Bitcoin Breaks $64K, SEC Drama, and a $647M Landfill Treasure Lawsuit đźđď¸
Whatâs up and whatâs up again guys đ
How does it feel to rise up to Monday morning sunrise? Okay, I forgot I donât like Monday mornings, and you donât either. But not when Bitcoinâs rising with the Monday morning sun đ
Get off your Monday morning mood swings and check those wallets, Bitcoin is riding to space way faster than you could have said FOMO.
Elsewhere, the chairman of the crypto party crashers commission just went full "we messed up" mode on national TV. But is anybody even surprised?
Here are the Highlights:
- Bitcoin Begins the Week on a High, Jumps Above $64K
- SEC commissioner says agencyâs approach to crypto has been a âdisasterâ
- British man sues council for $647M over lost Bitcoin in landfill
- Ripple Counters SEC with Cross-Appeal Filing
Bitcoin Begins the Week on a High, Jumps Above $64K
Bitcoin climbed above $64,000, with other major cryptocurrencies like ether and Solana's SOL also gaining, although XRP and BNB remained unchanged. Over $100 million in short positions were liquidated due to the price jump. Memecoins like Mog and SPX6900 saw significant gains amidst discussions of a crypto "supercycle." Broader market sentiment leaned towards buying due to positive economic indicators from both China and the U.S., with U.S. equities reaching new highs.
SEC commissioner says agencyâs approach to crypto has been a âdisasterâ
SEC Commissioner Mark Uyeda criticized the agencyâs approach to crypto regulation and acknowledged that it has been a âdisaster for the whole industry.â He made the statement on Oct. 9, during an appearance on the Fox Business show âMornings with Maria,â in response to questions about the SECâs recent actions against prominent crypto firms. Uyeda said the SEC has chosen to take enforcement actions without providing regulatory clarity to crypto companies, which has contributed significantly to the current uncertain landscape in the US.
British man sues council for $647M over lost Bitcoin in landfill
James Howells, an IT engineer from Newport, is suing Newport City Council in the United Kingdom for 495 million British pounds (around $647 million) in damages after accidentally discarding a hard drive containing 8,000 Bitcoin. According to WalesOnline, Howells has made numerous attempts to retrieve the drive from the local landfill but has met resistance from the council, which has repeatedly denied his requests to excavate the site. He mistakenly threw out the hard drive containing Bitcoin in 2013 during a household clearout, now worth almost half a billion pounds.
Ripple Counters SEC with Cross-Appeal Filing
Ripple's cross-appeal aims to resolve remaining SEC-related legal uncertainties on favorable terms. The ongoing Ripple vs SEC case has seen Ripple countering recent SEC appeals for a definitive ruling. SEC Commissioner Mark Uyeda critiques the SEC's stance, hinting at industry dissatisfaction under Gensler's leadership. This development might have restarted the legal battle between the US Securities and Exchange Commission (SEC) and Ripple.
Other Highlights Worth Mentioning
FBI Accused of MIT License Violation in Smart Contracts - AltCoinBuzz
Coinbase-Backed Base Surpasses 6 Million Daily Transactions - BeInCrypto
Hong Kong to license more crypto exchanges by end of year - Cointelegraph
Bybit Seeks Regulatory Licensing In Austria To Boost European Expansion - Bitcoins