Featured Stories of the Week
Director identifies QAnon author says HBO movie will reveal Satoshi
Documentary filmmaker Cullen Hoback and HBO have just announced the release of the upcoming film “Money Electric: The Bitcoin Mystery,” while also hinting that the true identity of Bitcoin’s creator, Satoshi Nakamoto, may be revealed.
Cullen Hoback is perhaps best known today for his HBO series “Q: Into the Storm,” in which he claims to have identified some of the authors of the QAnon conspiracy theory.
In this latest effort, Hoback has investigated the origins of Bitcoin, seemingly in an attempt to uncover the true identity of the engineer known as Satoshi Nakamoto, who is credited as the creator of Bitcoin and the underlying technology.
“Some of you may be wondering why I disappeared. Well, I’m tracking down someone else who disappeared. Curious who’s behind Bitcoin ? ‘Money Electric: The Bitcoin Mystery’ is coming out next Tuesday. It’s going to be a thrilling ride,” Hoback said in a post on X announcing the documentary.
Banks to join SWIFT digital asset trial in 2025
Banks in North America, Europe and Asia are preparing to participate in digital asset-related trials by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
SWIFT announced on October 3 that it will begin digital asset trials on its network in 2025. The trials will involve transactions with a variety of currencies and digital assets.
The trials are aimed at examining how the banking network can provide financial institutions with consistent access to “a wide range of digital assets and currencies.”
“Initial use cases will focus on payments, forex, securities and commerce to perform cross-ledger transactions and cross-payment transactions,” the announcement said.
US Jobs Report Signals Fewer Rate Cuts, Still Positive for BTC: Grayscale
The strong U.S. September jobs report signals a possible slowdown in interest rate cuts, but is still beneficial for Bitcoin (BTC) as investors favor higher-risk assets, Zach Pandl, head of research at Grayscale, told Bitcoin News.
“The Fed rate cut talk and debate over larger government deficits continue alongside solid economic growth, which should be a positive for investor risk appetite and could reintroduce inflation risks in the medium term,” Pandl said.
“Grayscale Research expects Bitcoin to benefit in this risk-positive environment,” he explained.
The U.S. economy created about 254,000 jobs in September, far exceeding economists' forecasts of about 140,000 new jobs, according to the U.S. Bureau of Labor Statistics.
The spot BTC price reached an intraday high of over $62,300 on October 4, following stronger-than-expected jobs data.
Ripple and Mercado Bitcoin Launch Crypto Payments in Brazil
Blockchain payments network Ripple is partnering with a major cryptocurrency exchange in Brazil to launch crypto-powered cross-border payments.
Ripple has partnered with Brazilian Bitcoin exchange Mercado to enable local businesses to make payments using Ripple’s “managed end-to-end payment solution,” according to an official announcement on October 3.
With the new payment tool, businesses in Brazil will be able to receive “faster, cheaper, more efficient payments globally 24/7 and settle payments in minutes,” Ripple said.
According to the announcement, the new product is not yet available to customers. Ripple expects the initial operations to involve institutional clients, exclusively from Mercado Bitcoin to Mercado Bitcoin Portugal.
This integration builds on Ripple's new feature that allows the company to manage end-to-end payments on behalf of customers, launching in 2023.
FTX Auctions Worldcoin Token This Week
FTX’s bankruptcy estate is preparing to auction around 22 million Worldcoin (WLD) Token — worth around $38 million — on October 3, a source told TinTucBitcoin.
Investors must submit bids by October 3, with a minimum bid of $2.5 million to qualify for the auction, and Token can be sold at a steep discount of up to 75%.
TinTucBitcoin also learned that the Token will be locked for a four-year period, ending in 2028.
Approximately 20,000 WLD Token will be unlocked daily, starting on December 1, 2024. The unlock schedule will then slow down to approximately 14,000 WLD Token per day from July 2026 until the end of 2028.
Winners and Losers
At the end of the week, Bitcoin (BTC) was at $62,378 , Ether (ETH) was at $2,427 , and XRP was at $0.53.
Its market Capital reached $2.17 trillion according to CoinMarketCap.
Among the top 100 cryptocurrencies, the three altcoins that gained the most this week were FTX Token (FTT) up 63.96%, Popcat ( SOL ) (POPCAT) up 27.15%, and MANTRA (OM) up 12.44%.
The three altcoins that lost the most this week were Notcoin (NOT) down 26.22%, Lido DAO (LDO) down 21.67%, and Arweave (AR) down 20.52%. For more on cryptocurrency prices, read TinTucBitcoin's market analysis.
Most Memorable Quotes
“Telegram was built to protect activists and people from corrupt governments and companies — we won’t allow criminals to abuse our platform or escape justice.”
Pavel Durov, founder and CEO of Telegram
“For digital assets and currencies to succeed on a global scale, it is essential that they can coexist seamlessly with traditional forms of currency.”
Tom Zschach, chief innovation officer at the Securities Industry and Financial Markets Association
Combining online and offline user experiences by leveraging Base, CB advance, and Coinbase wallet makes me very optimistic about mass adoption.
Altcoin Psycho, the pseudonymous crypto analyst
“ on-chain pricing data suggests Bitcoin could head towards $85,000-100,000 in Q4 amid recovering demand and positive seasonality.”
CryptoQuant Analysts
“Chasing stories can bankrupt you.”
Regan Bozman, co-founder of Lattice
“We expect Bitcoin to benefit from any stock correction due to its nature as a risk asset amid global monetary easing.”
QCP Capital, a Cryptoasset trading firm
Forecast of the Week
XRP Price Drops 15% in 3 Days — Does Ripple’s Legal Defeat Mark a Dip?
XRP has fallen nearly 15% so far in October, with the decline largely due to the U.S. Securities and Exchange Commission’s (SEC) new appeal in its lawsuit against Ripple.
However, for some analysts, XRP ’s decline may be more of a buying opportunity than a cause for concern. More specifically, historical price patterns and recent whale accumulation suggest that XRP could be poised for a major rally in the coming months.
The analyst using the alias CryptoBull pointed out a striking similarity between XRP 's current price behavior and its 2017 bull market trajectory.
At that time, XRP consolidated within a symmetrical triangle pattern before breaking out and rallying 66,240% to a record high of $3.31. In October 2024, the asset was approaching the apex of a similar triangle structure, as seen on its monthly chart.
These formations often precede strong directional moves, and if XRP continues historical precedent, a breakout could lead to significant gains.
In the case of symmetrical triangles, especially in an uptrend, breakouts tend to be positive, with price gains matching the height of the triangle at its widest point.
For XRP, the apex of the current symmetrical triangle is around $0.52. If the price breaks above the upper resistance from this level around June 2025, the pattern’s potential upside target is near $23.40, representing an impressive increase of over 4,200% in the coming years.
Fear, Uncertainty, and Doubt (FUD) of the Week
Hackers pocketed $440 million through 28 exploits in Q3: Report
The third quarter saw the smallest loss from hacks the industry has seen in three years, according to a report by cybersecurity firm Hacken. About $460 million was stolen across 28 incidents.
However, the recovery rate was the lowest in recent years at just 5%. Hacken Chia down this data along with the overall state of Web3 security in Q3. It also discusses the main types of attacks, the most affected projects, and mitigation strategies.
Attacks on access control mechanisms accounted for $316 million, nearly 70% of the total amount of funds stolen in crypto hacks in Q3. The actors who carried out these attacks gained control of the keys that control smart contracts . Once they have control of the keys, they can withdraw funds from the contract to their wallet or upgrade the proxy contract deployment to enable withdrawal functionality.
Vietnamese police bust cryptocurrency scam ring linked to offshore actors
Vietnamese provincial police have arrested five individuals involved in a complex cryptocurrency scam network led by offshore bad actors, according to reports from local media.
On October 4, police from Nghe An Province, a Vietnamese province bordering Laos and the Gulf of Tonkin, busted a Laos-based scam ring that involved fraudulent money transfers. The scammers were led by offshore scammers specializing in “pig-cutting” — a long-term investment scam in which victims are tricked into contributing increasing Capital — and cryptocurrency investment scams.
Nghe An police have arrested two Vietnamese suspects after investigating and confirming direct links to cryptocurrency scams.
According to the report, one of the scammers traveled to Laos in September 2023 to join the scam gang. In February, they began creating Facebook accounts to trick victims into participating in investment scams.
Binance Warns of Crypto Market Risks from Overvaluation, Centralization
The cryptocurrency market faces significant risks due to overvaluation and concentration of Token ownership, according to the latest report from Binance .
The report warns that if these challenges are not addressed, these risks could undermine the stability and integrity of the cryptocurrency industry in the long term.
Speaking to TinTucBitcoin, a Binance spokesperson explained that: “As more and more people enter the market, there is a greater emphasis on valuation and responsible financial management.”
“Our report highlights the critical importance of decentralized control and transparency in the use of funds to build long-term trust. Projects that adopt these principles will be better positioned to gain market confidence and achieve sustainable growth.”
Featured Magazine Stories of the Week
Anti-aging mogul Bryan Johnson has devoted most of his life to cryptocurrency
“The reality is that my life could have been entirely about crypto,” said the millionaire, who has instead dedicated his life to pushing the limits of longevity.
Suspicious Arrest of Cryptocurrency Fraud Reporter, Japanese Prime Minister Backs Crypto: Asia Express
Cambodia arrests journalist reporting on multi-billion dollar cryptocurrency scams, South Korea and US team up to tackle North Korean cybercrime, and more.
Is Telegram's Pavel Durov guilty? Crypto Lawyers Weigh In
The arrest of Telegram CEO Pavel Durov pushes the technology into uncharted territory. Our panel of crypto lawyers weigh the implications.
