The Ethereum Foundation has continued its trend of transferring ETH tokens to external wallets for liquidation amid market volatility.
In its latest move, on-chain data indicates a series of significant transactions involving millions of dollars to the Bitstamp exchange. Specifically, a wallet associated with the Ethereum Foundation deposited 2,500 ETH, valued at approximately $6.06 million, into the Bitstamp exchange today. This transfer was split into two transactions of 1,250 ETH each.
The first transaction occurred at 08:14:35 AM UTC, followed by a second at 08:19:23 AM UTC. The Foundation’s decision to send this substantial amount of ETH tokens to a centralized exchange has led to speculation that it may intend to sell. This move comes at a time when Ethereum is battling bearish pressure. Specifically, ETH has crashed by 3% today.
Notably, the wallet tied to the Foundation had previously received 51,251 ETH from the Ethereum Foundation in November 2015, valued at $51,200 at that time. Remarkably, its value has since increased to approximately $124.5 million.

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The United States Supreme Court refuses to hear a case filed by Battle Born Investments regarding the ownership of 69,370 Bitcoin ($4.32 billion) linked to the dark web marketplace Silk Road. 
There have been legal disputes regarding the ownership of the 69,370 BTC seized by the United States government. In the same year, a district court dismissed Battle Born’s claim that it purchased the right to the Bitcoin. According to the company, it obtained the right to the asset through a bankruptcy estate.

Bitcoin and US
Bitcoin and US
The United States Supreme Court refuses to hear a case filed by Battle Born Investments regarding the ownership of 69,370 Bitcoin ($4.32 billion) linked to the dark web marketplace Silk Road. 
There have been legal disputes regarding the ownership of the 69,370 BTC seized by the United States government. Recall that the U.S. government confiscated most of the funds from James Zhong in 2022. 
Courts Deny Battle Born’s Claim Over Silk Road Bitcoin 
In the same year, a district court dismissed Battle Born’s claim that it purchased the right to the Bitcoin. According to the company, it obtained the right to the asset through a bankruptcy estate. Despite providing screenshots of the wallet where the 69,370 Bitcoins were seized, the court still ruled that Battle Born’s arguments were inadequate. 
Unsatisfied with the verdict, the company appealed the ruling in the U.S. Court of Appeals for the Ninth Circuit the following year. Similarly, the appellate court rejected the claim, finding that Battle Born’s argument was based on mere speculation. 
Now, the apex court in the United States has declined to hear the case, potentially giving the government the green light to sell the Bitcoin. 

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U.S. District Judge John Dorsey approves FTX’s reorganization plan, paving the way for the distribution of $16 billion to customers of the exchange. 
The judge approved the plan yesterday during a Monday hearing in the U.S. Bankruptcy Court for the District of Delaware. Notably, Judge Dorsey praised the plan as a model way of handling Chapter 11 bankruptcies like the FTX case. 
It bears mentioning that 94.48% of FTX Dotcom creditors voted in support of the plan before it was submitted to Judge Dorsey for approval.  

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Bitcoin, the largest crypto asset by market cap, failed to capture the levels above $64,000 again on Monday as unfavorable macroeconomics plunges sustained growth.
Optimism rose among bulls on Monday after Bitcoin surged over 4% in less than an hour to trade above $64,000. However, the bullish push was short-lived as the premier crypto asset dropped from the October 8 high of $64,413 to trade at $62,475 at the time of writing.
Despite bullish sentiments within the crypto community, Bitcoin has failed to sustainably trade at $66,000 since July. Particularly, proponents expecting an explosive run from the asset in “Uptober” have had their hopes dashed, at least for now. However, report shows that the recent underperformance in the Bitcoin price could be tied to unfavorable macroeconomics. These factors have hindered investor traction to the firstborn crypto asset despite a growing global monetary base.
For context, the amount of money circulating globally appreciated from $104 trillion in June to $108 trillion in October, a factor that has historically driven Bitcoin’s price higher.

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Former Ripple director Matt Hamilton believes XRP (XRP) is better than Bitcoin (BTC).  
Matt Hamilton, the former director of Developer Relations at RippleX, believes that XRP is a better crypto asset than Bitcoin, the world’s largest cryptocurrency by market. 
In a recent interview on Mr. M Podcast, the ex-Ripple director focused on the scalability and practicality features of both cryptocurrencies. 

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Ethereum ICO whales are selling large amounts of their holdings, with one recently transferring thousands of ETH tokens to crypto exchange Kraken.
An Ethereum whale, who participated in the initial coin offering (ICO), has been making notable moves recently, transferring another 5,000 ETH, valued at $12.22 million, to Kraken just hours ago.
This transaction adds to a string of similar moves by the whale, who has sold 45,000 ETH ($113.2 million) in the past two weeks at an average price of $2,516. Since the ICO, the whale has now sold a total of 60,000 ETH for $149.68 million, making incremental sales over the years.

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A wallet spent 288 ETH as transaction fees and ended up sending nothing, triggering widespread reactions in the crypto community.
In today’s Ethereum news, another huge transaction fee was paid on the Ethereum network. According to blockchain transaction tracker Whale Alert, a user paid a staggering 288 ETH for a single transaction.
One of the most interesting developments around the transaction, besides its magnanimous transaction fee, was that the user ended up transferring nothing to the receiving address. Per Etherscan, the wallet address sent 0 ETH to the receiving address, while paying 288 ETH as fee.

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Bitcoin gained 2.5% in Q3 2024, per NYDIG, with ETF inflows and corporate adoption rising.
Bitcoin’s third-quarter performance in 2024 saw a modest gain, according to a detailed analysis by NYDIG, a financial services and infrastructure firm. Per the analysis, the crypto posted a 2.5% recovery following a previous decline in the second quarter. Despite this rebound, Bitcoin’s price remained confined to a narrow range, trading between $70,000 and $54,000 over the past six months. 
The report emphasized that while the crypto struggled to make significant upward moves, it demonstrated resilience in a challenging market environment. 

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