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FTX exploiter moved over $17M in ETH in the last 24 hours

A significant portion of the 7,749 ETH, worth roughly $13 million, was directed toward the THORChain router and Railgun contract.
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A significant portion of the 7,749 ETH, worth roughly $13 million, was directed toward the THORChain router and Railgun contract.

According to recent information from Spot On Chain, an address linked to the FTX exploit identified as 0x3e9, has conducted transfers exceeding 10,000 Ether (ETH), worth roughly $17 million, across five different addresses since Sept. 30. The addresses had remained inactive for several months before the recent activity.

Within these transactions, a significant portion of 7,749 ETH, equivalent to $13 million, was directed toward the Thorchain router and Railgun contract. Furthermore, the exploiter engaged in a swap involving 2,500 ETH, valued at $4.19 million, converting it into 153.4 tBTC at an average rate of $27,281 per token. This address, which has recently become active, has exhibited noteworthy activity and is anticipated to continue transferring ETH, most likely to Thorchain.

At the time of the initial hack on Saturday, Sept. 30, the approximate losses amounted to nearly 50,000 ETH. This incident occurred just a short while before SBF's criminal trial scheduled for Oct. 2023.

Nevertheless, these occurrences have generated a significant amount of downward pressure on the ETH price, which currently maintains a level slightly above $1,650. This situation arises as the market anticipates the introduction of Ethereum futures ETFs on Monday, Oct. 2.

FTX co-founder Sam Bankman-Fried, commonly known as SBF, is scheduled to go to trial in October. This comes after his arrest in The Bahamas and subsequent extradition to the United States, marking several months since these events occurred.

The trial is expected to last for six weeks, beginning with the selection of the jury on Oct. 3, followed by the initial court proceedings on Oct. 4. Bankman-Fried faces a total of seven charges connected to fraudulent activities, comprising two substantive charges and five conspiracy charges.

Related: Valkyrie backtracks on Ether futures contract purchases until ETF launch

During the legal proceedings, the FTX founder has consistently pleaded not guilty to all allegations. Despite numerous attempts to secure temporary release, Bankman-Fried continues to be held in custody at the Metropolitan Detention Center. His most recent request for release was denied by Judge Lewis Kaplan, citing concerns about the possibility of him fleeing.

Magazine: Can you trust crypto exchanges after the collapse of FTX?

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Aussie crypto exchanges look to new licensing regime with cautious optimism

Australian crypto exchanges have largely praised the Treasury’s latest proposal to place crypto exchanges under the existing financial services license…

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Australian crypto exchanges have largely praised the Treasury’s latest proposal to place crypto exchanges under the existing financial services license regime, though some worry it could put the crypto industry into a TradFi-shaped box.

Australian crypto exchanges have praised plans from the Australian Treasury to regulate cryptocurrency exchanges under pre-existing financial services licensing measures.

In an Oct. 16 consultation paper, the Treasury outlined a new suite of proposed regulations, that suggested regulating cryptocurrency exchanges under existing financial services rules as well as introducing a wealth of new guidelines for all Australian firms dealing in digital assets.

Speaking at the Australian Financial Reviews Crypto Summit event on Oct. 16, Australian Treasury Stephen Jones said the new regime was focused on three primary areas: providing a framework for industry growth and innovation, allowing regulatory certainty to crypto service providers, and ensuring that everyday consumers and their assets remain protected.

Caroline Bowler, the CEO of BTC Markets told Cointelegraph she was pleased to have reached a new “key milestone” in the regulatory process and regarded the rules as a positive progression for the wider crypto industry in Australia.

“It’s a great next step for the Australian economy. Digital assets are so clearly the future of financial services. It is imperative the country keeps pace with our international peers, with a robust regulatory framework,” said Bowler.

Similarly, Adrian Przelozny, the CEO of Independent Reserve commended the Federal government on its recommendations to introduce stronger regulation and policy change, telling Cointelegraph that these new proposals could help restore trust in the crypto sector.

“We firmly believe these changes will drive investment, provide certainty to the sector and ultimately, increase consumer protection.”

The general counsel of Swyftx, Adam Percy, also agreed with much of the Treasury’s proposals, saying the primary focus should be ensuring that crypto investors can safely access the benefits of blockchain technology, while still allowing room for innovation.

However, Jonathon Miller, the Managing Director of Kraken Australia, told Cointelegraph he was concerned that the new rules would be stuffing the crypto industry into a TradFi-shaped box.

“Australia is now in the unfortunate situation where our regulation has taken a very long time, so we’re taking the approach of shoehorning crypto into existing financial services regulation,” said Miller.

Related: Rejection of crypto bill exposes Aussies to ‘unregulated market’ — Senator Bragg

Still, Miller admitted that the consultation paper was a step in the right direction, especially for providing much-needed regulatory certainty for crypto companies operating on Australian soil.

“We’re behind our global peers when it comes to implementing a crypto framework, so I appreciate the need to have something in place locally to provide certainty to platforms like ours,” he added.

Liam Hennessy, a partner at Clyde & Co — an international law firm that has been assisting in the consultation process — said that the newest proposal from the Treasury “makes sense” for the Australian crypto industry.

Hennessy explained that the new rules will help the nation catch up to jurisdictions such as the European Union who are further along in their efforts to better regulate crypto.

Additionally, he said the Australian Financial Services (AFS) licensing regime can be quite complicated, meaning that local cryptocurrency exchanges and digital asset service providers will need to begin preparing their applications now.

Magazine: Are DAOs overhyped and unworkable? Lessons from the front lines

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Survey finds education is needed to identify lesser-known symptoms of breast cancer

COLUMBUS, Ohio — An overwhelming majority of adults (93%) recognize a lump as a symptom of breast cancer, but less than half recognize other common symptoms…

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COLUMBUS, Ohio — An overwhelming majority of adults (93%) recognize a lump as a symptom of breast cancer, but less than half recognize other common symptoms associated with the disease, according to a consumer survey commissioned by The Ohio State University Comprehensive Cancer Center – Arthur G. James Cancer Hospital and Richard J. Solove Research Institute (OSUCCC – James). 

Experts say this is very concerning, since most breast cancers do not present with a lump that can be detected by touch – and if they do, it often an indicates a fast-growing or advanced-stage cancer that is less treatable.

“Screening mammography is our No. 1 defense in detecting and addressing breast cancers at their earliest, most treatable stages, but it is also very important for people to be familiar with the look and feel of their own breast tissue so that sometimes subtle changes can be evaluated quickly to give us the best chance at early detection,” said Ashley Pariser, MD, a breast medical oncologist and director of breast cancer survivorship services at the OSUCCC – James. 

“We want people to feel empowered about their bodies and know what is normal for them. Many breast changes are the result of aging and childbirth; however, breast cancer can present in a number of ways,” said Pariser. “It is important that people feel safe to address these concerns in a timely way with their doctor. We have made great strides in detecting breast cancers in far earlier, more treatable stages.” 

These lesser-known symptoms of breast cancer include: 

Credit: The Ohio State University Comprehensive Cancer Center

COLUMBUS, Ohio — An overwhelming majority of adults (93%) recognize a lump as a symptom of breast cancer, but less than half recognize other common symptoms associated with the disease, according to a consumer survey commissioned by The Ohio State University Comprehensive Cancer Center – Arthur G. James Cancer Hospital and Richard J. Solove Research Institute (OSUCCC – James). 

Experts say this is very concerning, since most breast cancers do not present with a lump that can be detected by touch – and if they do, it often an indicates a fast-growing or advanced-stage cancer that is less treatable.

“Screening mammography is our No. 1 defense in detecting and addressing breast cancers at their earliest, most treatable stages, but it is also very important for people to be familiar with the look and feel of their own breast tissue so that sometimes subtle changes can be evaluated quickly to give us the best chance at early detection,” said Ashley Pariser, MD, a breast medical oncologist and director of breast cancer survivorship services at the OSUCCC – James. 

“We want people to feel empowered about their bodies and know what is normal for them. Many breast changes are the result of aging and childbirth; however, breast cancer can present in a number of ways,” said Pariser. “It is important that people feel safe to address these concerns in a timely way with their doctor. We have made great strides in detecting breast cancers in far earlier, more treatable stages.” 

These lesser-known symptoms of breast cancer include: 

  • retracted, inverted or downward-pointing nipple
  • breast puckering (an indentation that appears when you raise your arms)
  • loss of feeling in part of the breast
  • pitting/thickening of the skin on the breast
  • nipple discharge

In this new survey, just 31% of survey respondents recognized a retracted, inverted or downward-pointing nipple as a symptom of breast cancer, and just 39% recognized breast puckering as a symptom. Less than half of survey respondents were aware of loss of breast feeling (41%), pitting/thickening of the breast skin (45%) or nipple charge (51%) as concerns worthy of medical attention. 

Confusion about breast cancer screening guidelines 
Pariser noted that screening mammography remains the No. 1 tool for early detection, yet new survey results show that a third of women say they are confused about recommendations for breast cancer screenings, particularly those under age 30 (44%). 

“The best way for us to find breast cancer early is for women to present as soon as they notice a change, ideally even before they see a change. So that’s why we recommend screening mammograms for those who qualify if we want to find breast cancer early,” said Pariser, who also is an assistant professor in the College of Medicine and an affiliate member of the Cancer Control Program at the OSUCCC – James. 

The American College of Radiology and American College of Obstetrics and Gynecologists recommend begin screening at age 40 for people of average risk. OSUCCC – James breast cancer experts encourage each person to talk with their physician about their personal cancer risk and family history to personalize their screening plan. 

Pariser notes that people with dense breast tissue should be closely monitored because they are at slightly higher risk and dense tissue can mask small tumors. Black and Ashkenazi Jewish people should also have a conversation about more intensive screening due to higher risk.  

‘Won’t happen to me’ mentality
According to the American Cancer Society, breast cancer remains the most common cancer diagnosed in women behind skin cancers, with just under 300,000 new cases and 43,000 deaths expected in 2023. This new consumer survey, however, shows that few believe they will get the disease, which afflicts about one in eight women. Among respondents, 75% of women and 91% of men don’t believe they will get breast cancer.

“So, although we are making great strides in terms of detection and treatment, unfortunately we live in a world where breast cancer is still a serious concern for people,” said Pariser. “Although the disease is less common in men, 1% of breast cancers occur in men. These cancers typically present as nipple changes, so it is also important that men feel empowered to seek medical attention for concerning symptoms, especially if they have a strong family history of breast cancer.” 

Study results and methodology
This study was conducted on behalf of The Ohio State University Wexner Medical Center/OSUCCC – James by SQL Server Reporting Services (SSRS) on its Opinion Panel Omnibus platform. The SSRS Opinion Panel Omnibus is a national, twice-per-month, probability-based survey. Data collection was conducted from Sept. 22-24 among a sample of 1,004 respondents. The survey was conducted via web (n=974) and telephone (n=30) and administered in English. The margin of error for total respondents is +/- 3.5 percentage points at the 95% confidence level. All SSRS Opinion Panel Omnibus data are weighted to represent the target population of U.S. adults ages 18 or older.

Breast cancer screening is available at more than a dozen locations across Columbus and the surrounding communities. To learn more about breast cancer treatment and research at the OSUCCC – James, visit cancer.osu.edu/breastcancer or call 1-800-293-5066. 

 

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Grayscale GBTC discount falls to 16% as markets bet on Bitcoin ETF approval

Some analysts say GBTC’s discount is narrowing because investors are pricing in the SEC’s approval on several pending spot Bitcoin ETF applications.

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Some analysts say GBTC’s discount is narrowing because investors are pricing in the SEC’s approval on several pending spot Bitcoin ETF applications.

Grayscale’s Bitcoin investment vehicle, Grayscale Bitcoin Trust (GBTC) is trading at its lowest discount in nearly two years, as spot Bitcoin ETFs continue to inch toward potential approval in the United States.

The latest data from YCharts shows GBTC’s discount to Bitcoin net asset value (NAV) has narrowed to 15.87% as of Oct. 13.

Discount to net asset value (NAV) is a percentage that measures the amount that a mutual fund or ETF is trading below its net asset value. The metric is used to track how far away a security is trading away from its true value.

Data shows that GBTC’s discount began to narrow when BlackRock and several other financial institutions filed spot Bitcoin ETF applications in mid-June, where the discount fell from 44% on June 15 to 26.7% by July 5. Since then, the figure has continued to narrow.

GBTC’s Discount to NAV chart over the last 12 months. Source: YCharts

The last time GBTC’s discount was at a similar level was in early December 2021 — only a month after BTC hit its all-time high price of $69,000 on Nov. 10, according to CoinGecko.

Bitcoin advocate Oliver Velez believes the market is pricing in spot Bitcoin ETF approval by year's end.

Other analysts, such as cryptocurrency investor Lyle Pratt believe GBTC’s discount will continue to “evaporate” over the next week or two as spot Bitcoin ETFs near approval.

Reports emerged that the SEC wouldn’t appeal the Grayscale decision on Oct. 13, leading to Bloomberg ETF analyst James Seyffart referring to spot Bitcoin ETF approvals as a “done deal” in an Oct. 13 post.

Related: ETF filings changed the Bitcoin narrative overnight — Ledger CEO

On Oct. 15, Grayscale reportedly delivered a statement noting that the SEC’s 45-day period to seek a rehearing had passed, meaning the court would issue its “final mandate” within seven calendar days.

"The Grayscale team remains operationally ready to convert GBTC to an ETF upon the SEC’s approval, and we look forward to sharing more information as soon as practicable," the company reportedly said.

Cointelegraph reached out to Grayscale for comment but did not receive an immediate response.

Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in

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