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Cypherpunk Times Monthly Roundup (October 2023 Edition)

October 2023 roundup of all things crypto and what’s happening in the cryptocurrency realm. What was your biggest news piece?

A monthly roundup of all things crypto and what’s happening in the cryptocurrency realm

  1. Coinbase granted full license in Singapore
Coinbase granted full license in Singapore
Coinbase, the crypto exchange operator, was granted a key license in Singapore.
The BlockRyan Weeks
  1. UBS taps Ethereum to pilot tokenized money market fund
UBS taps Ethereum to pilot tokenized money market fund
UBS Asset Management has launched its first ‘live pilot’ of a tokenized money market fund on the Ethereum blockchain.
The BlockYogita Khatri
  1. Digital asset investment products saw inflows last week for the first time in 6 weeks totalling $21m
Volume 151: Digital Asset Fund Flows Weekly Report
Recent US Government Quagmire and Treasure prices fuel inflows of US$21m
CoinShares BlogJames Butterfill
  1. Grayscale moves to convert its Ethereum trust to a spot ETH ETF
Grayscale Moves to Convert Its Ethereum Trust to a Spot ETH ETF
The company’s Ethereum trust is the largest ether investment product in the world with nearly $5 billion in AUM.
CoinDeskLyllah Ledesma
  1. Three Arrows co-founder Zhu Su arrested in Singapore, sentenced to 4 months’ prison

https://www.businesstimes.com.sg/startups-tech/three-arrows-co-founder-zhu-su-arrested-changi-airport-sentenced-4-months-prison,%20https://www.businesstimes.com.sg/startups-tech/three-arrows-co-founder-zhu-su-arrested-changi-airport-sentenced-4-months-prison

  1. Celsius seeks court approval to start repaying customers by year-end
Celsius seeks court approval to start repaying customers by year-end
The Celsius confirmation hearing began on October 2 as the firm seeks a New York judge’s approval of its restructuring plan.
CointelegraphMartin Young
  1. Jump Trading lost more than $200 million in FTX collapse: Going Infinite
Jump Trading lost more than $200 million in FTX collapse: Going Infinite
Jump Trading was near the top of a list of losses for entities not employed by FTX or Alameda, losing over $200 million.
The BlockJames Hunt
  1. Disappointing launch day for futures-based ETH ETFs, total trading volume: $1.96m
  1. Criminal trial date set for September 17 of 2024 for former Celsius CEO Mashinsky
Criminal trial date set for next year for former Celsius CEO Mashinsky: Bloomberg News
A criminal trial for Alex Mashinsky, the former CEO of Celsius, is set to start in almost exactly a year, according to Bloomberg News.
The BlockSarah Wynn
  1. Judge rejects SEC motion to appeal Ripple ruling

https://www.courtlistener.com/docket/19857399/securities-and-exchange-commission-v-ripple-labs-inc/?order_by=desc#entry-917

  1. BTC cumulative volume delta (CVD) on Coinbase turned sharply positive over the past few days, indicating strong market buying
  1. Ripple obtains digital asset license from Monetary Authority of Singapore
Ripple obtains digital asset license from Monetary Authority of Singapore
The Major Payments Institution license lets Ripple offer regulated digital asset payment services in the country.
The BlockMK Manoylov
  1. Hong Kong crypto venture capital firm CMCC Global launches $100 million fund amid industry slump
Exclusive: Hong Kong crypto venture capital firm CMCC Global launches US$100 million fund
CMCC Global, a Hong Kong-based venture capital firm, has raised US$100 million for a new fund aimed at backing Asian blockchain start-ups amid Hong Kong’s virtual asset push, despite the recent JPEX scandal.
South China Morning PostXinmei Shen
  1. Key takeaways from opening statements in Sam Bankman-Fried's trial over the collapse of FTX
Here Are the Key Takeaways From Sam Bankman-Fried Trial’s Opening Statements
Here are the key takeaways from the opening statements in Sam Bankman-Fried’s trial over the collapse of FTX on Wednesday.
BloombergHannah Miller
  1. Since January 2023, Foundry and Antpool have collectively controlled north of 50% of Bitcoin’s hashrate, posing ever-greater centralization risk. Though Foundry’s dominance has softened to 29% from the high of 34% in February, Antpool is inching forward, gaining 5% share over the same period to reach 23%
Coin Metrics’ State of the Network: Issue 226
State of the Network’s Q3 2023 Mining Data Special
Coin Metrics' State of the NetworkKyle Waters
  1. Firms launch El Salvador’s first Bitcoin mining pool tapping geothermal energy
Firms launch El Salvador’s first Bitcoin mining pool tapping geothermal energy
Volcano Energy and Luxor Technology have launched Lava Pool, a Bitcoin mining pool leveraging El Salvador’s renewable geothermal energy.
The BlockJames Hunt
  1. Digital asset investment products saw inflows for the second week totalling $78m, while trading volumes for ETPs also rose by 37% to $1.13bn for the week
Volume 152: Digital Asset Fund Flows Weekly Report
Largest inflows since July, totalling US$78m
CoinShares BlogJames Butterfill
  1. Bitstamp is in talks with several big European banks about offering cryptocurrency services
Bitstamp Courts European Banks as Region’s Incoming Crypto Rules Boost Confidence
The longest-running crypto exchange says three European banks are in talks about offering crypto services – a stark contrast to the U.S., where firms are wary amid a regulatory crackdown.
CoinDeskIan Allison
  1. Caroline Ellison says Bankman-Fried directed her to commit crimes
  1. Crypto VC activity continued to decline in Q3, with capital invested and deal count now at their lowest points since Q4 2020
  1. Crypto exchange WOO to buy back shares from 3AC to ‘clear uncertainty’
Crypto exchange WOO to buy back shares from 3AC to ‘clear uncertainty’
WOO said today that it will repurchase the shares and tokens acquired in 2021 by the failed crypto hedge fund.
The BlockTimmy Shen
  1. JPMorgan's blockchain-based collateral settlement application goes live: Bloomberg
JPMorgan’s blockchain-based collateral settlement application goes live
JPMorgan’s Tokenized Collateral Network (TCN) has gone live by completing its first transaction involving the clients BlackRock and Barclays.
The BlockYogita Khatri
  1. Options volumes as a % of overall derivatives market keeps growing. The 7 day moving average reached 3% of the overall derivatives total market activity, a new all time high
  1. Bitcoin long-term balances as a percent of total supply reached their highest since 2010
  1. Transactions on the Lightning Network have increased by more than 1212% in 2 years
  1. While BTC 60-day correlation with risk assets has been moving upwards, it is way below its 2022 average of over 50%. In fact, BTC showed remarkable resilience to surging borrowing costs and growing macro uncertainty in September, outperforming the S&P 500 and the Nasdaq 100.
  1. Australia proposes crypto exchange regulation with existing laws
Australia proposes crypto exchange regulation with existing laws
The Australian Treasury said that it plans to require platforms that hold a certain threshold of crypto assets to obtain a license.
The BlockTimmy Shen
  1. Digital asset investment products saw inflows for the 3rd consecutive week totalling $15m, although trading volumes remain 27% below the 2023 average
Volume 153: Digital Asset Fund Flows Weekly Report
Sentiment steadily improving, with another week of inflows
CoinShares BlogJames Butterfill
  1. Blackrock/iShares Bitcoin spot ETF application is still under review: BlackRock via FoxBusiness
  1. Binance to stop accepting new U.K. users to comply with ad rules
Binance to Stop Accepting New U.K. Users to Comply With Ad Rules
The firm will stop accepting new users starting Monday after U.K. regulator FCA last week restricted Binance’s local partner from approving crypto ads.
CoinDeskCamomile Shumba
  1. FTX settles customer property disputes to speed up bankruptcy proceedings, plans to return 90% of estate funds
FTX settles customer property disputes to speed up bankruptcy proceedings
FTX said customers may get over 90% of distributable value worldwide in a shortfall claim if the amended plan is approved by Q2 in 2024.
The BlockTimmy Shen
  1. New York attorney general hits Gemini, Genesis, and Digital Currency Group with lawsuit for defrauding investors of more than $1 billion
New York attorney general hits Gemini, Genesis, and Digital Currency Group with lawsuit for defrauding investors of more than $1 billion
Letitia James’s action adds to the legal headaches for the reeling crypto heavyweights.
FortuneLeo Schwartz
  1. Grayscale submits new filing to SEC in attempt for spot Bitcoin ETF approval following pivotal court ruling
Grayscale submits new filing to SEC in attempt for spot bitcoin ETF approval following pivotal court ruling
Grayscale filed a new registration statement with the SEC in its ongoing attempt to convert GBTC into a spot bitcoin ETF.
The BlockSarah Wynn
  1. US Treasury plans to designate international crypto mixers as money-laundering hubs: WSJ
US Treasury plans to designate international crypto mixers as money-laundering hubs: WSJ
The Treasury Department is planning to designate international mixers as money-laundering hubs, according to The Wall Street Journal.
The BlockSarah Wynn
  1. Upcoming Bitcoin spot ETF decisions. Bloomberg Intelligence estimates a 90% chance approval by Jan 10
  1. Tether will publish reserve data in real time in 2024
Tether Aims to Publish Reserve Data in Real-Time in Coming Years: Report
Tether had a $3.3 billion excess in reserves at the end of Q2.
CoinDeskOliver Knight
  1. Digital asset investment products saw inflows for the 4th consecutive week totalling $66m. Total AuM has now risen to $33bn
Volume 154: Digital Asset Fund Flows Weekly Report
Anticipation of a spot Bitcoin ETF prompts further inflows
CoinShares BlogJames Butterfill
  1. PetroChina completes first international crude oil trade in Digital Yuan: report
PetroChina Completes First International Crude Oil Trade in Digital Yuan: Report
PetroChina bought 1 million barrels of crude oil settled in e-CNY at the Shanghai Petroleum and Natural Gas Exchange
CoinDeskJamie Crawley
  1. Grayscale court ruling sends Bitcoin ETF approval back to SEC
  1. North America’s crypto market is more driven by institutional activity than any other region’s with a whopping 76.9% of transaction volume driven by transfers of $1 million or more. The region’s on-chain activity is split relatively evenly between DeFi and centralized exchanges
North America cryptocurrency activity analyzed
North America is the world’s biggest crypto economy by transaction volume. Learn how regional market and regulatory trends impact adoption.
ChainalysisChainalysis Team
  1. Grayscale launches crypto indices product with FTSE Russell
Grayscale launches crypto indices product with FTSE Russell
Grayscale Investments, a crypto asset management company, is venturing into the crypto indices business with indices provider FTSE Russell.
The BlockAnna Baydakova
  1. Euroclear settles World Bank blockchain bond
Euroclear settles World Bank blockchain bond
Euroclear has settled its first digital note, a World Bank issuance on the Luxembourg Stock Exchange that raised 100 million euros ($106 million) for sustainable development activities.
ReutersHuw Jones
  1. BlackRock’s iShares Bitcoin Trust IBTC has been removed from DTCC's list
  1. FTX is negotiating with three bidders to restart crypto exchange, firm expected to decide fate of exchange in December
FTX Is Negotiating With Three Bidders to Restart Crypto Exchange
FTX Trading Ltd. is considering proposals from three bidders to restart trading on what had been one of the world’s biggest crypto exchanges before the company sank into bankruptcy amid fraud allegations.
BloombergSteven Church
  1. Bitfinex Securities announces tokenized bond
Bitfinex Securities announces tokenized bond
Securities are financial instruments that can be traded and converted into other currencies in both public and private markets.
CointelegraphPrashant Jha
  1. Bankman-Fried lawyer says client will take stand
  1. UK lawmakers pass bill to help seize illicit crypto
UK Bill for Seizing Illicit Crypto Finally Becomes Law
The bill lets law enforcement freeze crypto without a conviction, promising faster and more substantial seizures.
CoinDeskCamomile Shumba
  1. Kraken to share user data with IRS next month following June court order
Kraken to share user data with IRS next month following June court order
Crypto exchange Kraken will share user information with the Internal Revenue Service next month after receiving a court order in June.
The BlockYogita Khatri
  1. Gemini sues Genesis over $1.6 billion of Bitcoin Trust shares
Gemini Sues Genesis Over $1.6 Billion of Bitcoin Trust Shares
Crypto platform Gemini Trust Co. is suing bankrupt crypto lender Genesis Global Holdco LLC in an attempt to determine who rightfully owns a slug of shares in the Grayscale Bitcoin Trust now worth nearly $1.6 billion.
BloombergAmelia Pollard
  1. Crypto delistings from exchanges are already running at a record pace this year
Crypto Delistings From Exchanges Are Already Running at a Record Pace This Year
Even as Bitcoin stages an astonishing resurgence, a record amount of digital tokens are being delisted this year from exchanges such as Coinbase Global Inc. and Binance.
BloombergOlga Kharif

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