The cryptocurrency market wrapped up another eventful week with major developments across the industry. Former Binance CEO Changpeng Zhao (CZ) was released from prison, while Bitcoin (BTC) and altcoins maintained bullish momentum over the past seven days. Meanwhile, Shiba Inu (SHIB) captured attention by extending its weekly gains to over 35% amid community advancements.

Here’s a roundup of some key crypto headlines from the past week:

CZ Released From Prison

Binance founder Changpeng “CZ” Zhao was freed this week after serving 118 days in prison, sparking discussions throughout the crypto space. This follows the former CEO’s arrest for violating anti-money laundering (AML) regulations. Zhao’s imprisonment concluded after completing a four-month sentence, though he was released two days early. The Binance founder recently marked his return on social media platform X.

BTC, Shiba Inu, & Broader Crypto Market Rally

The cryptocurrency market embarked on a notable bullish trend over the past week as September, historically the weakest month for stocks and assets, comes to a close. Bitcoin price surged nearly 5% in the past seven days, with the altcoin sector mirroring positive sentiment.

Recent analysis suggests BTC price could potentially reach $100,000 amid China’s monetary policy shifts, including a 50 basis point cut in the reserve requirement ratio and a 20 basis point reduction in key short-term interest rates. Meanwhile, expectations of an “Uptober” rally are building in the market alongside Bitcoin’s upward momentum.

Simultaneously, Shiba Inu extended its weekly gains to almost 35%, aligning with Bitcoin’s bullish trend. The SHIB community sparked further optimism with a series of developments this week. SHIB executive Lucie hinted at an upcoming SHI stablecoin launch, while lead developer Shytoshi Kusama teased potentially game-changing news for SHIB in the coming week. Additionally, a significant increase in the Shiba Inu burn rate contributed to positive price sentiment.

Overall, the cryptocurrency market experienced heightened activity over the past week, primarily driven by these notable developments.