FTX Customers Anticipate Higher Recoveries as SpaceX Shares Soar

Jenny Johnson, CEO of Franklin Templeton, highlighted the industry's reluctance to adopt decentralized networks due to the threat they pose to traditional financial business models. She emphasized the cost savings and efficiency of running their tokenized money market fund on public blockchains like Stellar.

Traders on prediction markets like Kalshi and Polymarket are predicting a further drop in Bitcoin's price, with probabilities assigned to it falling below $55,000, $50,000, and even $40,000. This sentiment is fueled by dwindling institutional demand and a shift towards digital dollars.

Microsoft unveiled Majorana 2, a topological quantum chip 1,000 times more reliable than its predecessor, with qubit lifetimes of up to one minute. The chip, replacing aluminum with lead, aims to bring scalable quantum computing closer to reality by 2029.

The U.S. Treasury Department sanctioned Nobitex and three other Iranian cryptocurrency platforms for allegedly aiding terrorist financing and sanctions evasion. Nobitex processed over 50% of Iranian digital asset inflows, facilitated payments for terrorist activities, and helped prop up the Iranian rial's value.

Standard Chartered's Geoff Kendrick highlighted Strategy's Bitcoin sale as a turning point for Ethereum, leading to improved price moves against Bitcoin. Kendrick predicts Ethereum's dominance over Bitcoin will increase by year's end, with a projected price target of $4,000.

Bitcoin traders are losing faith in its potential to rise, with Myriad users predicting a 53% chance of dropping to $55,000. The recent 5% decline in BTC price to $67,312 has contributed to a 12% drop in the last week. Negative catalysts like Strategy's BTC sale have impacted market sentiment.

Noble Mobile, led by Andrew Yang, has acquired Helium Mobile, known for its decentralized network and affordable mobile plans. The acquisition aims to continue offering low-cost services and maintain connectivity for subscribers through the existing 5G network powered by T-Mobile with support from the Helium crypto network.

Franklin Templeton's partnership with MoonPay enables institutional investors to seamlessly exchange stablecoins for the asset manager's tokenized money market fund through blockchain networks. This move aligns with Franklin Templeton's deeper dive into digital assets, including the launch of Franklin Crypto in April.

Mt. Gox, the defunct crypto exchange, transferred over $739 million in Bitcoin, moving 10,422.65 BTC to a new wallet and 116.30 BTC to a known hot wallet. The trustee has until Oct. 31, 2026, to complete repayments, with about 35,000 BTC left to distribute.

Movement, originally focused on linking blockchains with Ethereum, is now shifting towards cross-border payments and stablecoin-based settlement infrastructure for emerging markets. This pivot reflects a broader trend in the layer-2 space, with projects adapting to growing competition and seeking new growth paths.