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Market Wrap: Bitcoin Trades Flat for a Second Consecutive Day, but Outpaces Traditional Markets

October 6, 2022 by

BTC remains range-bound as investors await the latest payrolls data on Friday. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets.

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Lido’s stETH Token Expands to Layer 2 Networks Optimism and Arbitrum

October 6, 2022 by

Lido’s liquid staking token is coming to Ethereum’s optimistic rollups.

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Atlantic Council Director Sees ‘Splintering’ Financial System if US Falls Behind on CBDCs

October 6, 2022 by

Josh Lipsky, senior director of the Atlantic Council, joined “First Mover,” to discuss what role the U.S. could play in the development of a CBDC and what could eventually happen to the U.S. dollar.

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Polygon partners with ocean conservation NGO to advance ocean literacy

October 6, 2022 by

Participants can explore the RV Odyssey — one of the most advanced ocean research vessels around the globe — via the Metaverse.

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South Korean judge dismisses warrant for individual involved in Terra collapse: Report

October 6, 2022 by

In his decision to dismiss the warrant, the judge reportedly considered that Yoo Mo had a residence and family ties in South Korea and was already barred from leaving the country.

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Decentralized Social Network’s DeSo Token Rallies Amid Stablecoin Plans

October 6, 2022 by

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Grayscale announces new arm to invest in Bitcoin mining hardware

October 6, 2022 by

Grayscale plans to buy mining equipment at discounted prices and offer co-investment opportunities to accredited investors.

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Bitcoin Mining Is About Get Tougher With Difficulty Primed for Another Sharp Rise

October 6, 2022 by

Miners with higher cost and large debt load will be weeded out by the crypto winter, according to industry experts.

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Canadian central bank identifies retail CBDC archetypes in theory-heavy analysis

October 6, 2022 by

An analyst at the Bank of Canada has written a paper that identifies recurring patterns in CBDC models and how those patterns impact a list of performance criteria.

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CFTC’s Regulation by Enforcement Needs to Change, Commissioner Says

October 6, 2022 by

Commodity Futures Trading Commissioner Summer K. Mersinger, joined CoinDesk TV’s “First Mover,” to discuss the implications of enforcement by regulation and why it could be setting a “dangerous” precedent.

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Stablecoins shed $38B since May as yields plunge, projects collapse

October 6, 2022 by

An estimated $148.7 billion worth of stablecoins are still in circulation.

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Crypto Exchange Crypto.com’s Downsizing Larger Than Previously Reported: Ad Age

October 6, 2022 by

In addition to job cuts of as much as 40% of staff, the company has also been pulling back from marketing deals, according to the story.

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Security and interoperability, the challenges ahead of Web3 mass adoption

October 6, 2022 by

Analysts forecast a market size of $81.5 billion for Web3 by 2030, but the growth comes with obstacles along the way.

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Ethereum open interest hits $7.7B, raising the chance of a short squeeze above $1.5K

October 6, 2022 by

The Ether futures premium remains negative, while options markets are pricing similar risks for bulls and bears.

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Citi Ventures Backs Its First Digital Asset Manager, Co-Leading a $6M Round in Xalts

October 6, 2022 by

Accel co-led the round for the startup building institutional-grade digital asset products.

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Autumn bulls vs. winter bears — Will October be bullish or bearish for Bitcoin? Watch Market Talks

October 6, 2022 by

October has historically been a green month for Bitcoin, but will this trend continue, keeping in mind the current macro market conditions? Join us as we discuss this and more with our host, Joe Hall, and Rekt Capital, a crypto trader and analyst.

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​​Federal Preemption of State Money-Transmitter Licensing Would Be Great Policy

October 6, 2022 by

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‘Violent’ Bitcoin breakout due as BTC open interest nears all-time high

October 6, 2022 by

Bitcoin futures open interest is almost higher than ever, but its composition is completely different from last year, analysis reveals.

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Norway’s government proposes eliminating reduced electricity tax for Bitcoin miners

October 6, 2022 by

“We are in a completely different situation in the power market now than when the reduced rate for data centers was introduced in 2016,” said Norway’s finance minister.

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Citigroup Director of Blockchain and Digital Assets to Depart for SIX Digital Exchange

October 6, 2022 by

Citigroup’s director of blockchain and digital assets is leaving the U.S. bank to take a role at SIX Digital Exchange, Bloomberg reported Thursday.

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Report: On-chain data points to crypto consolidation in Q3

October 6, 2022 by

The latest quarterly report from DappRadar highlights a period of consolidation across the cryptocurrency ecosystem following a turbulent Q2.

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Restaurant Industry Veteran Ben Leventhal Raises $11M for Web3 Startup Blackbird

October 6, 2022 by

Blackbird will offer a Web3 hospitality platform connecting restaurants with guests through membership and loyalty programs

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Crypto Bank Silvergate Capital Lower as Wells Fargo Turns From Bull to Bear

October 6, 2022 by

Wells Fargo skips the neutral rating, downgrading Silvergate to underweight from overweight.

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Bitcoin Miner Marathon Invested $31.3M in Bankrupt Data Center Compute North

October 6, 2022 by

The miner also has about $50 million in security deposits and prepayment to Compute North, for hosting Marathon’s bitcoin miners.

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EU regulators ban cross-border payments from Russian crypto accounts

October 6, 2022 by

In a statement on Thursday, regulators in the European Union banned all crypto-asset wallets, accounts and custody services from Russia.

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Web3 had a small, yet important, presence at Paris Fashion Week

October 6, 2022 by

A handful of designers showcased Web3 initiatives at Paris Fashion Week, demonstrating inclusion, sustainability and creativity.

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South Korea Arrests Terra’s Head of General Affairs Yu: Report

October 6, 2022 by

The arrest comes after the country invalidated Terra co-founder Do Kwon’s passport.

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UK Investment Giant Abrdn Joins Hedera Governing Council to Advance Tokenization Goals

October 6, 2022 by

U.K. asset management firm Abrdn (ABDN) has joined the Hedera Governing Council to continue its exploration of tokenizing traditional assets.

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Crypto Failures Fueled Better Due Diligence

October 6, 2022 by

As crypto markets turn turbulent, asset managers perform due diligence by looking at fundamentals like network usership to increase safety.

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First Mover Americas: Bitcoin Stays Close to $20K, Sushi’s Token Surges 14%

October 6, 2022 by

The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 6, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

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