LianGuai Daily | Bitcoin temporarily stabilizes above $28,000; FTX founder SBF’s trial will begin tomorrow, with jury selection on the first day.

LianGuai Daily | Bitcoin stabilizes above $28,000; FTX founder SBF's trial begins tomorrow with jury selection.

Today’s headlines:

Coinbase obtains major payment license in Singapore

Crypto investment firm Deus X Capital announced its establishment and claimed to have accumulated $1 billion in investment assets and capital

“The Big Short” author: SBF once considered donating $5 billion to Trump to make him give up running for president

• Analysis Why will the bull market start as early as next year from the perspective of the halving period?
• Wu’s Selection Zhu Su of Three Arrows suddenly arrested, Binance exits Russia, Mixin hacked for 200 million, MicroStrategy continues to buy BTC, and Top 10 news.
• Hong Kong Securities and Futures Commission discloses regulatory list, which crypto company has the highest risk?

The trial of FTX founder SBF will begin tomorrow, and the first day will involve jury selection

Market: Bitcoin breaks through $28,000

CertiK: 184 security incidents occurred in the third quarter, resulting in nearly $700 million in losses

5 crypto projects will unlock tokens this week, with a total value of over $35 million

Grayscale applies to convert its Ethereum Trust Fund into a spot ETF

NFT

Project Updates

Coinbase obtains major payment license in Singapore

Coinbase Singapore has obtained the Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore. Coinbase will develop and release products tailored specifically for Singapore and will carry out training and recruitment plans at its Singapore Tech Hub. Earlier reports indicated that Coinbase is committed to expanding its range of services for Singaporean customers. In March of this year, Coinbase opened up local bank transfer services to Singaporean users free of charge.

Grayscale applies to convert its Ethereum Trust Fund into a spot ETF

Grayscale Investments and NYSE Arca have jointly applied to convert Grayscale’s Ethereum Trust Fund into an Ethereum spot exchange-traded fund (ETF). The filing was made after the US Securities and Exchange Commission (SEC) approved the first batch of Ethereum futures ETFs.

Crypto investment firm Deus X Capital announced its establishment and claimed to have accumulated $1 billion in investment assets and capital

A new cryptocurrency-focused investment firm called Deus X Capital announced its establishment today, with Tim Grant, former Head of Galaxy Europe, Middle East, and Africa, serving as CEO. Deus X stated in its announcement that it has accumulated $1 billion in investment assets and capital, with its existing portfolio including wholly-owned subsidiaries Netrios and Hilbert Group, shares of Galaxy, as well as investments in SEBA, HAYVN, and Cryptochill. It has also allocated funds to hedge funds in this field, with specific amounts not disclosed at this time.

GSR Markets Receives Regulatory Approval from the Monetary Authority of Singapore

Cryptocurrency trading firm and liquidity provider GSR announced today that its Singapore subsidiary, GSR Markets, has received provisional approval from the Monetary Authority of Singapore (MAS) for a major payment institution license.

171st Ethereum ACDE Meeting: Devnet-9 Release Delayed Again, Devnet-10 to be Launched for Dencun Upgrade

Christine Kim, Vice President of Research at Galaxy, summarized the 171st Ethereum All Core Developers’ Execution (ACDE) conference call. The release of Devnet-9 for Dencun testing has been delayed again. Developers also mentioned that after the release of Devnet-9, a 10th Devnet will be launched for the Dencun upgrade, which will have a relatively short lifecycle. Developers will also test validator workflows to capture MEV using MEV-Boost software on Devnet-9 and 10.

Trial of SBF

“The Big Short” Author: SBF Considered Donating $5 Billion to Trump to Drop Presidential Campaign

Michael Lewis, author of “The Big Short,” revealed in an interview that SBF considered paying $5 billion to Trump to drop his presidential campaign. SBF also investigated the legality of this transaction. It is known that SBF has been actively involved in political donations, with federal prosecutors investigating his donations to both Democratic and Republican lawmakers. If convicted on all charges, SBF could face up to 100 years in prison.

Trial of FTX Founder SBF to Begin Tomorrow, Jury Selection to Take Place on the First Day

The trial of Sam Bankman-Fried, founder of FTX, will begin tomorrow, with the first day dedicated to jury selection, a process that may last for several days. Michael Popok, Managing Partner of ZumLianGuaino LianGuaitricios law firm, stated that the court will first assemble a small group of 20 to 30 potential jurors, which will then be reduced to about 9 jurors, along with several alternate jurors. Both sides can challenge the selection of certain jurors, and jurors may be disqualified for various reasons.

Popok said, “By the end of Friday, they expect the jury to be seated, which means they will be ready to deliberate.” Only after this, the court will hear opening statements and subsequent arguments from the prosecution and defense.

Over the next six weeks, U.S. prosecutors will seek to prove that SBF intentionally deceived clients and business partners, presenting thousands of pages of evidence, including internal documents and audio recordings. The strongest evidence may come from the recollections and personal opinions of SBF’s former colleagues, friends, and roommates. Prosecutors also stated their plans to subpoena FTX customers and investors, including non-U.S. clients, during the trial.

U.S. Judge Bars SBF from Blaming FTX’s Collapse on Lawyers in Opening Statements

Court documents show that U.S. District Court Judge Lewis A. Kaplan stated on Sunday that SBF cannot blame FTX’s collapse on his lawyers in opening statements, although he may later attempt what is known as a “lawyer advice” defense.

Prior to this, the SBF defense team claimed that FTX lawyers were “involved” in certain decisions of the company. However, Judge Kaplan stated that such vague statements without specific details might confuse or bias the jury.

Although the judge prevented the SBF defense team from mentioning external lawyers in their opening statement, if SBF’s lawyers notify the judge and the Department of Justice in advance and the jury is not present, they can try to raise this issue later.

Key Data

CoinShares: Digital asset investment products saw first inflow in six weeks, totaling $21 million

According to the CoinShares report, digital asset investment products saw the first inflow in six weeks, totaling $21 million. Bitcoin investment products had a net inflow of $20.4 million this week, accounting for the majority of the inflow, while short-term bitcoin outflows continued, reaching $1.5 million last week, bringing the outflow since April to $85 million. In addition, Solana performed well with a fund inflow of $5 million, marking the 27th week of inflow this year and only the fourth week of outflow. Ethereum had its seventh consecutive week of fund outflows, totaling $1.5 million.

Market: Bitcoin breaks $28,000

Data: Crypto market raised $505 million in September 2023, a 72.6% YoY decrease

According to RootData, the crypto market raised $505 million in September 2023, a 72.6% YoY decrease compared to September 2022 ($1.848 billion), and a 24.5% MoM decrease compared to August 2023 ($669 million). In addition, there were 77 funding deals in September, a 44.2% YoY decrease.

CertiK: 184 security incidents occurred in the third quarter, resulting in nearly $700 million in losses

According to a report by blockchain security company CertiK, a total of 184 security incidents occurred in the third quarter of this year, resulting in nearly $700 million in losses, exceeding the $320 million in the first quarter and $313 million in the second quarter, making it the “most financially devastating” quarter of the year.

Data: 5 crypto projects will unlock tokens this week, releasing a total value of over $35 million

According to Token Unlocks data, 5 projects will unlock tokens this week, releasing a total value of over $35 million.

Sui (SUI) will unlock 34.62 million tokens (approximately $17.33 million) at 8:00 AM on October 3, accounting for 4.02% of the circulating supply;

dYdX (DYDX) will unlock 2.16 million tokens (approximately $4.42 million) at 11:00 PM on October 3, accounting for 1.23% of the circulating supply;

Nym (NYM) will unlock 12.5 million tokens (approximately $1.41 million) at 8:00 AM on October 6, accounting for 2.26% of the circulating supply;

ImmutableX (IMX) will unlock 18.08 million tokens (approximately $11.06 million) at 6:00 PM on October 7, accounting for 1.55% of the circulating supply;

Hashflow (HFT) will unlock 3.23 million tokens (equivalent to $1.14 million) at 8:00 on October 7th, accounting for 1.84% of the circulating supply.

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