Freeway.io, a crypto rewards platform, claimed that it could offer up to 40% annual percentage return (APY), on Supercharger accounts. On October 22, a whistleblower named Fatman published a tweet warning people to withdraw their funds from the Freeway platform.

Fatman stated to that he believes they are running a Ponzi scheme. “It’s probable that Freeway will collapse in the next few months, and that all depositors lose everything,” said Fatman.

Freeway released an update the next day that stated it needed to reallocate funds to protect its portfolio from market fluctuations and volatility. It stated that operations would be stopped and could not comment on the matter further.

This news was met with intense speculation. claimed that some employees of the company were removed from their web portal. A web archive of the company’s site confirms that certain employee names were removed from the site sometime in September. Freeway’s Twitter account updated the public on the status of the company on October 25.

The team’s Twitter thread states that the language used was unclear. ‘The following is what we understand: Freeway’s trading strategy appears to have failed, and caused substantial losses due to market volatility. Freeway claims it saw two “converging factors” that led to the incident: a ‘unprecedented USD rally and crypto volatility.

The U.S. dollar rally is interesting. The U.S. dollar rally has been known since a long time. Financial media have well documented the so-called “unprecedented” rise. The U.S. Dollar has been rising for six months now and crypto volatility has been very low in comparison to other global assets.

Further Freeway stated the Ardu Prime Brokerage was responsible for the failure. maintains the trading strategy was executed according to its program, but market volatility led to a spike of margin utilisation which resulted in the loss.

Freeway, a crypto rewards company, has been added:

The trading loss has severely impacted Freeway’s portfolio. However, we have been made aware of these losses and are now taking steps to protect Freeway’s remaining funds. We have also moved out of the loss-producing strategies.

Supercharger Buybacks Will Not Resume Until The Firm Is “in a Place to Execute Safely,” Freeway Doesn’t Know How Long It Will Take To Resume Operations

Freeway explained that there were four recovery plans in place and one plan to allocate funding for a completely new product with high projected profitability. The company ended the Twitter thread by stating that it will take time to implement the recovery plans before Supercharger operations can resume.

Freeway stated that in order to resume Supercharger purchase-backs, we must be able to execute safely. “We must make significant progress in reducing losses before this can happen. That will take time. Freeway’s Twitter thread has been locked. Only people Freeway mentions in the @ can reply to the company update.

The Twitter thread by the Freeway team concludes

Your next question will be about the time involved. This is a question we don’t have an answer to right now.

The native crypto asset of Freeway, freeway (FWT), has fallen close to 80% against U.S. dollars over the past seven days. FWT saw some gains over the past 24 hours and rose from $0.00114042 to $0.00147076 per unit.

The bitcoin price data for September shows that bitcoin ( Bitcoin) continues to follow the same trend as it has over the past decade. BTC prices in September are usually terrible and this month is no exception. 3303 days ago, bitcoin prices fell from $240 per bitcoin to $138 per bitcoin. In September 2014, bitcoin prices fell from $240 per unit to $138 per bitcoin. BTC started the month at $482.28. BTC’s USD value dropped that month by 21.79% to $377.18 per unit at the end September 2014.

Similar to 2015, Bitcoin’s September value was higher in the first month and lower thirty days later. In September 2016, BTC saw a drop of 1.41%. In September 2017, BTC saw a decrease in price by 19.64% over the same period. The bitcoin value in the U.S. Dollar fell 8.89% between September 2018 and September 2018. September 2019 BTC experienced a loss of 16.94%. September 2020 was a good month for Bitcoin. It remained bullish and gained approximately 4.81% against U.S. dollars at that time.

Many people will remember what happened in 2021. BTC was at a lower price and bearish sentiment gripped the trading community last September. While BTC experienced a sub-par September 2021, it rebounded in October to reach a lifetime high of $199.99 on November 10, 2021.

Trader’s have been waking up to the possibility of October bulls reviving the price, despite the past decade of bearish September months. Over the past decade, patterns have shown that September is often bearish while October is generally bullish.

Bitcoin Price Changes Sideways, Crypto Traders Wait Fed Rate Hike. October Price Patterns Give Hope

After a short spike before The merge, BTC has dropped in price over the past two weeks. Jim Wyckoff, Kitco.com’s market analyst, noted that BTC markets have been quiet and consolidating.

Wyckoff stated that ‘price action is quieter and more sideways than usual, with bears and bulls on a level technical playing field in the near-term.’ was written September 16. A drop in prices below the September low chart support would give bears new power to suggest a new leg lower in prices.

An analyst stated that a move above chart resistance at the week’s high would provide bulls with power to suggest further gains.

The crypto economy has been closely with U.S. stocks for the past 12 months. Next week, however, the U.S. Federal Reserve expects to increase the benchmark interest rate by 75 base points.

It is possible that bitcoin ( Bitcoins) prices will drop further after the Federal Bank Rate has been raised. As price patterns in the past have indicated, if the crypto economy falls lower, it is possible that October will see a rebound.

Blake Masters, a Republican Senate candidate and Bitcoin evangelist, has invested millions in a variety of cryptocurrencies. According to The Verge financial filings, Masters’ digital investments seem to have declined in value since the cryptocurrency crash.

Masters, protege of billionaire tech investor Peter Thiel disclosed 12 different investments in different cryptocurrencies and platforms last week in a personal financial filing. Masters had $600,000.00 to $1.2million in Bitcoin as of August 15,. This is a drastic decrease from his $1.1-$5.2 million financial disclosures last fiscal year. Masters didn’t disclose any substantial profits from his Bitcoin investments, which suggests a decrease in overall worth rather than a possible sale.

Masters didn’t disclose any significant profits from Bitcoin investments.

Masters currently holds investments in Bitcoin Cash, Ethereum and Filecoin. Masters claimed that Filecoin and Tezos were both cryptocurrencies in which he had earned ‘interest’ over the past year. They claimed to have made between $1001 and $2,500 for each.

Although some cryptocurrencies have stabilized and gained value since June’s lows, Masters has seen its Bitcoin prices decline in line with the wider crash in cryptocurrency prices. Bitcoin is still below 60% in August 2021. Masters’ second-largest Ethereum holding has lost more than 50% of its market price (Masters’ Ethereum value range, $250,000-$500,000, did not change over the past year).

Masters’ campaign didn’t confirm that his assets had declined in value, but suggested to the Vergeon Monday to use his cryptocurrency investments to lend money to his campaign. Masters reported only between $100,001 to $250,000 in loans last week as part of his annual filing. The Verge reached out to the campaign spokesperson but he did not immediately reply.

Masters also revealed more than $300,000. in book royalties from zero to One. This was the Silicon Valley startup guide that Trump-endorsed candidate coauthored with Thiel in 2014.

After a candidate officially announces their candidacy for public office, they must file public financial disclosures each year. Although the disclosures do not require precise investment amounts, candidates must give an estimate range for significant assets investments including cryptocurrency.

Masters is running to unseat Senator Mark Kelly (D-Arizona). He has made cryptocurrency proliferation and federal adoption a key part of his campaign platform. Masters tweeted just before the market crash and compared it to Fort Nakamoto or Fort Knox. Masters offered NFTs to who contributed at least $5,800 to his campaign. He also claims that his campaign takes Bitcoin donations.

Masters stated that Bitcoin’s temporary caving value was only a possibility in a May Fox Businessinterview.

It’s not just crypto that is crashing, Masters said. Masters stated in the interview that everything is going down. But it is true that crypto’s extremely volatile. I tell people not to get involved in crypto. Only buy Bitcoin if they are ready to weather the storm. This is the Wild West.

According to a report, Taiwan’s Financial Supervisory Commission ( FSC), it has instructed credit card issuers as well as banks to prevent customers from using credit cards to pay for transactions related to cryptocurrency.

The watchdog cites the recent crypto market decline as well as persistent concerns over money laundering risk associated with virtual assets. It also refers to the fact that the virtual assets are highly speculative, extremely volatile and highly speculative.

Sources in the financial industry claim that the FSC sent the call to the Bankers Association of Taiwan in a letter earlier in July. The authority did not comment on the initial news, nor denied it. Forkast was later informed by the authority that it had requested credit card agencies to not sign on crypto service providers merchants.

The FSC insisted that credit cards be used as a payment instrument for consumption and not as a means of financial investment or speculative trading. It gave card holders three months to comply. The FSC reminded card holders of a previous requirement, which prohibits credit cards being used in transactions that are linked to stocks, futures and options.

Despite the recent adoption of anti-money laundering rules (AML) for service providers on the market, Taiwan’s crypto industry remains unregulated. It is still not finalizing a project to issue central bank digital currency (CBDC).

As part of ongoing trials of the prototype retail digital currency, the Taiwanese central banks completed a series technical simulations in closed-loop environments in June. The governor of the monetary authorities acknowledged that the bank might need to continue work on the CBDC for two more years than expected.

Almost all of Texas’ industrial-scale Bitcoin miners have come to a halt as the state tries to stave off power blackouts amid an intense heatwave, Bloomberg reported on Monday.

Bitcoin miners, including Riot, Argo, and Core Scientific, have shut down millions of computers in response to the heatwave that is expected to cause blackouts. Those Bitcoin miners were lured to Texas by lower energy bills.

Some have estimated that as much as 9% of the world’s cryptocurrency computing power is located in Texas, with America’s largest bitcoin mining operation located in the small town of Rockdale, Texas.

Bitcoin mining is an energy-intensive job. According to Columbia, the industry consumes 150 terawatt-hours of electricity every year-this is more than what the entire country of Argentina, a population of 45 million, consumes. This much energy emits 65 megatons of carbon dioxide every year into the atmosphere.

Earning bitcoin is achieved by computers running a series of complex calculations in order to find a solution to a math problem-a solution which is a string of numbers and letters that ultimately provide security for each Bitcoin transaction. These computers and their calculation efforts, and the cooling necessary to keep the machines running, are a significant drain on Texas’ energy grid, which has been struggling to keep the lights on during times of intense demand.

The Electric Reliability Council of Texas, or ERCOT, asked Texans today to conserve energy amid the heatwave, appealing to both individuals and businesses alike. The target hours for reduced energy consumption are between 2 p.m. and 8 p.m. ERCOT also suggested that there may be rolling blackouts.

This is the second time this year that the grid operator has asked for energy conservation amid a heatwave.

Houston’s mayor Sylvester Turner asked this weekend that city agencies be prepared for a possible power grid failure.