Ah, comrades, behold Bitcoin’s wild dance in the Asian dawn-leaping from $122,000 to $124,289 in mere minutes, teasing that August high of $124,429 like a siren’s song. But alas, it faltered, just as the downtrodden often do against the mighty currents of capital.
On October 3rd, Coinbase Inc. (Nasdaq: COIN) revealed its latest masterstroke-an application to the esteemed Office of the Comptroller of the Currency (OCC) for a National Trust Company Charter. One can only imagine the excitement at the idea of broadening its custody business and basking in the glow of clearer regulatory oversight. After all, what’s innovation without a little regulatory “clarity” to keep it on a leash? 📜
In a rather thrilling twist, BitDigital_BTBT took to social media, proclaiming its historic achievement-the first entity of its kind to dally with unsecured leverage through a convertible notes offering. A momentous occasion indeed! 🎉 This milestone is not merely a feather in its cap but a veritable gold medal in the Olympics of blockchain finance, promising to shower blessings upon company shareholders as if they were at an abundant harvest feast!
The disgraced founder of FTX, Mr. Sam Bankman-Fried, observes that his gravest mistake consisted in handing the reins of the crypto exchange to the new Chief Executive, Mr. John J. Ray III, ere the company proclaimed its bankruptcy in November of 2022.
This week, everyone found themselves nodding earnestly at Solana’s role in tokenized markets, after Hougan proclaimed it “the new Wall Street.” Spoiler alert: It’s still not located on actual Wall Street, but who needs geography when you’re dreaming big?
It appears, from various whispers and half-heard conversations, that OnePay has partnered with Zerohash-an establishment that specializes in custody and settlement services for digital assets. This, of course, suggests that OnePay shall rely on the support of external infrastructure rather than attempt the Herculean task of building everything from scratch. A wise decision, no doubt. For as we know, even the most splendid of empires require assistance now and again. 🏰
If you thought Ethereum was gonna coast through the week like it’s on a beach vacation, think again. The daily chart is sending mixed signals-like a bad first date. We’ve got a V-shaped rebound from $3,820, which is cute, but high volume there? Probably just institutional wallets circling like vultures. 🦅💰
Ah, the world of crypto-where even token sales feel like blockbuster movie deals. Enter World Liberty Financial (WLFI), a Trump-affiliated crypto project, flaunting its latest stunt: a $0.25 token sale to Hut8. Yes, you heard that right-locked tokens, no dilution, no new issues, just pure financial wizardry. And guess who’s at the table? None other than Hut8, North America’s mining mogul. It’s a deal that smells like growth for WLFI, but also reeks of corporate strategy at its finest.
According to Glassnode, last week’s record options expiry cleared out a gee-golly backlog of contracts, effectively “resetting” open interest. With the chalk wiped clean, new positions show traders ditching downside hedges and leaping into upside bravado as Q4 begins.
In their October 3 announcement, Coinbase called the NTC a “natural extension” of their custody business. 🥱 Sure, because what’s more natural than holding billions in assets and then saying, “Hey, let’s do banking too!” Genius. Or chaos. Potato, potahto.
