View moreIn This Week’s Recap:
- BankSocial Sets Growth Agenda
- TOKEN2049 Recap
- Poll: Crypto Adoption to Increase
- FTX Repayment Plan
- Hot Topics
The Big Idea
BankSocial Gears Up For Growth
The BankSocial team wrapped up our annual planning event, bringing everyone together for an incredible time of reflection, fellowship, and looking ahead. We reviewed our journey so far and outlined our plans for future growth, focusing on partnerships, supporting the BSL DAO, credit unions, and more.
We were also excited to welcome our newly appointed board members, Tom Kane and Elizabeth Osborne, who joined us for this important event.
If you’d like to meet the BankSocial team in person, join us at our upcoming event on Thursday, October 24. Register below!
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Hedera News
Hedera Presents TOKEN2049
TOKEN2049 Singapore was a highlight for Hedera, showcasing their vibrant ecosystem and exciting projects. At their Builder Booth, they featured initiatives like RedSwan CRE and SaucerSwap, illustrating the real-world value of web3. They also sponsored the Real-World Asset Summit, where industry leaders discussed the future of tokenization and regulatory frameworks, and launched the Asset Tokenization Studio to simplify the creation of tokenized bonds and equities.
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Adoption News
Poll: Crypto Adoption Set to Increase
A recent report from MatrixPort indicates that global cryptocurrency adoption is set to exceed 8% by 2025, up from the current 7.51%. This increase is fueled by rising institutional interest and ongoing economic uncertainty, which are helping to integrate cryptocurrencies into mainstream finance. While major firms like BlackRock contribute to the legitimacy of digital assets, challenges remain, including regulatory hurdles, market volatility, and security concerns that could impact broader adoption.
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CEX, Rugs, Block and Roll
FTX Repayment Plan
U.S. Bankruptcy Judge John Dorsey has approved FTX’s plan to repay its crypto customers in cash, plus interest, using $16 billion in recovered assets. Finalized in a Wilmington court hearing, the plan prioritizes payments to those most affected by the 2022 collapse, allowing customers to receive at least 118% of their account value at the time of bankruptcy, although the payment timeline remains unclear. While FTX views this as a win for creditors, many customers feel shortchanged amid a crypto market rebound and are calling for higher repayments that reflect current asset values.
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While anyone can access the BankSocial ecosystem, certain features including the exchange require Verifiied®- our simple KYC solution. Login to My.BankSocial.io and start the process now.
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Hot Topics
What’s on everyone’s mind?
Crypto.com has sued the SEC, claiming it is overstepping its jurisdiction by classifying most cryptocurrencies as securities without proper authority
The Founder’s edition NFT’s received their first HBAR distribution on Tuesday the 15th.
This week, Blackrock CEO Larry Fink said, “Bitcoin will become as big as the US housing market.”
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All The Love and All The Power!
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