The sharp price increases in bitcoin (BTC) appeared to halt on Wednesday morning as traders probably cashed out of a week-long surge that saw prices rise as much as 25% in anticipation of the U.S. government approving spot exchange-traded funds (ETFs).Major tokens moved in different directions. Cardano’s ADA fell 2%, while Solana’s SOL tokens gained 3%, bringing the total gain for the week to about 30%.As traders played down concerns about an impending sell-off by the FTX bankruptcy estate, SOL token values increased. With a gain of 0.42%, the CoinDesk Market Index (CMI), a comprehensive tracker of hundreds of tokens, indicated modest advances in the market as a whole.A negative market known as “crypto winter,” which is marked by lower pricing and few venture capital expenditures, may be coming to an end, according to some traders, if institutional adoption becomes apparent. “What we are potentially seeing is a permanent thawing of so-called ‘crypto winters.’ While the digital asset market will always have bulls and bears, institutional adoption is pushing us closer to perpetual spring,” shared Diogo Mónica, co-founder at Anchorage Digital, referring to the many spot ETF applications. “Between recent price action and movement

According to reports, options range from selling the exchange as a whole—including its sizable customer base of over nine million—to possibly partnering with another organisation in order to revitalise the platform. After filing for bankruptcy, FTX is giving serious thought to its future. The company’s investment banker, Kevin Cofsky of Perella Weinberg Partners, reportedly disclosed

The sales and exchanges carried out in 2025 are expected to be impacted by the proposed regulations when they take effect in 2026. The time for comments on the proposed August 2023 crypto tax reporting rules has been extended by the Internal Revenue Service (IRS) of the United States. The deadline for the public consultation

According to the statement, the digital euro will make electronic payments an essential component of the financial system. Spain’s central bank, Banco de España, has joined a chorus of European banks readying their clientele for the possible advantages of a digital euro. On October 19, the central bank released a brief statement outlining the characteristics

With bitcoin (BTC) trading above $34,000 for the second day in a row, shares of firms involved in the cryptocurrency space soared. This was due to optimism that the U.S. Securities and Exchange Commission (SEC) would eventually approve an exchange-traded fund (ETF) that tracks the spot price of the largest cryptocurrency.At the time of writing, the stocks of cryptocurrency financial services company Galaxy Digital (GLXY), software company MicroStrategy (MSTR), which owned more than 158,000 bitcoin on its balance sheet, and cryptocurrency exchange Coinbase (COIN) had all increased by more than 14% on Tuesday. More than 15% was contributed by bitcoin mining firms that are more susceptible to changes in the value of digital currencies, such as Marathon Digital (MARA), Riot Platforms (RIOT), CleanSpark (CLSK), and Mawson Infrastructure (MIGI).Additionally rising, the S&P 500 and Nasdaq equity indices ended a five-day losing run.The sharp increase in bitcoin’s price on Monday—which reached $35,000—was the catalyst for the market’s advance in stocks related to cryptocurrencies.The planned BlackRock exchange-traded fund (ETF) raised hopes when it appeared with the ticker $IBTC on the website of Depository Trust & Clearing Corp. (DTCC), a major U.S. market utility that handles all securities transactions. Massive players in conventional finance (TradFi), such as BlackRock, filed for a spot ETF with the SEC earlier this year, sparking excitement over a possible spot bitcoin ETF.The asset managers, akin to those overseeing a physically backed gold ETF, will have to purchase, hold, and preserve the digital assets for their clients if permitted. This might lead to an increase in the value of the underlying cryptocurrencies as well as their entire market. “Authorised participants will have to buy bitcoin if a spot ETF gets approved in order to create shares for an eventual ETF, which will result in significant flows to buy an increasingly illiquid supply of bitcoin,” said CoinShares head of research James Butterfill. According to Butterfill, investors’ perceptions of bitcoin will significantly change if the surge reaches $40,000 in value.“Market participants would be in full anticipation of it being ‘mainstreamed’ and accepted as a major asset class (like existing ones such as gold etc.).”But he issued a warning: given the erratic nature of digital currencies, the price might go sharply in the opposite direction if there is any unfavorable information about when the approval will happen. “Any detriment to the early ‘24 timeline for

The head of Binance’s U.K. operations left the company last month, joining a growing list of senior executives leaving the biggest cryptocurrency exchange in the world. According to his LinkedIn profile, Jonathan Farnell, the former CEO of Binance U.K. and CEO of its payment service Bifinity (which was dissolved in August), departed the company in

Noble, an asset issuance chain designed to facilitate communication between blockchains, was created by NASD Inc., which has raised $3.3 million in a seed round. Polychain Capital led the fundraising, which also included participation from Circle Ventures, Borderless Capital, and Wintermute Ventures. Noble is a component of the inter-blockchain communication protocol (IBC), which facilitates data

A spot exchange-traded fund (ETF) is expected to be approved, and institutional investors are licking their chops to purchase bitcoin (BTC). The ticker for a BlackRock ETF appeared on the Depository Trust & Clearing Corp. (DTCC) website on Tuesday, sparking the largest cryptocurrency in the world to surge to a 17-month high of $35,000. According

Tom Emmer, a Republican from Minnesota who has co-chaired the Congressional Blockchain Caucus and sponsored several bills pertaining to cryptocurrencies in recent years, announced on Saturday that he is running for the Speaker of the House. Moving legislation and scheduling votes, the Speaker of the House is in charge of the House of Representatives. Having

On October 24, the controversial and ambitious Worldcoin (WLD) project will convert operator rewards from USDC stablecoins to its WLD tokens, thereby increasing the amount of tokens that are available for purchase on the open market. In a recent post, Worldcoin stated, “The WLD token was launched with a relatively low circulating supply of just

The financial regulator in Hong Kong has expanded on previous guidelines that restricted the sale of spot products to accredited investors, thereby enabling intermediaries to provide their services to a broader customer base. “The policy is updated in light of the latest market developments and enquiries from the industry seeking to further expand retail access

MicroStrategy’s (MSTR) bitcoin (BTC) holdings have once again been profitable as the cryptocurrency’s price has risen to around $31,000 on Monday morning.When bitcoin fell about 80% from its peak in November 2021, the company’s hoard was severely undervalued in the latter part of 2022. However, events like the impending halving event and the release of a spot ETF helped turn things around, resulting in a nearly doubling of the price this year. Michael Saylor, who was once MicroStrategy’s CEO and is currently its executive chairman, has developed into one of the cryptocurrency’s most ardent backers and is still a frequent buyer.The only sale his company has made thus far is a 708 bitcoin deal that was valued at $11 million in December 2022. The corporation added 5,445 bitcoins for slightly under $150 million, or an average price of $27,053 apiece, in the weeks leading up to September 24 of this year. These transactions were the most recent ones that are known to the public.This increased MicroStrategy’s total bitcoin holdings to 158,245 at an average price of $29,582 apiece, or an approximate purchase price of $4.68 billion. With a gain of about $160 million at the current price of $30,650, the bitcoin wager is profitable at around $1,000 per coin.According to data from Bitcoin Treasuries, the corporation owns 158,245 bitcoins, which is over 14 times more than the next closest institutional holder. Moreover, MicroStrategy may be purchasing much more.The business announced in August that it could sell up to $750 million worth of stock in order to acquire funds, with the intention of using some of the profits to buy bitcoin.

Because a new class of replacement cycling attacks poses a threat to the Lightning Network, Antoine Riard thinks the Bitcoin community is facing a “hard dilemma.” Citing security flaws and underlying difficulties in the Bitcoin ecosystem, security researcher and developer Antoine Riard is leaving the Lightning Network development team. A new class of replacement cycling

John Deaton, a supporter of cryptocurrencies and attorney, has criticized the Lightning Network, saying that the “Spend The Bits” protocol on the XRP Ledger (XRPL) is more efficient. For Bitcoin, layer-2 scaling is provided by Lightning.By facilitating off-chain, peer-to-peer transactions, it is intended to increase the efficiency and scalability of Bitcoin transactions. Deaton disclosed that he is an angel investor and Spend the Bits’ chief legal officer in a message published on October 21 on X (previously Twitter).Spend The Bits, a Bitcoin blockchain substitute for Lightning, was previously hailed by Deaton.The protocol was praised by the pro-XPR lawyer in September, who described it as a more secure way to use Bitcoin than Lightning. The timing of Deaton’s admission on Saturday coincided with an X post from online cryptocurrency investigator WhaleWire.Concerns were expressed in this tweet on a recent finding in Lightning that pointed to a serious security flaw and forced a developer to leave the project.According to the developer, the Lightning Network’s code contains intentional flaws that might give attackers total control over the network.Significant supporters of Bitfinex, Tether, and BlockStream are also associated with the Lightning Network.The security and reliability of Lightning have come under scrutiny in light of this revelation. According to 1ML, the Lightning Network has a 5,338 BTC network capacity as of this writing.With the payment protocol experiencing a 15% decrease in capacity over the previous three months, this has raised concerns about the network’s resiliency and long-term survival.

Rep. Tom Emmer, a Republican who is supportive to cryptocurrencies, is running for speaker of the US House of Representatives. Several politicians have endorsed the 62-year-old.After the initial round of voting on October 17, Representative Patrick McHenry is still in charge of the post in an interim capacity.Jim Jordan, the Republican Party’s choice for speaker, was unable to receive enough votes to take over as speaker.Reporter Jake Sherman of NBC News first brought attention to Emmer’s search on October 20. Sherman wrote on X (previously Twitter) that Emmer “has told members of the House Republican Conference that he will seek the nomination for speaker.” “The Minnesotan is currently the No. 3 House Republican. He’ll immediately become the frontrunner in this race,” Sherman added. Additionally, according to CBS News, an unidentified source close to Emmer revealed that he was “making calls” to seek the nomination.McHenry does not have the power to advance legislation in the House as the acting Speaker.As a result, work on a number of bills—including ones pertaining to cryptocurrency—has stopped, underscoring the need of choosing a new speaker.Members of the cryptocurrency community would probably appreciate Emmer’s decision to become Speaker.Emmer has advocated for digital assets on numerous occasions and has a track record of opposing the U.S. Securities and Exchange Commission’s enforcement-based approach to regulation, which is led by Gary Gensler. The public has already shown some support for Emmer.On October 20, Representative Brad Finstad issued a statement endorsing Emmer for the speakership. “From the day that I arrived in Congress, it has been a privilege to work alongside

Users of FTX have reported getting misleading emails that seem to have come from FTX Trading, FTX EU, and West Realm Shires Services. There is a withdrawal fraud that is allegedly targeting FTX consumers. Sunil, an advocate for FTX creditors and user of X (previously Twitter), warned FTX account holders of a phishing scheme and

The US Securities and Exchange Commission (SEC) has sued Binance; a coordinated defence effort is in progress. Based on allegations that date at least as far back as July 2017, this lawsuit asserts that Binance, led by CEO Changpeng Zhao, operated as unregistered exchanges, brokers, dealers, and clearing agencies, earning a sizable amount of money