The global crypto market cap is at $1.06 trillion, with Bitcoin trading at $26,621.54. Analysts are expecting Bitcoin to drop further in the near term.
JPEX Hong Kong Investigates Influencer-Backed Crypto Exchange
JPEX Hong Kong, a cryptocurrency exchange, is investigating an influencer-backed crypto exchange. 11 people have been arrested in a potential $166 million fraud case.
ByBit to Suspend UK Operations Due to New FCA Regulations
ByBit, a crypto exchange, will suspend its UK operations on October 8th due to new regulations from the Financial Conduct Authority (FCA).
FCA Issues Final Warning to Non-Compliant UK Crypto Firms
The FCA has issued a final warning to non-compliant UK crypto firms regarding new promotion rules. The new rules will take effect soon.
Cardano Reveals Project Catalyst Fund 10 Winners
Cardano has revealed the winners of Project Catalyst fund 10. The fund will distribute $50 million in ADA to the winning projects.
Ripple Moves 75 Million Unlocked XRP
Ripple has moved 75 million unlocked XRP. This has led to speculations about potential developments, such as a settlement or purchase.
BitBoy Crypto Allegedly Holds $80 Million in XRP, Asks for Community Donations
BitBoy Crypto, a cryptocurrency YouTuber, has claimed to hold $80 million in XRP. However, this claim has been met with skepticism from the community.
Japanese Exchange GMO Offers XRP Users Yen for Delayed Songbird Airdrop
GMO, a Japanese cryptocurrency exchange, is offering XRP users Yen for the delayed Songbird airdrop.
Conclusion
The crypto industry faces several challenges, including regulatory hurdles, potential fraud cases, and uncertainty surrounding BitBoy Crypto’s holdings. However, there are also positive developments, such as Cardano’s Project Catalyst fund 10 and Ripple’s recent XRP movements.
