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Thai banks showed us why Bitcoin matters...

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Plus: Is Q4 preparing for a monster move?

Welcome

GM. No oranges were harmed in the making of this juice, but a few altcoins definitely were.

On the menu today:

🧊 Banks freeze, Bitcoin frees.

🍍 Where crypto's at now + expectations for Q4.

🍋 Bitstamp review, London Stock Exchange launches blockchain-based fund system + more

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Fear and Greed Index
Find out more about the Fear & Greed Index here.

 Crypto Market Cap: $4.00T 0.02% (24H)
  Name   Price 24H 7D
Bitcoin Bitcoin BTC $115,138.39 0.46% 3.08%
Ethereum Ethereum ETH $4,444.82 -1.60% 3.23%
XRP XRP XRP $3.03 0.52% 1.94%
BNB BNB BNB $925.77 0.85% 5.83%
Solana Solana SOL $233.91 0.03% 8.66%
Prices as of 10:00 AM EST. Click here to see live data.

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🧊 Banks freeze, Bitcoin frees

If you ask a crypto bro why they're in crypto, they might say something about financial freedom.

But 99% of the time, their real answer is number go up.

Which isn't bad. Get yo' bag.

Bitcoiners in it for the technology

Source: @dogeofficialceo

But every now and then, we're reminded what crypto was really made for. And today's story is one of those times.

Over the weekend, Thai banks froze 3 million accounts suspected of being "mules" for scammers - and imposed daily transfer limits on everyone.

Digital Economy and Society Ministry secretary Wisit Wisitsora-at said the suspensions are only temporary and will be lifted once checks confirm no wrongdoing.

Now, this whole thing happened in response to an increase in online scams that have drained an estimated 6B baht (~$189M) from victims over the past year.

👉 On one hand, yay, fighting scams!

👉 On the other... remember, these weren't proven scam accounts - just suspected ones. Meaning, innocent people and businesses lost access to their own money, too.

Which isn't fair.

Hmmm... if only there were a system that fixed this...

🤔🤔

Sasha Hodder tweet about Thai bank account freezes

Source: @sashahodler

Lemme introduce you to something called Bitcoin.

Now, to be fair, Bitcoin doesn't stop scams - those definitely exist in crypto too.

But it does stop innocent people from losing access to their money because of "suspicion."

If you hold your Bitcoin in self-custody, no one can freeze it. There's no central authority with a kill switch. Transactions are peer-to-peer - no bank approval required.

The trade-off? Absolute control means absolute responsibility: no reversals, no bailouts, no customer support to call if you mess up.

Basically, with banks, you trust institutions. With Bitcoin, you trust yourself.

Choose your fighter 🥊

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🥝 Memecoin harvest

If your portfolio is crying, these memecoins might put a smile back on it 🙂

Data as of 08:20 AM EST.

Check out these memecoins and plenty more here.

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🍍 Market flavor today

Crypto isn't exploding right now, but it does look like it's getting back on track - the top coins are in the green on weekly charts.

That's mostly because everyone's expecting the Fed to cut interest rates tomorrow, so people are already getting more comfortable taking on risk again.

And you can actually see this risk appetite showing up in ETF flows:

👉 Bitcoin ETFs have now had six straight days of inflows - $2.5B in total;

👉 Ethereum ETFs have flipped positive as well, with five straight days of inflows totaling $1B.

A sign that institutional money is positioning for something bigger?.. 👀

Bitcoin ETF flows table

Source: Farside Investors

But then... if all this money is flowing in... why aren't the prices going wild?

Don't worry, that totally makes sense.

Traders might be optimistic about rate cuts, but they're also nervous about the immediate aftermath.

Rate cut announcements are known for creating short-term volatility before markets find their new direction.

Bitcoin price chart from BitDegree, 09-16

Source: BitDegree

That said, if we focus on the longer-term...

Bitmine chairman Tom Lee said that if the Fed does cut rates, Bitcoin and Ethereum could see a "monster move" in Q4.

Why does he think so? Quick mafs:

Lower rates (aka more liquidity) + growing institutional interest + Q4 has historically been a strong period for crypto = 🚀

But for now, we just wait and cope 🙏

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🍋 News drops you can't miss

🤔 Bitstamp is one of the OG exchanges, but does it still hold up today? Check out our review and see for yourself.

🇬🇧 The London Stock Exchange launched a blockchain-based system for managing private investment funds. It handles issuing investments, turning them into tokens, and settling trades.

🙏 K9 Finance, a dApp on Shibarium, is offering a 5 ETH bounty to the hacker behind a recent exploit. They're asking for the stolen assets to be returned.

⛔️ Vitalik Buterin warned against using AI to govern blockchain projects. He said giving AI control over decisions like fund distribution could be abused, since people might find ways to manipulate or bypass its rules.

💰 Next Technology Holding, which already owns a lot of Bitcoin, plans to raise up to $500M. The money could go toward regular business needs - or toward buying even more Bitcoin.

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🍌 Juicy memes

Meme about screenshotting instead of taking profits

Source: @naiivememe

Meme about being at school in 2008 instead of buying Bitcoin

Source: @naiivememe

Meme about telling yourself to buy Bitcoin

Source: @CryptoTea_

Gode S. Web3 Market Analyst
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.

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