FTX Collapse, HBO's Satoshi Nakamoto Reveal, and More: Key Crypto Events to Watch This Week

The crypto markets are gearing up for a news-packed week, with several key events on the horizon. Meanwhile, Bitcoin (BTC) flipped green after climbing above $63,000, signaling that “Uptober” might be in play again.

Several key events are set to unfold in the crypto markets this week, promising to keep traders on their toes. Among the highlights are court hearings related to FTX creditor repayments, delistings on OKX exchange, and the much-anticipated HBO documentary on Satoshi Nakamoto's identity. Here's a closer look at the top crypto news for the week.

FTX Court Hearing

One of the most pressing matters in the crypto space is the upcoming court hearing regarding FTX creditor repayments. The deadline for the hearing is October 7, and there's chatter that the exchange will begin distributing $16 billion to its creditors sometime this month.

As reported by BeInCrypto, the atmosphere is tense, with creditors expressing dissatisfaction over the meager compensation they're receiving. Activist Sunil Kavuri took to X to share his expectations.

According to Kavuri, if the court approves the repayment plan, claimants expecting less than $50,000 could start receiving payments by late 2024. However, those owed larger sums may have to wait until mid-2025.

Meanwhile, the FTX token (FTT) has been experiencing significant volatility amidst the buzz about the upcoming hearing. Notably, token deposits surged as traders positioned for potential exits amid the anticipated price movements ahead of the crucial hearing.

OKX Delists Five Tokens

Another noteworthy development is OKX exchange's announcement to delist five tokens, as reported in late September. On October 8, the exchange will halt spot trading for REN, TAKI, LEASH, ORB, and KINE tokens.

“We advise users to cancel orders on these trading pairs (REN/USDT, REN/USDC, TAKI/USDT, LEASH/USDT, ORB/USDT, and KINE/USDT) before the delisting. Otherwise, the system will automatically cancel these orders. The cancellation may take 1-3 working days,” the exchange stated.

Typically, token delistings lead to a drop in trading volume and liquidity, making it harder for holders to sell at fair prices. This often results in sharp price declines as investors either panic sell or lose confidence in the token. Consequently, holders may face substantial losses in the value of their assets.

EIGEN and APT Token Unlocks

EIGEN token holders can expect volatility ahead with $35.75 million worth of unlocks set to occur on Tuesday. According to an official announcement from the Eigen Foundation, this unlock event will present new opportunities for participation across the EigenLayer ecosystem. Notably, it will mark the network's first cliff unlock event.

On Friday, October 11, the Aptos ecosystem is preparing to unlock 11.31 million APT tokens, valued at $97 million based on current prices. These tokens will be distributed among the foundation, community, core contributors, and investors.

Among the unlocked tokens, those allocated to the community and investors may enter the market quickly as holders cash in for short-term profits. This influx could potentially impact APT's price, creating downward pressure.

HBO's Big Satoshi Nakamoto Reveal

One of the most intriguing developments this week is the highly anticipated HBO documentary set to premiere on Tuesday, which may finally unveil the identity of Satoshi Nakamoto.

According to opinion polls on Polymarket, Len Sassaman is emerging as the favorite candidate to be revealed as the creator of Bitcoin. Sassaman, now late, was an American technologist, cryptographer, and privacy advocate a befitting profile for the pseudonymous Satoshi Nakamoto.

Sassaman is also notably mentioned as being the biggest crypto billionaire ever, currently holding 1.1 million BTC tokens, valued at almost $67.5 billion at current rates.

“Len Sassaman’s wife had direct communication with the “creator” of Bitcoin After he died she was “thinking about” fundamentally altering Bitcoin She still has access to his “old hard drives” which means she has access to 1 million Bitcoin (5% of all Bitcoin, worth nearly$65 billion),” commented one X user.

Stacks Nakamoto Hard Fork

The term 'Nakamoto' will be making headlines twice this week, with the second being the upcoming Stacks hard fork, scheduled for October 9. This major upgrade on the Stacks network is designed to bring several benefits, with the primary ones being increased transaction throughput and 100% Bitcoin finality.

With this upgrade, the Stacks blockchain will realize new capabilities and improvements, focusing on key advancements. These include faster transaction speeds, enhanced finality guarantees for transactions, reduced Bitcoin miner MEV (miner extractable value) opportunities that affect PoX, and improved robustness against chain reorganizations.

PEPPER Airdrop Snapshot

Following the first snapshot on September 30, Chiliz (CHZ) is set for another airdrop of its PepperChain (PEPPER) token to CHZ holders on October 10, across major exchanges outside the US.

The PEPPER airdrop is