Welcome to a different version of Crypto NFT Today! The previous two weeks have been stuffed with must-know occasions that’ll be defining factors for the way forward for blockchain, cryptocurrency, and NFTs.
With Caroline Ellison being sentenced to 2 years in jail, Asian Bitcoin markets getting larger, and extra, there’s plenty of important information you must find out about. So, let’s dive in and see what’s taking place!
Caroline Ellison Sentenced to Two Years in Jail
Caroline Ellison, a key witness within the prosecution of her ex-boyfriend, FTX founder Sam Bankman-Fried, was (*4*) on Tuesday by a New York federal court docket. She was additionally ordered to forfeit $11 billion for her involvement within the fraud and conspiracy that led to the collapse of the crypto change, as soon as valued at $32 billion.
The sentence was a lot harsher than the federal Probation Division’s suggestion, which had steered three years of supervised launch with out jail time. Ellison, who beforehand headed the hedge fund Alameda Analysis, had additionally sought a no-prison sentence from her protection crew.
Asian Bitcoin Markets Get Larger
Bitcoin (BTC) is as soon as once more approaching the $65,000 mark, a stage it hasn’t reached since early August. A key issue that might drive this surge is a speech from Federal Reserve Chair Jerome Powell later at the moment.
Final week, the Fed initiated its first spherical of charge cuts, boosting danger property like Bitcoin. In keeping with the CME FedWatch Device, merchants are actually anticipating a 62% probability of one other 50-basis-point charge discount in November, which may additional gasoline Bitcoin’s rise.
Harris Administration Predicted to Profit Crypto Business
Harris lately said her help for digital property, promising to “encourage revolutionary applied sciences” whereas defending shoppers. These feedback got here after the formation of the Crypto4Harris motion, which advocates for a “reset” of digital asset coverage. Though her statements are extra modest than Trump’s shift to help, they mirror a proactive stance towards the crypto sector, in line with supporters.
Quarter 3 Losses in Crypto From Hackers Reported
Hackers stole $409 million in cryptocurrency in the course of the third quarter, together with a further $3 million misplaced to fraud, in line with a report by Immunefi. This determine is a 40% lower in comparison with the identical interval in 2023.
Immunefi famous that the substantial capital locked in decentralized finance (DeFi) protocols presents an “unparalleled and enticing alternative for blackhat hackers.” At the moment, there may be $87.2 billion in complete worth locked (TVL) throughout DeFi, according to DefiLlama.