Judge rules in favor of Ripple against SEC; Bitcoin decouples from legacy markets
Some of the biggest crypto industry news on Sept. 30 included the SEC’s ruling in favor of Ripple on the Hinman dossier, Bitcoin’s detachment from the S&P 500 amid macro turmoil, and crypto Including currency influencer Lark Davis denying ZachXBT’s accusations.
CryptoSlate Top Stories
Judge Rules SEC in favor of Ripple in Hinman Document Lawsuit
The SEC’s motion to avoid submitting Hinman’s documents for review Rejected Judge Torres today.
The SEC was ordered to turn over the documents to Ripple Labs because they were not protected by legal authority.
Bitcoin Separates From Legacy Markets Amid Macro Turmoil
Bitcoin has been trading between $18,100 and $22,800 since Sept. 1, and the S&P 500 has fallen 10% over the same period.
Analysts believe that given the decoupling of the flagship cryptocurrency from the S&P 500, Dylan LeClair said Bitcoin may be on the way to reclaiming its safe-haven narrative.
But decoupling is “very unlikely” to continue as central banks fight to save the worsening global economy, LeClaire added.
Future rate hikes may be good for crypto markets as major currencies devalue against the dollar
About £200 million has flowed into Bitcoin in pounds since the British pound lost 4.8% of its value against the US dollar on Sept. 26.
Investor Vinnie Lingham We predict that the Bitcoin price will continue to rise as more currencies devalue against the dollar. As a result, more people may turn to Bitcoin as a store of value and as a hedge against volatile local currencies.
Exploiting a profanity flaw, the Wintermute hack was replicated on a simple laptop within 48 hours
Amber Group’s latest experiment invalidates claims that cracking a Profanity-generated private key takes about 50 days on 1,000 GPUs.
Amber Group used an M1 Macbook with 32GB RAM to crack the Wintermute private key within 48 hours. The group warned that funds held in addresses generated by Profanity are not safe.
Ethereum is losing momentum as Solana now accounts for a quarter of total NFT volume
Data available from Delphi Digital shows that Ethereum is losing NFT trading volume to Solana.
Newly created NFTs on Solana saw their trading volume increase from 7% to 24% in the last 6 weeks.
Theta upgrade started to support wTHETA as a TNT20 token
In preparation for the launch of Theta Metachain in December 2022, Theta Labs has rolled out Theta v3.4.0 upgrade to support THETA wrapped as a TNT20 token (wTHETA).
Token holders can transfer wTHETA to their Metamask wallet while staking THETA and TFUEL on supported nodes.
Lark Davis denies accusations that ZachXBT is profiting from followers by shilling low-cap tokens.
crypto influencer Lark Davis denied ZachXBT’s allegations, so he moved to save his name.
Davis maintained that he kept the community updated on investment opportunities, had no intention of harming his followers, and only profited from the token sale.
Uniswap Labs Rumored To Raise $100 Million At $1 Billion Valuation
Uniswap Lab is looking to raise $100 million at a $1 billion valuation, according to an insider report available to TechCrunch.
MicroStrategy Seeks to Hire Bitcoin Lightning Software Engineer
MicroStrategy now hires software engineers to develop its Lightning Network-based Software-as-a-Service (SaaS) platform.
The solution helps businesses manage employee data, combat cybersecurity threats, and explore new e-commerce use cases.
Celsius Creditors In Move To Recover $439 Million Via EquitiesFirst Subpoena
EquitiesFirst owes Celsius $439 million after failing to return collateral deposited by bankrupt cryptocurrency lenders.
The creditors committee shall pleaded The court asked Equities First to issue a subpoena confirming that it would clarify its business dealings with Celsius.
research highlights
Bitcoin Cost-Based Metric Shows Short-Term Holders’ Capitulation
When Bitcoin’s cost base ratio falls below 1, CryptoSlate Analyst We predict that we will see the bottom of the market. Short-term holders are losing confidence as the realized price of STH is starting to fall below the realized price of LTH.
Nevertheless, market troughs are often months long, so it may be a while before an uptrend becomes sustainable.
News around Cryptoverse
Digitex Trading Platforms Deemed Illegal by CFTC
According to media reports, the CFTC has filed a complaint alleging that derivatives trading platform Digitex is illegal because founder Adam Todd failed to register his futures trading activities with the commission.
Digitex has also been accused of not implementing a legitimate KYC process as required by the Bank Secrecy Act.
US Trustees Move to Stop Celsius from Reopening Withdrawals
The United States Trustee’s Office motion We ask the court to deny Celsius’ request to allow parental withdrawal.
The regulator said it was too early to resume withdrawals because the bankruptcy court would need to look at an independent examiner’s report before deciding when withdrawals would be allowed.
crypto market
Bitcoin is trading at $19,671, up 1.83% over the past 24 hours, while Ethereum is trading at $1,347, up 1.35% over the same period.
