{"id":13452,"date":"2023-09-30T21:47:32","date_gmt":"2023-09-30T21:47:32","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=13452"},"modified":"2023-09-30T21:47:37","modified_gmt":"2023-09-30T21:47:37","slug":"ether-futures-etfs-launching-sbf-trial-to-begin-3acs-su-zhu-arrested","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13452","title":{"rendered":"Ether futures ETFs launching, SBF trial to begin, 3AC\u2019s Su Zhu arrested"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<h2 class=\"wp-block-heading\" id=\"h-top-stories-this-week\"><strong>Top Stories This Week<\/strong><\/h2>\n<h2 class=\"wp-block-heading\" id=\"h-ethereum-futures-etfs-to-start-trading-next-week\"><strong>Ethereum futures ETFs to start trading next week<\/strong><\/h2>\n<p>Investment firm Valkyrie will start offering exposure to Ether futures in the coming days. On Sept. 28, the firm told Cointelegraph that its Bitcoin Strategy ETF will allow investors access to Ether and Bitcoin futures \u201cunder one wrapper,\u201d making it one of the first firms to do so amid several pending applications with the U.S. Securities and Exchange Commission. Starting Oct. 3, the fund\u2019s name will be updated to the Valkyrie Bitcoin and Ether Strategy ETF. Asset manager VanEck also disclosed its upcoming Ethereum Strategy ETF, which will be listed on the Chicago Board Options Exchange in the coming days. Analysts suggested that a potential U.S. government shutdown might have accelerated the launch of Ether futures ETFs.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-sbf-trial-dates-revealed-ftx-founder-to-stand-trial-over-6-weeks\"><strong>SBF trial dates revealed: FTX founder to stand trial over 6 weeks<\/strong><\/h2>\n<p>Former FTX CEO Sam \u201cSBF\u201d Bankman-Fried will spend at least 21 days in court as part of his criminal trial, which will begin in earnest on Oct. 4 and last until Nov. 9, according to a newly released trial calendar posted to the public court docket. The first official date of the Bankman-Fried trial is Oct. 4, where the participants will begin discussing seven fraud charges laid against SBF. There are two substantive charges where the prosecution must convince a jury that Bankman-Fried committed the crime. Five other \u201cconspiracy\u201d charges involve the prosecution convincing a jury that Bankman-Fried planned to commit the crimes. The former FTX CEO has been serving pre-trial detention at the Brooklyn Metropolitan Detention Center since Aug. 11. If considered guilty of fraud, Bankman-Fried is likely to spend the rest of his life in prison, legal specialists explained to Cointelegraph.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-3ac-s-su-zhu-arrested-in-singapore\"><strong>3AC\u2019s Su Zhu arrested in Singapore<\/strong><\/h2>\n<p>Co-founder of Three Arrows Capital (3AC) Su Zhu was detained at Changi Airport in Singapore while trying to leave. Teneo, the joint liquidator of the now-bankrupt hedge fund, told Cointelegraph that Zhu\u2019s arrest followed a committal order from the Singapore Courts, which is a directive used to imprison someone for contempt of court. On Sept. 25, Teneo secured this committal order, alleging that Zhu didn\u2019t comply with a court order. His arrest is part of an ongoing investigation to retrieve funds for 3AC\u2019s creditors. The $10 billion hedge fund crashed in 2022 due to the collapse of the Terra ecosystem. A similar committal order was granted against Kyle Davies, also co-founder of 3AC. His whereabouts remain unknown.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-binance-urges-users-to-convert-euros-to-usdt-after-paysafe-debank\"><strong><strong>Binance urges users to convert euros to USDT after Paysafe debank<\/strong><\/strong><\/h2>\n<p>Binance has warned its European users to convert their euro (EUR) balances to Tether by Oct. 31 due to the loss of support from its banking partner, Paysafe. Paysafe ceased processing EUR deposits for Binance users on Sept. 25. While EUR withdrawals to bank accounts remain available, Paysafe users won\u2019t be able to engage in EUR spot trading. Binance\u2019s token swap feature, Binance Convert, will also restrict EUR transactions. Paysafe previously facilitated fiat deposits and withdrawals for Binance users in Europe, including via bank transfer in the European Union\u2019s Single Euro Payments Area. The move is the latest to add to Binance\u2019s regulatory and debanking woes in the West.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-sec-delays-spot-bitcoin-etf-decision-for-blackrock-invesco-and-bitwise\"><strong>SEC delays spot Bitcoin ETF decision for BlackRock, Invesco and Bitwise<\/strong><\/h2>\n<p>The U.S. Securities and Exchange Commission has again postponed its decision on several spot Bitcoin ETF applications, including those from BlackRock, Invesco, Bitwise and Valkyrie, ahead of a potential government shutdown. Bloomberg ETF analyst James Seyffart anticipates similar delays for Fidelity, VanEck, and WisdomTree. These delays came two weeks before the applicants\u2019 expected second deadline. Seyffart links the premature delays to an anticipated U.S. government shutdown on Oct. 1, which would impact financial regulators and federal agencies.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-winners-and-losers\"><strong>Winners and Losers<\/strong><\/h2>\n<p>At the end of the week, Bitcoin <strong>(<\/strong><strong>BTC<\/strong><strong>)<\/strong> is at <strong>$26,895<\/strong>, Ether <strong>(<\/strong><strong>ETH<\/strong><strong>)<\/strong> at <strong>$1,667<\/strong> and <strong>XRP<\/strong> at <strong>$0.53<\/strong>. The total market cap is at <strong>$1.07<\/strong> trillion, according to CoinMarketCap.<\/p>\n<p>Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Compound <strong>(COMP) <\/strong>at 23.71%, Chainlink <strong>(LINK) <\/strong>at 15.12% and THORchain <strong>(RUNE) <\/strong>at 14.51%.\u00a0<\/p>\n<p>The top three altcoin losers of the week are Immutable <strong>(IMX) <\/strong>at -9.80%, UNUS SED LEO <strong>(LEO) <\/strong>at -5.38% and XDC Network <strong>(XDC)<\/strong> at -4.61%.<\/p>\n<p>For more info on crypto prices, make sure to read Cointelegraph\u2019s market analysis.<\/p>\n<p>Read also<\/p>\n<p>                            Features<\/p>\n<p>Inside South Korea\u2019s wild plan to dominate the metaverse<\/p>\n<p>                            Features<\/p>\n<p>Unstablecoins: Depegging, bank runs and other risks loom<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-most-memorable-quotations\"><strong>Most Memorable Quotations<\/strong><br \/><\/h2>\n<p>\u201cYou [Gary Gensler] are kneecapping the U.S. capital markets with the avalanche of red tape coming out of your commission.\u201d<\/p>\n<p><strong>Andy Barr<\/strong><strong>, U.S. representative<\/strong><\/p>\n<p>\u201cA central bank that introduces a CBDC should increase the choices for society, not diminish them.\u201d<\/p>\n<p><strong><strong>Agust\u00edn Carstens<\/strong><strong>, general manager at the Bank of International Settlements<\/strong><\/strong><\/p>\n<p>\u201cLooking like the SEC is gonna let a bunch of #Ethereum futures ETFs go next week potentially.\u201d<\/p>\n<p><strong>James Seyffart<\/strong><strong>, analyst at Bloomberg Intelligence<\/strong><\/p>\n<p>\u201cDo you think it\u2019s possible for you [Gary Gensler] to serve as an impartial regulator and not favor large financial intermediaries?\u201d<\/p>\n<p><strong>Tom Emmer<\/strong><strong>, U.S. representative<\/strong><\/p>\n<p>\u201c[Stablecoins] will be a big driver of economic freedom in the decade ahead.\u201d<\/p>\n<p><strong>Jesse Pollak<\/strong><strong>, head of protocols at Coinbase<\/strong><\/p>\n<p>\u201cThe symbiosis between street art and Bitcoin is a powerful one. By working together, these two movements help to create a more just and equitable world.\u201d<\/p>\n<p><strong>Street<\/strong><strong>, pseudonymous co-founder of the Street Cy\u20bfer artist collective<\/strong><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-prediction-of-the-week-nbsp\"><strong>Prediction of the Week\u00a0<\/strong><\/h2>\n<p><strong>Bitcoin shorts keep burning as BTC price seeks to hold $27K<\/strong><\/p>\n<p>Bitcoin (BTC) bounced around $27,000 on Sept. 29 as a challenge to month-to-date highs dragged BTC price action upward. Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency attempting to hold gains after a classic \u201cshort squeeze.\u201d<\/p>\n<p>The day prior offered a trip past the $27,000 mark, with Bitcoin bulls unable to seal a fresh peak for September. Topping out at $27,300 on Bitstamp, BTC price strength returned to consolidate, still up 4% versus the week\u2019s low at the time of writing.<\/p>\n<p>Analyzing the situation on low timeframes (LTFs), popular pseudonymous trader Skew said that the upside had come courtesy of derivatives markets, with spot traders selling at the highs. \u201cLTF stuff but pretty clear spot absorption around the high so $27.2K is an important price area to clear for spot buyers,\u201d he explained on X (formerly Twitter).<\/p>\n<p>Skew subsequently noted that $27,200 remained a rejection point on the day, ahead of the Wall Street open. Going into next week, he added, the market was \u201clikely to hunt both sides of the book.\u201d<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-fud-of-the-week-nbsp\"><strong>FUD of the Week\u00a0<\/strong><\/h2>\n<h3 class=\"wp-block-heading\" id=\"h-\"><\/h3>\n<h2 class=\"wp-block-heading\" id=\"h-ben-bitboy-armstrong-arrested-on-livestream-over-lambo-dispute\"><strong>Ben \u2018BitBoy\u2019 Armstrong arrested on livestream over Lambo dispute<\/strong><\/h2>\n<p>Crypto influencer Ben Armstrong, formerly known as \u201cBitBoy,\u201d was arrested on Sept. 25 while livestreaming outside a former business associate\u2019s house, claiming the associate had his Lamborghini. He was charged with \u201cloitering\/prowling\u201d and \u201csimple assault by placing another in fear\u201d and was held for over eight hours before being released on a $2,600 bond and $40 in fees. In Georgia, the misdemeanor charges of loitering and prowling could result in a fine of up to $1,000, up to one year in jail, or both.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-crypto-exchange-claiming-1-4b-trading-volume-uses-reportedly-fake-license-data\"><strong>Crypto exchange claiming $1.4B trading volume uses reportedly fake license data<\/strong><\/h2>\n<p>An investigation by Cointelegraph revealed that several cryptocurrency platforms, reporting significant daily trades on CoinMarketCap, may have provided misleading information about their crypto licenses. Bitspay, for instance, which has a daily trading volume of $1.4 billion on CoinMarketCap and ranks as the fourth-largest crypto exchange, claimed to be licensed in Estonia. However, after inquiries by Cointelegraph, Bitspay quickly removed the potentially false license data and no longer provides details about its registration or licensing.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-huobi-global-hacked-for-7-9m-report\"><strong><strong><strong>Huobi Global hacked for $7.9M: Report<\/strong><\/strong><\/strong><\/h2>\n<p>Huobi Global\u2019s HTX crypto exchange was hacked on Sept. 24, according to a report from blockchain analytics platform CyVers. A total of $7.9 million of crypto has been drained in the attack. A known Huobi hot wallet posted a message to the attacker in Chinese. According to the message, the exchange knows the identity of the attacker and has offered to let them keep 5% of the drained funds as a \u201cwhite-hat bonus,\u201d but only if the attacker returns the remaining 95%. Binance CEO Changpeng \u201cCZ\u201d Zhao offered the help of the exchange\u2019s security team in investigating the attack.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-blockchain-detectives-mt-gox-collapse-saw-birth-of-chainalysis\"><strong>Blockchain detectives: Mt. Gox collapse saw birth of Chainalysis<\/strong><\/h2>\n<p>From solving Mt. Gox to tracing crypto used by child abuse syndicates in Korea, Chainalysis has a long but sometimes controversial history.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-us-gov-t-messed-up-my-250k-bitcoin-price-prediction-tim-draper-hall-of-flame\"><strong>US gov\u2019t messed up my $250K Bitcoin price prediction: Tim Draper, Hall of Flame<\/strong><\/h2>\n<p>Tim Draper\u2019s first big Bitcoin prediction came off without a hitch, but he says the current administration is making his second one look bad.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-china-dev-fined-3-yrs-salary-for-vpn-use-10m-e-cny-airdrop-asia-express\"><strong>China dev fined 3 yrs\u2019 salary for VPN use, 10M e-CNY airdrop: Asia Express<\/strong><\/h2>\n<p>Chinese national fined three years\u2019 salary for using VPN for remote work, Hangzhou airdrops 10M digital yuan, JPEX alleged Ponzi nears $200M, and more.<\/p>\n<p>Subscribe<\/p>\n<p>The most engaging reads in blockchain. Delivered once a<br \/>\n        week.<\/p>\n<h2 class=\"author__name\">Editorial Staff<\/h2>\n<p>Cointelegraph Magazine writers and reporters contributed to this article.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/magazine\/ether-futures-etfs-launching-sbf-trial-to-begin-and-3acs-su-zhu-arrested-hodlers-digest-sept-24-30\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Top Stories This Week Ethereum futures ETFs to start trading next week Investment firm Valkyrie will start offering exposure to Ether futures in the coming days. On Sept. 28, the firm told Cointelegraph that its Bitcoin Strategy ETF will allow investors access to Ether and Bitcoin futures \u201cunder one wrapper,\u201d making it one of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13453,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-13452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13452"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13452\/revisions"}],"predecessor-version":[{"id":13454,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13452\/revisions\/13454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13453"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}