@merurial9 13 November 2023 more from that month

Crypto Markets Surge | Crypto Weekly Brew #015 In news making headlines this week, **Bitcoin** and **ETH** drive the surge in the crypto markets, we have passed the 1st anniversary since FTX halted their platform and Immutable plans to be the pioneer of web3 gaming. Read on to get more insight. https://leofinance.io/@leoglossary/leoglossary-bitcoin https://leofinance.io/@leoglossary/leoglossary-eth

**Bitcoin and Ether Surge Amid ETF Excitement** The buzz around **ETFs** with BlackRock’s announcement of a spot **ETH** **ETF** aligns with their release of **Ethereum** Futures **ETFs** as they seek approval for a **Bitcoin** **ETF** from the **SEC**. **Bitcoin** and **Ether** have experienced a bullish week in the market with significant gains driven by the excitement surrounding **ETF** developments. **Bitcoin** saw a rise of 6% reaching, around $37400. **Ether's** breakthrough above the $2100 level, which has not been seen since April contributed to its gain of 10%. https://leofinance.io/@leoglossary/leoglossary-exchange-traded-fund-etf https://leofinance.io/@leoglossary/leoglossary-eth https://leofinance.io/@leoglossary/leoglossary-bitcoin https://leofinance.io/@leoglossary/leoglossary-securities-and-exchange-commission-sec **Source 1**, **Source 2** https://cointelegraph.com/news/ethereum-price-hits-6-month-high-amid-black-rock-spot-etf-buzz-wheres-retail-demand https://bravenewcoin.com/insights/blackrock-files-for-ethereum-etf **Celsius' Bankruptcy Exit** Celsius has faced difficulties and filed for **bankruptcy** during the **cryptocurrency** market downturn last summer and has received approval for their restructuring plan and is now primed for **bankruptcy** exit. Fahrenheit LLC will take over the business with a focus on **Bitcoin** mining. The plan which was endorsed by creditors in September could potentially result in up to 85% of holdings being returned to customers. https://leofinance.io/@leoglossary/leoglossary-bankruptcy https://leofinance.io/@leoglossary/leoglossary-bitcoin **Source** https://www.reuters.com/markets/deals/crypto-lender-celsius-network-cleared-exit-bankruptcy-2023-11-09/ **HSBC's Custody Services** In another development, HSBC announced its plans to offer **custody** services for assets through a partnership with Medico—a **custody** firm recently acquired by **Ripple**. This move comes as asset managers and owners increasingly seek custody solutions for their crypto assets. This will become increasingly important especially as the past week was the 1st anniversary of FTX’s decision to halt withdrawals and the subsequent fraudulent activities that have become known. For crypto to generate mainstream adoption and appeal to all generations (especially boomers), having a safe way to store crypto safely will be key. This was echoed by Gary Gensler, **Chair of the Securities and Exchange Commission (SEC)** who provided insights, on FTX emphasizing the significance of adhering to requirements and ensuring transparent communication within the **cryptocurrency** industry. https://leofinance.io/@leoglossary/leoglossary-custodian https://leofinance.io/@leoglossary/leoglossary-xrp-cryptocurrency https://leofinance.io/@leoglossary/leoglossary-securities-and-exchange-commission-sec https://leofinance.io/@leoglossary/leoglossary-bitcoin **Source 1**, **Source 2** https://za.investing.com/news/hsbc-to-launch-digital-assets-custody-service-by-2024-93CH-2925282 https://www.cnbc.com/2023/11/08/secs-gensler-says-rebooted-ftx-is-possible-if-done-within-the-law.html **Immutable Vision for Web3 Gaming** Robbie Ferguson, one of the co-founders and the President of Immutable has outlined their vision for **web3** gaming. Immutable, a company with a valuation of $2.5 billion aims to bring about a change in the ownership of in-game items by utilizing **NFTs**. With over 150 games on their platform and close to $1 billion in investments, they are focused on creating a to-use experience for gamers. This will enable them to trade, sell and make use of in-game items. https://leofinance.io/@leoglossary/leoglossary-web-3-0 https://leofinance.io/@leoglossary/leoglossary-non-fungible-token-nft Ferguson has emphasized some challenges that **web3** gaming faces including difficulties with getting consumers onboarded onto platforms, content creation hurdles and scalability issues. Immutable has devised solutions such as the Immutable Passport which simplifies user onboarding processes. They have also formed a partnership with **Polygon** and Ubisoft to solidify their position as market leaders. Ferguson believes that having game releases is crucial for driving adoption rates. Looking ahead to 2024, Ferguson predicts an increase in the adoption of **web3** gaming driven by game releases enhanced user experiences and industry consolidation. Immutable aims to become an API platform for Stripe making it easier for developers to build without getting bogged down by smart contract development processes. https://leofinance.io/@leoglossary/leoglossary-web-3-0 https://leofinance.io/@crypto-guides/what-is-polygon-matic-crypto **Source** https://cointelegraph.com/news/ubisoft-to-build-web3-games-with-immutable

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