Here’s what happened in crypto today
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
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Collect this article as NFTToday in crypto, speculation about the identity of Bitcoin creator Satoshi Nakamoto has intensified ahead of HBO’s documentary. The crypto wallet address shared by American A-list celebrity rapper Cardi B while promoting WAP tokens has been traced back to a seasoned crypto scammer. Meanwhile, the top court in the United States has seemingly cleared the government to sell $4.4 billion worth of Silk Road’s Bitcoin.
Debate over Satoshi’s identity intensifies ahead of HBO doc
Speculation about the identity of Satoshi Nakamoto has intensified ahead of the highly anticipated HBO documentary that purports to unmask the pseudonymous Bitcoin creator.
A new report by 10x Research has revisited two leading theories about Nakamoto’s identity—one pointing to cryptographer Nick Szabo and the other signaling involvement by the US National Security Agency (NSA).
10x Research noted Szabo’s influence on cryptography, highlighting his proposal for Bitcoin’s precursor, “Bit Gold,” in the 1990s.
The researchers also pointed to the NSA’s expertise in technology for the organization’s potential role in Bitcoin’s creation.
As Cointelegraph reported, Szabo recently overtook late cryptographer Len Sassaman as HBO’s Nakamoto reveal.
However, by the latter stages of Oct. 8, Adam Back—a familiar name in the Bitcoin community—was the odds-on favorite to be outed as Nakamoto, according to Polymarket.
HBO will broadcast the documentary, dubbed “Money Electric: The Bitcoin Mystery,” on Oct. 8 at 9 pm ET (01:00 UTC on Oct. 9).
WAP crypto token promoted by Cardi B traced to scam origins
On Oct. 8, Cardi B’s official X account shared a promotional post for WAP, a cat-themed memecoin and abbreviation of “Wet Ass Pussy.” Along with a video of WAP’s mascot, an animated cat, Cardi B shared a wallet address, which was flagged by crypto investigators.
Source: Cardi B
Pseudonymous blockchain sleuth Wazz’s initial investigation revealed that Cardi B’s wallet address had links to numerous rug pull projects. Crypto investigation firm PeckShield suspected that a crypto scammer hacked Cardi B’s X account.
BubbleMaps, a blockchain data visualization platform, found that 60% of the WAP supply was bundled at launch. Moreover, it noted that around $500,000 worth of tokens had already been dumped within 10 hours of the project’s launch.
According to Bubblemaps, 15 crypto addresses were previously funded by a crypto exchange wallet. The same address transferred their WAP holdings, spread across roughly 100 wallets. The firm added:
“In an attempt to hide from Bubblemaps, all wallets involved in the bundling transferred their tokens one-to-one to brand-new addresses 4 hours ago. Good try.”
Supreme Court won’t hear case over $4.4 billion Bitcoin from Silk Road
The United States Supreme Court declined to hear a case over the ownership of 69,370 Bitcoin (BTC) — worth $4.38 billion — that the US government seized from the dark web marketplace Silk Road.
Battle Born Investments, a company that claimed it had purchased rights to the seized stash, tried to bring its case to the top court after its claims were knocked back by a district court, then an appeals court.
The Supreme Court’s refusal of the case could clear the US government to now sell the Bitcoin.
Battle Born previously failed to convince the courts that it acquired the BTC through a bankruptcy claim from Raymond Ngan — a debtor from the case — who it alleged was the mysterious so-called “Individual X” who stole billions of dollars of Bitcoin from Silk Road.
Both courts were not convinced, and a San Francisco appellate court judge tossed the case last year, saying the firm didn’t have a valid claim to the BTC haul.
It’s not clear what the government will do with the stash, but it’s already moved around $2 billion worth of the Silk Road-linked Bitcoin on July 29.
Today in crypto, the crypto wallet address shared by American A-list celebrity rapper Cardi B while promoting WAP tokens has been traced back to a seasoned crypto scammer, the top court in the United States has seemingly cleared the government to sell $4.4 billion worth of Silk Road’s Bitcoin, and a bankruptcy judge has approved FTX’s bankruptcy plan.
WAP crypto token promoted by Cardi B traced to scam origins
On Oct. 8, Cardi B’s official X account shared a promotional post for WAP, a cat-themed memecoin and abbreviation of “Wet Ass Pussy.” Along with a video of WAP’s mascot, an animated cat, Cardi B shared a wallet address, which was flagged by crypto investigators.
Pseudonymous blockchain sleuth Wazz’s initial investigation revealed that Cardi B’s wallet address had links to numerous rug pull projects. Crypto investigation firm PeckShield suspected that a crypto scammer hacked Cardi B’s X account.
BubbleMaps, a blockchain data visualization platform, found that 60% of the WAP supply was bundled at launch. Moreover, it noted that around $500,000 worth of tokens had already been dumped within 10 hours of the project’s launch.
According to Bubblemaps, 15 crypto addresses were previously funded by a crypto exchange wallet. The same address transferred their WAP holdings, spread across roughly 100 wallets. The firm added:
“In an attempt to hide from Bubblemaps, all wallets involved in the bundling transferred their tokens one-to-one to brand-new addresses 4 hours ago. Good try.”
Supreme Court won’t hear case over $4.4 billion Bitcoin from Silk Road
The United States Supreme Court declined to hear a case over the ownership of 69,370 Bitcoin (BTC) — worth $4.38 billion — that the US government seized from the dark web marketplace Silk Road.
Battle Born Investments, a company that claimed it had purchased rights to the seized stash, tried to bring its case to the top court after its claims were knocked back by a district court, then an appeals court.
The Supreme Court’s refusal of the case could clear the US government to now sell the Bitcoin.
Battle Born previously failed to convince the courts that it acquired the BTC through a bankruptcy claim from Raymond Ngan — a debtor from the case — who it alleged was the mysterious so-called “Individual X” who stole billions of dollars of Bitcoin from Silk Road.
Both courts were not convinced, and a San Francisco appellate court judge tossed the case last year, saying the firm didn’t have a valid claim to the BTC haul.
It’s not clear what the government will do with the stash, but it’s already moved around $2 billion worth of the Silk Road-linked Bitcoin on July 29.
FTX reorganization plan approved
On Oct. 7, US Bankruptcy Judge John Dorsey approved a plan for failed crypto exchange FTX to wind down its operations and repay its depositors.
According to the hearing, which took place in the District Court of Delaware, Judge Dorsey approved FTX’s liquidation plan. Under the approved plan, FTX can repay 98% of its users roughly 119% of their account value.
ens the door to more than $16 billion in repayments.
“The Court’s confirmation of our Plan is a significant milestone on our pathway to distributing cash to customers and creditors,” said FTX CEO John J. Ray III.
“Looking ahead, we are poised to return 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” he added.
The court decision came nearly two years after FTX first filed for bankruptcy. The exchange’s collapse was described as the crypto industry’s Lehman moment.
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