KOEN

India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities across India.

During the last month, the market capitalization of all the stablecoins in existence dropped by more than 2%, shedding roughly $2.98 billion since the end of October. Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last 30 days. Tether’s market cap slipped from last month’s $69.13 billion to today’s $65.48 billion.

Vnindex has increased by 25 points, approaching the 1000 mark!

Experts recognize that not bravely "cut loss" is one of the basic mistakes of stock investors. In fact, losing stocks will need greater growth to break even. For example, if a stock is down 50%, it must go up to 100% to break even.

DATA SHOWS THAT BITCOIN’S LIGHTNING NETWORK HAS SOLVED THE SCALABILITY PROBLEM:
Many Bitcoiners have heard of Bitcoin’s “lack of scalability” — it is one of the most common critiques waged against the project by both gluttonous cryptocurrency competitors and incumbent establishment actors.

Some oldtimers may remember the heated, bathed-in-controversy Blocksize Wars of 2015 to 2017 which, aided by industry insiders, most shallowly aimed to make Bitcoin scale to more transactions by increasing the maximum block size and by doing so, almost set precedent and changed Bitcoin’s future course forever.
It is worth noting that all of these characteristics sit on separate, complex spectrums. For example, you don’t become “secure” over a certain threshold, it is very dependent on the use case and many different characteristics.

Bitcoin is slow for a reason. It explicitly picked to optimize the “security” and “decentralization” sections of the trilemma, leaving “scalability” (transactions per second) on the sideline.

The key realization is that, much like today’s internet and financial system, it is more optimal to comprise the whole system of separate layers, where each layer optimizes for and is used for different things.

Bitcoin, the base layer, is a globally-replicated public ledger — every transaction is broadcast to every participant in the network. It is evident that one cannot practically scale such a ledger to accommodate the entire world’s growing transaction rate. Apart from being impractical and privacy damaging, its drawbacks vastly outweigh its insignificant benefits.

𝐂𝐫𝐲𝐩𝐭𝐨 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐚𝐢𝐧𝐬, 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐔𝐩 𝟓%, 𝐄𝐭𝐡𝐞𝐫𝐞𝐮𝐦 𝐔𝐩 𝟕%
Bitcoin gained 5.2 per cent, while Ethereum was up by 7.4 per cent. Solana was up by 16.2 per cent, while Curve DAO token was the top gainer, gaining 44.9 per cent to $0.625
Cryptocurrency prices were trading in the green on Wednesday evening. Both Bitcoin and Ethereum gained along with other altcoins. Dogecoin, a meme coin, gained 9.03 per cent.

Today’s most trending crypto was Curve Dao Token, which is the native token of decentralised exchange for Stablecoins.
𝐂𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐏𝐫𝐢𝐜𝐞𝐬
Bitcoin: BTC gained 5.2 percent to $16,580 in the last 24 hours. Its market cap stood at $318.5 billion. Its intraday low was $15,698. Later, its trading volume increased 3.9 per cent to $33.5 billion.
Ethereum: The price of Ethereum was up by 7.4 per cent to $1,171 in the last 24 hours as of Wednesday evening. ETH’s market stood at $143.4 billion. Its trading volume increased 7.4 per cent to $12.2 billion.

Other Altcoins: Solana’s (SOL) price was up by 16.2 per cent to $13.13 on November 23, 2022.

FDI Equity Inflows Dip 14% During April-September To $26.9 Billion
The total FDI inflows (which includes equity inflows, re-invested earnings and other capital) too declined to USD 39 billion during the first six months of the current fiscal year as against USD 42.86 billion in the year-ago period.
Foreign Direct Investment (FDI) equity inflows into India contracted by 14 per cent to USD 26.9 billion during the April-September this fiscal, according to the data of the Department for Promotion of Industry and Internal Trade (DPIIT).
The inflows had stood at USD 31.15 billion during the corresponding period of the previous year.

The total FDI inflows (which includes equity inflows, re-invested earnings and other capital) too declined to USD 39 billion during the first six months of the current fiscal year as against USD 42.86 billion in the year-ago period.

During the first half of this fiscal, Singapore emerged as the top investor with USD 10 billion FDI. It was followed by Mauritius (USD 3.32 billion), UAE (USD 2.95 billion), USA (USD 2.6 billion), the Netherlands (USD 1.76 billion), and Japan (USD 1.18 billion), the data showed.
The computer software and hardware sector attracted the highest inflows of USD 6.3 billion during the six-month period of this fiscal.

It was followed by services (USD 4.16 billion), trading (USD 3.28 billion), chemicals (USD 1.3 billion), automobile industry (USD 932 million) and construction (infrastructure) activities (USD 990 million).

Bitcoin Price Sinks to Lowest Level in 2 Years
A mixture of high-profile bankruptcy fears, regulatory pressure, and rampant short selling have crushed the price of Bitcoin.
At $15,649, Bitcoin has hit its lowest price since November 2020, as per CoinGecko data.

The latest price crash represents a fall of over 26% from $21,418 on November 5, before word of any of FTX’s financial issues leaked out
According to sources reported by Bloomberg, the lender had been talking with private equity firm Apollo Capital and crypto exchange Binance about financing and attempted to raise $1 billion to fix its liquidity crisis.

A representative of the lender told Decrypt: "We have no plans to file bankruptcy imminently” and that its goal "is to resolve the current situation consensually without the need for any bankruptcy filing.”

Genesis pinpointed the sudden surge in customers looking to withdraw their assets in the immediate collapse of FTX as the main cause of their current financial woes
n addition, both regulatory and market pressures are contributing to Bitcoin’s historically bad performance.

Fidelity, one of the world's largest institutional investors and the largest provider of U.S. 401(k) savings accounts, has also recently come under new scrutiny from some U.S. politicians to drop its 401(k) Bitcoin plan.
The Boston-based firm, which has around $9.9 trillion under management, had been planning to launch its own Bitcoin and Ethereum-based trading app.

The collapse of algorithmic stablecoin terraUSD in June and the subsequent collapse of crypto lender Celsius prompted Bitcoin prices to crash to a low of $33,263 in July 2022, a mammoth decline from its historical peak of $69,045 on November 10, 2021, but still well above current levels.

𝑻𝒐𝒏𝒄𝒐𝒊𝒏 (𝑻𝑶𝑵) 𝑪𝒐𝒏𝒕𝒊𝒏𝒖𝒆𝒔 𝑻𝒐 𝑴𝒂𝒓𝒌 𝑯𝒊𝒈𝒉𝒆𝒓 𝑮𝒂𝒊𝒏𝒔, 𝑩𝒊𝒈 𝑴𝒐𝒗𝒆 𝑪𝒐𝒎𝒊𝒏𝒈?

Toncoin has defied the entire crypto market sentiment as its value continues to trend higher. According to CoinMarketCap data, the native token of the TON blockchain has held a gain of more than 20% over the past seven days.
However, the token does not perform well in terms of transaction volume. In the past 24 hours, activities have slowed by more than 50%. While this is not alarming, it does indicate that traders may be slowing down in Telegram username auctions.

💥 𝑅𝑒𝑎𝑑 𝑡ℎ𝑒 𝑓𝑢𝑙𝑙 𝑎𝑟𝑡𝑖𝑐𝑙𝑒 ℎ𝑒𝑟𝑒: https://newsbtc.com/toncoin-ton/toncoin-ton-continues-to-mark-higher-gains-big-move-coming/

𝑾𝒂𝒔 𝑷𝒓𝒆𝒔𝒊𝒅𝒆𝒏𝒕 𝑬𝑰 𝑺𝒂𝒍𝒗𝒂𝒅𝒐𝒓'𝒔 𝒅𝒆𝒄𝒊𝒔𝒊𝒐𝒏 𝒕𝒐 𝒃𝒖𝒚 𝒐𝒏𝒆 𝑩𝒊𝒕𝒄𝒐𝒊𝒏 𝒂 𝒅𝒂𝒚 𝒂 𝒈𝒐𝒐𝒅 𝒊𝒅𝒆𝒂.?

Without a doubt, one of the biggest Bitcoin (BTC) lovers is Nayib Bukele, the president of El Salvador. This politician was approved in 2021 to turn the main cryptocurrency into the local currency along with the US dollar.
In this sense, with the crypto market becoming increasingly tense and many companies affected by the FTX crash, Bitcoin is likely to fall even more, and Bukele's decision to continue buying cryptocurrency could cause more negativity from people towards BTC.
💥 𝐑𝐞𝐚𝐝 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐡𝐞𝐫𝐞: https://u.today/is-el-salvadors-presidents-decision-to-buy-one-bitcoin-per-day-a-good-idea

US Senator Urges Congress to Pass Her Crypto Bill — Claims It Would've Prevented FTX Bankruptcy

U.S. Senator Cynthia Lummis believes that the FTX bankruptcy wouldn’t have happened under the Lummis-Gillibrand crypto bill. She stressed: “It’s clearer now than ever before that we need comprehensive regulation in the digital asset space.”

The senator from Wyoming has been a supporter of bitcoin for quite some time. She personally owns BTC and believes that bitcoin is something that the Federal Reserve should hold on its balance sheet. She has said repeatedly that the cryptocurrency is an excellent store of value.

LFG Audit by JS Held Claims Group Defended UST Peg With $2.8 Billion in Crypto Assets

On Nov. 16, 2022, months after the mid-May Terra stablecoin depegging event, the Luna Foundation Guard (LFG) published a blog post concerning an audited transparency report that claims the organization spent $2.8 billion in crypto assets defending UST. The once stable coin UST is now called terrausd classic (USTC), and it’s currently trading for $0.02 per unit on Nov. 16, 2022.

Terraform Labs co-founder Do Kwon also tweeted about the audit on Wednesday. “A third-party audit of LFG and TFL’s peg defense activity during May 2022 has been published,” Kwon tweeted.

Gold Bug Peter Schiff Insists This Is 'Not a Crypto Winter,' Economist Says It's More Like ‘Crypto Extinction’
Since bitcoin started falling from its all-time high last year, the economist and gold bug, Peter Schiff, made sure everyone knows that he wholeheartedly believes the leading crypto asset will fall to zero. Now that FTX has collapsed, Schiff has doubled down on his belief and he’s wasted no opportunities to dunk on bitcoin throughout the chaos. On Monday, Schiff said on Twitter that currently, it’s “not a crypto winter” nor a “crypto ice age,” because that implies a spring thaw is coming. Schiff insists bitcoin’s price is not going to bounce back and this time around he thinks we’ll see a “crypto extinction.”
Read more: https://news.bitcoin.com/gold-bug-peter-schiff-insists-this-is-not-a-crypto-winter-economist-says-its-more-like-crypto-extinction/

US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Gold Coins
According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after “direction from U.S. federal law enforcement.”
Read more: https://news.bitcoin.com/us-law-enforcement-directs-paxos-to-freeze-more-than-11000-paxg-tokenized-gold-coins/

𝐁𝐚𝐧𝐤 𝐨𝐟 𝐑𝐮𝐬𝐬𝐢𝐚 𝐒𝐞𝐭𝐬 𝐎𝐮𝐭 𝐭𝐨 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐞 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐀𝐬𝐬𝐞𝐭 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧, 𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞, 𝐒𝐭𝐢𝐥𝐥 𝐎𝐩𝐩𝐨𝐬𝐞𝐝 𝐭𝐨 𝐂𝐫𝐲𝐩𝐭𝐨

The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will be submitted to parliament by the end of the year.

𝐑𝐮𝐬𝐬𝐢𝐚’𝐬 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐁𝐚𝐧𝐤 𝐓𝐚𝐤𝐞𝐬 𝐋𝐞𝐠𝐢𝐬𝐥𝐚𝐭𝐢𝐯𝐞 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞 𝐢𝐧 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐀𝐬𝐬𝐞𝐭𝐬 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧
The Central Bank of the Russian Federation (CBR) intends to file a legislative package concerning the regulation of digital financial assets (DFAs) with the State Duma, the lower house of parliament. Under current Russian law, the term DFA refers to coins and tokens with an issuing entity as opposed to cryptocurrencies like bitcoin.

Speaking during Finopolis, a forum devoted to financial innovations, the bank’s Deputy Chairman Olga Skorobogatova explained that the proposals pursue three main objectives — improving taxation and eliminating tax arbitrage, developing exchange platforms and regulating smart contracts.
𝐁𝐚𝐧𝐤 𝐨𝐟 𝐑𝐮𝐬𝐬𝐢𝐚 𝐌𝐚𝐢𝐧𝐭𝐚𝐢𝐧𝐬 𝐎𝐩𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐭𝐨 𝐋𝐞𝐠𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐒𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐂𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲
Discussions on the status of cryptocurrencies and the regulation of the crypto market in Russia have been going on for over a year. The CBR has traditionally maintained a hardline stance, proposing a blanket ban on related activities such as mining and trading in January.

However, sanctions over the war in Ukraine, including restrictions affecting international payments, have softened its position. In September, the monetary authority agreed with the finance ministry that in the current conditions it would be impossible for Russia to do without cross-border settlements in cryptocurrency.
Read more: https://news.bitcoin.com/bank-of-russia-sets-out-to-regulate-digital-asset-taxation-exchange-still-opposed-to-crypto/

𝐅𝐓𝐗'𝐬 𝐅𝐚𝐥𝐥 𝐖𝐢𝐥𝐥 𝐋𝐢𝐟𝐭 𝐭𝐡𝐞 𝐍𝐞𝐱𝐭 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐌𝐚𝐱𝐢𝐦𝐚𝐥𝐢𝐬𝐭𝐬
FTX's Fall Will Lift the Next Generation of Bitcoin Maximalists
The collapse of FTX has caused yet another destructive wave to wash over crypto – the world of altcoins, crypto exchanges and overleveraged entities.
It’s impossible to say at this point how much collateral damage the loss of what was once the third-largest crypto exchange – whose founder had a foot in the door in Washington, D.C., his face plastered on sports stadiums and subway stations as well as his fingers in untold financial pies – will bring.
BlockFi, which was rescued by FTX just months ago, has paused withdrawals, Genesis, a CoinDesk sister company, needs another lifeline and rumors are circulating that many Solana-based projects are facing insolvency. (Bankman-Fried was a notable supporter of SOL.)
𝐖𝐢𝐥𝐥 𝐒𝐳𝐚𝐦𝐨𝐬𝐬𝐳𝐞𝐠𝐢 𝐢𝐬 𝐟𝐨𝐮𝐧𝐝𝐞𝐫 𝐚𝐧𝐝 𝐂𝐄𝐎 𝐨𝐟 𝐒𝐚𝐳𝐦𝐢𝐧𝐢𝐧𝐠.
The lesson to sufferers and outside witnesses alike is the same, and it is simple: Self-custody your bitcoin. Do not fall to the temptation of staking rewards, harebrained tokenomics schemes or the simplicity of using an exchange.
Bitcoin maximalists are called “toxic” for being so hardlined about this issue, but they've been proven right time and time again. A new generation of ardent bitcoin maximalists will be born from FTX's implosion.
𝐓𝐨𝐱𝐢𝐜’ 𝐦𝐚𝐱𝐢𝐦𝐚𝐥𝐢𝐬𝐦 𝐰𝐢𝐧𝐬 𝐭𝐡𝐞 𝐝𝐚𝐲
During the summer of 2022, controversy struck the Bitcoin community regarding toxic maximalism: Partner at Castle Island Ventures (and CoinDesk columnist) Nic Carter (then a vocal bitcoin supporter) had participated in an investment in a Web3 wallet company, and was called out for building beyond bitcoin.
In response to his critics, Carter wrote a lengthy Medium article in which he distanced himself from the bitcoin maximalist community: “I am not a “bitcoin maximalist, I have never been one, I will never be one.” Entering and exiting the bitcoin community is voluntary, but on his way out Carter showed maybe he never understood bitcoin’s “toxicity.”
Bitcoiners certainly take up a few unapologetic, uncompromising stances. Tomer Strolight, editor in chief at Swan Bitcoin, has argued that bitcoin maximalists’ perceived toxicity is really just principled opposition. When maximalists criticize centralized crypto exchanges, curse the altcoin ecosystem or call creators of new tokens scam artists, they are actually working to uphold the integrity of the Bitcoin network.
👉 Read more: https://www.coindesk.com/layer2/2022/11/11/ftxs-fall-will-lift-the-next-generation-of-bitcoin-maximalists/

𝐌𝐚𝐫𝐤𝐞𝐭 𝐖𝐫𝐚𝐩: 𝐂𝐫𝐲𝐩𝐭𝐨𝐬 𝐑𝐞𝐜𝐨𝐯𝐞𝐫 𝐒𝐥𝐢𝐠𝐡𝐭𝐥𝐲 𝐅𝐫𝐨𝐦 𝐅𝐓𝐗 𝐅𝐚𝐭𝐢𝐠𝐮𝐞 𝐖𝐢𝐭𝐡 𝐚 𝐃𝐨𝐬𝐞 𝐨𝐟 𝐄𝐧𝐜𝐨𝐮𝐫𝐚𝐠𝐢𝐧𝐠 𝐈𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐃𝐚𝐭𝐚
𝑩𝒊𝒕𝒄𝒐𝒊𝒏, 𝒆𝒕𝒉𝒆𝒓 𝒂𝒏𝒅 𝒐𝒕𝒉𝒆𝒓 𝒎𝒂𝒋𝒐𝒓 𝒂𝒍𝒕𝒄𝒐𝒊𝒏𝒔 𝒓𝒆𝒈𝒂𝒊𝒏𝒆𝒅 𝒍𝒐𝒔𝒕 𝒈𝒓𝒐𝒖𝒏𝒅 𝒂𝒎𝒊𝒅 𝒇𝒂𝒍𝒍𝒐𝒖𝒕 𝒇𝒓𝒐𝒎 𝒕𝒉𝒆 𝒄𝒓𝒚𝒑𝒕𝒐 𝒆𝒙𝒄𝒉𝒂𝒏𝒈𝒆’𝒔 𝒖𝒏𝒓𝒂𝒗𝒆𝒍𝒊𝒏𝒈 𝒂𝒇𝒕𝒆𝒓 𝒂𝒏 𝒖𝒏𝒆𝒙𝒑𝒆𝒄𝒕𝒆𝒅 𝒅𝒆𝒄𝒍𝒊𝒏𝒆 𝒊𝒏 𝒕𝒉𝒆 𝒄𝒐𝒏𝒔𝒖𝒎𝒆𝒓 𝒑𝒓𝒊𝒄𝒆 𝒊𝒏𝒅𝒆𝒙.
On Day Four of crypto exchange FTX’s near-death experience, crypto markets sighed and did what they often have done historically: rally.
On Thursday they had cause for optimism when an unexpectedly positive Consumer Price Index report indicated the U.S. Federal Reserve’s recent diet of hawkish, 75 basis point interest rate hikes were working towards reducing a year-long bout of high inflation.
This article originally appeared in Market Wrap, CoinDesk’s daily newsletter diving into what happened in today's crypto markets. Subscribe to get it in your inbox every day.
Bitcoin was recently trading near $18,000, a more than 13% increase over the past 24 hours that made its Wednesday plunge below $16,000 – to a level not seen since late 2020 – seem antiquated.
Ether was recently changing hands over $1,300, up almost 17% from Wednesday, same time. All other cryptos in the top 20 by market capitalization were feeling more like themselves again, rising well into the double digits as FTX and inflation fatigue waned – at least temporarily. Even FTX’s beleaguered FTT token, whose accumulation by the exchange’s sister company Alameda Research ignited the current mess, was up over 50% to $3.40. Solana’s SOL, which also figured prominently on Alameda’s balance sheet, raising investor alarm, jumped more than 40%.
The CoinDesk Market Index, a broad-based index designed to measure the market capitalization weighted performance of the digital asset market, rose 12%.
Stocks soared, staging their biggest rally in two years as investors celebrated the heartening CPI inflation data. The tech-heavy Nasdaq rose 7.3%, while the S&P 500 and Dow Jones Industrial Average (DJIA) increased 5.5% and 3.7%, respectively.
In an email to CoinDesk, 3iQ Head of Research Mark Connors noted optimistically that the “one persistent development” distinguishing “the crypto winter from all others is the emergence of ETH dominance as measured by the ETH/BTC ratio.”
👉Read More: https://www.coindesk.com/markets/2022/11/10/market-wrap-cryptos-recover-slightly-from-ftx-fatigue-with-a-dose-of-encouraging-inflation-data/

𝐁𝐢𝐧𝐚𝐧𝐜𝐞 𝐖𝐚𝐥𝐤𝐬 𝐀𝐰𝐚𝐲 𝐅𝐫𝐨𝐦 𝐃𝐞𝐚𝐥 𝐭𝐨 𝐀𝐜𝐪𝐮𝐢𝐫𝐞 𝐅𝐓𝐗
𝑨 𝒔𝒑𝒐𝒌𝒆𝒔𝒑𝒆𝒓𝒔𝒐𝒏 𝒇𝒐𝒓 𝒕𝒉𝒆 𝒄𝒓𝒚𝒑𝒕𝒐 𝒆𝒙𝒄𝒉𝒂𝒏𝒈𝒆 𝒔𝒂𝒊𝒅 𝑭𝑻𝑿'𝒔 𝒊𝒔𝒔𝒖𝒆𝒔 "𝒂𝒓𝒆 𝒃𝒆𝒚𝒐𝒏𝒅 𝒐𝒖𝒓 𝒄𝒐𝒏𝒕𝒓𝒐𝒍 𝒐𝒓 𝒂𝒃𝒊𝒍𝒊𝒕𝒚 𝒕𝒐 𝒉𝒆𝒍𝒑."
Binance has scrapped its letter of intent to buy rival crypto exchange FTX, according to a Binance spokesperson.
"As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged U.S. agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com," the spokesperson told CoinDesk.
"In the beginning, our hope was to be able to support FTX’s customers to provide liquidity, but the issues are beyond our control or ability to help. Every time a major player in an industry fails, retail consumers will suffer. We have seen over the last several years that the crypto ecosystem is becoming more resilient and we believe in time that outliers that misuse user funds will be weeded out by the free market.
"As regulatory frameworks are developed and as the industry continues to evolve toward greater decentralization, the ecosystem will grow stronger," the spokesperson added.
Binance's withdrawal of its offer capped a whirlwind day-and-a-half in which the world's largest crypto exchange by volume agreed to bail out its troubled rival in the face of a liquidity crunch that was caused, in part, by Binance saying it would sell off all its holdings of FTX's exchange token FTT. CoinDesk had reported earlier that FTX's sister company, trading firm Alameda Research, had much of its balance sheet assets in FTT.
FTT, which had already plunged in recent days, was down another 32% to about $2.41 after the news of Binance pulling out of its deal to buy FTX came out.

𝐋𝐚𝐫𝐠𝐞𝐬𝐭 𝐉𝐚𝐩𝐚𝐧𝐞𝐬𝐞 𝐁𝐚𝐧𝐤 𝐌𝐔𝐅𝐆 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐭𝐨 𝐎𝐟𝐟𝐞𝐫 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐢𝐧 𝐌𝐞𝐭𝐚𝐯𝐞𝐫𝐬𝐞 𝐛𝐲 𝟐𝟎𝟐𝟑

MUFG, the biggest bank in Japan, is projecting to offer financial services through the metaverse in 2023. The financial giant has partnered with ANA Holdings, a holdings consortium focused on air transportation companies, to be part of ANA’s Granwhale metaverse, and explore the possibility of selling financial products on this platform next year.
--> 𝑀𝑈𝐹𝐺 𝑃𝑟𝑒𝑝𝑎𝑟𝑒𝑠 𝑡𝑜 𝐸𝑛𝑡𝑒𝑟 𝑡ℎ𝑒 𝑀𝑒𝑡𝑎𝑣𝑒𝑟𝑠𝑒
--> 𝑀𝑒𝑡𝑎𝑣𝑒𝑟𝑠𝑒 𝑎𝑠 𝑉𝑒ℎ𝑖𝑐𝑙𝑒 𝑓𝑜𝑟 𝐸𝑛𝑡𝑖𝑐𝑖𝑛𝑔 𝑁𝑒𝑤 𝐺𝑒𝑛𝑒𝑟𝑎𝑡𝑖𝑜𝑛𝑠

👉 Read more: https://news.bitcoin.com/largest-japanese-bank-mufg-projects-to-offer-financial-services-in-metaverse-by-2023/

𝐁𝐢𝐭𝐜𝐨𝐢𝐧'𝐬 𝐌𝐢𝐧𝐢𝐧𝐠 𝐃𝐢𝐟𝐟𝐢𝐜𝐮𝐥𝐭𝐲 𝐒𝐡𝐫𝐢𝐧𝐤𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐅𝐢𝐫𝐬𝐭 𝐓𝐢𝐦𝐞 𝐢𝐧 𝟒 𝐖𝐞𝐞𝐤𝐬

Bitcoin miners caught a small break late Sunday evening (ET) after the network’s mining difficulty dropped 0.20% lower than the difficulty rating two weeks prior. The drop is the first mining difficulty decrease in four weeks, as the metric changed from 36.84 trillion to 36.76 trillion.

--> 𝐵𝑖𝑡𝑐𝑜𝑖𝑛 𝑀𝑖𝑛𝑒𝑟𝑠 𝐶𝑎𝑡𝑐ℎ 𝑎 𝑀𝑖𝑛𝑖𝑠𝑐𝑢𝑙𝑒 𝐵𝑟𝑒𝑎𝑘 𝑎𝑠 𝑡ℎ𝑒 𝑁𝑒𝑡𝑤𝑜𝑟𝑘’𝑠 𝐷𝑖𝑓𝑓𝑖𝑐𝑢𝑙𝑡𝑦 𝑆ℎ𝑟𝑖𝑛𝑘𝑠 𝑏𝑦 0.20%

--> 𝐵𝑖𝑡𝑚𝑎𝑖𝑛’𝑠 𝑆19 𝑋𝑃 𝐻𝑦𝑑𝑟𝑜 𝐵𝑖𝑡𝑐𝑜𝑖𝑛 𝑀𝑖𝑛𝑖𝑛𝑔 𝑅𝑖𝑔 𝑊𝑖𝑡ℎ 255 𝑇𝑒𝑟𝑎ℎ𝑎𝑠ℎ 𝐵𝑒𝑐𝑜𝑚𝑒𝑠 𝑡ℎ𝑒 𝑀𝑜𝑠𝑡 𝑃𝑟𝑜𝑓𝑖𝑡𝑎𝑏𝑙𝑒 𝑀𝑖𝑛𝑖𝑛𝑔 𝐷𝑒𝑣𝑖𝑐𝑒

👉 Read more: https://news.bitcoin.com/bitcoins-mining-difficulty-shrinks-for-the-first-time-in-4-weeks/

𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐨𝐮𝐭𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐬 𝐍𝐀𝐒𝐃𝐀𝐐 𝐚𝐟𝐭𝐞𝐫 𝐅𝐞𝐝 𝐫𝐚𝐢𝐬𝐞𝐬 𝐫𝐚𝐭𝐞𝐬 𝐛𝐲 𝟎.𝟕𝟓%

In recent price action, Bitcoin has performed similarly to Gold and even outperformed “safer” assets like NASDAQ.

The prices of NASDAQ and Gold fell sharply after the Fed's latest 0.75% rate hike.
According to market data, the NASDAQ is down 4.97%, while Gold is down 0.68%, both hitting year lows in the past 40 hours.

Meanwhile, BTC is up 0.55% in the same period. BTC closely resembles stable assets like Gold and even outperforms “safer” assets like NASDAQ.

The Fed has taken a hawkish approach so far, aggressively fighting inflation and trying to get it back to 2%.

As expected, the US Dollar Index (DXY) rallied after the Fed rallied 75 basis points.

In MicroStrategy's third-quarter earnings report, Saylor said Bitcoin is winning and his company has benefited positively from it.

Saylor described how BTC is up 72% since August 2020; During that time period, NASDAQ is up just 15%, while Gold is down 19%, reflecting the impressive growth BTC has enjoyed over the years, despite suffering a recent drop due to the market. trending bear.

𝐁𝐚𝐤𝐤𝐭 𝐀𝐜𝐪𝐮𝐢𝐫𝐞𝐬 𝐓𝐮𝐫𝐧𝐤𝐞𝐲 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐀𝐩𝐞𝐱 𝐂𝐫𝐲𝐩𝐭𝐨 𝐭𝐨 𝐁𝐨𝐥𝐬𝐭𝐞𝐫 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐀𝐬𝐬𝐞𝐭 𝐅𝐨𝐨𝐭𝐩𝐫𝐢𝐧𝐭
Digital asset manager Bakkt Holdings, Inc., announced on Thursday that the company has acquired the firm Apex Crypto from Apex Fintech Solutions. Bakkt detailed that the acquisition of the turnkey crypto platform aims to “bolster Bakkt’s cryptocurrency product offering and expand its footprint into additional client verticals.”
👉 Read more: https://news.bitcoin.com/bakkt-acquires-turnkey-platform-apex-crypto-to-bolster-digital-asset-footprint/

𝐖𝐡𝐲 𝐢𝐬 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐩𝐫𝐢𝐜𝐞 𝐮𝐩 𝐭𝐨𝐝𝐚𝐲?
Bitcoin price saw a brief rally today, and a market-wide rally in crypto prices suggests that Bitcoin (BTC) , Dogecoin (DOGE) and Ether (ETH) could be aiming to start the month of November in the black.
The Federal Reserve’s Nov. 2 announcement of a 0.75 basis point interest rate hike at first had a positive impact on equities and cryptocurrency markets, which posted marginal gains prior to Fed Chairman Jerome Powell issuing comments about the rate hike and future of Fed policy.

𝐓𝐫𝐚𝐝𝐞 𝐁𝐞𝐥𝐨𝐰 $𝟏 𝐏𝐚𝐫𝐢𝐭𝐲 𝐚𝐬 𝐓𝐨𝐤𝐞𝐧 𝐓𝐚𝐩𝐬 𝐚𝐧 𝐀𝐥𝐥-𝐓𝐢𝐦𝐞 𝐋𝐨𝐰 𝐚𝐭 $𝟎.𝟕𝟐
After Huobi Global announced that it would be delisting the stablecoin HUSD and auto-converting customer balances 1:1 with tether tokens, the stablecoin asset has dropped significantly in value sliding to a low of $0.72 per unit.
Another stablecoin is struggling to maintain parity with the U.S. dollar as HUSD has slipped from the $1 peg to $0.746 per unit on Oct. 30, 2022. At the time of writing, the stablecoin token is exchanging hands for $0.765 per unit and there’s only $59,790 in global trade volume during the past 24 hours.

𝐁𝐢𝐭𝐜𝐨𝐢𝐧, 𝐄𝐭𝐡𝐞𝐫𝐞𝐮𝐦 : 𝐄𝐓𝐇 𝐅𝐚𝐥𝐥𝐬 𝐁𝐞𝐥𝐨𝐰 $𝟏,𝟓𝟎𝟎 — 𝐌𝐚𝐫𝐤𝐞𝐭 𝐌𝐨𝐦𝐞𝐧𝐭𝐮𝐦 𝐑𝐞𝐦𝐚𝐢𝐧𝐬 𝐁𝐮𝐥𝐥𝐢𝐬𝐡
Ethereum dropped below $1,500 on Friday
Following a peak of $21,022 on Wednesday, BTC/USD dropped in back-to-back sessions, with today’s decline sending the price to a low of $20,086.07.
Today’s slip in bitcoin comes as USD continued to gain strength, following yesterday’s better-than-expected Q3 GDP figures, which came in at 2.6%.
In addition to BTC, ethereum (ETH) also slipped in today’s session, moving below the $1,500 level in the process.
ETH/USD plunged to an intraday low of $1,493.87, which comes less than 24 hours after trading at a high of $1,572.24.
Since breaking out of a key price level of $1,590 earlier on in the week, momentum has somewhat shifted in ETH, as bears slowly begin to reenter the market.
However, unlike with BTC, the momentum of the moving averages in ethereum continues to remain higher.
This could be a sign of a potential rebound in price this weekend, when traditional stock and currency markets will be closed, with the sole focus for traders being crypto.

Biggest Movers: DOGE up by Over 17% as Elon Musk Comments on Twitter Takeover
Dogecoin rose by as much as 17% on Thursday, as Tesla CEO Elon Musk moved closer to completing a takeover of Twitter. Musk has been a public supporter of the meme coin in recent years, with some suggesting that it could be added as a payment method on the social media platform. Cosmos also traded higher, climbing by 8% today.
Dogecoin (DOGE) was once again in the green on Thursday, as the token rose by as much as 17% in today’s session.
The surge in price comes as long-term supporter of the meme coin Elon Musk moved closer to completing his takeover of Twitter.
In a statement released earlier today, Musk stated that “The reason I acquired Twitter is because it is important for the future of civilization.”

On October 26, the bitcoin mining operator Aspen Creek Digital Corporation (ACDC) announced that the company has commenced operations at its solar farm-powered high performance computing center (HPCC) in Texas. ACDC further detailed that the company inked a deal with the firm Compass Mining in order to host 27 megawatts (MW) of capacity, which will be deployed in the fourth quarter of this year.
“Compass Mining continues to seek out high-quality hosting providers such as ACDC that benefit our mining clients’ uptime and reliability. ACDC’s pairing of low-cost, renewable energy with mining operational excellence is difficult to find in today’s current market. We’re pleased to work with their team,” Heller said during the announcement on Wednesday.

'𝗦𝗹𝗲𝗲𝗽𝗶𝗻𝗴 𝗕𝗶𝘁𝗰𝗼𝗶𝗻' 𝗦𝗽𝗲𝗻𝗱𝘀 𝗦𝗹𝗼𝘄 𝗗𝗼𝘄𝗻 𝗖𝗼𝗻𝘀𝗶𝗱𝗲𝗿𝗮𝗯𝗹𝘆 𝗶𝗻 𝟮𝟬𝟮𝟮, 𝗮𝘀 𝟵𝟮 𝗗𝗲𝗰𝗮𝗱𝗲-𝗢𝗹𝗱 𝗕𝗧𝗖 𝗪𝗼𝗿𝘁𝗵 $𝟭.𝟳𝟵 𝗠𝗶𝗹𝗹𝗶𝗼𝗻 𝗪𝗮𝗸𝗲 𝗨𝗽
While the price of bitcoin has remained range bound and coasting along just above the $19K zone, over 60% of the bitcoin in circulation has not moved in a year or more. Moreover, there’s been very few transfers from bitcoins stemming from 2010, and it’s been more than two months since the last 2010 block subsidy transfer. Meanwhile, 2011 block subsidy transactions have appeared every now and then, and on October 25, 2022, approximately 92.76 bitcoin worth roughly $1.79 million from 2011 were transferred to unknown wallets.
👉Read more: https://news.bitcoin.com/sleeping-bitcoin-spends-slow-down-considerably-in-2022-as-92-decade-old-btc-worth-1-79-million-wake-up/

💥𝐁𝐢𝐠𝐠𝐞𝐬𝐭 𝐌𝐨𝐯𝐞𝐫𝐬: 𝐀𝐃𝐀 𝐍𝐞𝐚𝐫𝐬 𝟏-𝐖𝐞𝐞𝐤 𝐏𝐞𝐚𝐤, 𝐚𝐬 𝐌𝐀𝐓𝐈𝐂 𝐌𝐨𝐯𝐞𝐬 𝐭𝐨 𝐇𝐢𝐠𝐡𝐞𝐬𝐭 𝐏𝐨𝐢𝐧𝐭 𝐒𝐢𝐧𝐜𝐞 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫
Cardano closed in on a one-week high to start the week, as the token climbed for a fourth straight session. Polygon was also in the green, and collided with a key resistance level in the process. Overall, the global crypto market cap is currently 1.30% higher as of writing this analysis.

👉Read more: https://news.bitcoin.com/biggest-movers-ada-nears-1-week-peak-as-matic-moves-to-highest-point-since-september/

𝐁𝐢𝐭𝐜𝐨𝐢𝐧𝐬𝐯 𝐖𝐚𝐬 𝐀𝐭𝐭𝐚𝐜𝐤𝐞𝐝 𝐋𝐚𝐬𝐭 𝐘𝐞𝐚𝐫 𝐚𝐧𝐝 𝐒𝐮𝐟𝐟𝐞𝐫𝐞𝐝 𝐚 𝟏𝟎𝟎-𝐁𝐥𝐨𝐜𝐤 𝐑𝐞𝐨𝐫𝐠𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧

In mid-July 2021, crypto exchanges halted BSV deposits after 78% of the BSV hashrate was captured that month. During the first week of August 2021, the network was brought to its knees when a miner 51% attacked the Bitcoinsv chain. On Tuesday, August 3, 2021, the BSV network endured a 100 block reorg “wiping out 570K transactions,” according to the founder of Blockchair, Nikita Zhavoronkov.

On October 17, 2022, when the unknown miner captured around 80% of the network, the organization behind the BSV project called the Bitcoin Association, said that it planned to take action against the stealth miner.

“Bitcoin Association is taking action to contact all relevant exchanges and miners to freeze all block rewards associated with this malicious miner and will be pursuing criminal charges against the entity/entities responsible,” the Bitcoin Association wrote.

The Bitcoin Association’s (BA) message further notes that it has been tracking the miner for months, and the increased presence has caused “network problems for honest miners and businesses that interact” with the Bitcoinsv network.

In the same blog post update, BA insists that “producing an empty block is not inherently a dishonest act per the rules set forth in the whitepaper.” The same day, BA also tweeted out an article hosted on bitcoinsv.com that claims “mining empty blocks hurts the Bitcoin network.”

On October 23, the native crypto asset bitcoinsv (BSV) is down 3% in value against the U.S. dollar and 1.8% against bitcoin (BTC). Year-to-date, the token BSV has lost 72.7% against the greenback and BSV is 90.5% down from the all-time high recorded on April 16, 2021.
During the last 24 hours, BSV has seen $25.19 million in global trade volume and a great deal of trades stem from South Korea. The Korean won today represents 46.68% of BSV’s global trading pairs according to cryptocompare.com data. Tether (USDT) is BSV’s second-largest trading pair with 35.69% of all BSV trades, followed by usd coin (USDC) with 8.45% of BSV swaps.
👉 Read more: https://news.bitcoin.com/an-unknown-miner-commands-more.../