Monday, September 30, 2024
| Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox! | | Are you ready for the final quarter of the year, Geckos?
As we end the summer strong, what lies in store for us in Q4? In today's news:
Drawn and quartered ✂️ Token Unlocks: October 🔓
Read on! | | 24h Hot Searches Worldwide 🔥 | | Crypto Sponsorships In Sports | | Soccer has been a primary target for crypto sponsorships since 2021. That year saw 9 new deals, followed by 10 in 2022, a sharp drop to just 3 in 2023, and a rebound to 10 in 2024. How have other sports fared? | | | Drawn and quartered ✂️ Although there were expectations earlier in the year that FTX creditors may be fully repaid, it seems this is no longer the case. According to newly revised paperwork shared by FTX creditor Sunil Kavuri, creditors would only get 10% to 25% of their crypto back.
Kavuri also shared that creditors would be reimbursed based on the petition date, which was during a period when crypto prices were much lower.
In other words, users will receive fewer assets than they would have received if their claims were based on crypto prices today.
Besides that, 18% of the funds seized by the US Department of Justice, equivalent to approximately $230M, will be transferred into a special fund to be paid out to equity holders.
Unsurprisingly, this latest twist in the proceedings resulted in the price of the FTT token rising by 28.8% from $1.63 to $2.10 today. | | | Watch this video to learn about what funding rates are, and how you can use it to gauge market sentiment. | | | Token Unlocks: October 🔓
As we head into the so-called month of 'Uptober', some tokens, such as SUI and TIA, might see some additional volatility, given their upcoming token unlocks. Among the first tokens to be unlocked in October is SUI, which will release an additional 62M tokens tomorrow, equivalent to 2.4% of its current circulating supply.
The price of SUI has been on a tear in the past month, rising by 120% from $0.80 to $1.76 today.
However, the biggest token unlock of the month goes to Celestia, which will add an additional 175.6M tokens to its current supply, representing an 82% increase of TIA tokens introduced into circulation.
At current prices, the unlock will increase TIA's market cap by an additional $1.05B and will introduce daily emissions of almost 1B tokens per day, equivalent to approximately $6M. | | | In this article by PlaytoEarn, learn about how web3 games are encouraging social engagement and content creation through create and earn programs. | | | In Other News... The Speed of Lightning. Speed Wallet has launched USDT-L, a wrapped version of USDT on the Bitcoin Lightning Network. First Ordinals Auction. Christie's will auction 'Ascend,' a one-of-a-kind dynamic art piece inscribed using the Bitcoin Ordinals protocol.
$2.5M under 2 hours. Initia has successfully raised additional funds on Cobie's investment platform, Echo, through a token purchase agreement at a valuation of $250M.
Play Store Predators. A fake wallet app on the Google Play Store was downloaded over 10,000 times, stealing over $70,000 in funds through phishing attacks before it was shut down.
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