HBO’s "Money Electric" Fails to Unmask Satoshi Nakamoto

HBO’s "Money Electric" Fails to Unmask Satoshi Nakamoto

HBO’s much-anticipated documentary Money Electric: The Bitcoin Mystery aired 4 hours ago, promising the unmasking of Bitcoin’s elusive creator, Satoshi Nakamoto. Directed by Cullen Hoback, the documentary explored Bitcoin’s origins and introduced several key figures, including Blockstream CEO Adam Back. Hoback zeroed in on Bitcoin Core developer Peter Todd as the candidate.

Similar to previous theories, the film failed to provide conclusive proof. Hoback’s case relied heavily on circumstantial evidence, such as Todd’s forum interactions with Satoshi and his teenage efforts to create a digital currency. Despite these clues, critics dismissed the theory, with many claiming the evidence was speculative. Todd himself denied the allegations on social media.

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Scroll Announces SCR Token Airdrop on Binance Launchpad

Ethereum Layer 2 Scroll has announced the launch of its SCR token on Binance Launchpad as part of its first step toward decentralization. Scroll's team confirmed that a snapshot for the token airdrop would be taken on October 19, with claim availability beginning on October 22. The SCR token will serve as a governance tool to help decentralize the protocol's prover and sequencing systems.

Out of 1 billion SCR tokens, 15% will be allocated for community airdrops, with 25% reserved for projects building on Scroll. The token will also play a key role in governing the platform, with plans to decentralize its core operations. Scroll is one of the last Ethereum Layer 2s to launch a token, and the team hopes the SCR distribution will expand community involvement and incentivize long-term sustainability.

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Crypto.com Files Lawsuit Against SEC Following Wells Notice

Crypto.com has filed a lawsuit against the US Securities and Exchange Commission (SEC) following the receipt of a Wells notice, which suggested the agency was preparing to take enforcement action against the company. The lawsuit claims the SEC has overstepped its regulatory authority by labeling several digital assets as securities, including tokens such as SOL, ADA, and BNB.

In its complaint, Crypto.com seeks a legal declaration that the network tokens traded on its platform are not securities. The firm argues that the SEC lacks jurisdiction over these sales and accuses the agency of unjustly regulating by enforcement. This lawsuit adds to a growing list of legal challenges faced by the SEC from the crypto industry, including actions from Consensys and Coinbase.

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Notcoin and Dogs Community Announce $4 Million Token Burn

Telegram-based game Notcoin and meme coin project Dogs Community have announced plans to burn a combined $4 million worth of NOT and DOGS tokens. The burn, which follows a community vote, will significantly reduce the circulating supply of both tokens. At current prices, around 85% of the burn will come from DOGS tokens, equating to $3.5 million.

The token burn event is scheduled for Wednesday at 9 a.m. ET, with both projects framing the burn as a pivotal moment for their respective ecosystems. The projects claim the reduced supply could potentially benefit long-term holders and further community commitment. Dogs Community, known for its meme coin linked to Pavel Durov’s mascot Spotty, will also donate six billion unclaimed $DOGS.

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Data of the Day

US-based Bitcoin miners saw a third consecutive month of revenue declines in September, despite an increase in the network's hash rate. According to JPMorgan, the Bitcoin network's hash rate rose by 2% to 643 exahashes per second, while average earnings per exahash fell by 6%. This dip came as Bitcoin’s value increased by about 7% over the month.

The total market capitalization of 14 US-listed Bitcoin miners tracked by JPMorgan grew by 4%, reaching $21 billion. Leading miner Marathon Digital Holdings (MARA) reported a 6% increase in BTC production, holding nearly 27,000 BTC in reserves. Meanwhile, Riot Platforms (RIOT) mined 28% more BTC than in August, holding over 10,400 BTC.

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More Breaking News

• Analysts at K33 estimate that $2.4 billion from FTX creditor repayments could reenter the crypto market, expected in late Q4 2024 or early Q1 2025.
• Crypto investment firm Canary Capital has filed for a spot XRP ETF, following a similar filing by Bitwise earlier this month.
• A former Russian investigator was sentenced to 16 years in prison for accepting $73 million in Bitcoin bribes from organized criminals, Russia's largest bribery case.
• Decentralized AI firm Theoriq launched a testnet for its blockchain-AI agent network, claiming it will alter how agents interact with Web3 and real-world tasks.
• Midas has launched tokenized real world asset products in Europe with no minimum investment, opening up access to US T-Bills and a basis trading strategy.

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