When you feel like giving up, remember why you started! (weekly crypto updates)
What happened in the past week? Not much, except the fact that Bitcoin ETF is on the news, being them fake or real, and Binance stopped accepting new UK customers, stopping the dollar withdrawal in the US too. Problems? What else? Read below:
Bitcoin: Some Bitcoin ETF fake rumours, telling us that one of them was approved for Blackrock, quickly killed some shorts all the way up to 30K, hovering around 29K even a few days after. Fidelity submitted its amended BTC ETF application, adding fuel to the fire. Some (Morgan Stanley mostly) signalled an end to the crypto winter after BTC bounced back to 70%+ from its lows. The Galaxy CEO even predicted a Bitcoin ETF will be approved in 2023. Grayscale Bitcoin Trust outperforms BTC as the ETF hopes rise. Tesla Q3 earnings were published, and their BTC stash is still untouched. Talking about diamond hands. They are third on the top list, after Microstrategy and Marathon Digital.
Ethereum: Uniswap Labs introduced a 0.15% fee on some token swaps, including ETH.
Altcoins and stablecoins: Solana partnered with Dubai Multi Commodities Centre to provide Web3 support and grants. As the values went up, FTX eSTATE staked 5.5M SOL worth 122M, in order to get some extra profits. Customers funds, of course, what did you expect? Binance burned $450M BNB pushing prices up and reducing the supply as well. They also stopped accepting new UK users for now, but the existing ones can still use its services. In the US, Binance dropped the FDIC protection and halted the US dollar withdrawals. Should we worry? Fantom blockchain is not doing well after the Fantom Foundation wallet lost $550K after a hacker compromised it. The SEC dropped the charges against Ripple executives after a judge dismissed them already. Finland is prepping an instant, card-free solution for the country, using a digital Euro. The European Central Bank is laying the foundation for the possible issuance of the digital Euro. The new updated Leo front looks cool enough.
Blockchain games and NFT: Yuga Labs restructures amid the NFT slump. Is anyone out there still not playing Golem Overlord? They added some interesting features lately. By the way, did everyone get their free Fox NFT from Shapeshift? Wombat Dungeon Masters' season has just started, and now the potions have Wombat requirements added too. On Splinterlands, the Land 1.5 feature will be online soon, as it is already on the test server, and then we will see some interesting moves on the game market, as the Rebellion pack presale started already (got my 500+50 bonus packs, wink! wink!, but no I got no DEC left. They got an interesting burn mechanism, starting from day 1 of the launch, and some interesting airdrop strategy, using the pack staking.
Good news: South Korean exchange Upbit received approval for its major payment institution license in Singapore. Coinbase chose Ireland as its European base. FTX offers up to 90% reimbursement to creditors in the new revised plan. Below $250K, you can agree to a preference settlement with a 15% fee. Coinbase launched perpetual futures trading for eligible non-US customers, as this market is 75% of the total crypto trading volume worldwide.
Bad news: SuperDAO is shutting down after they raised $11.5M this year, and they even gave the money back, instead of running with them. Reddit is sunsetting its token rewards program by November, quoting taxes and regulations. EU just introduced new rules forcing crypto firms to report user holdings to the tax authorities in order to stop concealed assets. Mental note: if you believe somebody asking for your BlockFi password as they are returning your funds by phone, you may deserve what is coming. The BlocvkFi scam phone calls are increasing lately, using some database that was hacked months ago. Do not fall for it!
Joke of the week: SBF needs Adderall in order to focus better on his criminal trial. At least he did not ask for cocaine, I am sure the judges were amused too.
All the best,
George
Why not...
...have fun and win rewards on my favourite blockchain games (Splinterlands - Hearthstone-like card game) (Mobox - GamiFI NFT platform) (Wombat Dungeon Masters NFT staking on WAX) and (X-Portal - Elrond all in one app, free NFTs, and more).
...get crypto while writing on the Publish0x blog, using the Presearch search engine to maximize your income with PRE tokens. Use Torum instead of Twitter. I am also writing for crypto on Read.cash and Hive.
