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At the time of bankruptcy, FTX faced a shortfall of $8 billion owing to its customers. Sam Bankman-Fried (SBF), the founder of cryptocurrency exchange FTX, claims that spend ing clients' fiat deposits was just part of "risk management " for his intertwined crypto hedge fund Alameda Research. During the former crypto executive's court testimony on October 31, prosecutor Danielle Sassoon of the Southern District of New York asked SBF if he believed that it was permissible to spend $8 billion of FTX customers' fiat money . "I thought it was folded into risk management ," he said. "As CEO of Alameda, I was concerned with their portfolio. At FTX, I was paying attention but not as much as I should have been." As told by SBF, during his tenure as both CEO of FTX and Alameda, no individuals were fired for allegedly siphoning $8 billion worth of clients' money for speculative trading. "I don't remember knowing anything about particular

Crypto trading has become more challenging than ever since the start of the crypto winter. Automated trading can address most of these challenges and help traders succeed. At the end of October, Bitcoin (BTC) managed to break above a strong resistance level and continued to rise, reaching the psychological level of $35,000, the highest in about 16 months. This is good news for active crypto traders, who have been waiting for such a long-awaited bull run since the end of 2021. However, this doesn’t mean trading will be easier from now. In general, the crypto market has been harsh during the last few years, with the “crypto winter” slashing over $1 trillion of crypto value and the market forming horizontal channels that lasted for months. Source: TradingView The main challenges of crypto trading Today, active crypto traders face many challenges, which are more pronounced compared to trading fiat currencies, stocks, or commodities. One challenge is volatility. The crypto market is still

Following the official withdrawal of the United States Securities and Exchange Commission (SEC) from its lawsuit against blockchain company Ripple, earlier documents have revealed that a former commissioner was urging against proceeding with the case. As it happens, the William A. Franke Professor of Law and Business at Stanford Law School Joseph Grundfest had pleaded with former SEC Chair Jay Clayton not to sue Ripple, citing widespread implications, according to his pre-suit letter shared by legal expert John E. Deaton in an X post on October 28. Indeed, in this letter from December 2020, Grundfest, who acted as a commission er with the SEC for four years in the 1980s – appointed by President Ronald Reagan – had warned that the lawsuit would “implicate a broad range of policy concerns with significant consequences for the nation’s financial and securities markets.” Harming XRP holders Furthermore, he had also argued that the implications of such a lawsuit were international a

Rekt Capital has analyzed the five phases of the Bitcoin halving. The phases include Pre-Halving Period, Pre-Halving Rally, Pre-Halving Retrace, Re-Accumulation, and Parabolic Uptrend. Pre-Halving Retrace instills Fear, Uncertainty, and Doubt (FUD) among investors. Rekt Capital, a renowned crypto trader and analyst, has analyzed the five phases of the Bitcoin halving. The analyst shared his thoughts on X (formerly Twitter), explaining what he expects to happen in the remaining days before the upcoming Bitcoin halving event. #BTC 5 Phases of The Bitcoin Halving 1. Pre-Halving period Approximately 5.5 months remain until the Bitcoin Halving in April 2024 Historically, any deeper retraces that occur during this period tend to generate fantastic Return On Investment for investors in the several… pic.twitter.com/oINuoCu8f5 — Rekt Capital (@rektcapital) October 28, 2023 The crypto analyst divided the period before the Bitcoin halving into five phases: Pre-Hal

FLR token gains 18.88% in a week, currently valued at $0.01077. Flare introduces public staking service, allowing FLR holders to participate in the ecosystem. Flare Network transition to proof-of-stake model. FLR, the native token of the Flare network, is making waves following the recent launch of a public staking service. FLR has seen a surge in both interest and value. Here’s a closer look at how this development has impacted the FLR token. FLR token price on the move Over the past seven days, FLR token has demonstrated impressive performance, with an 18.88% increase in its price. Currently valued at $0.01077, this token is gaining traction in the market, capturing the attention of investors and enthusiasts alike. Flare price chart   Flare’s public staking service Flare, an EVM-based layer 1 blockchain giving developers decentralized access to high-integrity data from other chains and the internet, has taken a significant step towards enhanci

Author：0xMingyue Editor：Colin Wu 1. Hong Kong’s weekly summary 1.1 Hong Kong’s Financial Secretary Aims to Transform the Region into an International Hub for Virtual Assets link On October 26th, the Financial Secretary of Hong Kong, Paul Chan Mo-po, expressed his expectation to transform Hong Kong into an international hub for virtual assets, including preparations for the regulation of virtual assets and the development of a digital Hong Kong dollar. When asked about ensuring the safety of virtual assets for citizens, Chan mentioned that he would provide updates to financial regulatory authorities, the Legislative Council’s Financial Affairs Committee, and other relevant entities on the following Monday, October 30th. He explained that new regulatory measures for virtual asset exchanges were introduced in June of this year, focusing on reviewing and supervising the supply side. Furthermore, arrangements are being made for the demand side, including investor participation and educatio

With increasing strength, SOL may hit $39, according to Michaël van de Poppe.  A correction to $26 is likely as indicated by the MFI and AO. If SOL support holds at $30.94, a jump toward $40 could be possible. Crypto analyst Michaël van de Poppe told his 669,400 X (formerly Twitter) that they should not be astonished if Solana (SOL) rises to $36 or as high as $39. According to van de Poppe, who is also the founder of MN Trading, SOL has shown solid strength in the past few weeks. He also mentioned that the token’s strength would not wane anytime soon. Previously, Coin Edition had reported on Solana’s mind-blowing performance, which made it the best-performing asset out of the top 10. Request 04 – $SOL Solid strength, solid upwards trend. Wouldn't be surprised if we reach $36-39 on this one. If the markets make a deeper correction, I'd be keen to get some $SOL at $26-28. pic.twitter.com/RjhQAT8yx4 — Michaël van de Poppe (@CryptoMichNL) October 27, 2023

Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer, and Router issued a joint statement criticizing the new token. A new bridged token from cross-chain protocol LayerZero is drawing criticism from nine protocols throughout the Ethereum ecosystem. A joint statement from Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer, and Router on October 27 called the token’s standard “a vendor-locked proprietary standard,” claiming that it limits the freedom of token issuers. Today, we're announcing a unified call for Open Bridge Standards alongside @AcrossProtocol @CelerNetwork @ChainSafeth @buildwithsygma @lifi protocol @SocketDotTech @router protocol and @hashialliance pic.twitter.com/D4CLw2lBD1 — Connext (@ConnextNetwork) October 27, 2023 The protocols claimed in their joint statement that LayerZero’s new token is “a proprietary representation of wstETH to Avalanche, BNB Chain, and Scroll without support from the Lido DAO [decentralized autonomous organization],”

NuggetRush (NUGX) is a Play-to-Earn (P2E) game combining cryptocurrency and gold mining. Axie Infinity’s (AXS) recent sharp decline, with over 97% loss from its all-time high, has caused all investors to be in the red. SophiaVerse (SOPH) and Decentraland (MANA) partnered, with Sophia the Robot launching the Decentraland AI Lab within the metaverse. NuggetRush (NUGX) has emerged as an innovative Play-to-Earn (P2E) blockchain game that intertwines cryptocurrency, gold mining, and support for real miners in impoverished regions. On the other hand, Axie Infinity (AXS) appears ready to rise after losing over 97% of its value.  Yet, Decentraland (MANA) boasted development on its network, ranking top on the list of NFT projects by their development activity. Can NuggetRush keep growing to catch up with Axie Infinity and Decentraland? Let’s see here. NuggetRush integrating crypto and gold mining NuggetRush (NUGX) is a P2E game that integrates cryptocurrency, gold

In the realm of crafting written content, three pivotal elements come to the forefront: “perplexity,” “burstiness,” and “predictability.” “Perplexity” gauges the intricacy inherent in text, while “burstiness” concerns the variance amid sentences. And, last but not least, “predictability” alludes to the likelihood of someone accurately predicting the next sentence. When we delve into human composition, we encounter an engaging mix of sentence structures, ranging from the elaborate and extensive to the concise and succinct. Conversely, AI-generated text often falls into a pattern of uniformity. Consequently, as we embark on the task of reconstructing the forthcoming content, the goal is to infuse it with a substantial degree of perplexity and burstiness, all while minimizing predictability. Furthermore, the constraint is that this textual transformation must strictly adhere to the English language. Now, allow me to reconfigure the provided text: In a surprising turn of events, Masterca

Altcoin market shows signs of strength as leading altcoins engineer significant gains. Analyst predicts potential new yearly highs for altcoins amid longstanding resistance. Altcoin cap may rise by 19%, reaching $455.86 billion, with potential for pullbacks. With leading alternative cryptocurrencies (altcoins) such as XRP,  Cardano (ADA), and Solana (SOL) engineering significant gains in recent weeks, experts in the community seem increasingly optimistic about the potential of the overall altcoin market. Pentoshi, a prominent Bitcoin analyst account on X with over 750K followers, has weighed in on the potential for the overall altcoin market to break a year’s peak amid an overstayed resistance. Pentoshi first highlighted that the current valuation of all altcoins, excluding Ethereum, has dropped below the 2017/2018 all-time high (ATH). Given the altcoin cap of around $383 billion, the analyst expressed frustration at the bearish forces that have hindered

Crypto exchange Crypto.com is giving away an Aston Martin F1 merchandise package to celebrate its partnership with the team. 10 participants stand to win a merchandise pack ahead of Mexico GP. Crypto.com has announced an Aston Martin F1 giveaway as it celebrates its partnership with the Formula One team. The merch pack is available via a campaign period between October 25 and October 29, the crypto exchange noted in a blog post. “ We’re buzzing with anticipation about the upcoming Formula 1 Gran Premio de la Ciudad de México 2023, and are celebrating the event — and the Aston Martin Aramco Cognizant Formula One team’s efforts in the constructor championship — with a giveaway !” The Mexico Grand Prix is near, and we’re celebrating with a #giveaway. 🏆Enter to win a #CryptoCom x @AstonMartinF1 merch pack How to participate👇 🏁 Guess what positions @alo_oficial and @lance_stroll will finish at the #MexicoGP 🔵 Like and RT ✅ Follow @cryptocom pic.twitter.

Prominent lawyer and cryptocurrency advocate, John Deaton, has expressed his reservations about the effectiveness of the Bitcoin Lightning Network, particularly in comparison to the “Spend The Bits” protocol on the XRP Ledger (XRPL). The Lightning Network is a layer-2 scaling solution designed to enhance the scalability and efficiency of Bitcoin transactions, allowing for off-chain, peer-to-peer exchanges. In a Twitter post dated October 21, Deaton disclosed his role as an angel investor in Spend the Bits, where he also serves as the chief legal officer. Notably, Deaton has previously endorsed Spend The Bits as a compelling alternative to Lightning on the Bitcoin blockchain. In September, he commended the protocol, highlighting its superior security when using Bitcoin compared to Lightning. Deaton’s critique coincided with an online post by the crypto investigator WhaleWire, raising concerns about a recent revelation within the Lightning Network. This discovery pointed to a significa

Chainlink (LINK), the 13th largest crypto project by market cap, has surged 50.9% in the weekly charts. LINK is currently the second best-performing crypto over the last week among the top 100 projects. LINK is also the second best-performing crypto in the daily charts, surging 9.1% in the last 24 hours. The project’s market cap has also increased by 6.74%, currently sitting at $6.04 billion. Since the beginning of 2023, LINK has grown by almost 97%. Source: CoinGecko Also Read: Chainlink [LINK] Price Prediction: October End 2023 LINK is following the larger crypto market that has seen a surge in fund inflows. Bitcoin (BTC) is leading the pack, which reached a new yearly high, crossing $34k. Moreover, Chainlink (LINK) also plays an integral part in a recent collaboration between Vodafone’s Digital Asset Broker platform and Sumitomo, a global trading and business investment firm. LINK will act as a bridge between the smart contracts on the blockchain and real-world data, application

The Bitfinex Securities platform is preparing to issue its first tokenized bonds in November. According to Bitfinex CTO Paolo Ardoino, the tokenized bond, called ALT2611, is a 36-month 10 percent coupon bond denominated in US dollars and issued by one of the world’s leaders in microfinance, Mikro Kapital. According to the company, the tokenized bond ALT2611 will absorb the risks associated with the debt and capital of microfinance organizations, small financial institutions, leasing companies and banks in Italy, Romania, Moldova and other developing countries in the Silk Road region. Exciting! This is the first bond listed on Bitfinex Securities. A new era for capital raises through deep liquid markets and stock/fond markets has begun. Furthermore $USDt will become the underlying denomination asset of this new financial ecosystem. And yes. It leverages… https://t.co/ekXj3gY7Xj — Paolo Ardoino (@paoloardoino) October 25, 2023 Ardoino sees the tokenized bond on the securities

Parity Technologies, the blockchain infrastructure provider for Polkadot, is laying off 30% of its staff. The layoffs are part of a strategic shift to focus on technology development for Polkadot. The restructuring will affect teams involved in go-to-market efforts and will occur gradually over several months. Parity Technologies, the key blockchain infrastructure provider behind the Polkadot network, is set to lay off 30% of its staff, which equates to around 100 employees. The decision is part of Parity’s strategic shift to enhance its focus on technology development supporting Polkadot. The company is pivoting its core focus towards enhancing the blockchain technology that underpins Polkadot, a platform renowned for its ability to facilitate seamless communication between various blockchains. Björn Wagner, CEO of Parity, confirmed this significant workforce restructuring with Bloomberg. Wagner, through a spokesperson, stated in an email that the affect

BlockFi has announced its emergence from bankruptcy and is initiating plans to repay creditors , marking a significant turnaround after last year’s challenging halt of withdrawals following the FTX exchange collapse. The Oct. 24 announcement by BlockFi, a crypto lending firm, about its emergence from bankruptcy and the commencement of creditor repayments signifies a pivotal moment in the company’s history. BlockFi is pleased to announce that its bankruptcy plan (the “Plan”) is effective and the company has emerged from bankruptcy as of October 24, 2023 (the “Effective Date”). — BlockFi (@BlockFi) October 24, 2023 Last year, the collapse of the FTX exchange compelled BlockFi to halt withdrawals, leading to a tumultuous period for the company and its stakeholders. In its blog post, the company’s management and advisors take pride in achieving this critical milestone swiftly and efficiently compared to other retail crypto companies. The company’s ability to navigate through ba