Saylor Fooled by Fake Trump News, Kraken Reorganizes, and More: Hodler’s Digest, Oct. 27 – Nov. 2
Michael Saylor, with a Twitter following of 3.6 million, recently found himself sharing false information about Donald Trump’s views on cryptocurrency. The misinformation claimed that Trump stated crypto shouldn’t be taxed and that “Bitcoin is money.” However, closer inspection revealed that this quote was falsely attributed to Trump and originated from an account called Basedkarbon, not the Republican candidate himself.
Kraken, a popular cryptocurrency exchange, announced a restructure featuring a new co-CEO, Arjun Sethi. The company is also undergoing a managerial shakeup, with rumors of staff layoffs. Sethi, a co-founder and chairman of Tribe Capital, has been on the Kraken board since 2021. He will share the co-CEO position with David Ripley. The exchange also hinted at fundamental changes in their organizational structure to become “leaner and faster.”
Nishad Singh, a former engineering director at FTX, recently received a sentence of time served and three years of supervised release for his involvement in misappropriating user funds and campaign finance violations. This comes after Singh was accused of fraudulent activities involving FTX executives, including former CEO Sam Bankman-Fried. Singh expressed remorse for his actions in court, stating he was overwhelmed with regret for his role in the FTX saga.
In light of the upcoming United States presidential election, some industry analysts speculate that a Trump victory could provide a boost to the crypto market. However, they advise investors to proceed with caution due to the potential market volatility during this period. Traders are advised to approach the situation carefully, as the risks associated with significant price movements are equally substantial.
OpenAI recently introduced a new feature for its ChatGPT AI chatbot called ChatGPT Search, enabling users to ask questions and search the web for answers. This update aims to provide more relevant information to users promptly and effectively within the chatbot application. The feature allows users to access faster answers with relevant web sources directly, eliminating the need to visit a separate search engine.
As the week came to a close, Bitcoin was valued at $69,332, Ether at $2,510, and XRP at $0.51. The total market cap reached $2.32 trillion, according to CoinMarketCap data. Among the top 100 cryptocurrencies, the biggest gainers were Raydium, Dogecoin, and Maker, whereas the biggest losers were Immutable, Celestia, and Arweave. For more details, refer to Cointelegraph’s market analysis to stay informed about the current cryptocurrency prices.
