Caroline Ellison speaks on FTX-Binance war: Hodler’s Digest, Oct.

This week’s top stories

Caroline Ellison wanted to resign, but feared mounting at FTX

Former Alameda Research CEO Caroline Ellison testified for more than 10 hours this week at Sam Bankman Freed’s trial about events that anticipated the November 2022 FTX debacle. Provided more detailed information. Jurors learned from Ellison’s testimony that she intended to leave Alameda. Months before the collapse, she was concerned about a run on FTX amid the crypto market downturn. The same week also featured recordings presented as evidence in the lawsuit showing the moment Ellison spoke to her employees about Alameda’s use of FTX customer deposits. Among the key moments of the Bankman Fried trial were the revelation of falsified balance sheets to defraud crypto lenders and testimony from BlockFi CEO Zach Prince. Check out this week’s highlights from Cointelegraph’s on-the-ground team.

In the months before the collapse of cryptocurrency exchange FTX, former CEO Sam Bankman Fried bought shares in Snapchat and received money from Saudi Arabia’s royal family, according to evidence presented in court. He was “distraught” about raising funds and asking regulators to crack down on rival cryptocurrency exchange Binance. They are held weekly as part of an ongoing criminal trial. Bankman Freed believed that Binance leaked Alameda’s balance sheet to the media in 2022. In a Nov. 6, 2022 document, Bankman Freed wrote that Binance was “running a PR campaign against our company.” Additionally, Binance “leaked its balance sheet. I blogged about it. It provided it to Coindesk. It then sold $500 million in FTT in response while telling customers to be careful with FTX.” Then it was announced in a big way.”

SEC reportedly won’t appeal court ruling against Grayscale Bitcoin ETF

The U.S. Securities and Exchange Commission reportedly has no plans to appeal a recent court ruling in favor of Grayscale Investments. The ruling requires the SEC to review the company’s Spot Bitcoin exchange-traded fund (ETF) application. Although the SEC has reportedly decided not to appeal, that does not necessarily mean that Grayscale’s application will be approved. If the reports are true, the SEC will be required to review Grayscale’s application to transform the Grayscale Bitcoin Trust into a spot Bitcoin ETF, pursuant to an August court order.

Terraform Labs claims Citadel Securities was involved in stablecoin collapse

Terraform Labs has again accused market maker Citadel Securities of its role in an alleged “concerted and deliberate effort” to cause the depegging of its TerraUSD stablecoin in 2022. On October 10, Terraform Labs filed the following complaint with the United States: In May 2022, when TerraUSD Classic was depegged, it forced Citadel Securities to submit documentation regarding its trading activities. Terraform said in its complaint that the document was used in defense of a lawsuit filed by the U.S. Securities and Exchange Commission in February alleging that Terraform Labs and its founder Do Kwon were “involved in raising billions of dollars.” argued that it was extremely important to do so. Cryptocurrency securities fraud. ” However, Citadel Securities previously denied trading the TerraUSD stablecoin in May 2022.

Mastercard Announces Successful Results of Wrapped CBDC Examination

Mastercard has completed trials that involve wrapping central bank digital currencies (CBDCs) onto various blockchains, similar to wrapped Bitcoin and wrapped Ether. The trial was conducted in collaboration with the Reserve Bank of Australia and the country’s Digital Finance Cooperation Research Center CBDC. Mastercard said the solution will enable CBDC holders to purchase non-fungible tokens (NFTs) listed on Ethereum. “This process resulted in the required amount of Pilot CBDC being ‘locked’ into RBA’s Pilot CBDC platform and the same amount of wrapped Pilot CBDC tokens being minted on Ethereum,” the payment processor wrote.

winners and losers

Bitcoin on the weekend (BTC) It is located in $26,892,ether (Ethereum) in $1,551 and XRP in $0.48.The total market capitalization is $1.05 Trillion, according to Go to Coin Market Cap.

Among the top 100 cryptocurrencies, this week’s top 3 altcoins are Loom Network (loom) 86.71%, Trust Wallet Token (TWT) 16.72% and Tether Gold (XAUt) It was 5.16%.

This week’s top 3 altcoin losses are Mantle (MNT) -17.27%, Rocket Pool (RPL) -14.39% and an avalanche (Avax) It was -13.39%.

For more information on cryptocurrency prices, be sure to read Cointelegraph’s market analysis.

most memorable quotes

“Actually, that’s our challenge: to thoroughly educate people about the benefits of using blockchain.”

grace savandalCo-founder of Indonesian Blockchain and Metaverse Center

“Currently, crypto asset markets, including DeFi, do not present a significant risk to financial stability.”

European Securities and Markets Authority

The price of Ether, Ethereum’s native token, is is trading near a 15-month low against Bitcoin and the lowest since Ethereum switched to proof-of-stake. The ETH/BTC pair fell to 0.056 BTC earlier this week. In doing so, the pair fell below the 200-week exponential moving average (200-week EMA, blue wave) around 0.058BTC, further increasing downside risk heading into 2023.

The 200-week EMA has historically served as a reliable support level for ETH/BTC bulls.

ETH/BTC faces similar downside risks in 2023 after losing its 200-week EMA as support. In this case, the next downside price target would be around the 0.5 Fibonacci line around 0.051 BTC in 2023, which would be about a 9.5% decline from the current price level.

Conversely, if ETH price regains the 200-week EMA as support, it could rebound towards the 50-week EMA (red wave) around 0.065BTC.

This week’s FUD

Is it a mistake or money laundering?User pays $1.6 million for CrypToadz NFT

One CrypToadz NFT has an average price of no more than $1,000. was purchased for 1,055 wrapped Ether, worth $1.6 million. The CrypToadz collection was launched during the 2021 NFT boom and exceeded the trading volume of $38 million worth of Ether in its first 10 days on the market. The price paid by anonymous users for NFTs has raised questions among the community. Two weeks ago, this item was purchased for 0.95 ETH (approximately $1,600), but has since been sold for 1,000x the price.

USDR stablecoin pegged at $0.53, but team vows to provide solution

The real estate-backed stablecoin USDR lost its peg to the US dollar after liquid assets such as Dai flowed out of the national treasury due to a rush of redemptions. USDR is backed by a combination of cryptocurrencies and real estate holdings and is issued by Tangible Protocol, a decentralized finance project that aims to tokenize homes and other real-world assets. During the crisis, a trader reportedly exchanged 131,350 USDR for 0 USD coins, resulting in a complete loss on his investment.

HTX recovers $8 million in stolen funds and issues 250 ETH bounty to hackers

Huobi Global’s cryptocurrency exchange HTX confirmed the return of funds stolen by hackers in late September and issued a 250 Ether bounty after the issue was resolved. On September 25th, 5,000 ETH (worth approximately $8 million at the time) was leaked from one of HTX’s hot wallets. Immediately after the hack occurred, the company contacted the hackers and claimed to know their identities. HTX ultimately offered a 5% bounty, worth about $400,000, and no legal action if they returned 95% of the funds by an October 2 deadline.

Beyond cryptocurrencies: Zero-knowledge proofs show promise from voting to finance

New cryptographic techniques have the potential to serve two great needs of the 21st century: privacy and truth.

SBF allegedly bribed Chinese authorities $150 million to unfreeze accounts, Binance justifies blocking Hamas users, while Huobi hackers fully refund $8 million in stolen assets did.

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editorial staff

Cointelegraph Magazine writers and reporters contributed to this article.