Bitcoin and Ether in red

Major cryptocurrencies were trading mixed early on October 7 as the global crypto market-cap declined 1.39 percent to $957.46 billion, over the last day. The total crypto market volume dropped 5.82 percent over the last 24 hours to $55.96 billion. The total volume in DeFi stood at $3.11 billion, which is 5.55 percent of the total crypto market 24-hour volume. The volume of all stable coins was $51.82 billion, which is 92.59 percent of the total crypto market 24-hour volume. Read full here

Crypto hostages recount horrifying experience

Two months ago, Abdul (name changed) made the decision to leave India in search of a better life, just like millions of other Indians who do the same thing every year. Armed with a college degree, Abdul, who hails from Telangana, had tried his hand at a few jobs in India but found that the income was never enough. When he was approached by a travel agency, which informed him of a data-entry operator position in Thailand paying Rs 1 lakh per month, the 26-year-old jumped at the chance. And so began Abdul's extraordinary journey, which took him to a remote area in Myanmar, across the Thailand border, where he was put up in "big buildings" and asked to work not as a data entry operator but as a crypto scammer." Read details here

Crypto exchanges cut fees to gain market share from rivals

Crypto exchanges are taking a page from mainstream brokers. To drum up business, the biggest exchanges are cutting fees. The crypto-market crash damped trading volumes, putting more pressure on crypto exchanges. Companies are hoping lower fees will help them capture market share from rivals. Over the past decade, Wall Street brokers and fund managers eliminated fees on stock trading and a host of investment products to win over customers. In many cases, the biggest asset managers have benefited the most from low fees because their scale allows them to still turn a profit—and funnel clients into higher-margin products. Take a look