Ripple CEO Breaks Silence on SEC’s Appeal, SHIB Exec Shares Market Rule Number 1 About ‘Uptober’ Pump, Dormant BTC Whale Sees 7,240% Gains as ‘Uptober’ Begins: Crypto News Digest by U.Today

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As a seasoned crypto investor with over a decade of experience under my belt, I must admit that the past day has been quite eventful in the world of digital assets.

U.Today has prepared the top three news stories over the past day.

“Infuriating”: Ripple CEO breaks silence on SEC’s appeal

Last Wednesday, October 2nd, the XRP community experienced a jolt due to the SEC’s decision to escalate the Ripple lawsuit. This move sparked reactions from several influential figures within the crypto sphere, with Ripple’s CEO, Brad Garlinghouse, among the first to voice his opinion. In a recent post on X, Garlinghouse expressed that he believed the SEC and its chairman, Gary Gensler, should have abandoned their legal action against Ripple, as it has not safeguarded investors and has tarnished the agency’s reputation. Using terms like “infuriating” and “misguided,” the CEO of Ripple declared that his company would continue to battle in court for however long it takes. As of now, the SEC remains vague about the specific aspect of the case they intend to appeal, potentially targeting the July 2023 ruling that distinguished institutional sales from routine sales. They could also challenge the final judgment handed down by the court in August.

Market rule number one about “Uptober” pump shared by SHIB executive

Shiba Inu marketing lead Lucie has recently taken to X platform to address the community’s concerns regarding the current “Uptober” not meeting their expectations. In her post from yesterday, she shared “market rule #1,” which covers not only “Uptober” but the way things work on the market for traders in general. According to the rule, the nature of market forces is unpredictable, and assets may surge either right after selling or unexpectedly at other times: “Market rule #1: It will pump the second you sell OR It pumps the moment you don’t expect it.” Concluding her post, Lucie wrote that “Uptober” is not just a 31-day period but a time for potential surprise gains. Meanwhile, SHIB caught a recovery wave, trading up 10.72% over the past 24 hours at $0.00001737 at the moment of writing, per CoinMarketCap.

7,240% Bitcoin gains made by dormant BTC whale as “Uptober” kicks off

On October 3rd, the Whale Alert service identified a long-dormant Bitcoin wallet from 2014 that now holds 99 BTC. Remarkably, this wallet’s value has skyrocketed from $83,068 to around $6,097,440, equating to an astounding 7,240% increase. This is the fourth Bitcoin wallet that has emerged from dormancy this week. On October 1st, another wallet holding 21 BTC since 2013 was activated, with its holdings now worth $1,307,996. On the same day, two other wallets, containing 41 BTC valued at $2,611,481 and 77 BTC worth $4,902,160, were also reactivated. The resurrection of these ancient whale wallets coincides with October, a month historically associated with Bitcoin rallies, often referred to as “Uptober”. At present, Bitcoin is being traded at $61.632, marking a 2.51% increase over the past 24 hours based on data from CoinMarketCap.

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2024-10-04 18:54