The defense team has already lost two bids to have Bankman-Fried temporarily released since he was remanded, but has made another attempt, offering to impose strict conditions around the onetime FTX executive. Judge Kaplan set a 5:00 p.m. ET deadline today for the Department of Justice to comment on the request and scheduled a hearing to discuss the motion at 10:00 a.m. ET on Thursday. Source
The declines came as the 10-year Treasury yield surged another nine basis points to a fresh 16-year high of 4.63%. Alongside the rise in interest rates, the price of oil was ahead by more than 3.5% to a new 2023 high of $93.53 per barrel. The term “stagflation” – suggesting a combination of slow growth and fast inflation in the economy – hasn’t been seen a lot since the 1970s, but quickly rising rates and oil prices are likely to spark an increase in usage. Original
This constant stream of new staking participants — the current number of validators sits at about 800,000 — has been so substantial that it has even led some to propose a hard cap on the number of new validators that can enter the pool on any given day. The rationale being that the current “churn” limit of 12 new validators per epoch, (which equates to 2,700 validators, 86,400 ETH, or roughly $138,000,000 per day), is unsustainable long term. A queue controls how many can join at any given time and…
One altcoin project has pulled off a more than 240% rally this month and secured a listing by a leading crypto exchange platform. The Loom Network (LOOM) kicked off September trading at a low of $0.038 and 25 days later soared to a high of $0.13, a 242% percent increase. LOOM has since retraced slightly and is trading for $0.11 at time of writing. Amid the strong performance, leading global crypto exchange Gate.io announced this week it was listing LOOM for trading. The Loom Network is a multichain interoperability platform…
The Bitcoin price has been trading sideways for a while now but this will not always be the case. While there is a chance that the price could end up swinging downward and crashing, a crypto analyst has predicted that a surge in the cryptocurrency’s price is on the horizon. Bitcoin Price Breakout Is Coming A crypto analyst who has grown to prominence on the TradingView site has put forward a bullish prediction for the Bitcoin price. The analyst who goes by the pseudonym Tolberti mapped out a yellow trend…
The document, filed on Wednesday in the U.S. District Court for the Southern District of New York, shows Kwon’s lawyers are opposing any opportunity for the stablecoin creator to offer testimony to U.S. regulators. The lawyers argue that it would be “impossible” to bring Kwon to the U.S. because he remains detained indefinitely in Montenegro. The former executive, they say, also cannot provide written testimony to the SEC because it would violate his due process rights under U.S. law. Source
GOOGLE BLOCKCHAIN: In a sign that big tech companies are nosing into blockchain, Google’s cloud-computing division is increasingly popping up in crypto news headlines, and top executives focused on Web3 are making the rounds with media. Last week, Google Cloud announced it would add 11 networks including Polygon, Optimism and Polkadot to its ‘BigQuery’ program for public datasets, originally set up for Bitcoin in 2018 and later expanded to additional chains including Ethereum, Litecoin and Dogecoin. “Over the past 18 months we’ve been investing in this space, we’ve continued to…
A federal judge has granted a motion from the legal team for Sam Bankman-Fried (SBF) allowing the former FTX CEO to wear business attire during his first criminal trial. In a Sept. 27 order filed in United States District Court for the Southern District of New York, Judge Lewis Kaplan said the United States Marshals Service and the Metropolitan Detention Center in Brooklyn would make arrangements for SBF to wear business attire for the duration of his criminal trial starting in October. Authorities will be responsible for “accept[ing] and maintain[ing]”…
Binance France has temporarily extended its collaboration with Paysafe. The partnership, which was supposed to end on Sep. 25, has been prolonged to ensure smooth operations. Binance France clients are now urged to convert their fiat balances to crypto. In June, Binance said it was working with Paysafe, the global payment solutions provider, to implement an orderly and fair process to terminate this service over the next few months. In the Sep. 26 update, a Binance France spokesperson said the exchange had negotiated more time for clients and would provide another update on…
On-chain data shows that Bitcoin long-term holders are making deposits to exchanges currently, something that could be bearish for the price. Bitcoin Exchange Inflow CDD Has Spiked Recently As explained by an analyst in a CryptoQuant Quicktake post, investors have been making deposits to spot exchanges recently. There are two relevant indicators here: the “exchange inflow” and the “exchange reserve.” The former of these keeps track of the total amount of Bitcoin that the holders are transferring to centralized exchanges, while the latter one measures the total amount sitting in…