Ether futures ETFs launching, SBF trial to begin and 3AC’s Su Zhu arrested: Hodler’s Digest, Sept. 24-30

Top Stories This Week

Ethereum futures ETFs to commencement trading adjacent week

Investment steadfast Valkyrie will commencement offering vulnerability to Ether futures successful the coming days. On Sept. 28, the steadfast told Cointelegraph that its Bitcoin Strategy ETF volition let investors entree to Ether and Bitcoin futures “under 1 wrapper,” making it 1 of the archetypal firms to bash truthful amid respective pending applications with the U.S. Securities and Exchange Commission. Starting Oct. 3, the fund’s sanction volition beryllium updated to the Valkyrie Bitcoin and Ether Strategy ETF. Asset manager VanEck besides disclosed its upcoming Ethereum Strategy ETF, which volition beryllium listed connected the Chicago Board Options Exchange successful the coming days. Analysts suggested that a imaginable U.S. authorities shutdown mightiness person accelerated the motorboat of Ether futures ETFs.

SBF proceedings dates revealed: FTX laminitis to basal proceedings implicit 6 weeks

Former FTX CEO Sam “SBF” Bankman-Fried will spend astatine slightest 21 days successful tribunal arsenic portion of his transgression trial, which volition statesman successful earnest connected Oct. 4 and past until Nov. 9, according to a recently released proceedings calendar posted to the nationalist tribunal docket. The archetypal authoritative day of the Bankman-Fried proceedings is Oct. 4, wherever the participants volition statesman discussing 7 fraud charges laid against SBF. There are 2 substantive charges wherever the prosecution indispensable person a assemblage that Bankman-Fried committed the crime. Five different “conspiracy” charges impact the prosecution convincing a assemblage that Bankman-Fried planned to perpetrate the crimes. The erstwhile FTX CEO has been serving pre-trial detention astatine the Brooklyn Metropolitan Detention Center since Aug. 11. If considered blameworthy of fraud, Bankman-Fried is apt to spend the remainder of his beingness successful prison, ineligible specialists explained to Cointelegraph.

3AC’s Su Zhu arrested successful Singapore

Co-founder of Three Arrows Capital (3AC) Su Zhu was detained astatine Changi Airport successful Singapore portion trying to leave. Teneo, the associated liquidator of the now-bankrupt hedge fund, told Cointelegraph that Zhu’s apprehension followed a committal bid from the Singapore Courts, which is simply a directive utilized to imprison idiosyncratic for contempt of court. On Sept. 25, Teneo secured this committal order, alleging that Zhu didn’t comply with a tribunal order. His apprehension is portion of an ongoing probe to retrieve funds for 3AC’s creditors. The $10 cardinal hedge money crashed successful 2022 owed to the illness of the Terra ecosystem. A akin committal bid was granted against Kyle Davies, besides co-founder of 3AC. His whereabouts stay unknown.

Binance urges users to person euros to USDT aft Paysafe debank

Binance has warned its European users to person their euro (EUR) balances to Tether by Oct. 31 owed to the nonaccomplishment of enactment from its banking partner, Paysafe. Paysafe ceased processing EUR deposits for Binance users connected Sept. 25. While EUR withdrawals to slope accounts stay available, Paysafe users won’t beryllium capable to prosecute successful EUR spot trading. Binance’s token swap feature, Binance Convert, volition besides restrict EUR transactions. Paysafe antecedently facilitated fiat deposits and withdrawals for Binance users successful Europe, including via slope transportation successful the European Union’s Single Euro Payments Area. The determination is the latest to adhd to Binance’s regulatory and debanking woes successful the West.

SEC delays spot Bitcoin ETF determination for BlackRock, Invesco and Bitwise

The U.S. Securities and Exchange Commission has again postponed its decision connected respective spot Bitcoin ETF applications, including those from BlackRock, Invesco, Bitwise and Valkyrie, up of a imaginable authorities shutdown. Bloomberg ETF expert James Seyffart anticipates akin delays for Fidelity, VanEck, and WisdomTree. These delays came 2 weeks earlier the applicants’ expected 2nd deadline. Seyffart links the premature delays to an anticipated U.S. authorities shutdown connected Oct. 1, which would interaction fiscal regulators and national agencies.

Winners and Losers

At the extremity of the week, Bitcoin (BTC) is astatine $26,895, Ether (ETH) astatine $1,667 and XRP astatine $0.53. The full marketplace headdress is astatine $1.07 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the apical 3 altcoin gainers of the week are Compound (COMP) at 23.71%, Chainlink (LINK) at 15.12% and THORchain (RUNE) at 14.51%. 

Most Memorable Quotations

“You [Gary Gensler] are kneecapping the U.S. superior markets with the avalanche of reddish portion coming retired of your commission.”

Andy Barr, U.S. representative

“A cardinal slope that introduces a CBDC should summation the choices for society, not diminish them.”

Agustín Carstens, wide manager astatine the Bank of International Settlements

“Looking similar the SEC is gonna fto a clump of #Ethereum futures ETFs spell adjacent week potentially.”

James Seyffart, expert astatine Bloomberg Intelligence

“Do you deliberation it’s imaginable for you [Gary Gensler] to service arsenic an impartial regulator and not favour ample fiscal intermediaries?”

Tom Emmer, U.S. representative

“[Stablecoins] volition beryllium a large operator of economical state successful the decennary ahead.”

Jesse Pollak, caput of protocols astatine Coinbase

“The symbiosis betwixt thoroughfare creation and Bitcoin is simply a almighty one. By moving together, these 2 movements assistance to make a much conscionable and equitable world.”

Street, pseudonymous co-founder of the Street Cy₿er creator collective

Prediction of the Week 

Bitcoin shorts support burning arsenic BTC terms seeks to clasp $27K

Bitcoin (BTC) bounced astir $27,000 connected Sept. 29 arsenic a situation to month-to-date highs dragged BTC terms enactment upward. Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency attempting to clasp gains aft a classical “short squeeze.”

The time anterior offered a travel past the $27,000 mark, with Bitcoin bulls incapable to seal a caller highest for September. Topping retired astatine $27,300 connected Bitstamp, BTC terms spot returned to consolidate, inactive up 4% versus the week’s debased astatine the clip of writing.

Analyzing the concern connected debased timeframes (LTFs), fashionable pseudonymous trader Skew said that the upside had travel courtesy of derivatives markets, with spot traders selling astatine the highs. “LTF worldly but beauteous wide spot absorption astir the precocious truthful $27.2K is an important terms country to wide for spot buyers,” helium explained connected X (formerly Twitter).

Skew subsequently noted that $27,200 remained a rejection constituent connected the day, up of the Wall Street open. Going into adjacent week, helium added, the marketplace was “likely to hunt some sides of the book.”

FUD of the Week 

Ben ‘BitBoy’ Armstrong arrested connected livestream implicit Lambo dispute

Crypto influencer Ben Armstrong, formerly known arsenic “BitBoy,” was arrested connected Sept. 25 portion livestreaming extracurricular a erstwhile concern associate’s house, claiming the subordinate had his Lamborghini. He was charged with “loitering/prowling” and “simple battle by placing different successful fear” and was held for implicit 8 hours earlier being released connected a $2,600 enslaved and $40 successful fees. In Georgia, the misdemeanor charges of loitering and prowling could effect successful a good of up to $1,000, up to 1 twelvemonth successful jail, oregon both.

Crypto speech claiming $1.4B trading measurement uses reportedly fake licence data

An probe by Cointelegraph revealed that respective cryptocurrency platforms, reporting important regular trades connected CoinMarketCap, whitethorn have provided misleading information astir their crypto licenses. Bitspay, for instance, which has a regular trading measurement of $1.4 cardinal connected CoinMarketCap and ranks arsenic the fourth-largest crypto exchange, claimed to beryllium licensed successful Estonia. However, aft inquiries by Cointelegraph, Bitspay rapidly removed the perchance mendacious licence information and nary longer provides details astir its registration oregon licensing.

Huobi Global hacked for $7.9M: Report

Huobi Global’s HTX crypto speech was hacked connected Sept. 24, according to a study from blockchain analytics level CyVers. A full of $7.9 cardinal of crypto has been drained successful the attack. A known Huobi blistery wallet posted a connection to the attacker successful Chinese. According to the message, the speech knows the individuality of the attacker and has offered to fto them support 5% of the drained funds arsenic a “white-hat bonus,” but lone if the attacker returns the remaining 95%. Binance CEO Changpeng “CZ” Zhao offered the assistance of the exchange’s information team successful investigating the attack.

Blockchain detectives: Mt. Gox illness saw commencement of Chainalysis

From solving Mt. Gox to tracing crypto utilized by kid maltreatment syndicates successful Korea, Chainalysis has a agelong but sometimes arguable history.

US gov’t messed up my $250K Bitcoin terms prediction: Tim Draper, Hall of Flame

Tim Draper’s archetypal large Bitcoin prediction came disconnected without a hitch, but helium says the existent medication is making his 2nd 1 look bad.

China dev fined 3 yrs’ wage for VPN use, 10M e-CNY airdrop: Asia Express

Chinese nationalist fined 3 years’ wage for utilizing VPN for distant work, Hangzhou airdrops 10M integer yuan, JPEX alleged Ponzi nears $200M, and more.