Compiled by: Luan Peng, ChainCatcher
Important News:
- Preview: The U.S. will release September CPI data tonight at 8:30 PM
- Mt.Gox extends compensation deadline by one year to October 31, 2025
- Peter Todd: Being incorrectly identified as "Satoshi Nakamoto" by HBO poses security risks, has not decided whether to sue
- Bloomberg analyst expects Bitcoin ETF options to launch in Q1 2025
- Chairman of the South Korean Financial Commission: Will review monopoly phenomena in the virtual asset market centered around Upbit
- Six members of a U.S. darknet drug trafficking group sentenced for cryptocurrency money laundering, with maximum sentences of up to 84 months
- FTX creditors withdraw class action lawsuit against U.S. law firm Sullivan & Cromwell
- South Korean financial regulators may lift ban on spot cryptocurrency ETFs
"What important events have occurred in the past 24 hours"
Preview: The U.S. will release September CPI data tonight at 8:30 PM
According to Wall Street News, the U.S. will release September CPI data tonight at 8:30 PM.
It is reported that the U.S. August CPI rose by 2.5% year-on-year, and the core CPI (excluding volatile food and energy costs) rose by 3.2% year-on-year.
Mt.Gox extends compensation deadline by one year to October 31, 2025
Mt.Gox officially announced today that the bankruptcy administrator has basically completed the compensation work for bankruptcy creditors who have completed the necessary procedures for receiving compensation and encountered no issues during the compensation process. However, many bankruptcy creditors have not completed the necessary procedures to receive repayment and thus have not yet received it; additionally, due to various issues that arose during the repayment process, a significant number of bankruptcy creditors have temporarily not received repayment. In order to reasonably compensate these bankruptcy creditors as much as possible, the bankruptcy administrator, with court permission, has changed the compensation deadline from October 31, 2024 (Japan Standard Time) to October 31, 2025 (Japan Time).
According to Daily Economic News, HBO's latest documentary "Money Electric: The Bitcoin Mystery" has launched, in which director Cullen Hoback identifies Canadian software developer and cryptocurrency expert Peter Todd as "Satoshi Nakamoto." In response, Peter Todd emphasized that he is not "Satoshi Nakamoto," and that Cullen Hoback's identification of him as such is merely a way to attract attention to his Bitcoin documentary.
"During the documentary production process, Cullen interviewed me 4 to 5 times, lasting many hours. Until the last interview, he gave no impression that he was looking for Satoshi Nakamoto. He just introduced that he was trying to make a documentary about Bitcoin itself," Peter Todd further explained.
Additionally, Peter Todd emphasized his personal safety, stating, "Being falsely accused by (Cullen Hoback) of having billions of dollars poses risks for me." Peter Todd also mentioned that he has not yet decided whether to take legal action to protect his interests.
Bloomberg analyst expects Bitcoin ETF options to launch in Q1 2025
Bloomberg analyst James Seyffart stated that exchange-traded funds (ETFs) are likely to launch in the U.S. in the first quarter of 2025.
Seyffart mentioned during a panel discussion at the Permissionless conference on October 9, "I think it is possible to launch options before the end of this year, but it is more likely to be in the first quarter of 2025."
In September, the U.S. Securities and Exchange Commission (SEC) authorized Nasdaq to list options linked to the BlackRock Bitcoin ETF, iShares Bitcoin Trust (IBIT). They are awaiting final approval from the Commodity Futures Trading Commission (CFTC) and the Options Clearing Corporation (OCC).
Seyffart stated, "Unlike the SEC's regulations, the CFTC and OCC do not have strict deadlines, so they can further delay if they wish."
Chairman of the South Korean Financial Commission Kim Byung-hwan stated that they will review monopoly phenomena in the virtual asset market centered around Upbit. In response to questions from lawmakers regarding Upbit's monopoly structure during a national government inspection by the National Assembly, Kim Byung-hwan pointed out that a comprehensive review will be conducted through the Virtual Asset Committee.
Lawmakers also questioned the partnership between Upbit and K Bank, stating, "K Bank's total deposits amount to 22 trillion won, of which Upbit's deposits reach 4 trillion won, accounting for as much as 20%. If Upbit's trading is interrupted, K Bank may face a run on the bank."
A darknet drug trafficking group in Texas has been sentenced for cryptocurrency money laundering, with six members receiving sentences ranging from probation to 84 months in prison. The group operated under the name "Loverbois," selling nearly 12 kilograms of methamphetamine and laundering up to $50,000 per month through cryptocurrency from July 2019 to December 2020.
This ruling stems from a joint investigation by multiple agencies, including the FBI, DEA, and U.S. Postal Inspection Service, as part of the Organized Crime Drug Enforcement Task Force (OCDETF).
FTX creditors withdraw class action lawsuit against U.S. law firm Sullivan & Cromwell
According to Cointelegraph, FTX creditors have voluntarily withdrawn their class action lawsuit against the U.S. law firm Sullivan & Cromwell (S&C). The Moskowitz law firm, representing the lead plaintiffs, stated that the withdrawal is voluntary and does not involve any settlement agreement.
On February 16, 2024, a group of FTX creditors sued S&C, accusing the firm of participating in FTX's multi-billion dollar fraud and profiting from it. The lawsuit sought damages for civil conspiracy, aiding and abetting breach of fiduciary duty, and aiding and abetting fraud. S&C had served as external legal counsel for FTX in several transactions and is currently overseeing FTX's bankruptcy proceedings.
Adam Moskowitz, founder and managing partner of the Moskowitz law firm, explained the reason for the withdrawal: "Based on the evidence we have seen, we believe there is not enough reason to file a lawsuit, so we have withdrawn the complaint. Now, we can sit down and work together to try to obtain maximum compensation for the victims from other third parties."
South Korean financial regulators may lift ban on spot cryptocurrency ETFs
According to The Block, the South Korean Financial Services Commission (FSC) recently stated that it will reassess the ban on spot cryptocurrency ETFs and institutional accounts trading on cryptocurrency exchanges. This news marks a significant shift in the regulatory agency's attitude towards digital assets.
It is reported that the newly established cryptocurrency committee of the FSC will review the current ban. Previously, South Korean lawmakers have been calling for a change in the status quo, with both the ruling Democratic Party and the opposition promising to approve local spot Bitcoin ETFs during earlier elections this year. Since 2018, institutional investors in South Korea have effectively been banned from opening trading accounts on cryptocurrency exchanges. This policy adjustment may open new channels for institutional investors to participate in the cryptocurrency market.
Meanwhile, FSC Chairman Kim Byung-hwan stated that they will investigate the monopoly structure of South Korean digital asset exchanges. Data shows that among the five exchanges with full licenses in South Korea, Upbit processed over $1.17 billion in trading volume in the past 24 hours, accounting for over 61% of the market share. In March of this year, its monthly average market share once soared to 80%. Democratic Party lawmaker Lee Kang-il also expressed concerns about the financial relationship between Upbit and its partner bank K-bank. He pointed out that Upbit's deposits account for 20% of K-bank's total deposits, warning that if the partnership between the two is interrupted, it could trigger a run on the bank.
Coinbase International has launched ARKM perpetual contracts
According to official news, Coinbase International and Coinbase Advanced have launched Arkham (ARKM) perpetual contracts. Limit, market, stop-loss, and limit-stop orders are now available.
Polymarket data shows that the probability of Trump winning the 2024 U.S. presidential election has risen to 54.1%, while the probability of Harris winning has dropped to 45.3%.
"What interesting articles are worth reading in the past 24 hours"
On October 9, on-chain detective ZachXBT revealed the on-chain address holdings of meme coin analyst representative Murad, quickly attracting attention from the crypto community and sparking a narrative of the revival of old meme coins, with low market cap MEME coins becoming an unspoken secret in the crypto community.
In fact, since Binance listed three meme coins (Neiro, Turbo, and BabyDoge) in one day on September 15, leading to a case sensitivity debate over Neiro and NEIRO tokens, the meme coin market has already ignited a new wave of speculation. During the National Day holiday, reports related to meme projects flooded the community, filled with various stories of overnight wealth. Vitalik sold gifted MEME coins on-chain twice in a row and publicly expressed gratitude to the MEME project, leading to a remarkable near-hundredfold increase in the zoo coin Hippo MOODENG, attracting investors eager to capture the next hundredfold MEME coin.
However, unlike previous meme coin speculation, which was irregular and wildly inflated, this round of meme coin speculation mainly revolves around: the case sensitivity debate over naming letters, donations to Vitalik and his selling of coins to pump prices, and the revival of Cult (mockery culture) MEME coins.
Today, the centralized open-source AI platform OpenGradient announced the completion of an $8.5 million seed round of financing. Investors include a16z Crypto Startup Accelerator, Foresight Ventures, SV Angel, Coinbase Ventures, SALT Fund, and Symbolic Capital. Notable angel investors such as Balaji Srinivasan, NEAR founder Illia Polosukhin, and Polygon founder Sandeep Nailwal also participated.
The funds will be used to continue building decentralized infrastructure, deploying solutions and tools for AI and Web3 developers, and advancing applied ML research to develop an open-source AI ecosystem on the blockchain. The OpenGradient testnet is expected to be open to developers in Q4 2024.
In early September, OpenGradient was also selected for the a16z Crypto Fall Startup Accelerator (CSX) program. a16z CSX invests at least $500,000 in each selected company, and the program includes an 8-week training in New York City, providing firsthand experience from top crypto founders, guidance and support from the a16z crypto investment and operations team, and connections with other companies and the broader a16z network.
According to the official website, OpenGradient is the first decentralized platform for hosting open-source AI models, secure execution, agent reasoning, and application deployment. OpenGradient's new heterogeneous AI computing architecture (HACA) enables permissionless AI reasoning, statistical analysis, data processing, and agent execution to run securely and scalably end-to-end via smart contracts, while building a web platform designed to accelerate AI research. OpenGradient allows developers to seamlessly leverage open-source models and utilize computing for risk management, ML optimization, AI agents, anti-sybil, DeFi mechanism design, and more.
Recently, Coingecko released a research report on U.S. crypto enforcement actions, based on official announcements from January 1, 2019, to October 9, 2024, studying the monetary value settlements reached between crypto companies and U.S. regulators in federal and state court cases, excluding charges against individuals. Here are the details of the report.
In recent days, you must have seen the figure of this young man—long hair, big beard, and glasses, exuding a rock-and-roll vibe.
His name is Murad Mahmudov, who previously was not considered a crypto KOL star, but in recent days, he has jumped to become the meme call king due to intense analysis and commentary from external networks.
What made him famous was his speech "Meme Coin Super Cycle" at the 2049 conference in Singapore this year, which has garnered 1.76 million views as of the time of writing.
If you haven't heard of this young man, you might want to watch this video, where you'll find him using extremely formal theories, detailed data, and overflowing confidence to market meme coins, with his key statements filled with emotional value, reminiscent of a "speak to shock" style:
For example, the total market cap of meme coins should exceed one trillion dollars, Bitcoin will reach $200 trillion in 20 years, and you need to overturn investment logic to embrace this new cycle of meme…
Cycle Trading: What lies ahead for the A-share market?
Since the "924" new policy, the Chinese stock market has experienced an epic surge. Policies from the three financial ministries and the Central Political Bureau meeting have unexpectedly boosted market sentiment, leading to a strong rebound in the A-share and Hong Kong stock markets, leading the global market. However, after the National Day holiday, the market turned downward amid overly optimistic expectations. Is this round of market activity a fleeting moment or has a major bottom already formed? This article will attempt to make a judgment from the perspective of analyzing the domestic economic fundamentals, policies, and overall valuation levels of the stock market.
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