Today in crypto, Bitcoin's white paper written by Satoshi Nakamoto turns 16. Nakamoto proposed a decentralized network to prevent double-spending through a proof-of-work consensus. Since its inception, Bitcoin has become the world’s largest cryptocurrency, currently valued at over $1.42 trillion. Mithil Thakore, CEO of Velar, noted that Bitcoin has transitioned from a niche experiment to a significant asset class, comparable to gold, garnering institutional interest and market recognition in just 16 years. In related news, BlackRock’s spot Bitcoin ETF achieved record inflows of $875 million on October 30, marking the largest single-day inflow since its January launch. The ETF has seen a total of approximately $4.08 billion in inflows over its 13 consecutive inflow days. Additionally, FTX CEO John Ray has advocated in court for leniency toward Nishad Singh, the former engineering director, highlighting Singh's cooperation in the ongoing bankruptcy case. Judge Lewis Kaplan mentioned the severity of the associated crimes but acknowledged Singh’s limited involvement. This highlights ongoing developments in the crypto space, reflecting both growth and regulatory challenges.

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