Weekly Crypto News (October 27th to November 2nd): SafeMoon’s CEO Arrest, FTX & More
Nova Reyes
Markets Navigator
For the past few days, there’s been a lot going on in the crypto market. Are you feeling too lazy to read every article to find top crypto news? There’s no need to do that. Read this weekly crypto news blog post to make yourself aware of all top updates.
TL;DR
This week in crypto news includes significant updates such as FTX transferring $19 million worth of crypto, the arrest of SafeMoon’s CEO, and predictions for XRP's price surge.
Key Takeaways
- FTX transferred $19 million worth of crypto tokens to various exchanges.
- SafeMoon’s CEO and CTO were arrested on money laundering charges.
- XRP's price may surge around the Ripple Swell Event on November 8-9.
- Bitcoin celebrates its 15th anniversary with a price increase.
- PayPal registered with the FCA in the U.K., but services remain restricted.
FTX Transferred $19 Million Worth of Crypto Tokens to Different Exchanges
Before Bankman’s criminal court on Thursday afternoon, bankrupt crypto exchange FTX moved $19 million worth of crypto to different exchanges. Blockchain data revealed this info on October 27th, 2023. According to Lookonchain and Arkham Intelligence, the following tokens were transferred:
- 253,862 $LINK (Worth $2.67M)
- 1.59M $AGLD (Worth $1.34M)
- 469,587 $SOL (Worth $15.2M): Out of this, 250K $SOL (Worth $8.1M) was transferred to exchanges, 170K $SOL ($5.5M) to Binance, and 80K $SOL ($2.6M) to Coinbase.
The transfer was made as the U.S. Bankruptcy Court gave permission to FTX to sell or stake its remaining digital asset stash last month.
Ripple’s Price Going to Surge, XRP Going to Make History on November 8-9?
A few days ago, the crypto landscape was abuzz with excitement as a prominent member of the XRP community tweeted about the upcoming Ripple Swell Event scheduled for Nov 8th and 9th. The tweet indicated that XRP could make history on these dates, generating significant anticipation among investors.
15th Anniversary of Bitcoin’s Whitepaper
On October 31st, 2008, the Bitcoin Whitepaper was released, marking the beginning of decentralized digital currency. Bitcoin is celebrating its 15th anniversary, and its price recently soared over $35,000, ending a dull phase for the digital currency. Joël Lightbound, a Canadian Member of Parliament, and Gary Gensler, SEC chairman, both acknowledged this milestone.
DOJ Arrests SafeMoon’s CEO and CTO on Money Laundering Charges
On November 1st, the crypto world was shocked by the arrest of SafeMoon’s CEO and CTO for allegedly withdrawing over $200 million from funds to buy luxury items. The SEC also charged them for violating securities laws, claiming they misled investors about the status of their funds. Following the news, the SFM token’s price fell by more than 30%.
PayPal Successfully Registered with FCA in the U.K.
On October 31st, PayPal registered with the FCA (Financial Conduct Authority) to provide crypto services in the U.K. However, its services remain restricted due to stringent regulations, a challenge faced by many crypto firms in the country.
Price Predictions
Dogecoin 2200% Breakout Nearby?
Crypto analyst Ali Martinez suggested a potential 2200% breakout for Dogecoin.
Will Solana’s Price Surge to $50?
Solana’s price has recently increased by 134%, and analysts predict it may reach $50.
1300% XRP Price Breakout Nearby?
XRP's price is also expected to rise significantly due to the upcoming Ripple Swell Event.
Bitcoin’s Price to Reach $43,000?
Currently trading at $35,112, Bitcoin is predicted to reach $43,000 by November 6th.
Stay Tuned for Further Crypto Updates!
Stay updated with our weekly crypto news blogs to keep informed about the digital landscape. Coin Informer is dedicated to providing informative news blogs to help you stay aware of recent updates in the crypto market.