Bitcoin mining rigs. Source: Adobe / amixstudio

Get your daily, bite-sized roundup of crypto asset and blockchain news – and examine the stories flying under the radar of today’s crypto news.

__________

Mining news

  • Bitcoin (BTC) transaction revenue from fees will at least double this quarter, Luxor Technologies said in its report today. The company has not stated whether it is USD or BTC. The 7-day average fee income was nearly $ 900,000 each on October 10th Blockchain.com Data. Luxor Technologies also estimates that the network’s bitcoin hashrate, or processing power, will close the fourth quarter near its all-time high, “somewhere in the ballpark at 185 EH / s,” and that we will continue to see gradual upward adjustments in difficulty. although none will be as drastic as the biggest positive adjustments we will.
  • Manufacturer of crypto mining hardware Bitmain has confirmed that they will stop shipping mining hardware to mainland China. The move does not affect Bitmain’s overseas customers, the company said, adding that they have increased the Antbox miners’ offerings to help expedite the construction of overseas mines.

Regulatory News

  • The U.S. government is considering a cryptocurrency executive order to create a government-wide approach to the asset class, Bloomberg reported. The proposed directive would require federal agencies to investigate and make recommendations on relevant areas of cryptography – those affecting financial regulation, economic innovation and national security.

Investment news

  • Digital asset investment products saw total inflows of $ 226 million, bringing the inflow to $ 638 million per month in 8 weeks CoinShares Data. Investments in BTC reached USD 255 million, compared to USD 69 million a week earlier, while Ethereum (ETH) recorded outflows totaling nearly USD 14 million, compared to USD 20 million inflows a week earlier. Ethereum competitor Solana (SOL) recorded inflows worth $ 12.5 million. “We believe the turnaround in sentiment toward Bitcoin is due to constructive statements from SEC chairman Gary Gensler that may enable a Bitcoin ETF in the US,” CoinShares said.

MTD – for months; YTD – since the beginning of the year; AUM – assets under management. Source: CoinShares

  • Elliptical, a specialist in crypto asset risk management, said it raised $ 60 million in Series C funding. The funding round was led by Evolution Equity Partner, in addition to new investments from SoftBank Vision Fund 2 and existing shareholders said the company. Elliptic plans to invest in its global network and expand the Elliptic team, particularly in the US, they added.
  • Crypto platform BlockFi has applied for an exchange-traded fund (ETF) for Bitcoin futures. The “BlockFi Bitcoin Strategy ETF” fund would only invest in futures contracts that are listed on the Chicago Mercantile Exchange (CME).
  • Michael Dell, the founder of the computer company Dell Technologies, told the New York Times that he will not invest in Bitcoin. On the other hand, he added that, in his opinion, blockchain is “likely to be underestimated”.
  • El Salvador’s President Nayib Bukele will use a portion of the country’s $ 4 million gain from his BTC investment to build a veterinary clinic.

NFTs news

  • Non-fungible Token (NFT) project Bored Ape Yacht Club plans to issue a token in the first quarter of 2022. They added that they want to “launch a legally compliant token and set it up responsibly and sustainably”.

Career news

  • Former British Chancellor of the Exchequer (2016-2019), Lord Hammond of Runnymede, has joined copper, the London-based provider of custody and trading infrastructure for digital assets, as Senior Adviser. Lord Hammond will strategically advise the Copper team and focus on promoting the UK as the world’s leading provider of digital asset technology, the announcement said.
  • Binance.US announced that Brian Shroder has been named Chief Executive Officer (CEO). Shroder was named President of Binance.US in September.

Adoption News

  • Sri Lanka is forming a committee to study digital banking, blockchain and related industries, including cryptocurrencies, based on the Cabinet of Laws, Rules and Regulations. The committee will examine the approaches of other countries including Singapore, Dubai, Malaysia, the EU, the Philippines etc. and propose an appropriate framework for Sri Lanka.
  • Binance Smart Chain (BSC) usage is 20% higher quarter-over-quarter in the third quarter and 18,228% year-over-year – with the number of unique active wallets (UAW) connected to the network exceeding 608,500 per day average said crypto exchange Binance.

Legal news

  • Jonathan and Diana Toebbe, a Navy nuclear engineer and his wife, were arrested in West Virginia after making multiple attempts to leak secrets about US nuclear submarines to a foreign country Ministry of Justice announced. Jonathan was caught undercover Federal Office for Investigations (FBI) agent with whom he had a correspondence that resulted in an agreement to sell restricted data in exchange for thousands of dollars in cryptocurrency.
    ____

(Updated at 16:58 UTC to clarify that Ethereum (ETH) had total investment outflows of nearly $ 14 million compared to $ 20 million Tributaries a week earlier.)

  • (Updated at 16:56 UTC to clarify that Ethereum (ETH) recorded outflows totaling nearly USD 14 million, compared to USD 20 million in inflows a week earlier)

LEAVE A REPLY

Please enter your comment!
Please enter your name here