| XRP Community Is Threatening a 'Takeover' if Ripple Execs Keep Dumping
What is this all about?
Ripple's quarterly reports have consistently revealed the high number of XRP tokens the company is selling to fund its investments in different firms that have the potential to grow the XRP ecosystem and to fund its operations.
How did the crypto community react to this?
Anger about the negative market consequences of Ripple selling XRP to its clients is prompting token holders to conceive of ever-more ingenious means to fight back. "We will stage a community takeover," XRP holders threaten Ripple over its alleged token dumping.
Sudden Slump Sees Bitcoin Lose Support for Five Figures
What happened?
After managing to maintain support above $10,000, Bitcoin finally succumbed to bearish pressure this week — shedding $500 in a matter of minutes on Wednesday to stabilize at about $9,500. Altcoins weren't immune to the sell-off either. Some, including Ether and Binance Coin, actually fared far worse in comparison.
What did analysts say?
Analysts have warned that monthly charts are also looking ugly, but optimists say conditions in the Bitcoin market at present are not too dissimilar to the middle of 2016 when momentum was about to start taking the world's biggest cryptocurrency to its record high of $20,000. It's fair to say that other predictions haven't aged all that well. Nigel Green, the CEO and founder of financial consultancy firm deVere Group, said he believed $10,000 was the new normal bottom price for Bitcoin — a support level that was wiped out a day later.
Craig Wright Must Forfeit 50% of Bitcoin in Court Case What is this all about?
The long-running case between Australian entrepreneur Craig Wright and the family of his late business partner, Dave Kleiman, looked like it was reaching its grand finale this week. A judge has ordered Wright to pay Kleiman's brother Ira a whopping 500,000 BTC — approximately half of the sum that the self-proclaimed Satoshi Nakamoto allegedly stole.
How did Wright respond?
In an interview after the bombshell ruling, Wright suggested that the payout — worth approximately $5 billion — could inspire fresh volatility in the market, as the Kleimans may have to offload a substantial amount of BTC in order to pay federal estate taxes at a rate of 40%. With many of Wright's supporters falling silent, Bitcoin SV (BSV) proponent Calvin Ayre seemed to be a lone voice speaking out in his favor — and even then, Ayre erroneously claimed that a court had declared that Wright invented Bitcoin.
Bitcoin Price 93% Unlikely to Hit $20,000 by End of 2019, Data Claims
What is this all about?
New analysis suggests the odds are lengthening for investors betting on records being broken in 2019. There is now a 93% chance that this milestone will not be reached.
Is that all there is?
Not all forecasts are pessimistic, and according to LedgerX's Oracle, there is a 31% chance of BTC/USD hitting $15,000 by Dec. 28. Moreover, October is being billed as "the most interesting month" for Bitcoin because of how the U.S. Securities and Exchange Commission is set to approve two Bitcoin exchange-traded funds (ETFs) — a review that could deliver a "watershed moment."
Chinese Central Bank 'Crypto' Not Launching in November: State Media What happened?
Confusion has been swirling around the People's Bank of China's plans to launch a form of digital legal tender — namely, when it becomes publicly available, and how it will work. There had been murmurings that the cryptocurrency could appear as soon as November, but a Chinese state-backed newspaper has since stated such reports are inaccurate.
What else is there to know?
Beijing is widely regarded to be in a race with Facebook — and, by extension, the U.S. — to launch the first digital currency on such an immense scale. Earlier in the week, another report had suggested that the online retail giant Alibaba and internet behemoth Tencent would be among the first eight organizations in China to be given access to the mysterious crypto.
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