Weekly Crypto News (October 27th to November 2nd): SafeMoon’s CEO Arrest, FTX & More

Crypto News

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.

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. As per Lookonchain tweet and Arkham Intelligence data, this amount of different tokens bid farewell to FTX wallets

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

In total, approximately $19 Million worth of crypto tokens was transferred. 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.

This news started trending a few hours before SBF’s criminal court trial. To get detailed insights into this highly publicized court trial, click here:

Ripple’s Price Going to Surge, XRP Going to Make History on November 8-9?

A few days ago, the crypto landscape was singing the songs of joy and happiness as one prominent member and price analyst of the XRP community posted one tweet. With over 57K followers on X (formerly Twitter), XRP Caption tweets,

Save the Date #XRP Could Make History on This Date

Alongside this caption, XRP Caption posted a screenshot indicating the Ripple Swell Event scheduled for Nov 8th and 9th.

The tweet went viral in a few hours, resulting in excitement among crypto enthusiasts as a caption under the image indicates the hints that XRP’s price is going to surge on Nov 8th and 9th.

The chances are pretty high, as the event will be held in Dubai for the first time an in-person conference. For the past three years, the event has been held virtually due to the COVID-19 pandemic. But, this time, it looks grand and epic as representatives of over 40 countries will present at the conference.

So, crypto investors should start counting the days until November 8th, as XRP can make history on this date.

15th Anniversary of Bitcoin’s Whitepaper, Joël Lightbound & Gary Gensler Congratulates

On October 31st, 2008, the financial landscape was revolutionized with the debut of a nine-page document of Bitcoin Whitepaper. This seminal document marked the beginning of the new chapter of decentralized digital currency that later redefined the financial world. What a coincidence it is; Bitcoin is celebrating its 15th anniversary, and recently, its prices reached a new high, soaring over $35,000K, ending the dull phase of the digital currency. The impact of Bitcoin on the financial landscape is unmeasurable, and that’s why many prominent personalities gave warm statements about leading digital currencies. Joël Lightbound, the Canadian Member of Parliament, celebrated Bitcoin’s 15th anniversary in his speech.

Moreover, Gary Gensler (SEC’s chairman) commemorates Bitcoin’s 15th anniversary by posting a tweet on X.

DOJ Arrests SafeMoon’s CEO and CTO on Money Laundering Charges, SEC Made Serious Allegations

On November 1st, the crypto world woke up to new drama. This time, it is no FTX or Binance; it’s SafeMoon. This newly emerged cryptocurrency was launched in 2021, and within two years, SafeMoon got involved in big criminal drama. The US DOJ (Department of Justice) arrested SafeMoon’s CEO and CTO (Chief Technology Office) for withdrawing over $200M from funds to buy luxury cars and homes. According to the regulator, SafeMoon’s team told investors that their funds had been locked, but in reality, they were misusing their capital. Within hours of the news going viral, the SFM token’s prices fell more than 30%.

Moreover, the SEC also entered the scene by charging SafeMoon’s CEO and CTO for violating securities (unregistered sale of the crypto assets). Furthermore, the SEC also highlighted that SafeMoon illegally made large purchases of their tokens to manipulate the market.

PayPal Successfully Registered with FCA in the U.K., but its Services are Still Restricted

On October 31st, PayPal (a renowned payment giant) successfully registered with the FCA (Financial Conduct Authority) to provide crypto services in the U.K. Despite getting registered successfully, PayPal is restricted from launching its crypto services, DeFi activities, and ICO services in the U.K. This registered but still restricted drama is no new to crypto landscape as FCA’s crypto regulations and laws are so challenging for crypto firms to fulfill. That’s a reason many big crypto companies, including Binance, made an exit from the country.

Price Predictions:

Dogecoin 2200% Breakout Nearby?

A crypto analyst, Ali Martinez, posted an analysis of Dogecoin on X (formerly Twitter), indicating a 2200% breakout for the renowned meme coin.

Will Solana’s Price Surge to $50?

In the past few days, Solana’s price has skyrocketed with a growth of 134%, leaping from $17.4 to $41 currently. Analysts are predicting Solana’s price to further reach $50.

1300% XRP Price Breakout Nearby?

The XRP’s prices are also predicted to rise further with a 1300% breakout as the Ripple Swell Event is going to be organized on Nov 8th – 9th.

Bitcoin’s Price to Reach $43,000?

Currently, BTC is trading at $35,112, and many predictions have been made for Bitcoin to reach $43,000 by November 6th.

Stay Tuned for Further Crypto Updates!

All! Crypto enthusiast. Read our weekly crypto news blogs to stay up-to-date with the digital landscape. At the end of every week, we publish detailed blog posts discussing top crypto headlines that have made loud noise worldwide. As a part of our weekly edition, these blog posts are meant to provide you with brief information in an easy manner. Coin Informer is dedicated to publishing informative news blogs to make you aware of the recent updates in the crypto market. So, connect with Coin Informer to get top crypto news.