Is the Fed Pumping Crypto Too Much?

What we’ll cover today:

🚨 Is the Fed Pumping Crypto Too Much? Time to Cash Out?

📉 What would you do if you were part of an $8 billion crypto scam?

🤑 Did OpenAI just launch a crypto token?

1. Is the Fed Pumping Crypto Too Much? Time to Cash Out?

The Fed just cut interest rates.

Everyone’s asking: is crypto about to explode?

Not so fast.

Nansen’s analyst, Aurelie Barthere, believes the market has already expected this.

That means much of the hype is already baked into prices.

So, is now the time to sell at the highs?

Here’s what’s happening:

• The Crypto Fear & Greed Index surged from 45 (fear) to 59 (greed).

• Bitcoin shot past $60,000 and nearly reached $65,000.

But here’s the catch—Barthere warns the market might already be peaking.

Key takeaways:

• Trimming positions during rallies could be a smart move.

• Be cautious as the market sentiment shifts into “greed.”

  Here’s the whole article

2. What would you do if you were part of an $8 billion crypto scam?

Then, imagine the mastermind is your ex, and you have to decide—prison or testifying against him?

That’s the crazy situation Caroline Ellison found herself in.

Ellison, once CEO of Alameda Research, was sentenced to two years for her role in the FTX collapse.

Here’s what happened:

• 110-year threat: Ellison faced a potential century-long sentence.

• Turned on Bankman-Fried: She testified against FTX’s founder and her ex, Sam Bankman-Fried.

• Bankman-Fried’s outcome: He’s now serving 25 years for leading the massive fraud.

• Judge’s view: Despite her cooperation, the judge emphasised Ellison’s major role in the crime.

Ellison apologised in court, saying the scale of the harm was beyond what she could fully grasp.

Her testimony was the key to taking down Bankman-Fried.

Here’s the whole article.

3. Did OpenAI just launch a crypto token?

Nope—but hackers tried to make it look that way.

On September 23, OpenAI's official X account (@OpenAINewsroom) was hacked, posting fake promos for a bogus crypto token.

The posts were live for about an hour before being deleted.

This wasn’t a one-off incident.

Just a day earlier, an OpenAI researcher’s account was hacked to push a fake token.

Here’s a quick timeline of the breaches:

• September 23: @OpenAINewsroom hacked, fake crypto token posts.

• September 22: Researcher Jason Wei’s account hijacked for a fraudulent token promo.

• June 2024: Chief Scientist’s account hacked.

• June 2023: CTO Mira Murati’s account briefly taken over.

OpenAI is tightening security and urging staff to secure their accounts.

Here’s the whole article