The United States Securities and Exchange Commission (SEC) has until October 13 to appeal a court decision in favor of Grayscale Investments, which would force the regulator to review the fund manager's application for a spot Bitcoin fund. While an appeal is unlikely, analysts suggest the SEC could still find ways to delay approval of Grayscale's spot Bitcoin ETF conversion.

Trezor, a hardware crypto wallet provider, has launched three new self-custody products to celebrate its 10-year anniversary. These products include an upgraded Trezor wallet, a private key backup solution, and an exclusive Bitcoin-centric wallet.

South Korean IC design company ADTechnology has announced that Samsung Foundry has received an order to manufacture server CPUs for an unnamed overseas company using 3nm process GAA transistor architecture. According to Samsung's product roadmap, there are at least three types of 3nm process (SF3E, SF3, SF3P) that use GAA transistor architecture.

Today's panic and greed index is 44 (yesterday was 45), with a slight increase in panic level, still at the panic level. Note: The panic index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media popularity (15%) + market survey (15%) + bitcoin's proportion in the entire market (10%) + Google keyword analysis (10%).

Super Testnet, the developer of Bitcoin, reiterated that the purpose of BitVM is to expand Bitcoin, not to launch decentralized financial applications similar to Ethereum on the network. BitVM's white paper was released by Robin Linus, the project leader of ZeroSync, on October 10th, and was supported by anonymous developer Super Testnet to implement the first concept verification of BitVM and is committed to expanding BitVM's functionality. After the release, some industry experts believed that BitVM would bring DeFi to Bitcoin, just as the Ethereum Virtual Machine (EVM) did for Ethereum. Super Testnet stated that building a decentralized exchange on Bitcoin would be a "step backwards". BitVM focuses on scalability, not implementing smart contracts and a large number of altcoins. The real killer application is to expand Bitcoin. In addition, BitVM can fix a flaw in the Lightning Network.

According to a report from Chainalysis, between June 2022 and July 2023, Tether, Bitcoin, and Ethereum accounted for 83% of Brazil's cryptocurrency demand. During that period, Tether accounted for about 52% of the country's investor trading demand, Bitcoin accounted for 25%, Ethereum accounted for 6%, while other altcoins totaled just over 17%. Chainalysis categorizes Brazil as a "unique market in Latin America."

The US Financial Accounting Standards Board (FASB) has approved mark to market accounting for corporations and businesses holding crypto digital assets, allowing them to declare gains and losses based on the acquisition price. Previously, companies like Microstrategy and Tesla had to file crypto digital assets as intangible assets, resulting in losses when their value decreased but no gains when their value increased. The change is expected to encourage adoption of Bitcoin and other cryptocurrencies by institutional clients, including corporations, family offices, sovereign wealth, and hedge funds. The FASB announcement coincides with the impending SEC approval of a Bitcoin spot ETF, which will provide institutional buyers with the protections of the law.

While there are a lot of projects working on using zero-knowledge proofs to scale and improve blockchain infrastructure or dApps, most of them are built on Ethereum.

According to data from Bitcoin exchange River, Bitcoin's Lightning Network has experienced a 1,212% growth in two years, with around 6.6 million routed transactions in August 2023, compared to August 2021's 503,000 transitions. This growth in routed transactions came despite a 44% fall in Bitcoin's price and less online search interest.

Cardano (ADA) has overtaken Polkadot (DOT) and Kusama (KSM) to claim the top spot in a ranking of development activity, according to blockchain analytics firm Santiment. In the past 30 days, Cardano recorded 611.47 notable GitHub commits, indicating high levels of development activity and potential new features. Meanwhile, Santiment is also monitoring the supply of Bitcoin (BTC) on crypto exchanges, which is currently at its lowest level in almost six years, suggesting market participants are holding onto their BTC for the long term. Bitcoin is currently trading at $27,587, down 1.2% in the last 24 hours.