Ripple CEO Breaks Silence on SEC's Appeal, SHIB Exec Shares Market Rule Number 1 About 'Uptober' Pump, Dormant BTC Whale Sees 7,240% Gains as 'Uptober' Begins: Crypto News Digest by U.Today

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U.Today has prepared the top three news stories over the past day.

"Infuriating": Ripple CEO breaks silence on SEC’s appeal

On Wednesday, Oct. 2, the XRP community was shaken by the SEC's decision to appeal the Ripple case. The development was commented on by many prominent figures in the crypto industry, with Ripple CEO Brad Garlinghouse among the first to share his take. In a recent X post, Garlinghouse wrote that the SEC and its chair Gary Gensler should have moved on from their case against Ripple, as it has not protected investors and has damaged the agency's reputation. Calling the appeal "infuriating" and "misguided," the Ripple boss stated that his company would fight in court "as long as it needs." Meanwhile, the SEC is yet to specify what exact issue it plans to appeal, leaving open the possibility that it might challenge the July 2023 ruling that distinguished institutional sales from programmatic sales. The agency could also choose to appeal the final judgment issued by the court in August.

Market rule number one about "Uptober" pump shared by SHIB executive

Shiba Inu marketing lead Lucie has recently taken to X platform to address the community's concerns regarding the current "Uptober" not meeting their expectations. In her post from yesterday, she shared "market rule #1," which covers not only “Uptober” but the way things work on the market for traders in general. According to the rule, the nature of market forces is unpredictable, and assets may surge either right after selling or unexpectedly at other times: "Market rule #1: It will pump the second you sell OR It pumps the moment you don’t expect it." Concluding her post, Lucie wrote that "Uptober" is not just a 31-day period but a time for potential surprise gains. Meanwhile, SHIB caught a recovery wave, trading up 10.72% over the past 24 hours at $0.00001737 at the moment of writing, per CoinMarketCap.

7,240% Bitcoin gains made by dormant BTC whale as "Uptober" kicks off

Yesterday, Oct. 3, Whale Alert service spotted the resurgence of an ancient Bitcoin wallet that had been dormant since 2014. This wallet, containing 99 BTC, has seen an incredible value increase from $83,068 to approximately $6,097,440, representing gains of about 7,240%. This is the fourth Bitcoin wallet that has returned from dormancy this week. On Tuesday, Oct. 1, a whale wallet holding 21 BTC since 2013 awakened, with its holdings now worth $1,307,996. On the same day, two other wallets, containing 41 BTC worth $2,611,481 and 77 BTC evaluated at $4,902,160, were reactivated as well. The activity of these ancient whale wallets aligned with the start of October, historically known as "Uptober" for its association with Bitcoin rallies. Currently, Bitcoin is changing hands at $61.632, up 2.51% over the past 24 hours, according to CoinMarketCap's data.