Qrafty head about Bitcoin's great weekly close, Steve Aoki is working with Stepn and SBF has meanie buddies

***Qrafty smiling the biggest smile*** Aloha, crypto curious! I am Qrafty - the crypto lovin’ honey badger 🦡 !

Welcome to Coinqraft – the daily crypto newsletter for busy but curious people who don’t have time for the crypto drama!🌟

🦡   Qrafty is back with juice and news crypto jungle, so let’s dive in 📰 🌟

1. Bitcoin Closed The Week Great

2. Steve Aoki Works With Stepn

3. SBF Said His Buddies Are Meanies

Bonus: VanEck amends spot Bitcoin ETF

Bitcoin’s New Week (It Closed Great)

Hey there, welcome to this new crypto week! Open interest in Bitcoin options just hit a jaw-dropping $17 billion. That's like, smashing a record that was set during the 2021 crypto frenzy. Open interest, for the uninitiated, is kinda like the "who's who" of the crypto world… an informal digital asset popularity contest, if you want. It counts the number of futures and options contracts floating around on derivatives exchanges.

But what does this mean for everyday folks like us? Open interest and trading volume are like the mood rings of the crypto realm. They give us a peek into market activity and sentiment. It's like tapping into the collective vibe of crypto investors (aside from that fear and greed index). Are they feeling bullish, or are they a bit bearish? The numbers rarely lie! Yes, these can be manipulated too.

Now, let's talk cash. Money is flowing into digital asset investment products like there's no tomorrow, with a whopping $326 million pouring in just last week. It's like the crypto world's version of hitting the jackpot, and we haven't seen this kind of action since the good old days of July 2022. The crypto market is the hottest ticket in town, and everyone's joining the party.

Here’s the plot twist: cybercriminals are on a heist spree, making off with a cool $1 billion in 75 crypto hacks in 2023. Sure, it's less than the epic $3.2 billion they snatched in 2022, but a billion bucks is still a big deal during an nasty bear market like this one!

You've probably heard of the headline-grabbing $126 million Multichain hack and the $100 million Atomic Wallet heist – those are like the Hollywood blockbusters of the crypto crime world. But let's not forget the smaller players in this crypto crime drama, those are equally important..

So, to conclude, it would seem that we’re entering November with a confident tone. Let’s hope that Gary will finally approve those damn ETFs so that we can move one to the next thing to trigger our anxiety. Can’t wait!

Events This Week

Monday

• China’s key financial policy gathering day, a rare closed door event led by Chinese President Xi Jinping, starts

Tuesday

• Japan unemployment, industrial production, retail sales,

• Bank of Japan rate decision

• China non-manufacturing PMI, manufacturing PMI

• Eurozone CPI, GDP

Wednesday

• US construction spending, ISM Manufacturing, job openings

• US Treasury quarterly refunding announcement

• Federal Reserve rate decision

Thursday

• Bank of England rate decision

Friday

• China Caixin services PMI

• Eurozone unemployment

• US unemployment, nonfarm payrolls

🙃 Qrafty hopes that today’s main story brought brave badgery value to you! Now it’s time for a break, you deserve a bit of fun! 😇 👇️

Steve Aoki And Stepn

All you trendsetters and sneakerheads, gather round! The Steve Aoki x Stepn collection is dropping like a hot mixtape, and it's got us all grooving. Imagine this: 300 exclusive digital sneakers in four sizzling styles—Walker, Jogger, Runner, and Trainer. It's like a fashion rave for your feet!

From October 31 to November 4, these NFT kicks are up for grabs on the MOOAR marketplace, and they'll set you back 3,500 GMT, which translates to roughly 695 bucks. It's fashion meets fintech, and it's time to partaaay! Side note, that’s a nifty price for something you’re gonna walk all over… 🤣 

That’s bot all: Aoki's tossing in an extra 60 NFTs for his dedicated fan club, making it a grand total of 300 NFT editions.

Behind the music and the magic is Steve Aoki, a two-time Grammy-nominated artist who's not just about beats but about blockchain feats. In the past couple of years, he's been cooking up some blockchain collaborations with Snoop Dogg, The Sandbox, Gala Games, Deadfellaz, FVCKRENDER and more.

In case you didn’t know, Stepn is cooked up by Find Satoshi Lab… it’s not really your average game. It's a "move-to-earn" thing where NFT sneakers meet your fitness goals. Wear 'em, connect 'em to your phone, and get rewarded for every step, jog, and sprint. They claim to have over 2 million monthly active users. It's like a fitness app on turbo where you get rewarded for moving. It’s an interesting concept to add that sweet utility to a crypto token.

Scammers Dropped The Lawsuit

OPNX, the crypto trading platform with ties to the bankrupt maestros at Three Arrows Capital, has decided to put an end to its defamation lawsuit against crypto venture investor Mike Dudas.

On October 27, they threw in the legal towel and said, "We're out." They decided it's time to bury the hatchet, or should we say, the blockchain.

Let's rewind to a few months back when OPNX went all-in on a lawsuit against Dudas. The battle cry? Defamation! Why? Well, Dudas wasn't shy about calling OPNX's backers "unrepentant scammers". Truth is… scammers need to be called out as soon as you see them. It was a Twitter war that escalated to a courtroom showdown.

So, who are scammers Dudas was mentioning? We've got Mark Lamb of CoinFLEX, and Su Zhu and Kyle Davies from the infamous Three Arrows Capital. This hedge fund's spectacular implosion last year sent shockwaves through the crypto credit industry, like a financial firework show. And it dragged FTX down with it.

And as if this crypto drama needed more spice, Zhu is currently enjoying a delightful stay in a Singaporean cell. Why, you ask? He had a little run-in with a court order related to 3AC's ongoing liquidation. Now, the whole thing is over and the scammers can focus on their other immediately important rendezvous with the law.

Hey hey 🙃 Qrafty hopes you are enjoying the experience here and would like to regularly get Qrafty’s letters!

If so, please click on the button below. Qrafty is really really grateful to have you here, so thank you!

Tomorrow is like a procrastinator's gym membership - always just one day away, yet packed with potential for future transformations!

Qrafty’s Thought Of The Day

Other stories

Sammy didn’t do it. His buddies are meanies

Naaaw, he’s completely innocent. His buddies who snitched on him are mean. Even if that were the case, he was the CEO. That means all responsibility falls on him. It’s easy for a mature person, but SBF is a child who had too much power.

Tokenization tests in Singapore, Japan, UK, Switzerland

Singapore, Japan, the United Kingdom and Switzerland have jointly announced plans to conduct trials on the tokenization of assets, focusing on fixed income, foreign exchange, and asset management products.

VanEck amends spot Bitcoin ETF

VanEck has submitted an updated request to the SEC for a physical Bitcoin ETF, disclosing that a seed capital investor has obtained Seed Creation Baskets for the VanEck Bitcoin Trust using Bitcoin.

Cantor Fitzgerald bullish on BTC ETF

Cantor Fitzgerald is growing more confident that the SEC will approve their application for a U.S. exchange-traded fund directly investing in Bitcoin, following recent revisions made by asset managers.

OKX exchange looks over-collateralized

The most recent proof of reserves demonstrates that the exchange maintains a robust 103% collateralization with a mix of Bitcoin, Ether, and USDT.

Market Whispers

Qrafty has a bit of macro view today. We are getting close to the monthly end, it was indeed an Uptober! The weekly candle was pretty strong, above the range we've been in from May 2022 and the monthly candle looks pretty bullish too. Now, we'll not go straight up from here, we still might have a bigger correction, maybe to retest the old range at~$32,000.

But, if this is really a strong uptrend we should find acceptance soon above $35,800 and go to $42,000. If we go back under ~$32,000, in the old range, then we will trend that range again. But Qrafty is really excited to draw some new lines and ranges and hopes Bitcoin will be trending higher.

Ethereum, on the other hand, saw a green week too, but didn't managed to close above ~$1,820 which is kind mandatory for new highs. Next daily levels to conquer are ~$1,880 and ~$2,100. If Bitcoin corrects, ETH must hold ~$1,640.

Qrafty ends channeling his inner trader.

Today is TREAT YOUR PET DAY!

That’s all from Qrafty 🦡 for today! Qrafty thanks you and wishes you to live each moment as if you are listening to the music you love most!

If you enjoyed Qrafty’s letters, you can make Qrafty mucho happy happy and subscribe below 👇️ Wahaha!