Hodler’s Digest, September 29 – October 4 – Cointelegraph Magazine

Top news of the week

The director who identified the QAnon author said the HBO document would expose Satoshi.

Documentary filmmaker Cullen Hoback and HBO recently announced the debut of the upcoming film. Money Electric: The Bitcoin MysteryIt suggests that the identity of Bitcoin founder Satoshi Nakamoto may finally be revealed.

Cullen Hoback is probably best known for his HBO miniseries. Q: Into the stormHe claims to have identified several authors of the QAnon conspiracy theory.

Recently, Hoback investigated the origins of Bitcoin in an attempt to trace the real identity of the engineer known as Satoshi Nakamoto, who is credited with inventing Bitcoin and the underlying technology that makes it possible.

“Some people may be wondering why I disappeared. Well, I was tracking down another person who had disappeared. Wondering who’s behind Bitcoin? MoneyElectric: The Bitcoin Mystery will be revealed next Tuesday. It’s going to be a roller coaster.” Hoback said in X’s post announcing the documentary.

Banks to join SWIFT digital asset trial in 2025

Banks in North America, Europe and Asia are preparing to participate in digital asset-related trials by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

SWIFT announced on October 3 that it will begin testing digital assets on its network in 2025. The trial will include experiments with transactions involving multiple digital currencies and assets.

The goal of the trial is to explore how banking networks can provide financial institutions with integrated access to “multiple digital asset classes and currencies.”

“Initial use cases will focus on payments, foreign exchange, securities and trading to enable multi-ledger delivery-to-pay and pay-to-pay transactions,” the release said.

US Jobs Report Suggests Declining Interest Rate Cuts, But Still Bullish on BTC: Grayscale

Grayscale’s head of research, Zach Pandl, said the September U.S. jobs report suggests a possible slowdown in interest rate cuts but remains bullish on Bitcoin (BTC) as investors turn to riskier assets.

“The talk of cutting interest rates by the Federal Reserve and widening government deficits continues alongside robust economic growth, which will have a positive impact on investors’ risk appetite and could reignite inflation risks in the medium term,” Pandl said.

“Grayscale Research expects Bitcoin to benefit in a risk-positive environment,” he explained.

The U.S. economy gained about 254,000 jobs in September, well ahead of the roughly 140,000 new jobs economists had expected, according to the Bureau of Labor Statistics.

Spot BTC prices rose to an intraday high above $62,300 on October 4 following stronger-than-expected employment data.

Ripple and Mercado Bitcoin launch cryptocurrency payments in Brazil

Blockchain payment network Ripple is collaborating with a major Brazilian cryptocurrency exchange to launch cross-border payments via cryptocurrency.

Ripple officially announced on October 3 that it has partnered with Brazil’s Mercado Bitcoin exchange to allow local businesses to settle payments using Ripple’s “managed end-to-end payment solutions.”

The new payment tool will allow businesses in Brazil to make “faster, cheaper and more efficient cross-border payments” around the world 24/7, with payments completed in minutes, Ripple said.

According to the announcement, the new product is not yet available to customers. Ripple expects the first effort to involve exclusively institutional customers, from Mercado Bitcoin to Mercado Bitcoin Portugal.

This integration builds on Ripple’s new feature, introduced in 2023, that allows businesses to manage end-to-end payments on behalf of their customers.

FTX Bankruptcy Real Estate Auctioning Worldcoin Tokens This Week

FTX Real Estate is preparing to auction approximately 22 million WorldCoin (WLD) tokens (worth approximately $38 million) on October 3, a source familiar with the matter told Cointelegraph.

Investor bids must be submitted by October 3 with a minimum bid of $2.5 million to qualify for the auction, and tokens can be sold at a steep discount of up to 75%.

Cointelegraph also learned that the token will have a four-year unlock period until 2028.

Starting December 1, 2024, approximately 20,000 WLD tokens will be unlocked each day. The unlock schedule will slow down to approximately 14,000 WLD tokens per day from July 2026 until completion in 2028.

winners and losers

Bitcoin this weekend (BTC) It’s in $62,378ether (ETH) to $2,427 and XRP to $0.53. The total market capitalization is $2.17 $1 trillion, according to CoinMarketCap.

Among the top 100 cryptocurrencies, the top three altcoin gainers this week are FTX tokens. (FTT) 63.96%, Popcat (SOL) (Popcat) 27.15% and MANTRA (for) 12.44%.

The top three altcoin losers of the week are Notcoin. (no) 26.22%, Lido DAO (LDO) 21.67%, Arweave (AR) 20.52%. For more information on cryptocurrency prices, read Cointelegraph’s market analysis.

most memorable quotes

“Telegram was created to protect activists and ordinary people from corrupt governments and corporations. We do not allow criminals to abuse our platforms or evade justice.”

Pavel DurovTelegram Founder and CEO

“For digital assets and currencies to succeed on a global scale, it is important that they can coexist seamlessly with traditional forms of money.”

Tom ZschachChief Innovation Officer, Securities Industry and Financial Markets Association

“The end game of integrating off-chain and on-chain UX/UI leveraging Base, CB Advanced, and Coinbase Wallet makes us very optimistic about mass adoption.”

Altcoin Psychopseudonym cryptocurrency analyst

“According to on-chain data valuation indicators, Bitcoin could target $85,000-$100,000 in the fourth quarter in the context of demand recovery and positive seasonality.”

CryptoQuant Analyst

“Chasing a narrative can keep you honest.”

Regan BosemanLattice Co-Founder

“We expect Bitcoin to benefit from any stock retracement due to its nature as a risk asset amid global monetary easing.”

QCP CapitalCryptocurrency asset trading company

Predictions of the Week

XRP price drops 15% in 3 days. Will Ripple’s legal setbacks mark a bottom?

XRP has fallen nearly 15% so far in October, largely due to losses incurred as the U.S. Securities and Exchange Commission (SEC) resumes its appeal of Ripple’s lawsuit.

However, for some analysts, XRP’s decline may be a buying opportunity rather than a cause for concern. More specifically, historical price patterns and recent whale accumulation suggest that the XRP price could stage a massive rally in the coming months.

Household analyst CryptoBull highlighted striking similarities between XRP’s current price action and its 2017 bull market trajectory.

At that time, XRP consolidated within a symmetrical triangle pattern, rising 66,240% to an all-time high of $3.31. As of October 2024, the asset is nearing the peak of a similar triangle structure, as seen on the monthly chart.

These formations often precede strong directional movements, and if XRP follows historical precedent, a breakout could lead to significant gains.

In the case of symmetrical triangles, especially within an uptrend, breakouts tend to be bullish, with the price rise coinciding with the height at the widest point of the triangle.

For XRP, the peak of the symmetrical triangle is currently around $0.52. If the price breaks above the upper trendline at this level around June 2025, the pattern’s potential upside target is near $23.40, representing a massive increase of over 4,200% over the next few years.

FUD of the week

Hackers Stealed $440 Million Through 28 Exploits in Q3: Report

According to a report from cybersecurity firm Hacken, the third quarter saw the fewest losses from hacks the industry has seen in the past three years. About $460 million was stolen in 28 incidents.

Nevertheless, the recovery rate was only 5%, the lowest in recent years. Hacken analyzes this data along with the broader state of Web3 security in the third quarter. It also describes the main types of attacks, most affected project categories, and mitigation strategies.

Exploits of access control mechanisms accounted for $316 million, or nearly 70% of the total funds stolen in cryptocurrency hacks in the third quarter. Perpetrators of these attacks gain control over the keys that control smart contracts. Once you have control of the keys, you can withdraw funds from the contract to your own wallet or upgrade your proxy contract implementation to enable withdrawal functionality.

Vietnamese police uncover cryptocurrency fraud ring linked to overseas actors

Vietnamese provincial police have arrested five people involved in a sophisticated cryptocurrency fraud network led by overseas criminals, according to local media reports.

On October 4, police in Nghe An, a Vietnamese province bordering Laos and the Gulf of Tonkin, dismantled a Laos-based fraud ring involved in fraudulent wire transfers. The scammers were led by overseas individuals specializing in cryptocurrency investment scams and ‘pig slaughter’, a long-term investment scam that forces victims to donate more to the perpetrators.

Nghe An police arrested two Vietnamese suspects after investigating and confirming their direct links to cryptocurrency fraud.

According to reports, one of the fraudsters traveled to Laos in September 2023 to join a group of fraudsters. In February, they began creating Facebook accounts to trick victims into investment scams.

Binance warns of cryptocurrency market risks due to overvaluation and centralization

According to a recent report from Binance, the cryptocurrency market faces serious risks due to overvaluation and centralization of token ownership.

The report warns that if these issues are not addressed, these risks could undermine the long-term stability and integrity of the cryptocurrency industry.

A Binance spokesperson explained to Cointelegraph that as more participants enter the market, “there is greater emphasis on valuation and responsible financial management.” They went on to say:

“Our report highlights the important role of decentralized control and transparency in the use of funds to build long-term trust. Projects that adopt these principles are better positioned to gain market trust and achieve sustainable growth.”

Featured Magazine Articles of the Week

Anti-aging tycoon Brian Johnson has devoted almost his entire life to cryptocurrency.

“The reality is that my entire life is in cryptocurrency,” says the billionaire who has dedicated his life to pushing the boundaries of longevity.

Cryptocurrency fraud reporter arrested on suspicion of pro-cryptocurrency in Japan: Asia Express

Cambodia arrests journalist reporting on multibillion-dollar cryptocurrency scam, while South Korea and the United States are working together to combat North Korean cybercrime.

Did Telegram’s Pavel Durov commit a crime? Cryptocurrency Lawyers’ Opinions

The arrest of Telegram CEO Pavel Durov has thrown technology into uncharted waters. Our panel of cryptocurrency lawyers weighs in on the implications.

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editorial staff

Cointelegraph Magazine writers and reporters contributed to this article.