SoSo Daily Oct. 8 | US Bankruptcy Judge Approves FTX Reorganization Plan

According to sosovalue, the price of $BTC is 62,634 USD, a decrease of 1.97% from yesterday. The market cap of $BTC is 1.24 trillion USD, accounting for 54.5% of the total market cap; $BTC's 24-hour trading volume is 32.61 billion USD, making up 32.4% of the total trading volume.
The price of $ETH is 2,434.1 USD, down 2.31% from yesterday; the market cap of $ETH is 293.02 billion USD, representing 12.9% of the total market cap; $ETH's 24-hour trading volume is 16.33 billion USD, comprising 16.2% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.4% of the total cryptocurrency market cap, and their combined trading volumes constitute 48.6% of the total trading volume.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 01:35 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is OG Fan Token. As of 01:35 today, its market cap is 16.22M, with a coin price of 11.013 USD, witnessing a 24-hour increase of 118%.
The second is Thena. As of 01:35 today, its market cap is 18.62K, with a coin price of 0.00037390 USD, witnessing a 24-hour increase of 64.5%.
The third is Santos FC Fan Token. As of 01:35 today, its market cap is 22.58M, with a coin price of 4.0710 USD, showing a 24-hour increase of 39.7%.
In fourth place is SUIA. As of 01:35 today, its market cap is 0E-8, its coin price is 0.089720 USD, with a 24-hour rise of 35.9%.
In fifth place is Lazio Fan Token. As of 01:35 today, its market cap is 14.92M, its coin price is 1.7960 USD, increasing by 32.4% over the last 24 hours.


Moving on, let's take a look at the sector performance in the crypto market.
According to sosovalue, out of 16 sectors, 1 is up and 15 are down. Notably, AI, RWA, and Meme sectors are worth mentioning.
AI sector has fallen -3.72% relative to the UTC 0 time, led by declines in gtai (-11.1%), MASA (-11%), and lai (-10%).
RWA sector has decreased -3.82% relative to UTC 0, with smt (-10.8%), PRCL (-8.42%), and tru (-6.7%) leading the drop.
Meme sector has fallen -4.04%, with FIGHT (-26.1%), michi (-16.5%), and tremp (-15.8%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:A U.S. bankruptcy judge has approved FTX's reorganization plan, allowing for the distribution of funds to creditors. The plan ensures that 98% of creditors will receive at least 118% of their claim value in cash. However, there were objections to the plan, with some creditors advocating for payouts in cryptocurrencies instead of cash. The judge rejected the proposal for in-kind distributions and reaffirmed that the value of FTT, the native token of the exchange, is zero. The possibility of a reboot of FTX, known as 'FTX 2.0,' was ruled out as no investors were ready to commit capital. FTX filed for bankruptcy in 2022, and its CEO, Sam Bankman-Fried, was found guilty of wire fraud and conspiracy to commit wire fraud.
Next news:According to Politico, if Trump wins the presidential election, Robinhood's Chief Legal Officer Dan Gallagher may become the next chair of the U.S. Securities and Exchange Commission (SEC). Other candidates include former CFTC chair Chris Giancarlo, former SEC General Counsel Robert Stebbins, and current Republican SEC Commissioner Hester Peirce. Gallagher stated, "I am honored to have my name mentioned in discussions about who will be the next SEC chair. I have had the privilege of serving in various roles at the SEC, including as a commissioner. I care deeply about this agency, and I hope any new SEC chair will promote market access and ensure that the U.S. remains at the forefront of financial innovation."
Next news:Former U.S. President Donald Trump’s odds of winning the upcoming election have risen to 50.6% on the decentralized prediction market platform Polymarket, surpassing current Vice President Kamala Harris' 48.4%. Stakes on Trump and Harris have fluctuated back and forth on the $1.3 billion Polymarket bet ever since current President Joe Biden exited the election in July. While Harris took the lead on Polymarket for a significant portion of September, bets on Trump’s win grew this month. Cryptocurrency emerged as a significant topic during the 2024 presidential election as Trump repeatedly made his support for crypto, NFTs, and DeFi clear. After keeping silent on the subject for weeks, Harris said last month that she intends to encourage growth in “digital assets.”
Next news:According to Cointelegraph, Bitcoin financial services company Fold has submitted an S-4 filing to the U.S. Securities and Exchange Commission in preparation for going public. The Fold treasury currently holds over 1,000 Bitcoins. Founded in 2019, users can earn Bitcoin rewards through its debit card, similar to credit card cashback. The company currently has 574 thousand accounts.
Next news:According to Protos, a United Nations report indicates that Telegram has become a haven for criminal networks in Southeast Asia, assisting them in laundering money with cryptocurrencies, trading hacked data, and acquiring fraud tools. The United Nations states that end-to-end encrypted applications have fundamentally changed the way organized crime operates. Criminal enterprises in Southeast Asia generate annual revenues between 27.40 billion and 36.50 billion USD. Unlicensed cryptocurrency exchanges are also advertising money laundering services on the application. One advertisement identified by the United Nations claims, "We transfer 3 million USDT stolen from overseas every day."
Next news:According to Wu, APRO Oracle has announced the completion of a $3 million seed round financing, led by Polychain, ABCDELabs, and FTI DA. APRO Oracle claims to provide Bitcoin-level security and rapid response services, covering over 15 chains and more than 140 types of assets, and collaborating with over 100 ecosystem partners to promote the liquidity injection potential of the Bitcoin ecosystem.
Next news:According to Deep Tide TechFlow news on October 7, monitoring by Arkham showed that in the past half hour, Grayscale transferred 3,374 $ETH (approximately 8.32 million USD) and 221 $BTC (approximately 13.92 million USD) to a Coinbase Prime address. Additionally, Grayscale also transferred 700 $BTC to an unmarked address starting with bc1q0j.
Next news:Institutional interest and economic uncertainty are driving forces behind the accelerated global adoption of cryptocurrencies, according to a report from MatrixPort.
Next news:According to official news from Bitget, the CATS deposited through the TG mini-program has been credited, and the CATS/USDT trading pair will open today at 18:00. Please pay attention to the site announcement for the delivery time of pre-market trading. In this pre-recharge event, the first 200 thousand deposit users will receive an airdrop of 30 thousand CATS before today's spot trading.
Next news:According to Bitget market data, Bitcoin has broken through 64,000 USDT, currently priced at 64,008.33 USDT, with a daily increase of 1.92%.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.