Welcome back to another news roundup by your favorite portfolio tracker, Coinigy.
BTC just broke its legendary winning streak, and the vibes in here are getting spicy. You can’t make this stuff up. Elsewhere, our legendary convict just sent out a 14-page copium letter from prison, and the whole FTX back and forth is looking like we’re gonna have to restart.
Also, last week, our orange coin president had to play the “who’s CZ?” card right after he hit the pardon hammer. Meanwhile, you just get a feeling that Elizabeth Warren enjoys the media and takes every opportunity that comes, like how she’s firing shots at our boy CZ like it’s a Twitter Spaces battle.
Here’s what you’re getting in today’s edition:
- Bitcoin breaks October streak with first monthly loss since 2018
- Trump defends CZ pardon, says he ‘doesn’t know’ Binance co-founder
- Sam Bankman-Fried Claims FTX Was Never Bankrupt, Sparks Crypto Outrage
- CZ threatens Elizabeth Warren with lawsuit over ‘money launderer’ claim
Bitcoin breaks October streak with first monthly loss since 2018
Oct 31 (Reuters) – Bitcoin on Friday was on track for a monthly loss in October for the first time since 2018, snapping a seven-year streak of gains that had earned the month a lucky reputation among cryptocurrency traders. Bitcoin, the world’s largest cryptocurrency, is set for a nearly 5% decline this month, as the digital asset has struggled in recent weeks amid broader market jitters and muted investor risk appetite.
Trump defends CZ pardon, says he ‘doesn’t know’ Binance co-founder
US President Donald Trump defended his pardon of Binance co-founder Changpeng “CZ” Zhao, claiming he doesn’t personally know the crypto executive and dismissing criticism that the move was politically motivated. Trump claimed that he doesn’t know CZ in an interview with CBS News’ 60 Minutes on Sunday, reiterating his previous claims after pardoning him in late October. “OK, are you ready? I don’t know who he is,” Trump replied when asked about the pardon in the interview, adding that he had heard that CZ’s case was a “Biden witch hunt.”
Sam Bankman-Fried Claims FTX Was Never Bankrupt, Sparks Crypto Outrage
Sam Bankman-Fried’s latest statement from prison has reignited controversy in the crypto world, claiming that FTX was never actually bankrupt when it collapsed in 2022. On October 31, a 14-page document was shared via Sam Bankman-Fried’s long-dormant X account. The post insisted that FTX was never insolvent and could have recovered if external lawyers had not intervened. It claimed FTX held billions in assets and only faced a liquidity crunch due to sudden withdrawals in November 2022.
CZ threatens Elizabeth Warren with lawsuit over ‘money launderer’ claim
Founder and former CEO of Binance, Changpeng Zhao, has for the past week been locked in a war of words and threats with Massachusetts Senator Elizabeth Warren. The back and forth has the senator referring to the cryptocurrency entrepreneur as a “money launderer” and suggesting, “If Congress does not stop this kind of corruption (the pardoning of financial criminals), it owns it.”
Other Highlights Worth Mentioning
SEC just gave crypto lawyers a new way to win in court – Cryptoslate
XRP Drops 5% to $2.47 as Bears Break Key Support Level – Coindesk
Bybit Pauses Japan Signups to Strengthen Regulatory Compliance – Bitcoin.com
FTX Creditors Lose Twice as Crypto Market Rally Erases Gains From Cash Repayments – BeInCrypto
COINIGY FACT OF THE DAY.
On this day in 2023, Sam Bankman-Fried’s conviction was first reported, and market write-ups that day highlighted Bitcoin showing a daily “golden cross” while many altcoins rallied.
On this day in 2023, former FTX CEO Sam Bankman-Fried (SBF) was convicted on all seven counts of fraud and conspiracy in a landmark case that shook the crypto industry. Coincidentally, that same day, Bitcoin’s daily chart flashed a “golden cross,” a bullish technical signal where the 50-day moving average crosses above the 200-day moving average.
COINIGY MEME OF THE WEEK
