Ledger releases private keys 🎊, Chinese CBDC used for oil deal 🇨🇳, Bitcoin price surge drives BTC-related stocks 💰
Daily Crypto, Blockchain & Web3 Update 2023-10-24
CRYPTOCURRENCY
BlackRock’s spot Bitcoin ETF now listed on Nasdaq trade clearing firm — Bloomberg analyst (3 min read)
BlackRock's proposed iShares spot Bitcoin exchange-traded fund (ETF) has been listed on the Depository Trust & Clearing Corporation (DTCC), which could indicate possible approval by the United States Securities and Exchange Commission.
Bitcoin price surge drives BTC-related stocks to new multiweek highs (3 min read)
MicroStrategy, a public company that holds the most Bitcoin, made almost $1 billion in unrealized gains on its BTC investment. This happened when its stocks increased by nearly 9% on October 24th.
Monday’s Bitcoin price surge has catapulted Bitcoin-related stocks to new heights, with the likes of Coinbase.
Ledger hardware wallet rolls out cloud-based private key recovery tool (1 min read)
Ledger, the hardware wallet company, is launching its cloud-based private key recovery solution despite receiving considerable criticism from the cryptocurrency community. Ledger clarified that the ID checks needed for their private key recovery tool are different from KYC checks, as they require less information.
Chinese digital yuan CBDC used for first time to settle cross-border oil deal (3 min read)
The digital yuan was used for the first time in an oil transaction, as announced by the Shanghai Petroleum and Natural Gas Exchange (SHPGX). PetroChina International bought 1 million barrels of crude on Oct. 19.
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US Congress remains legislatively paralyzed on crypto bills without a House speaker (4 min read)
No legislation has passed through the United States Congress since Kevin McCarthy was removed as Speaker of the House on Oct. 3. This marks the first time in U.S. history that the legislative body has been without elected leadership, with no definitive plan to fill the slot.
Coinbase hoses down rumors of weekly withdrawal limits on Bitcoin (2 min read)
Coinbase denies rumors of a $5,000-per-week limit on Bitcoin withdrawals. Coinbase has denounced rumors of it imposing Bitcoin withdrawal limits circulating on social media as inaccurate.
California bill aims to cap crypto ATM withdrawals at $1K per day to combat scams (2 min read)
California lawmakers have introduced a bill called "Digital financial asset transaction kiosks" to address the increase in scams. The bill aims to limit withdrawals from crypto ATMs to $1,000 per day. Additionally, starting in 2025, the law would limit operators’ fees to $5 or 15% (whichever is higher).
Bitcoin price rockets to $35K as ETF excitement grows (2 min read)
The price of Bitcoin broke through the $35,000 mark for the first time since May 2022, marking a staggering gain in the past 24 hours. The price of Bitcoin suddenly spiked upward on Oct. 23, with BTC gaining more than 10% from $31,000 to over $34,000.
Rug pull feared as Safereum devs reportedly unlock and dump native token (4 min read)
The crypto community is worried because Safereum's liquidity decreased significantly after the team raised $600,000 in funding.
Privacy firm Nym launches $300M fund, eyes Web3 wallets, RPCs & infrastructure services (3 min read)
Nym Technologies, a company specializing in blockchain privacy, has started a funding program worth $300 million. The program intends to offer financial support to projects focused on creating secure infrastructure.
Crypto products see 4th week of inflows amid race for Bitcoin ETFs: CoinShares (3 min read)
Crypto investment products have seen four weeks of inflows as the market eagerly anticipates the potential approval of a Bitcoin exchange-traded fund (ETF) in the United States. Bitcoin products took the largest share of inflows, netting 84% of incoming funds, according to CoinShares’ weekly fund flows report.
Cathie Wood’s ARK sells Grayscale Bitcoin Trust shares as BTC hits $34K (4 min read)
ARK Investment firm is selling shares of Grayscale Bitcoin Trust (GBTC) due to the market surge caused by the anticipation of a spot BTC exchange-traded fund (ETF). The Grayscale Bitcoin Trust is the largest asset held by the ARK Next Generation Internet ETF, accounting for more than 10% of its portfolio.
Largest DeFi protocol on Solana reportedly quits UK market, citing FCA rule (2 min read)
Marinade Finance has $265 million locked on the Solana blockchain, which is 70% of all locked funds.
Bitcoin price surge sees significant asset outflow on crypto exchanges (3 min read)
On October 24, major cryptocurrency exchanges saw a decrease in the amount of Bitcoin being held as the price briefly reached $35,000, a level not seen in a year. Moving funds away from exchanges is seen as a positive sign. It means traders are protecting their assets in safe storage, anticipating a rise in prices.
Stablecoin market escaping US regulatory oversight: Chainalysis (2 min read)
According to a report by Chainalysis, the US government might be losing control over the stablecoin market. Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, according to Chainalysis.