Levels To Watch This Weekend

A look at BTC, ETH, XRP, XLM, and SUI charts

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OVERVIEW

Levels To Watch This Weekend

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total and altcoin market cap YTD:

Source: TradingView

New In Three Sentences
Crypto News 📰

📉 Farcaster’s Revenue Plummets

Farcaster’s revenue is down a jaw-dropping 96% from February’s peak, sitting at just $15,825 for October so far. Once hyped as a “SocialFi” hotspot with $150M in Series A backing, it seems the platform’s user engagement is fading fast. Even with that billion-dollar valuation, getting non-crypto users to care is proving tricky. TheBlock.

💸 Hackers Nab $20M from US Gov Wallet—Arkham Investigates

A hacker siphoned off $20 million in crypto from a government wallet tied to 2016’s Bitfinex seizures, leaving authorities red-faced. Arkham notes the hacker quickly swapped some assets to ETH and funneled funds through a suspected laundering service. Later this afternoon, Arkham reported $19 million has been recovered. Arkham’s X.

💼 Microsoft’s Bitcoin Proposal Gets the Cold Shoulder

Microsoft’s board is recommending shareholders vote against a proposal to diversify reserves into Bitcoin, calling it unnecessary and risky. The idea, submitted by a conservative think tank, argues BTC could protect against inflation—pointing to MicroStrategy’s gains as proof. Microsoft, however, insists their existing investment processes already cover all the bases. CryptoValleyJournal.

🚨 Base Blockchain Exploit, $1M Drained

An exploit on the Base blockchain drained around $1 million from unverified lending contracts, as attackers manipulated prices and funneled the funds into Tornado Cash. Cyvers Alerts flagged the incident, blaming reliance on a single liquidity pair for oracle data. Cointelegraph.

The Rising Demand for Whiskey: A Smart Investor’s Choice

Why are 250,000 Vinovest customers investing in whiskey?

In a word - consumption.

Global alcohol consumption is on the rise, with projections hitting new peaks by 2028. Whiskey, in particular, is experiencing significant growth, with the number of US craft distilleries quadrupling in the past decade. Younger generations are moving from beer to cocktails, boosting whiskey's popularity.

That’s not all.

Whiskey's tangible nature, market resilience, and Vinovest’s strategic approach make whiskey a smart addition to any diversified portfolio.

Stablecoins
Tether CEO Says ‘It’s All Old News’ – Except the Treasury Isn’t Buying It 🗞️ 

The Wall Street Journal late this afternoon reported that Tether, the world’s largest stablecoin issuer, is under federal investigation for potential sanctions and anti-money-laundering violations. 😨 

Here's a quick rundown of the details WSJ shared and why this story has everyone buzzing:

  • Federal Spotlight: The U.S. government is investigating Tether for suspected money laundering and sanctions breaches, reportedly involving shady connections to drugs, arms, and more.

  • Potential Sanctions: The Treasury Department is considering sanctions against Tether itself, which would force U.S. traders and businesses to cut ties entirely.

  • Cantor Fitzgerald Connection: Tether’s biggest asset manager, Cantor Fitzgerald, is managing over $80 billion of Tether’s reserves in U.S. Treasuries. A hit to Tether could send shockwaves through Cantor and potentially impact its high-profile CEO, Howard Lutnick, who also happens to have ties to Trump.

  • Tether’s Audience of Choice: Tether’s stablecoin is apparently popular with sanctioned groups like Hamas and Russian arms dealers—exactly the kind of crowd regulators don’t want making use of any U.S.-connected financial tools.

  • Tether’s CEO Speaks Out: Paolo Ardoino, Tether’s CEO, pushed back hard against the WSJ’s reporting, stating, “As we told the WSJ, there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.”

While Tether’s team insists the story’s based on outdated rumors, the company’s ties to Cantor Fitzgerald and its sheer volume of daily transactions—$190 billion traded every day—are enough to keep Tether squarely in the spotlight. 🔦 

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