Daily Report | The US will release the September CPI data at 8:30 PM tonight; Peter Todd: Being mistakenly identified as "Satoshi Nakamoto" by HBO poses safety risks for me, and I have not yet decided whether to sue; South Korean financial regulators may lift the ban on spot cryptocurrency ETFs
October 10 News OverviewOrganizer: Luan Peng, ChainCatcher
Important News:
- Preview: The U.S. will release the September CPI data at 8:30 PM tonight
- Mt.Gox extends the compensation deadline by one year to October 31, 2025
- Peter Todd: Being mistakenly identified as "Satoshi Nakamoto" by HBO poses security risks, undecided on whether to sue
- Bloomberg analysts expect Bitcoin ETF options to launch in Q1 2025
- Chairman of the South Korean Financial Commission: Will review the monopoly phenomenon 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 the ban on spot cryptocurrency ETFs
"What important events happened in the past 24 hours"
Preview: The U.S. will release the September CPI data at 8:30 PM tonight
According to Wall Street News, the U.S. will release the September CPI data at 8:30 PM tonight.
It is reported that the U.S. August CPI rose by 2.5% year-on-year, and the August core CPI (excluding volatile food and energy costs) rose by 3.2% year-on-year.
Mt.Gox extends the compensation deadline by one year to October 31, 2025
Mt.Gox's official announcement today states that the bankruptcy administrator has basically completed compensation 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 received it; additionally, due to various issues during the repayment process, a considerable number of bankruptcy creditors have temporarily not received repayment. To reasonably compensate these bankruptcy creditors as much as possible, the bankruptcy administrator, after obtaining 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 over 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 analysts expect 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 and 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 delay further if they wish."
Chairman of the South Korean Financial Commission Kim Byung-hwan stated that they will review the monopoly phenomenon in the virtual asset market centered around Upbit. During a national governance inspection by the National Assembly's Administrative Committee, Kim responded to lawmakers' inquiries about Upbit's monopoly structure, indicating 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, with Upbit's deposits reaching 4 trillion won, accounting for as much as 20%. If Upbit's trading is interrupted, K Bank could face a run."
Members of a darknet drug trafficking group in Texas have been sentenced for cryptocurrency money laundering, with six members receiving sentences ranging from probation to 84 months in prison. The gang 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 the 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, serving as the lead representative for the 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 breaches 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 the 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 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 had 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 prohibited from opening trading accounts on cryptocurrency exchanges. This policy adjustment may open new avenues 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 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 their partnership is interrupted, it could trigger a run.
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 Harris's probability of winning has dropped to 45.3%.
"What are the noteworthy articles to read 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 the attention of 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 of uppercase and lowercase letters for 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, and Vitalik sold the gifted MEME coins on-chain twice, publicly expressing gratitude to the MEME project, which led to the zoo coin Hippo MOODENG experiencing a nearly hundredfold increase in a short time, attracting investors to flock in, hoping to capture the birth of the next hundredfold MEME coin.
However, unlike previous meme coin speculation, which was irregular and wildly fluctuating, this round of meme coin speculation mainly revolves around: the uppercase and lowercase letter naming dispute, donations to Vitalik and Vitalik selling coins to pump, and the revival of Cult (satirical culture) MEME coins.
Today, the centralized open-source AI platform OpenGradient announced the completion of $8.5 million in seed funding. Investors include a16z Crypto Startup Accelerator, Foresight Ventures, SV Angel, Coinbase Ventures, SALT Fund, and Symbolic Capital. Notable industry figures such as angel investor Balaji Srinivasan, NEAR founder Illia Polosukhin, and Polygon founder Sandeep Nailwal also participated as angel investors.
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. OpenGradient's testnet is expected to open to developers in Q4 2024.
In early September, OpenGradient was also selected for a16z Crypto's fall crypto 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, gaining firsthand experience from top crypto founders, guidance and support from the a16z crypto investment and operations team, and networking 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 inference, and application deployment. OpenGradient's new heterogeneous AI computing architecture (HACA) enables permissionless AI inference, 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. cryptocurrency enforcement actions, based on official announcements from January 1, 2019, to October 9, 2024, examining the monetary value of settlements reached between cryptocurrency 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 guy in the picture above------long hair, big beard, glasses, and a full rock vibe.
His name is Murad Mahmudov, who was not considered a crypto KOL before, but has recently jumped to become the meme call king amid intense analysis and commentary from foreign media.
What made him famous was his speech "Meme Coin Super Cycle" at this year's 2049 conference in Singapore, which has garnered 1.76 million views as of the time of writing.
If you haven't heard of this guy yet, you might want to watch this video, where you'll find him using extremely formal theories, detailed data, and overflowing determination to market meme coins to you, with his insightful remarks full of emotional value, reminiscent of the saying "speak boldly or die":
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 flash in the pan or has the bottom already been established? 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.
