After the slumpy September ended last Tuesday, October arrived proudly as usual, with its glowing, optimistic face. As before, October has promised its typical Uptober vibe. The crypto market is now gaining health with Bitcoin dancing at $125,300, and other major coins following suit, at the time of reporting. However, crypto news went slightly shaky, though not as much as expected, due to the temporary US government shutdown.
Strap on your backpack and wear your trekking shoes as you journey to the top to recall last week’s top crypto news stories.
SBF calls FTX leadership handoff his biggest mistake
Sam Bankman-Fried (SBF), the founder of the bankrupt crypto exchange FTX, said in an interview that handing over the control of his company to John J. Ray before its collapse was the biggest mistake he had made so far.
Bitmine holds $11.9 billion worth of Ethereum
BitMine Immersion Technologies, an Ethereum treasury strategy-focused company, revealed that it holds $11.9 billion worth of Ethereum, making it the world’s largest publicly traded Ethereum treasury firm.
US government shutdown, but crypto remains largely unaffected
Congress failed to pass appropriate legislation due to a sharp partisan standoff over budget priorities, resulting in the temporary suspension of U.S. government services. Although some crypto-related activities were reported to have halted, the shutdown did not affect coin prices.
96% chance of October rate cut
Traders are almost certain that the US Fed will cut interest rates this month, with odds now at 96.2%.
UK to scrap crypto ETN ban for retail investors
The UK’s Financial Conduct Authority (FCA) is expected to lift its ban on crypto exchange-traded notes (ETNs) for retail investors within the coming days.
World Liberty Financial eyes debit card launch
The Trump family-linked crypto venture — World Liberty Financial (WLFI) — will roll out a debit card set to go live next year.
Apart from these dramatic moves, the crypto industry witnessed other major developments: Walmart-backed fintech OnePay plans to launch crypto trading and custody services, WLFI is preparing to tokenize assets, and Samsung has partnered with Coinbase to integrate crypto access into Galaxy phones.
And now that you have known the top news, it is time to wrap up and trek back down the mountain! Last week’s crypto world has been a mix of steady climbs and surprising turns from shutdowns to market recoveries. Rest up now — let’s climb higher next week.
