Global

David Carmona, the founder of IcomTech, has been sentenced to 121 months in prison for his role in a significant cryptocurrency fraud scheme that defrauded investors of $8.4 million. Alongside his prison term, he will also face three years of supervised release. Damian

JPMorgan Chase and Bank of America have recently revised their forecasts regarding a potential interest rate cut by the Federal Reserve in November. Citing a robust labor market, both banks now expect the Fed to implement a quarter-point reduction, shifting away from earlier predictions that suggested a more substantial cut due to anticipated economic weakening.

Avalanche [AVAX] is experiencing a notable surge in whale activity, as reported by IntoTheBlock. Recent data indicates that large transactions have skyrocketed by an impressive 98%, with big players transacting $226.19 million worth of AVAX in the last 24 hours.

The recent news regarding the SEC's decision to appeal Judge Torres' ruling has stirred significant anticipation in the crypto community. Many speculated that the watchdog might refrain from this move, given the slim chances of success.

As of October 5, data from Bitcoin Magazine reveals that various funds are now managing over 911,000 BTC, signaling a significant uptick in institutional interest in the cryptocurrency.

In a remarkably short time, cryptocurrency has emerged as a crucial asset class in the global financial market. Investors are drawn to its potential for high returns and the allure of decentralization.