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Binance’s exec exodus, Nasdaq to trade AI orders and SBF loses bail appeal: Hodler’s Digest, Sept. 3-9

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Binance executives depart, Nasdaq will trade AI-based orders and a bail appeal is denied for Sam Bankman-Fried.

Top Stories This Week

Binance crypto exchange saw 10 key execs leave in 2023. Heres the list

A key talking point in the crypto community has been the ongoing exodus of executives from Binance amid growing regulatory troubles. Binance has seen the departure of 10 key executives from various departments in the first nine months of 2023. The latest to join the list is Helen Hai, executive vice president of Binance, who announced her resignation from her post on Sept. 6. On the same day, Gleb Kostarev, vice president of Eastern Europe, Turkey, the Commonwealth of Independent States, Australia and New Zealand at Binance, also announced his resignation, as did CIS general manager Vladimir Smerkis. Four top executives from Binance reportedly all left on the same day after Binances response to the United States Department of Justice investigation. Binance CEO Changpeng Zhao has hosed down recent rumors against his firm, assuring its balance sheet and employee retention remain robust despite the recent market uncertainty.

Nasdaq receives SEC approval for AI-based trade orders

The United States Securities and Exchange Commission has approved Nasdaq’s request to operate its first AI-driven order type on Sept. 8. Called the dynamic midpoint extended life order (M-ELO), the new system expands on the M-ELO automated order type by making it dynamic, meaning it will use artificial intelligence to update and, essentially, recalibrate itself in real-time. The follow-on effect should be a significant acceleration of orders placed with the system. Nasdaq says the dynamic M-ELO demonstrated a 20.3% increase in fill rates and an 11.4% reduction in mark-outs during its research and testing.

Appellate judge denies Sam Bankman-Frieds request for immediate release from jail

Former FTX CEO Sam SBF Bankman-Fried lost an initial appeal to be released again on bail prior to his criminal trial. His lawyers had petitioned the court for temporary release, claiming the current measures to allow SBF to prepare for his trial were inadequate due to limited internet access. An appeals court denied the motion on Sept. 6, maintaining SBF’s detention at the Metropolitan Detention Center in Brooklyn. The former FTX CEO had his bail revoked on Aug. 11, following allegations of witness intimidation for leaking, to The New York Times, personal notes and diary entries from former Alameda Research CEO Caroline Ellison. SBF has roughly four weeks to prepare for his Oct. 3 trial.

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Following SEC delays, ARK Invest and 21Shares file for spot Ether ETF

ARK Invest and 21Shares requested the U.S. Securities and Exchange Commission to approve the listing of shares of a spot Ether ETF on the Cboe BZX Exchange. The investment vehicle, called the ARK 21Shares Ethereum ETF, will have crypto exchange Coinbase act as a custodian and will measure the performance of Ether based on the Chicago Mercantile Exchange CF Ether-Dollar Reference Rate. The proposal from ARK Invest and 21Shares is one of many spot crypto ETFs that will be reviewed by the SEC in the coming months. The U.S. regulator has been delaying decisions on crypto investments products lately, especially concerning Bitcoin spot ETF proposals.

Grayscale asks SEC to meet on way forward for Bitcoin ETF conversion

Grayscale has told the U.S. Securities and Exchange Commission that it has no legal reasoning left to block the conversion of its flagship Bitcoin fund to a spot exchange-traded fund (ETF). The company’s lawyers sent a letter to the SEC requesting the pair meet to discuss the next steps following the regulators court loss regarding the conversion of the Grayscale Bitcoin Trust (GBTC) on Aug. 29. Grayscale added that it believes the SEC should conclude there are no grounds for treating the GBTC differently from Bitcoin futures ETFs whose filings the Commission has previously approved. According to Grayscale, its fund conversion application has been pending for nearly three times longer than the length of time stipulated by the SECs rules.

Winners and Losers

At the end of the week, Bitcoin (BTC) is at $25,871, Ether (ETH) at $1,635 and XRP at $0.50. The total market cap is at $1.04 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Synthetix (SNX) at 12.86%, Stellar (XLM) at 9.83% and Render (RNDR) at 9.09%.

The top three altcoin losers of the week are Gala (GALA) at -14.74%, Mantle (MNT) at -7.49% and Flare (FLR) at -7.06%.

For more info on crypto prices, make sure to read Cointelegraphs market analysis.

Most Memorable Quotations

I feel bad that I have to tell people that the United States is probably not where they want to be, but the tide is turning.

David Schwartz, chief technology officer at Ripple

I do think that the worlds of traditional and blockchain-based financial systems can co-exist, and likely will in the new future.

Yida Gao, founder and managing general partner of Shima Capital

DeFi is the future; the volume is somewhere between 5% to 10% of CeFi volumes, which is not small, right? […] The next bull run may very well make DeFi bigger than CeFi.

Changpeng Zhao, CEO of Binance

ChatGPT will enable a bunch of people that have never had all this training to jump in, they can start right now and I start to worry about morphological design problems buried in there.

Kang Li, chief security officer at Certik

The Bitcoin Ordinal protocol is better designed for decentralization and security than the Ethereum NFT protocol. High-value NFTs will win on Bitcoin.

Danny Yang, co-founder and CEO of Metagood

Australia would have a regulated digital assets market. Instead, it is close to the end of 2023, and the government has no plan to implement these regulations.

Andrew Bragg, Australian Senator

Prediction of the Week

Bitcoin price can hit $46K by 2024 halving Interview with Filbfilb

Bitcoin has a chance to end 2023 at $35,000 despite heading lower in between, veteran pseudonymous analyst Filbfilb believes. In an interview with Cointelegraph, the co-founder of trading suite DecenTrader revealed some BTC price targets that should resonate with the long-term holder base.

Based on the previous cycles, Filbfilb sees a contraction of new emitted supply to market in advance of the halving. Coupled by increased speculative demand, this dynamic is likely to repeat in my opinion, he pointed out in reference to a possible reversal in price behavior due to the upcoming halving.

Regarding BTC price action in 2023 compared to other pre-halving years, the analyst notes that there has been a failure to break the 100-week moving average thus far, which is a notable difference [compared to pre-halving years], Filbfilb stated, adding that assuming no black swan event, around $35,000 by the end of the year and possibly as high as $46,000 some time pre-halving in Q1 2024.

FUD of the Week

CFTC fines Mirror Trading $1.7B for Bitcoin-related forex fraud

United States regulators have finally taken steps to resolve an enforcement case against collapsed trading organization Mirror Trading International (MTI). A district court in Texas ordered MTI to pay $1.7 billion in restitution to victims for operating a fraudulent scheme involving digital assets and forex, the Commodity Futures Trading Commission announced on Sept. 7. MTI went into provisional liquidation in late 2020 after one of its directors allegedly escaped the country, grabbing roughly $1 billion in Bitcoin that investors had entrusted to the company.

Turkish crypto exchange Thodex CEO gets 11,000-year sentence for $2B scam

The former CEO of Turkish crypto exchange Thodex, Faruk Fatih zer, was sentenced to 11,196 years in prison by a Turkish court on charges of establishing, managing and being a member of an organization, qualified fraud and laundering of property values. The court gave zer and his two siblings the same jail sentence, along with a $5 million fine, local media reported. The Turkish crypto exchange was one of the largest digital asset trading platforms in the country before it abruptly imploded in 2021, halting services without prior notice, with zer fleeing the country with users assets totaling $2 billion in crypto.

Stake hack of $41M was performed by North Korean group: FBI

The $41 million hack of crypto gambling site Stake was carried out by the North Korean hacking collective Lazarus Group, the U.S. Federal Bureau of Investigation stated in an announcement. The group has stolen more than $200 million in crypto in 2023. Stake, a crypto gambling platform, was the victim of a cyberattack on Sept. 4 that drained over $41 million worth of cryptocurrency from its hot wallets. The Stake team stated that the hacker only obtained a small percentage of funds and that users would not be affected.

Big Questions: Whats with all the crypto deaths?

Stuffed down toilets, dismembered in suitcases crypto has been the common denominator for several gruesome murders and mysterious deaths this year.

NFT collapse and monster egos feature in new Murakami exhibition

Famed Japanese artist Takashi Murakami’s new exhibition comments on digital ego and the shaky status of the NFT industry.

Crypto lawyer Irina Heaver on death threats, lawsuit predictions: Hall of Flame

Irina Heaver moved to crypto after she could no longer “sit in the boardroom listening to that corporate bullshit.

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  • 07.09.23 16:24 CherryTeam

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  • 08.10.23 01:30 davec8080

    The "Shibarium for this confirmed rug pull is a BEP-20 project not related at all to Shibarium, SHIB, BONE or LEASH. The Plot Thickens. Someone posted the actual transactions!!!! https://bscscan.com/tx/0xa846ea0367c89c3f0bbfcc221cceea4c90d8f56ead2eb479d4cee41c75e02c97 It seems the article is true!!!! And it's also FUD. Let me explain. Check this link: https://bscscan.com/token/0x5a752c9fe3520522ea88f37a41c3ddd97c022c2f So there really is a "Shibarium" token. And somebody did a rug pull with it. CONFIRMED. But the "Shibarium" token for this confirmed rug pull is a BEP-20 project not related at all to Shibarium, SHIB, BONE or LEASH.

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  • 06.09.24 01:35 Celinagarcia

    HOW TO RECOVER MONEY LOST IN BITCOIN/USDT TRADING OR TO CRYPTO INVESTMENT !! Hi all, friends and families. I am writing From Alberton Canada. Last year I tried to invest in cryptocurrency trading in 2023, but lost a significant amount of money to scammers. I was cheated of my money, but thank God, I was referred to Hack Recovery Wizard they are among the best bitcoin recovery specialists on the planet. they helped me get every penny I lost to the scammers back to me with their forensic techniques. and I would like to take this opportunity to advise everyone to avoid making cryptocurrency investments online. If you ​​​​​​have already lost money on forex, cryptocurrency or Ponzi schemes, please contact [email protected] or WhatsApp: +1 (757) 237–1724 at once they can help you get back the crypto you lost to scammers. BEST WISHES. Celina Garcia.

  • 06.09.24 01:44 Celinagarcia

    HOW TO RECOVER MONEY LOST IN BITCOIN/USDT TRADING OR TO CRYPTO INVESTMENT !! Hi all, friends and families. I am writing From Alberton Canada. Last year I tried to invest in cryptocurrency trading in 2023, but lost a significant amount of money to scammers. I was cheated of my money, but thank God, I was referred to Hack Recovery Wizard they are among the best bitcoin recovery specialists on the planet. they helped me get every penny I lost to the scammers back to me with their forensic techniques. and I would like to take this opportunity to advise everyone to avoid making cryptocurrency investments online. If you ​​​​​​have already lost money on forex, cryptocurrency or Ponzi schemes, please contact [email protected] or WhatsApp: +1 (757) 237–1724 at once they can help you get back the crypto you lost to scammers. BEST WISHES. Celina Garcia.

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  • 23.09.24 18:56 matthewshimself

    At first, I was admittedly skeptical about Worldcoin (ref: https://worldcoin.org/blog/worldcoin/this-is-worldcoin-video-explainer-series), particularly around the use of biometric data and the WLD token as a reward mechanism for it. However, after following the project closer, I’ve come to appreciate the broader vision and see the value in the underlying tech behind it. The concept of Proof of Personhood (ref: https://worldcoin.org/blog/worldcoin/proof-of-personhood-what-it-is-why-its-needed) has definitely caught my attention, and does seem like a crucial step towards tackling growing issues like bots, deepfakes, and identity fraud. Sam Altman’s vision is nothing short of ambitious, but I do think he & Alex Blania have the chops to realize it as mainstay in the global economy.

  • 01.10.24 14:54 Sinewclaudia

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  • 02.10.24 22:27 Emily Hunter

    Can those who have fallen victim to fraud get their money back? Yes, you might be able to get back what was taken from you if you fell prey to a fraud from an unregulated investing platform or any other scam, but only if you report it to the relevant authorities. With the right plan and supporting documentation, you can get back what you've lost. Most likely, the individuals in control of these unregulated platforms would attempt to convince you that what happened to your money was a sad accident when, in fact, it was a highly skilled heist. You should be aware that there are resources out there to help you if you or someone you know has experienced one of these circumstances. Do a search using (deftrecoup (.) c o m). Do not let the perpetrators of this hoaxes get away with ruining you mentally and financially.

  • 18.10.24 09:34 freidatollerud

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  • 31.10.24 00:13 ytre89

    Can those who have fallen victim to fraud get their money back? Yes, you might be able to get back what was taken from you if you fell prey to a fraud from an unregulated investing platform or any other scam, but only if you report it to the relevant authorities. With the right plan and supporting documentation, you can get back what you've lost. Most likely, the individuals in control of these unregulated platforms would attempt to convince you that what happened to your money was a sad accident when, in fact, it was a highly skilled heist. You should be aware that there are resources out there to help you if you or someone you know has experienced one of these circumstances. Do a search using (deftrecoup (.) c o m). Do not let the perpetrators of this hoaxes get away with ruining you mentally and financially.

  • 02.11.24 14:44 diannamendoza732

    In the world of Bitcoin recovery, Pro Wizard Gilbert truly represents the gold standard. My experience with Gilbert revealed just how exceptional his methods are and why he stands out as the premier authority in this critical field. When I first encountered the complexities of Bitcoin recovery, I was daunted by the technical challenges and potential risks. Gilbert’s approach immediately distinguished itself through its precision and effectiveness. His methods are meticulously designed, combining cutting-edge techniques with an in-depth understanding of the Bitcoin ecosystem. He tackled the recovery process with a level of expertise and thoroughness that was both impressive and reassuring. What sets Gilbert’s methods apart is not just their technical sophistication but also their strategic depth. He conducts a comprehensive analysis of each case, tailoring his approach to address the unique aspects of the situation. This personalized strategy ensures that every recovery effort is optimized for success. Gilbert’s transparent communication throughout the process was invaluable, providing clarity and confidence during each stage of the recovery. The results I achieved with Pro Wizard Gilbert’s methods were remarkable. His gold standard approach not only recovered my Bitcoin but did so with an efficiency and reliability that exceeded my expectations. His deep knowledge, innovative techniques, and unwavering commitment make him the definitive expert in Bitcoin recovery. For anyone seeking a benchmark in Bitcoin recovery solutions, Pro Wizard Gilbert’s methods are the epitome of excellence. His ability to blend technical prowess with strategic insight truly sets him apart in the industry. Call: for help. You may get in touch with them at ; Email: (prowizardgilbertrecovery(@)engineer.com) Telegram ; https://t.me/Pro_Wizard_Gilbert_Recovery Homepage ; https://prowizardgilbertrecovery.info

  • 12.11.24 00:50 TERESA

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  • 17.11.24 09:31 Vivianlocke223

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  • 19.11.24 03:06 [email protected]

    My entire existence fell apart when a malevolent hacker recently gained access to my online accounts. I felt violated and extremely uneasy after discovering that the digital platforms I depended on for communication, employment, and finances had been compromised. Regaining control and restoring my digital security was an overwhelming task in the immediate aftermath. To help me navigate the difficult process of recovering my accounts and getting my peace of mind back, TRUST GEEKS HACK EXPERT came into my life as a ray of hope. They immediately put their highly skilled professionals to work, thoroughly examining the vulnerability and methodically preventing unwanted access. They guided me through each stage soothingly, explaining what was occurring and why, so I never felt lost or alone. They communicated with service providers to restore my legitimate access while skillfully navigating the complex labyrinth of account recovery procedures. My digital footprint was cleaned and strengthened against future attacks thanks to their equally amazing ability to remove any remaining evidence of the hacker's presence. However, TRUST GEEKS HACK EXPERT actual worth went beyond its technical aspects. They offered constant emotional support during the ordeal, understanding my fragility and sense of violation. My tense nerves were calmed by their comforting presence and kind comments, which served as a reminder that I wasn't alone in this struggle. With their help, I was able to reestablish my sense of security and control, which enabled me to return my attention to the significant areas of my life that had been upended. Ultimately, TRUST GEEKS HACK EXPERT all-encompassing strategy not only recovered my online accounts but also my general peace of mind, which is a priceless result for which I am incredibly appreciative of their knowledge and kindness. Make the approach and send a message to TRUST GEEKS HACK EXPERT Via Web site <> www://trustgeekshackexpert.com/-- E>mail: Trustgeekshackexpert(At)fastservice..com -- TeleGram,<> Trustgeekshackexpert

  • 19.11.24 03:07 [email protected]

    My entire existence fell apart when a malevolent hacker recently gained access to my online accounts. I felt violated and extremely uneasy after discovering that the digital platforms I depended on for communication, employment, and finances had been compromised. Regaining control and restoring my digital security was an overwhelming task in the immediate aftermath. To help me navigate the difficult process of recovering my accounts and getting my peace of mind back, TRUST GEEKS HACK EXPERT came into my life as a ray of hope. They immediately put their highly skilled professionals to work, thoroughly examining the vulnerability and methodically preventing unwanted access. They guided me through each stage soothingly, explaining what was occurring and why, so I never felt lost or alone. They communicated with service providers to restore my legitimate access while skillfully navigating the complex labyrinth of account recovery procedures. My digital footprint was cleaned and strengthened against future attacks thanks to their equally amazing ability to remove any remaining evidence of the hacker's presence. However, TRUST GEEKS HACK EXPERT actual worth went beyond its technical aspects. They offered constant emotional support during the ordeal, understanding my fragility and sense of violation. My tense nerves were calmed by their comforting presence and kind comments, which served as a reminder that I wasn't alone in this struggle. With their help, I was able to reestablish my sense of security and control, which enabled me to return my attention to the significant areas of my life that had been upended. Ultimately, TRUST GEEKS HACK EXPERT all-encompassing strategy not only recovered my online accounts but also my general peace of mind, which is a priceless result for which I am incredibly appreciative of their knowledge and kindness. Make the approach and send a message to TRUST GEEKS HACK EXPERT Via Web site <> www://trustgeekshackexpert.com/-- E>mail: Trustgeekshackexpert(At)fastservice..com -- TeleGram,<> Trustgeekshackexpert

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