Digital Blood Money Rocks Crypto Community as Bitcoin Hits $114K 😱
Look guys, we've covered a lot of wild stuff in crypto over the years, from rug pulls to exchange hacks, to regulatory and courtroom issues, name it... But this week’s one hits different. I mean, the meme coin community seems to have crossed a line after some traders decided to make DEATH COINS and profited over $2 million in what some have called digital blood money following the assassination of right-wing influencer Charlie Kirk. 💸.
Here’s all the highlights:
- Crypto Traders Profit From Charlie Kirk Murder as Debate Swirls Over Ethical Lines
- Bitcoin Breaks Above $114K As Inflation Data Fuels Fed Cut Expectations
- Putin adviser accuses US of planning stablecoin scheme to eliminate $35 trillion debt
- Sam Bankman-Fried To Appeal 25-Year Sentence, Hearing Set For November 4
Crypto Traders Profit From Charlie Kirk Murder as Debate Swirls Over Ethical Lines
Meme coin creators and traders profited more than $2 million following the assassination of right-wing influencer Charlie Kirk on Wednesday. It has split the meme coin-frenzied segment of the crypto community, with one side calling those gaining from his death “sickening” while others shrug at the long line of morally questionable tokens traders have capitalized on. In the wake of the fatal shooting of prominent conservative activist Kirk, four meme coins were created and soared to multi-millions, with the largest peaking at a $36 million market cap.
Bitcoin Breaks Above $114K As Inflation Data Fuels Fed Cut Expectations
Bitcoin rose above $114,000 after U.S. producer price index data showed a 0.1% decline in August, easing pressure on inflation. The move boosted Bitcoin by 0.5% in the hour following the release. Ethereum also gained slightly, trading at $4,382. Bitcoin’s price is now 2.3% higher compared to last week, though it remains 5.7% lower than its level 30 days ago. The Bureau of Labor Statistics said “core” PPI, which excludes food, energy, and trade, rose 0.3% in August, lifting the annual figure to 2.8%. The increase highlights lingering inflation pressures despite broader declines.
Putin adviser accuses US of planning stablecoin scheme to eliminate $35 trillion debt
Russian President Vladimir Putin’s adviser, Dmitry Kobyakov, accused the US of orchestrating a crypto strategy to eliminate its $35 trillion national debt through the manipulation of stablecoins. During his speech at the Eastern Economic Forum on Sept. 6, Kobyakov claimed that Washington seeks to “rewrite the rules of the gold and crypto markets” as alternatives to traditional currency systems while addressing declining dollar confidence. The adviser drew parallels to historical US debt strategies from the 1930s and 1970s, arguing America plans to solve financial problems “at the world’s expense.”
Sam Bankman-Fried To Appeal 25-Year Sentence, Hearing Set For November 4
Sam Bankman-Fried, the former CEO of collapsed crypto exchange FTX, will face an appeals hearing on November 4. Nearly two years after receiving a 25-year sentence, his lawyers will present their arguments before the U.S. Court of Appeals for the Second Circuit. Bankman-Fried once stood among the most powerful names in the crypto industry. FTX ranked as one of the largest trading platforms worldwide. His personal fortune grew into the billions, and he rubbed shoulders with politicians, appeared in magazines, and even advertised during the Super Bowl.
Other Highlights Worth Mentioning
SwissBorg Loses $41M in SOL Hack - AltcoinBuzz
Ethereum Smart Contract Calls Hit Record 12 Million Daily - Phemex
Coinbase Demands SEC Accountability Over Lost Gensler Texts - 99Bitcoins
Gemini shares hit $40 within hours of Nasdaq debut, showcasing Wall Street’s crypto appetite - Cryptoslate
COINIGY FACT OF THE DAY
On this day in 2008, Lehman Brothers declared bankruptcy
On September 15, 2008, Lehman Brothers declared bankruptcy, filing for Chapter 11 protection with $639 billion in assets and $613 billion in debts - making it the largest bankruptcy filing in U.S. history. This financial crisis event directly influenced the creation of Bitcoin, as Satoshi Nakamoto included a reference to the banking crisis in the very first Bitcoin transactions, embedding the Times of London headline "Chancellor on brink of second bailout of banks" in the blockchain.