Cointelegraph allegedly profited 2M from deleted Bitcoin ETF tweet

📉 Cointelegraph posted a now-deleted tweet confirming that Blackrock's Bitcoin ETF had been approved. Bitcoin rallied 10%.

The crypto world buzzed as Bitcoin leapt 10% on rumours of BlackRock's Bitcoin ETF getting a green light from the SEC, and a buzzkill correction followed. This rumour, initiated by Coin Telegraph's alleged misreport, painted a momentarily rosy picture for crypto enthusiasts, only to be dashed by BlackRock's denial, demonstrating the market's sensitivity to regulatory nods.

Coin Telegraph later retracted its story and initiated an internal investigation into the misinformation, underlining the critical role accurate reporting plays in this high-stakes financial landscape. The market's reaction was a live exhibit of the potential ripple effect a regulatory approval could trigger, with the day ending on a note of caution and anticipation.

Rollbit, a cryptocurrency casino, commented below Coin Telegraph's report with a tweet displaying alleged profits from a trade.

☕️ On today's Top Picks:

📰 Crypto News

• Chinese Bitcoin mining facilities across the US scrutinized as a National Security concern. One Bitcoin mining operation highlighted as it is near a Microsoft data center that supports the Pentagon and also near an Air Force base that controls nuclear-armed intercontinental ballistic missiles.

• SEC will not appeal Grayscale Bitcoin ETF court decision. The SEC will now need to review Grayscale's Bitcoin ETF application (again) and make a decision. If denied by the SEC, Grayscale could appeal the decision.

• ARK and 21Shares Bitcoin ETF application "updated." Analysts argue these updates signal “constructive conversation” with the SEC, which typically only happens when the SEC plans to approve an ETF.

• Ethereum blockchain validator queue has emptied for the first time since the Shanghai upgrade. For comparison, in May 2023; over 90,000 validators waited 40+ days to join the network.

• FTX estate stakes 5.5 million Solana ($SOL) worth ~$126 million.

• BNB Chain's 25th quarterly $BNB burn successfully completes. A total of 2,139,182.98 BNB worth ~$450 million was burned.

• MetaMask mobile app briefly removed from the Apple App Store. The app has since returned,

• Uniswap proposal by Jongwon Park seeks to implement KYC checks within Uniswap. Park cites that permissioned tools on blockchains are inevitable.

• Australia will soon require cryptocurrency exchanges to hold a financial-services license. Platforms that hold ~$3.2 million USD, or ~$1,000 USD for an individual, must obtain a permit from the Australian Securities and Investments Commission (ASIC).

⚡ Alpha

• Arbitrum Odyssey: Reignited resumes today. Week 3 will begin next week, on October 23rd.

• Manta Network adds new MantaFest activities on Galxe.

• Scroll Mainnet launch possibly teased. Several cryptocurrency projects with Scroll inspired artwork has been posted on X.

🪂 Airdrops

• Celestia Genesis airdrop, less than 24 hours left to claim.

📰 Finance News

• Tesla Q3 earnings call scheduled for October 18th. If Tesla's Bitcoin holdings change, the price of Bitcoin could be affected.

• Middle East conflict may reawaken US inflation.

• Ferrari to accept cryptocurrency payments in the US. Ferrari cites market demand and dealer requests for the decision.

🛡 Security and Exploits

• TrueUSD hit by third-party security breach. Personally identifiable information (PII) of some of its customers has been exposed. Exposed PII includes names, emails, phone numbers, addresses, birth dates, bank names, transaction history, and public blockchain addresses.

• Tether freezes 32 addresses linked to terrorism and warfare. The combined value across the addresses is worth ~$873,000.

• WiseLending exploited for 169.4 ETH after price manipulation attack.

• SlowMist releases weekly security report. Over $6 million was stolen from October 8th to October 15th.

Token Unlocks

• ApeCoin $APE - 15.6M ~$16.69M on OCT 16

• Axie Infinity $AXS - 15.13M ~$65.34M on OCT 20

• Space ID $ID - 18.49M ~$3.51M on OCT 21

• Cartesi $CTSI - 21.43M ~$2.82M on OCT 22

💰 Funding

• MyShell, an opBNB-based AI platform; raises $5.6 million in Seed funding round.

• Consensys acquires Special Mechanisms Group (SMG). SMG is a mechanism design company known for its research focused on blockchain microstructure.

🌾 The Degen Farmer

Top stablecoin yield farms of the day, more than $1,000,000 in TVL. DYOR and beat the fed!

That's it for today's dose! See you soon.