According to Blockworks, crypto firms collectively raised $823 million in September, with investments spread across 200 companies. Celestia led the pack with a notable $100 million raised through its ecosystem fund, followed closely by Infinex, which garnered $65 million via public token sales. Significant contributions came from strategic funding efforts, particularly from initiatives like those of the TON Foundation. Notably, seed rounds were prevalent, with 41 companies obtaining seed funding last month, as reported by TIE data.

The decentralized finance (DeFi) sector also performed well, with 33 companies announcing funding rounds. However, Protocol Development emerged as the frontrunner in total funds raised, securing $192 million. As October unfolds, the funding environment seems to be slowing down, with only a few token unlocks expected later in the month.

In a related initiative, Humanode has introduced a $10 million Ecosystem Funding Program to support the development of Sybil-resistant projects on its platform. This program will initially prioritize consumer dapps capable of reaching a million unique users. Humanode intends to collaborate closely with selected projects, providing not just financial backing but also technical, media, and community-building resources. The team, including founders and key members, will guide these projects throughout their development.

Dato Kavazi, co-founder of Humanode, highlighted the importance of investing in individuals and projects that recognize the significance of Sybil-resistance in their applications. The aim is to empower initiatives that have the ambition and potential to make a meaningful impact in the industry.

On October 6, Fractal Bitcoin announced its roadmap for the fourth quarter of 2024, as reported by BlockBeats. This roadmap highlights key upgrades and developments scheduled for the upcoming months.

In October, Fractal Bitcoin aims to launch Runes, implement CAT20 indexing and transfers within the UniSat wallet, create a trustless CAT20 trading market, and kick off its first season of retrospective funding. These initiatives are designed to enhance the platform’s functionality and security, providing users with more effective tools for managing their digital assets.

Moving into November, the focus will shift to the introduction of Fractal voting and governance structures, as well as performance upgrades for PizzaSwap. These improvements are anticipated to enhance user experience and streamline operations, fostering a more decentralized and community-oriented ecosystem.

By December, Fractal Bitcoin plans to implement zkAtomicSwap, advance support for CAT protocols, and upgrade the PizzaSwap mainnet. These developments aim to strengthen the platform’s capabilities, ensuring secure and efficient transactions while expanding the variety of supported features and protocols.

UniSat has announced its roadmap for the fourth quarter, highlighting several important updates and features set to launch in the coming months, as reported by Odaily.

In October, the platform will activate Runes, implement CAT20 recognition and transmission, and launch the CAT Marketplace. These initiatives are designed to improve overall platform functionality and enhance the user experience, equipping users with better tools for engaging with digital assets.

Moving into November, users can look forward to the introduction of FB voting, a significant upgrade to PizzaSwap, and optimizations for BRC-20, Runes, and CAT20. These improvements aim to boost the platform’s efficiency and performance, providing users with more streamlined options for managing their digital holdings.

Finally, December will see the rollout of zkAtomicSwap, a sophisticated atomic swap solution, alongside enhanced support for the CAT protocol and another key update for PizzaSwap. These enhancements are intended to further strengthen the platform’s capabilities, ensuring secure and efficient transactions for its users.

On its 10th anniversary, Tether has unveiled a documentary that explores the significant role of its stablecoin, USDT, in combating inflation. According to Cointelegraph, the trailer includes testimonials from users in countries like Turkey, Brazil, and Argentina, where inflation rates are notably high. The film portrays USDT as a viable alternative to the US dollar, with one Brazilian interviewee stating that “Tether with USDT accounts for about 90% of daily transactions in Brazil.” In 2023, USDT’s usage in Brazil soared, making up 80% of all cryptocurrency transactions in the nation.

Tether’s story began on October 6, 2014, when its initial tokens were introduced by Brock Pierce, Reeve Collins, and Craig Sellars. Originally named Realcoin, the project was rebranded to Tether, enabling the issuance of tokens pegged to fiat currencies at a 1:1 ratio, thereby facilitating global transactions through blockchain technology. Initially launched on the OmniLayer platform of the Bitcoin protocol, USDT has since branched out to various blockchains, including Ethereum, Tron, and The Open Network. With a market capitalization of $120 billion, USDT is the leading stablecoin and ranks as the third-largest cryptocurrency overall, following Bitcoin (BTC) and Ether (ETH).

Tether CEO Paolo Ardoino stressed the firm’s dedication to enhancing financial inclusion for those marginalized by conventional banking systems. In a post on X, he referred to Tether as a “symbol of disintermediation, resilience, and stability,” aimed at empowering individuals, communities, and entire nations. Ardoino emphasized that Tether seeks to deliver financial technology solutions for people in developing regions who face barriers to accessing banking services due to low income.

The United Arab Emirates (UAE) has made significant updates to its value-added tax (VAT) policies, exempting digital asset transfers and conversions, including cryptocurrencies. The UAE’s Federal Tax Authority (FTA) announced these revisions on October 2, which also include VAT exemptions for managing investment funds and other services related to virtual assets. Notably, these exemptions will be applied retroactively from January 1, 2018, as reported by consulting firm PwC.

PwC clarified that virtual assets in the UAE are defined as digital representations of value that can be traded or converted, intended for investment, but do not include fiat currencies or financial securities. The firm recommended that businesses involved with virtual assets reassess their historical VAT positions and focus on input tax recovery. Finanshels, a bookkeeping and tax service based in the UAE, pointed out that registered businesses can reclaim VAT paid on qualifying business expenses. PwC also noted that rectifying past returns may necessitate voluntary disclosures from companies dealing in virtual assets.

Beyond VAT exemptions, the UAE is also strengthening its regulatory framework for virtual assets. On September 9, Dubai’s Virtual Asset Regulatory Authority (VARA) and the Securities and Commodities Authority (SCA), the UAE’s federal financial body, reached an agreement to jointly oversee virtual asset service providers (VASPs). This arrangement allows VASPs in Dubai to obtain a license from VARA while automatically registering with the SCA for broader operations across the UAE. Additionally, VARA has tightened regulations concerning cryptocurrency marketing, requiring firms promoting digital asset investments to include a clear disclaimer about the potential for complete or partial value loss and the high volatility associated with virtual assets.

As reported by PANews, economist and proponent of gold, Peter Schiff, has raised concerns that reviving the real economy necessitates the downfall of the current ‘false economy,’ which could lead to significant financial setbacks for many individuals. He warned that failing to do so would result in even graver consequences, including currency devaluation. Schiff criticized both government actions and Federal Reserve policies, particularly in the wake of the 2008 financial crisis, asserting that the current debt-fueled economic bubble is more expansive than ever.

He highlighted that the lessons from the financial crisis were ignored, with the Federal Reserve continuing to pursue policies that contributed to the initial turmoil. According to Schiff, the current economic landscape is precarious, characterized by elevated debt levels and a massive bubble. He remarked, “Our debt is now far beyond what it was in 2008, the bubble has grown larger, and it extends beyond just residential housing. We are on the verge of a much more significant economic crisis, and this time, there may be no rescue options.”

Looking to the future, Schiff emphasized the need to let the ‘false economy’ implode in order to pave the way for a more stable system, acknowledging that the transition will be painful for many.

As reported by BlockBeats and backed by data from Coinglass, the volatility in Bitcoin’s price could lead to substantial liquidations across the cryptocurrency market. On October 6, it was noted that if Bitcoin surpasses the $63,000 threshold, total liquidations of short positions on major centralized exchanges could hit approximately $155 million.

In contrast, should Bitcoin dip below $61,000, the liquidations of long positions could soar to $158 million. This significant disparity underscores the potential for volatility in Bitcoin’s price fluctuations.

BlockBeats emphasizes that the liquidation chart reveals the influence of specific price levels on market dynamics. A taller “liquidation column” suggests a more intense market response as prices near these critical thresholds, highlighting the increased risks traders face in the current market climate.

Data from the prediction market Polymarket indicates that Donald Trump’s likelihood of winning the 2024 U.S. presidential election has risen to 51%, placing him ahead of Vice President Kamala Harris, who is currently at 48%. This information was shared by BlockBeats on October 6.

In a noteworthy event, Trump held a “highly anticipated” campaign rally in Butler, Pennsylvania, on October 5. The rally featured a surprise appearance by Elon Musk, who joined Trump on stage. This event marks a comeback for Trump after a challenging period, particularly following an assassination attempt reported in the region in July.

As the campaign progresses, these changing odds illustrate the evolving dynamics of the 2024 election landscape.

As reported by PANews, Hong Kong’s Financial Secretary Paul Chan Mo-po has highlighted a marked improvement in the market landscape as we enter the fourth quarter of 2024. The Hang Seng Index has reached its highest point in about two and a half years, gaining over 5,600 points, or 33%, in just the past 15 trading sessions. The average daily turnover has surged to approximately HKD 192 billion, which is double the daily average seen in August. Additionally, the market capitalization of Hong Kong stocks has climbed to HKD 39.4 trillion. Investment products heavily weighted in Hong Kong stocks have also shown strong performance. A recent report revealed that the impressive results of Hong Kong stocks in September contributed to an overall return exceeding 7% for the Mandatory Provident Fund in the third quarter, marking its best quarterly performance in nearly two years.

This market recovery, combined with cautious optimism from investors, is anticipated to speed up the listing process for many companies in Hong Kong, particularly in the technology sector. Next month, the Office for Attracting Strategic Enterprises plans to unveil a new selection of key businesses, with more than a dozen companies expected to be included. Over half of these firms will be from the artificial intelligence and big data sectors, originating from mainland China, the United States, and Europe, with many recognized as leaders in their fields.

As reported by PANews, the release of the U.S. Consumer Price Index (CPI) data for September, scheduled for next Thursday, may indicate some upward pressures, especially regarding the core CPI. Preliminary data from the S&P Global Purchasing Managers’ Index shows that business purchasing prices have increased at their fastest rate in six months. While the ISM manufacturing survey reported a decline, the non-manufacturing report highlighted a rise in price pressures. If the upcoming data suggests ongoing inflation, more investors could start to anticipate that the Federal Reserve will move forward with a 25 basis point interest rate cut in both November and December.

Jim Baird, Chief Investment Officer at Plante Moran Financial Advisors, noted, “After a series of relatively disappointing employment figures this summer, the September employment report aligns perfectly with what the Federal Reserve wanted. It disrupts the recent trend and offers a hopeful outlook for the labor market’s resilience.” He emphasized that while this report may not change the broader economic forecast, it should ease concerns for both investors and the Federal Reserve regarding the job market. Earlier this week, Federal Reserve Chairman Jerome Powell indicated that he is not looking for further deterioration in the labor market. One of the key reasons the Fed opted to reduce interest rates by 50 basis points last month was due to the slowdown in hiring and the increase in unemployment earlier this year.