1.
Renowned Economist Nominates Ethereum Founder Vitalik Buterin as a Candidate for the Nobel Prize in Economics link
Renowned economist Tyler Cowen nominated Ethereum founder Vitalik Buterin as a candidate for the Nobel Prize in Economics during a podcast with Alex Tabarrok, stating that his contributions to the cryptocurrency monetary economics have "far exceeded those of other economists." Cowen said, "Vitalik has built a platform, created a currency, and you could even say overturned Mises' regression theorem, and his achievements are worthy of a Nobel Prize." The two economists also highly praised Vitalik's feat of successfully transitioning Ethereum from Proof-of-Work (PoW) to Proof-of-Stake (PoS), with Tabbarrok describing the process as "changing the tires on a moving car" and calling it an "incredible achievement." Cowen also specifically mentioned Vitalik's humility and charitable work, believing him to be an excellent candidate for the Nobel Prize.
2.
HBO Believes Peter Todd is Satoshi Nakamoto, Despite His Denial link
HBO's documentary believes that Peter Todd is Satoshi Nakamoto, for the following reasons (although he has denied it):
● In 2010, Todd (using a new account) replied to Satoshi Nakamoto on Bitcointalk; HBO claims he mistakenly used his own account to complete Satoshi's post.
● Both accounts became inactive a few days later.
● Todd later implemented the "replace-by-fee" concept discussed in the post.
● The documentary claims Todd used the pseudonym "John Dillon" to push for RBF.
● Both used British/Canadian spelling.
● Satoshi's posting schedule matches the student schedule claimed in the documentary, with more posts on weekends.
● Todd had discussed "sacrificing" Bitcoin; the documentary implies this refers to destroying Satoshi's coins.
3.
US September Unadjusted Core CPI Year-on-Year 3.3%, CPI Year-on-Year 2.4% link
The US September unadjusted core CPI year-on-year was 3.3%, higher than the expected 3.2% and the previous 3.20%. The US September unadjusted CPI year-on-year was 2.4%, higher than the expected 2.3% and the previous 2.50%. The US core CPI year-on-year rate was higher than market expectations, reaching a new high since June. The number of initial jobless claims in the US for the week ending October 5 was 258,000, the highest since the week of August 5, 2023.
4.
UBS: China's Stimulus Measures May Be Announced After the National Day Holiday or Around the Release of Q3 Economic Data on October 18 link
In a report, UBS Chief China Economist Wang Tao pointed out that the market expects China to introduce a fiscal stimulus package. A relatively moderate package of 1.5 trillion to 2 trillion yuan in the short term may be more reasonable, allowing economic growth to approach the target of around 5% this year. He also expects an additional 2 trillion to 3 trillion yuan of fiscal expansion next year based on the previous baseline forecast. The stimulus measures this year may be announced after the National Day holiday or around October 18, when the Q3 economic data is released, and the measures for next year may be decided around the Central Economic Work Conference in December.
5.
The US Brings Its First Criminal Charges Against Financial Services Companies for Market Manipulation and Fraudulent Trading in the Crypto Sector link
US prosecutors said on Wednesday that four cryptocurrency companies and 14 individuals have been charged, marking the first criminal charges against financial services companies for market manipulation and fraudulent trading in the crypto sector. The federal prosecutors in Boston indicted Gotbit, ZM Quant, CLS Global, and MyTrade, as well as their leaders and employees, including overseas arrests. Five people have already agreed to plead guilty or have pleaded guilty.
The most notable aspect of the case is the FBI's method of apprehending the defendants, as it took "unprecedented steps" by creating its own cryptocurrency token and a fake company, NexFundAI, which runs on the Ethereum blockchain, to help lure in the alleged scammers. NexFundAI is still actively trading, with a market cap of around $237,000.
Gotbit provided market-making services for projects such as DUKO, PENG, SOLAMA, MYRO, BONK, and many other memecoins, and invested in projects like Poolz, 5ire, and analoS.
6.
Irish Criminal Assets Bureau Seizes $378 Million in Bitcoin, Unable to Recover Due to Lost Seed Phrase link
The Irish Criminal Assets Bureau (CAB) has seized the Bitcoin of a drug dealer since 2019, worth a staggering $378 million, but has been unable to access it due to the loss of the seed phrase. The Bitcoin is stored in 12 wallets and was worth around $56 million when first seized in 2020. The drug dealer, Clifton Collins, claims the document containing the seed phrase was lost in a burglary. According to CAB's annual report, they have only recovered assets worth $1.3 million, including 89 Bitcoin, a fishing boat, a gyroplane, and other vehicles.
7.
Crypto.com Has Filed a Lawsuit Against the US Securities and Exchange Commission (SEC) link
Crypto.com states that despite bipartisan statements that the next administration will take a more constructive and effective approach to advancing crypto technology in the US, the SEC's unauthorized and unfair enforcement actions continue. Currently, the SEC's improper enforcement actions have become a necessary part of operating a legal and licensed crypto business in the US. Crypto.com believes the SEC has unilaterally expanded its statutory authority and has established an unlawful rule that virtually all crypto asset transactions, regardless of how they are sold, are considered securities transactions, while the same transactions for Bitcoin (BTC) and Ethereum (ETH) are not. This illegal rule was never subject to the notice and comment period required by the Administrative Procedure Act, and the agency's application of the rule is arbitrary and capricious, especially when the characteristics of these crypto assets are nearly identical to BTC and ETH and are sold in the same manner.
8.
US Judge Approves FTX Bankruptcy Plan link
Judge John Dorsey of the US Bankruptcy Court in Delaware has approved FTX's bankruptcy plan, marking the end of the litigation process following the cryptocurrency exchange's collapse two years ago due to fraud and misconduct allegations. Under the plan, 98% of creditors will receive at least 118% of their claimed amounts in cash. The news has impacted the FTT token, which surged over 10.41% on Tuesday morning, reaching a high of $3.43.
9.
Chairman of the South Korean Financial Services Commission to Investigate Upbit's Dominance in the Crypto Market linkThe chairman of the South Korean Financial Services Commission, Kim Byung-hwan, stated at the National Assembly's government inspection meeting that they will investigate the market monopoly structure of Upbit, the largest domestic cryptocurrency exchange. This response was made in response to a question from National Assembly member Lee Kang-il about the monopoly phenomenon of Upbit. Lee Kang-il pointed out that Upbit is the second largest cryptocurrency exchange in the world, and its dominant market position began after it established a business partnership with K-Bank. He also mentioned that K-Bank is about to go public (IPO), and about 20% of its total deposits come from Upbit customers, which could lead to a risk of bank run.
10. Binance announces Scroll (SCR) as the 60th Launchpool project link
Binance announced that the 60th Launchpool project is Scroll (SCR), which is a zkEVM Rollup L2. Users will be able to lock their BNB and FDUSD to receive SCR airdrop within two days, with farming starting from 2024–10–09 00:00 (UTC). Binance's pre-sale market will go live on 2024–10–11 10:00 (UTC) for SCR, and open the SCR/USDT trading pair for pre-trading. The total supply of SCR is 1 billion, with 5.5% allocated to the Launchpool, and the initial circulating supply at the time of Binance listing will be 190 million SCR (19% of the total supply).
According to Korean trader Cryptomouse, Upbit and Bithumb have already conducted on-chain testing of Scoll trading, indicating that the two Korean exchanges will also list SCR in the coming weeks.
Key Fundraising Events
- Stablecoin development company Yala announced the completion of an $8 million seed round funding link
- Kriptown announced the completion of a €42 million Series A funding round link
- Decentralized AI infrastructure platform OpenGradient announced the completion of an $8.5 million seed round funding link
- UK Web3 gaming studio Dragonz Lab announced the completion of a $9 million funding round link
- MEV infrastructure developer Semantic Layer announced the completion of a $3 million seed round funding led by Figment Capital link
- AI startup Kiva AI completed a $7 million seed round funding, led by Coinfund link
- APRO Oracle announced the completion of a $3 million seed round funding link
- Bitlayer has raised $9 million from investors including Polychain Capital link
For more industry fundraising events, please check crypto-fundraising.info.
