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Bitcoin surpasses $63,500 on Thursday

The price of Bitcoin (COIN:BTCUSD) is up 3.3% to $63,705 at the time of writing, following the rise in stocks and gold, driven by the 0.5% interest rate cut by the Fed. The financial market is optimistic, with the S&P 500 reaching new highs on Thursday. Data shows that institutions have slowed aggressive Bitcoin sales, reflecting greater interest in risk assets. Initial U.S. jobless claims fell to 219,000, better than forecasts, while the Philadelphia Fed Manufacturing Index rose to 1.7 in September, beating the consensus estimate of -1. These figures indicate economic strength, boosting investor optimism.

Ethereum developers split Pectra hard fork into two phases to reduce risks

Ethereum (COIN:ETHUSD) developers have decided to split the upcoming Pectra hard fork into two phases to facilitate implementation and reduce the risk of errors. The first phase, scheduled for early 2025, will include eight EIPs, such as EIP-7702, focusing on wallet improvements. The second phase will include proposals related to the Ethereum Virtual Machine and improvements to Layer 2 blockchains, with possible adjustments over time.

BlackRock’s iShares Bitcoin Trust faces slow inflows in September

Despite a nearly 5% rise in Bitcoin (COIN:BTCUSD) prices during the month, BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) raised only $6.76 million, with mixed performance in inflows and outflows. Although it recorded an inflow of $15.82 million on September 16, this amount was overshadowed by a previous outflow of $9.06 million. The Bitcoin ETF sector as a whole faced outflows of $155 million in September, reflecting market hesitation amid volatility.

On September 18, U.S. spot Bitcoin ETFs recorded collective outflows of $52.7 million, contrasting with inflows of $187 million on Tuesday.

Growth of decentralized prediction markets

Decentralized prediction markets, such as Polymarket and Azuro, are growing, allowing bets on future events via cryptocurrencies. Blockchain technology increases transparency, with users trading among themselves, eliminating centralized houses. Polymarket, focused on political events, and Azuro, focused on sports betting, lead the sector with combined volumes exceeding $1.6 billion. Adoption challenges include liquidity and regulation, but the future of these markets is promising, according to Castle Capital.

Cautious recovery of sports sponsorships in the crypto sector in 2024

Crypto company sports sponsorships are beginning to recover in 2024, with 26 new deals, following the 2021 boom and the 2022 decline. During the peak, companies like Crypto.com and FTX heavily invested in sponsorships, including Crypto.com’s $700 million deal for the Staples Center. The 2022 crisis, aggravated by FTX’s collapse, reduced the number of sponsorships. In 2024, companies like BlockDAG and Bitget are returning to the sports space, signaling a slow recovery, with deals such as BlockDAG’s $10 million sponsorship of Borussia Dortmund, though the numbers still fall short of 2021.

Puma partners with Web3 game UNKJD Soccer to expand into the metaverse

Puma has partnered with the Web3 game UNKJD Soccer, integrating licensed content to create new experiences for players. According to Tal Friedman, CEO of UNKJD, this collaboration brings credibility to the Web3 space, signaling broader acceptance of the technology. The partnership will introduce Puma characters with new abilities, following the launch of Puma’s 3D metaverse experience, Black Station. Ivan Dashkov of Puma highlighted that integration with digital games is an ongoing priority for the brand, which seeks to solidify its presence in this environment.

SEC requests extension for case against Coinbase until February 2025

The SEC has asked the court for an extension until February 2025 to deliver documents to Coinbase (NASDAQ:COIN) as part of a discovery process. The commission is reviewing more than 133,000 documents related to cryptocurrency tokens. The extension was necessary after Coinbase won a motion to compel the production of these documents. If granted, the jury hearing may not occur until 2025.

Hut 8 launches new miner with advanced cooling technology in partnership with Bitmain

Hut 8 (NASDAQ:HUT) and Bitmain announced the launch of the Antminer U3S21EXPH, an ASIC miner with direct liquid-to-chip cooling. Hut 8 plans to implement the model in 2025, expanding its hash rate to up to 33.5 EH/s. The optimized design allows a density of up to 180 kW per rack. The partnership involves a flexible hosting agreement, allowing Hut 8 to purchase the machines after six months, adjusting as market conditions evolve.

DZ Bank and Boerse Stuttgart Digital team up to offer cryptocurrency services

DZ Bank, Germany’s second-largest financial institution, has partnered with Boerse Stuttgart Digital to offer cryptocurrency trading and custody services across its network of cooperative banks. Approximately 700 banks will be able to offer digital assets like Bitcoin and Ethereum to retail customers. The implementation will occur in phases, starting with a selected group of clients this year, followed by an evaluation for a full rollout. Boerse Stuttgart Digital will provide the necessary regulatory and technical infrastructure, while other German banks, such as Landesbank Baden-Württemberg, are also preparing to launch similar services.

Silvergate Capital files for bankruptcy after 18 months of liquidation

Silvergate Capital Corporation, parent company of Silvergate Bank, filed for bankruptcy under Chapter 11 on September 18, after 18 months of liquidation that began in March 2023. The company reported assets between $100 million and $500 million and liabilities between $10 million and $50 million. Although it has refunded all deposits, it faced regulatory challenges and significant withdrawals following the collapse of several cryptocurrency companies, adding to other bank failures in the U.S.

Solana Mobile unveils Seeker Web3 smartphone with 140,000 pre-orders

Solana Mobile announced the Seeker, its second-generation Web3 smartphone, set to launch in 2025, at Token2049. The device has already secured over 140,000 pre-orders in 57 countries. Anatoly Yakovenko, co-founder of Solana (COIN:SOLUSD), emphasized the need for more integrated hardware and software for Web3. The Seeker will feature the Seed Vault Wallet for simplified transactions, as well as a dApp Store 2.0. Hardware improvements include a lighter design and better battery life, with a starting price of $450 for pre-sale until September 21.

Sui Network may rival Solana as a leading layer 1 network

Sui Network (COIN:SUIUSD) is emerging as a significant competitor to Solana in the layer 1 network category, according to K33 Research. Since August, the SUI token has surged 115%, while SOL has only grown 6%. With a theoretical capacity of 297,000 transactions per second (TPS), Sui offers great efficiency, though its actual performance is still limited. The launch of the SuiPlay0x1 console and the adoption of the USD Coin stablecoin signal a promising future, but Sui’s low token circulation raises concerns about future sales that could impact prices.

RedStone integrates price oracles on the TON blockchain

RedStone, a blockchain oracle provider, announced the integration of its price feeds on The Open Network (COIN:TONCOINUSD) blockchain. This innovation will allow developers to access real-time asset prices, essential for complex financial protocols. On July 3, RedStone completed a Series A funding round, raising $15 million. Marcin Kazmierczak, RedStone’s COO, highlighted that this is the first oracle integration on TON, facing unique technical challenges due to the blockchain’s design. The integration could boost the expansion of decentralized finance (DeFi) and the GameFi ecosystem on the network, significantly enhancing its capabilities.

Charles Hoskinson to meet with Argentine president to discuss blockchain

Charles Hoskinson, founder of Cardano (COIN:ADAUSD), will meet with Argentine President Javier Milei on October 19 during the Tech Forum Argentina. The meeting will discuss blockchain’s potential to transform Argentina’s economy, politics, and society, including the possibility of a central bank digital currency (CBDC). Hoskinson praised Milei, highlighting his beliefs in free markets and private institutions. Cardano has strong ties to Argentina, with several partnerships to promote blockchain adoption in the country.

Donald Trump conducts Bitcoin transaction at themed bar in New York

Donald Trump visited PubKey, a Bitcoin bar in New York, where he conducted a Bitcoin transaction, considered the first made by a U.S. president. During the visit, Trump used the Strike app, and the transaction was confirmed after a staff member helped scan the QR Code. He praised the ease of Bitcoin transactions, reinforcing the voting intentions of cryptocurrency enthusiasts.

Two suspects arrested after $243 million theft from Genesis lender

Two people were arrested after the theft of $243 million from a Genesis lender in a social engineering scam. The victim was tricked into resetting two-factor authentication, transferring funds to a compromised wallet. The funds were tracked by ZachXBT, leading to the suspects’ arrest and the recovery of $9 million. The FBI raided a home in Miami, and one of the criminals was arrested in Los Angeles.