSE Arca

Significant cryptocurrency investment firm Grayscale Investments has actually submitted a brand-new application with the U.S. Securities and Exchange Commission for a new area Bitcoin exchange-traded fund (ETF). The news comes weeks after Grayscale won an SEC claim for its spot Bitcoin ETF review, with a court of appeals ordering the SEC to describe why it turned down Grayscales application in June 2023.

New York Attorney General sues Gemini, Genesis, DGC for supposedly defrauding investors

New Yorks lawyer general has submitted a claim against cryptocurrency firms Gemini, Genesis and Digital Currency Group (DCG) for supposedly defrauding more than 23,000 investors through the Gemini Earn investment program. In addition, the court case looks to ban Gemini, Genesis and DCG from running in the financial investment industry in New York.

Previous FTX engineering director confronts 75 years in jail following guilty plea

Nishad Singh, the previous engineering director at now-defunct crypto exchange FTX, confronts 75 years in jail for charges connected to defrauding users of the crypto exchange. He pleaded guilty to scams charges as part of his cooperation arrangement with the U.S. district attorneys. During his testimony today, Singh stated that when liquidity concerns at FTX began in November 2022, he felt “suicidal for some days” while handling declared disparities in between the exchanges public declarations and its activities behind the scenes. Singh also claimed that Bankman-Fried had the routine of picking purchases through Alameda Research by himself.

Binance shutting down European Visa debit card in December

Binance Visa debit card services will close down in the European Economic Area in December, marking the latest obstacle for Binance. The termination of the card services was revealed a day after the exchange brought back euro deposits and withdrawals, which had been unavailable for a month after payments processor Paysafe dropped the exchange. Binance is still not onboarding brand-new users in the United Kingdom due to the loss of a third-party service provider.

Elon Musk, Mark Cuban group up to contest SEC trial strategies

Elon Musk, Mark Cuban and others have actually collaboratively submitted a shared amicus brief to the Supreme Court of the United States to raise issues about the U.S. Securities and Exchange Commissions (SEC) method to carrying out internal procedures without the inclusion of juries. George Jarkesy argues that the SECs internal adjudication procedure, which does not have a jury and is supervised by an administrative law judge designated by the commission, contradicts his Seventh Amendment rights.

Winners and Losers

Web3 video game project apparently worked with actors to impersonate executives in $1.6 M exit scam.

With volatility still apparent, market individuals argued that a weekly candle close was required in order to develop the rallys true remaining power. For Keith Alan, co-founder of keeping track of resource Material Indicators, the 100-week moving average (MA) at $28,627 was of particular significance.

” This move is one to see, but what Im expecting today is to see if this Weekly candle closes above the 100-Week MA and if next weeks candle can stay above it without any wicks listed below,” Alan wrote in part of an X post on the day. “Some may think about that a verification of a bull breakout, however this market is known for squeezes and phony outs so Im searching for more verifications. For me BTC will also require to secure prior resistance at $30.5 k, $31.5 k and ultimately $33k to call a bull breakout validated and validated.”.

Robbie Ferguson, co-founder and president of Immutable.

” I felt betrayed, something I d put in blood, sweat and tears for 5 years ending up so awful.”.

Features.
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Anjali Young, co-founder of Collab.Land.

On Oct. 20, information from Cointelegraph Markets Pro and TradingView recorded new two-month Bitcoin highs of $30,233 on Bitstamp. BTC price showed continued strength throughout the Asia trading session on the exact same day, with a small comedown taking the spot price back listed below $29,500.

” We are all part of a larger video game, and Bitcoin is one of the greatest levers because.”.

” The games moneyed 2 years ago are going live over the next 12 months. We will see hits.”.

” Any development– specifically this one with financial impact, cultural value and status– will draw in questioning throughout its downs.”.

” After substantial DAO forum discussion followed by community vote, the sunsetting of the Lido on Solana procedure was authorized by Lido token holders and the procedure will start soon.”.

BTC rate strikes 2-month high in the middle of bet Bitcoin will break $32K quickly.

TrueCoins third-party vendor breach possibly leaks TUSD user information.

” Using publicly readily available info to find out is not stealing. Nor is it an invasion of privacy, conversion, carelessness, unjust competition, or copyright violation.”.

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Google.

The foundation verified the attack on X, claiming that most of the funds stolen belonged to other users and that 99% of the foundations funds remain safe. The Fantom Foundation later released a main declaration stating that some of the wallets labeled “Fantom: Foundation wallet” were mislabeled by block explorers and that not all the taken funds were from the structure.

Fantom Foundation hot wallet hacked for $550K.

Nishad Singh, previous engineering director of FTX.

Edward Snowden, technologist and whistleblower.

FUD of the Week.

Read.

TrueUSD (TUSD) announced a possible leakage of certain Know Your Customer (KYC) and deal history data after among TrueCoins third-party vendors was jeopardized. The business was the operator of the TUSD stablecoin until July 13, 2023. The effect of the attack and the resultant information leak is yet to be identified, as the total number of users information was not exposed during the announcement. Information gathered from such breaches– names, e-mail addresses and contact number, among others– are typically utilized for phishing attacks. Assaulters reach out to negligent financiers by simulating various crypto services, frequently appealing high earnings simply put amounts of time.

Lido Finance.

The Majority Of Memorable Quotations.

Among the greatest 100 cryptocurrencies, the leading three altcoin gainers of the week are Bitcoin SV (BSV) at 59.00%, Stacks (STX) at 25.91% and MX TOKEN (MX) at 25.26%..

Forecast of the Week.

At the end of the week, Bitcoin (BTC) is at $29,590, Ether (ETH) at $1,607 and XRP at $0.52. The overall market cap is at $1.12 trillion, according to CoinMarketCap.

The advancement group for gaming job FinSoul performed an alleged exit fraud, siphoning away $1.6 million from investors through market adjustment, according to a current report from blockchain security platform CertiK shared with Cointelegraph. The FinSoul group allegedly hired paid actors to pretend to be its executives, then raised funds for the sole purpose of developing a gaming platform. However, rather of actually developing the platform, the FinSoul group apparently transferred $1.6 million in bridged Tether from investors to itself. Blockchain information suggests designers then laundered the funds through cryptocurrency mixer Tornado Cash.

The leading three altcoin losers of the week are Conflux (CFX) at -8.03%, Frax Share (FXS) and Sui (SUI) at -6.35%. For more information on crypto costs, ensure to check out Cointelegraphs market analysis.

Huge Questions: What did Satoshi Nakamoto think of ZK-proofs?

What was as soon as a passing interest of Bitcoin developer Satoshi Nakamoto, zero-knowledge-proof innovation is now a major part of the crypto world.

Ethereum restaking: Blockchain development or unsafe house of cards?

” Restaking” involves recycling staked Ether to earn charges and benefits. The restaked tokens can then assist protect and confirm other protocols. Lots of fear restaking might interrupt Ethereums chain itself.

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Significant cryptocurrency investment company Grayscale Investments has actually filed a new application with the U.S. Securities and Exchange Commission for a brand-new area Bitcoin exchange-traded fund (ETF). The new filing aligns with Grayscales ongoing effort to transform its Grayscale Bitcoin Trust into a spot Bitcoin ETF, according to a statement from the company. The news comes weeks after Grayscale won an SEC suit for its spot Bitcoin ETF review, with a court of appeals purchasing the SEC to discuss why it rejected Grayscales application in June 2023. Throughout his statement this week, Singh said that when liquidity problems at FTX started in November 2022, he felt “suicidal for some days” while dealing with alleged inconsistencies in between the exchanges public declarations and its activities behind the scenes.” This move is one to enjoy, but what Im enjoying for right now is to see if this Weekly candle light closes above the 100-Week MA and if next weeks candle can stay above it with no wicks below,” Alan composed in part of an X post on the day.

Bitmain presumably fires staff for speaking up against salary cuts, Hong Kong investors lose faith in crypto after JPEX scandal, Bitget gets a brand-new crypto charge card and more.

Editorial Staff.
Cointelegraph Magazine authors and press reporters contributed to this short article.

Bitmains vengeance, Hong Kongs crypto rollercoaster: Asia Express.