Saylor duped by fabricated Trump news, Kraken reorganizes, and more: Hodler’s Digest, Oct. 27 – Nov. 2

This week has been packed with some interesting stories from the crypto world. Here’s a recap of what went down from Oct. 27 to Nov. 2:

First up, with the US Election Day almost here, misinformation about the candidates’ policy positions is running rampant. MicroStrategy’s Michael Saylor mistakenly shared a post on Twitter claiming Donald Trump said, “Bitcoin is money” and shouldn’t be taxed. Turns out, the quote originated from an unreliable source. It’s crucial to verify information before sharing it, especially during such a critical time.

On the Kraken front, the cryptocurrency exchange has brought in a new co-CEO, Arjun Sethi, signaling a substantial shakeup in management. There are reports that Kraken has let go of 15% of its workforce as part of the restructuring. The company expressed a need to become more agile and streamlined in its operations, moving away from an overly hierarchical structure.

In other news, an ex-FTX exec, Nishad Singh, received a sentence of time served and three years of supervised release in connection with fiduciary misconduct and campaign finance violations. Singh expressed remorse for his role in the saga at FTX.

As the US election approaches, market analysts anticipate that a victory for Donald Trump could trigger a significant rally in the crypto space. However, traders are advised to remain cautious due to the potential for heightened market volatility.

OpenAI also made strides this week with the launch of ChatGPT Search, which allows users to search the web directly from their interactions with the AI chatbot. This new feature enhances ChatGPT’s capabilities and provides users with more accurate and timely information.

Lastly, taking a look at the crypto market, Bitcoin is currently priced at $69,332, Ether at $2,510, and XRP at $0.51. The total market cap sits at $2.32 trillion. The biggest gainers of the week include Raydium, Dogecoin, and Maker, while the top losers are Immutable, Celestia, and Arweave.

That’s the roundup for this week in the crypto world. Stay informed, stay safe, and always fact-check information before sharing it. See you next week!