Cryptocurrency market rose after the US jobs report
The data from the US employment report for September came in above analysts' expectations and suggests that the Fed will cut rates at a more moderate pace.
The cryptocurrency market reacted with immediate gains.
At the time of publication, bitcoin was up 2.4% to $62,265 in 24 hours, while etherium was up 3.4% to $2,425.
All major altcoins rose as well.
Daily liquidations fell from $300 million to $128 million, indicating that selling pressure is easing and bullish sentiment is returning.
The data from the US employment report for September came in above analysts' expectations and suggests that the Fed will cut rates at a more moderate pace.
The cryptocurrency market reacted with immediate gains.
At the time of publication, bitcoin was up 2.4% to $62,265 in 24 hours, while etherium was up 3.4% to $2,425.
All major altcoins rose as well.
Daily liquidations fell from $300 million to $128 million, indicating that selling pressure is easing and bullish sentiment is returning.
Hackers hacked LEGO's website and promoted a scam token
Toy manufacturer LEGO Group reported its official website was hacked on Oct. 5.
For about 75 minutes, the site advertised the alleged launch of the “LEGO Coin” - in fact, the attackers' scam token.
After clicking on the link, visitors ended up on a phishing site.
Now the problem has been solved and investigative actions to find the hackers are underway.
Toy manufacturer LEGO Group reported its official website was hacked on Oct. 5.
For about 75 minutes, the site advertised the alleged launch of the “LEGO Coin” - in fact, the attackers' scam token.
After clicking on the link, visitors ended up on a phishing site.
Now the problem has been solved and investigative actions to find the hackers are underway.
U.S. Supreme Court not against Silk Road bitcoin sales
The current U.S. Supreme Court, whose term runs through June 2025, has no plans to hear Battle Born Investments' appeal of the seizure of 69,370 BTC belonging to the Silk Road darknet.
The bitcoins were stolen from the illegal platform by user “Individual X”, while Battle Born claims to have acquired the rights to them legally.
U.S. authorities have their own claims to this cryptocurrency.
In 2022, the U.S. District Court for the Northern District of California ordered the government to “dispose of defendant's forfeited property in accordance with the law.”
The Supreme Court's refusal to hear Battle Born's appeal will result in the government's decision to seize bitcoins taking precedence.
The current U.S. Supreme Court, whose term runs through June 2025, has no plans to hear Battle Born Investments' appeal of the seizure of 69,370 BTC belonging to the Silk Road darknet.
The bitcoins were stolen from the illegal platform by user “Individual X”, while Battle Born claims to have acquired the rights to them legally.
U.S. authorities have their own claims to this cryptocurrency.
In 2022, the U.S. District Court for the Northern District of California ordered the government to “dispose of defendant's forfeited property in accordance with the law.”
The Supreme Court's refusal to hear Battle Born's appeal will result in the government's decision to seize bitcoins taking precedence.
Trump's DeFi project expands
Donald Trump's family's DeFi project World Liberty Financial has entered into an important strategic partnership with the developers of the Aave protocol.
The integration with Aave V3 will take place on the Ethereum core network.
The project will enable lending and borrowing in ETH, WBTC, USDC and USDT.
Donald Trump's family's DeFi project World Liberty Financial has entered into an important strategic partnership with the developers of the Aave protocol.
The integration with Aave V3 will take place on the Ethereum core network.
The project will enable lending and borrowing in ETH, WBTC, USDC and USDT.
Youtuber No. 1 - MrBeast made more than $10 million on tokens
According to crypto sleuth SomaXBT, MrBeast (Jimmy Donaldson), who has 320 million YouTube users subscribed to, has participated in token campaigns for SuperFarm, Polychain Monsters, SPLYT, STAK and Virtue Poker.
Some projects brought him 10X -30X but then ran into serious problems and devaluation.
- SomXBT said.
MrBeast has not yet commented on these investigations in any way.
According to crypto sleuth SomaXBT, MrBeast (Jimmy Donaldson), who has 320 million YouTube users subscribed to, has participated in token campaigns for SuperFarm, Polychain Monsters, SPLYT, STAK and Virtue Poker.
Some projects brought him 10X -30X but then ran into serious problems and devaluation.
“It's shady stuff they all (Influencers) did in the cryptocurrency market. If they had done it in the stock market, the SEC would have prosecuted them,”
- SomXBT said.
MrBeast has not yet commented on these investigations in any way.
Trump's website could not withstand the influx of buyers
Shortly after launching the sale of WLFI tokens, the website of Donald Trump-backed crypto platform World Liberty Financial couldn't handle the increased traffic and was inaccessible for several hours.
According to Etherscan, there are currently fewer than 4,200 token holders, although the list of accredited investors has been expanded to include about 100,000 people.
Shortly after launching the sale of WLFI tokens, the website of Donald Trump-backed crypto platform World Liberty Financial couldn't handle the increased traffic and was inaccessible for several hours.
According to Etherscan, there are currently fewer than 4,200 token holders, although the list of accredited investors has been expanded to include about 100,000 people.
U.S. lags behind other countries in adoption of stablecoins
The States are seeing record bitcoin activity following the launch of the BTC-ETF
However, the adoption of stablecoins has slowed down, a Chainalysis report from October 17 shows. The share of stackablecoin transactions on regulated US platforms has fallen from 50% in 2023 to less than 40% in 2024, while the share on unregulated platforms has surpassed 60%.
The lack of a clear regulatory framework for stackablecoins in the U.S. allows financial centers in Europe and the UAE to attract more crypto projects with a favorable environment, which poses a threat to U.S. interests in the global financial sphere.
The States are seeing record bitcoin activity following the launch of the BTC-ETF
However, the adoption of stablecoins has slowed down, a Chainalysis report from October 17 shows. The share of stackablecoin transactions on regulated US platforms has fallen from 50% in 2023 to less than 40% in 2024, while the share on unregulated platforms has surpassed 60%.
The lack of a clear regulatory framework for stackablecoins in the U.S. allows financial centers in Europe and the UAE to attract more crypto projects with a favorable environment, which poses a threat to U.S. interests in the global financial sphere.
SEC approved trading of options on spot bitcoin-ETFs
“Expedited approvals” to list and trade options on bitcoin-based exchange traded funds have been granted to the NYSE and Cboe stock exchanges.
The approval applies to ETFs of the following companies:
Fidelity Investments - FBTC;
VanEck - HODL;
Ark Invest and 21Shares - ARKB;
Invesco and Galaxy Digital - BTCO;
Grayscale Investments - GBTC and BTC;
Franklin Templeton - EZBC;
WisdomTree - BTCW;
Valkyrie - BRRR;
Bitwise Asset Managment - BITB;
BlackRock - IBIT.
“Expedited approvals” to list and trade options on bitcoin-based exchange traded funds have been granted to the NYSE and Cboe stock exchanges.
The approval applies to ETFs of the following companies:
Fidelity Investments - FBTC;
VanEck - HODL;
Ark Invest and 21Shares - ARKB;
Invesco and Galaxy Digital - BTCO;
Grayscale Investments - GBTC and BTC;
Franklin Templeton - EZBC;
WisdomTree - BTCW;
Valkyrie - BRRR;
Bitwise Asset Managment - BITB;
BlackRock - IBIT.
The digital rupee could squeeze cryptocurrencies in India
According to local media reports, Indian regulators are considering banning private decentralized cryptocurrencies such as Bitcoin in favor of central bank digital currency (CBDC).
Officials consider CBDC safer for paying subsidies to the public and are wary of private stablecoins, especially those pegged to gold.
The digital rupee was launched first in the wholesale and then retail segments in late 2022, and already includes more than 5 million users and 16 participating banks.
The decision to ban private cryptocurrencies has not yet been made, but is being actively discussed by the authorities.
According to local media reports, Indian regulators are considering banning private decentralized cryptocurrencies such as Bitcoin in favor of central bank digital currency (CBDC).
Officials consider CBDC safer for paying subsidies to the public and are wary of private stablecoins, especially those pegged to gold.
The digital rupee was launched first in the wholesale and then retail segments in late 2022, and already includes more than 5 million users and 16 participating banks.
The decision to ban private cryptocurrencies has not yet been made, but is being actively discussed by the authorities.
French whale bet $28m on Trump
Representatives of betting platform Polymarket have identified the whale trader who bet a total of $28 million on Donald Trump's victory.
He turned out to be an unnamed French citizen with a background in finance and trading, holding four separate accounts - Fredi9999, Theo4, PrincessCaro and Michie.
Earlier, observers suggested that abnormally high bets on one of the candidates distorted the overall vote distribution and may have been done deliberately.
Polymarket stated that it contacted the trader and he assured that his positions are based on personal sympathies and are not intended to distort the result of the upcoming vote.
Representatives of betting platform Polymarket have identified the whale trader who bet a total of $28 million on Donald Trump's victory.
He turned out to be an unnamed French citizen with a background in finance and trading, holding four separate accounts - Fredi9999, Theo4, PrincessCaro and Michie.
Earlier, observers suggested that abnormally high bets on one of the candidates distorted the overall vote distribution and may have been done deliberately.
Polymarket stated that it contacted the trader and he assured that his positions are based on personal sympathies and are not intended to distort the result of the upcoming vote.
Pennsylvania House Passes Cryptocurrency Bill
The Pennsylvania House of Representatives approved bipartisan bill HB-2481, allowing residents to self-custody cryptocurrencies and use them for payments. The "Digital Assets Authorization Act" passed with 176 votes for and 26 against, but it still needs Senate approval and the governor's signature to become law.
The bill aims to enhance economic freedom and innovation while providing over 1.5 million Pennsylvanians clear rules for engaging with digital assets.
The Pennsylvania House of Representatives approved bipartisan bill HB-2481, allowing residents to self-custody cryptocurrencies and use them for payments. The "Digital Assets Authorization Act" passed with 176 votes for and 26 against, but it still needs Senate approval and the governor's signature to become law.
The bill aims to enhance economic freedom and innovation while providing over 1.5 million Pennsylvanians clear rules for engaging with digital assets.
Crypto.com has overtaken Coinbase in terms of trading volume in North America
Crypto.com has become the leading cryptocurrency exchange in North America, surpassing Coinbase with a trading volume of $133 billion.
The exchange's launch of spot ETFs on Ethereum and focus on institutional clients are considered one of the reasons for its success.
The platform captured 38.5% of the USD-backed spot trading market and outperformed its competitors.
According to statistics, Crypto.com has recorded a 3-fold increase in the average size of transactions since the beginning of this year, which allows the exchange to maintain its leading position amid increased competition in the industry.
Crypto.com has become the leading cryptocurrency exchange in North America, surpassing Coinbase with a trading volume of $133 billion.
The exchange's launch of spot ETFs on Ethereum and focus on institutional clients are considered one of the reasons for its success.
The platform captured 38.5% of the USD-backed spot trading market and outperformed its competitors.
According to statistics, Crypto.com has recorded a 3-fold increase in the average size of transactions since the beginning of this year, which allows the exchange to maintain its leading position amid increased competition in the industry.
Florida is considering new investments in cryptocurrency
Florida Chief Financial Officer Jimmy Patronis said the state has invested about $800 million in “crypto-assets” and has proposed directing a portion of pension funds into bitcoin. In his opinion, the cryptocurrency could serve as a financial hedge against federal intervention and bolster the state's retirement savings
In addition, Patronis supported the idea proposed by Donald Trump to create a national cryptocurrency reserve so that the U.S. can compete with China, which is actively increasing its influence in the crypto industry
Florida Chief Financial Officer Jimmy Patronis said the state has invested about $800 million in “crypto-assets” and has proposed directing a portion of pension funds into bitcoin. In his opinion, the cryptocurrency could serve as a financial hedge against federal intervention and bolster the state's retirement savings
In addition, Patronis supported the idea proposed by Donald Trump to create a national cryptocurrency reserve so that the U.S. can compete with China, which is actively increasing its influence in the crypto industry
Polygon and a startup from PayPal have launched a new platform called Newton
The new cross-chain network is designed to make using decentralized applications (dapps) across multiple blockchains as seamless as browsing the internet.
This is similar to the use of the SWIFT system in traditional finance.
Newton will allow developers to create dapps on different chains, without the need for users to have multiple wallets.
The new cross-chain network is designed to make using decentralized applications (dapps) across multiple blockchains as seamless as browsing the internet.
This is similar to the use of the SWIFT system in traditional finance.
Newton will allow developers to create dapps on different chains, without the need for users to have multiple wallets.
Trump will give the green light to mergers and acquisitions
Merger consultants are predicting an increase in cryptocurrency M&A deals during Donald Trump's presidency.
Crypto firms that have already announced plans for such deals include Stripe Inc and Tether.
Tether said in June that it expects to invest $1 billion over the next 12 months to acquire new businesses.
Stripe Inc, worth about $70 billion, last month announced plans to acquire steblicoin startup Bridge for about $1.1 billion.
Merger consultants are predicting an increase in cryptocurrency M&A deals during Donald Trump's presidency.
Crypto firms that have already announced plans for such deals include Stripe Inc and Tether.
Tether said in June that it expects to invest $1 billion over the next 12 months to acquire new businesses.
Stripe Inc, worth about $70 billion, last month announced plans to acquire steblicoin startup Bridge for about $1.1 billion.
Bernstein: welcome to the bull market
On November 11, bitcoin once again hit an all-time high above $84,000, and the day before, Bernstein analysts said the bull market had already begun and urged investors to increase exposure to the crypto industry “as soon as possible.”
The team, led by Gautam Chhugani, offered solutions for both institutional investors and ordinary investors.
However, The Block does not rule out that analysts may have long positions in some tokens, and the company is acting in partnership with those it advertises.
On November 11, bitcoin once again hit an all-time high above $84,000, and the day before, Bernstein analysts said the bull market had already begun and urged investors to increase exposure to the crypto industry “as soon as possible.”
The team, led by Gautam Chhugani, offered solutions for both institutional investors and ordinary investors.
However, The Block does not rule out that analysts may have long positions in some tokens, and the company is acting in partnership with those it advertises.