Coming every Saturday, Huddler’s Digest Will help you keep track of every important news that happens this week. The best (and worst) quotes, take and control highlights, leading currencies, predictions and much more – one week at Cointelegraph in one link.
This week’s top news
BSc will launch a 1 billion fund to develop the ecosystem
The world’s largest cryptocurrency exchange, Beyonc, this week announced an accelerator fund worth এক 1 billion. The funds will contribute to the development of the Beyonc স্ম smart chain ecosystem.
Binance outlined that the 10-digit sum would be part of a tiered development model across four specialist fields: talent development, liquidity incentive programs, manufacturer programs and investment and incubation programs.
The biggest beneficiary of the fund is said to be the Investment and Incubation Program, which will receive about 500 500 million, according to Benson. The branch will focus on multichain expansion in areas such as metavers, gaming, virtual reality and artificial intelligence.
Coinbase follows FTX and Binance in launching the NFT Marketplace
Coinbase announced Tuesday that it is launching an NFT marketplace later this year. The platform will initially support tokens from the Ethereum blockchain and will be launched in the United States before expanding worldwide.
Based on the nearly 68 million verified users and 8.8 million monthly active users in Coinbase Q2, the firm’s new NFT platform could soon face some serious competition with giants like Opensia.
Evidence of this was seen after the announcement, as sign-ups for the waiting list reached about 1.1 million people in 48 hours. In contrast, data from DappRadar shows that OpenSea has a rolling 30-day average of 261,000 active users.
G7 leaders issued the central bank’s digital currency guidelines
The Group of Seven (G7) forum, comprising the seven largest developed economies in the world, this week discussed the full centralization of digital assets called central bank digital currencies (CBDCs). As a result of the meeting, 1 public policy policy on their implementation was approved.
The G7 stipulates that the newly launched CBDC “does not need to harm” the central bank’s ability to maintain financial stability, suggests tracking the spending habits of individuals at the expense of their sovereignty and that their money is on the programming table.
Some CBDC-based policies included that digital currencies must be energy-efficient and fully inter-operative, border-based, with complements to existing cash-based systems.
The cryptocurrency provider Celsius Network has raised ০০ 40,000 million
The cryptocurrency platform Celsius Network has raised 400 million in an equity funding round led by Kaise de Dupet at Placement du Quebec and Westcap. The company says it will use fresh capital to double the headcount of about a thousand employees and expand its offers and products.
“It’s not 400 40,000 million. The credentials come from those who wrote the checks, “said Alex Mashinski, co-founder of the Celsius Network, in an interview with the Financial Times on Tuesday.
Another company to close Capital Rise was the crypto risk management company Elliptic, which raised সি 60 million in Series C funding. The round was led by Evolution Equity Partners and included support from Softbank Vision Fund 2, AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital and SBI Group.
Top engineers working on Facebook’s wallet jump ship in A16z’s crypto fund
It was reported on Monday that two of the top engineers working on Facebook’s spooky digital currency project have packed their bags and taken a lease for venture firm Andreessen Horowitz (A16Z).
The engineers who escaped Mark Zuckerberg’s clutches were Nasim Edequique and Riaz Faizullah. The two have been working for two years on Facebook’s digital wallet dubbed Novi. Faizullah will serve as chief technology officer of the crypto division of a16z, and Eddequiouaq will act as chief information security officer.
“Andresen Horowitz has made an impressive contribution to advancing the entire crypto ecosystem over the past decade, and we’ve jumped at the chance to join their core team and provide technical support to their rapidly expanding portfolio,” Faizullavoy said.
Winners and losers
Over the weekend, Bitcoin (BTC) Is there $ 60,687, Ether (ETH) A $ 3,817 And XRP A. $ 1.13. The total market cap is $ 2.44 Trillion, According to At CoinMarketCap.
Among the top 100 cryptocurrencies, the top three Altcoin winning stacks of the week (STX) 38.94%, perpetual protocol (Parp) 30.55% and telcoin (Tell) At 24.63%.
The top three Altcoin losers of the week are Arweave (With) -21.68%, terra (Luna) -17.50% and at Phantom (FTM) At -15.41%.
For more information on crypto pricing, be sure to read Cointelegraph’s market analysis.
The most memorable quote
“Bitcoin is much less risky at 43 43,000 than $ 300. It’s now established, huge amounts of venture-capital money have entered it, and all the big banks are getting involved.”
Bill Miller, Founder of Miller Value Partners
“I think the big difference between Ethereum and Bitcoin is that Bitcoin is a platform where the value of the ecosystem comes from the value of the currency but, in Etherium, the value of the currency comes from the value of the ecosystem.”
Vitalic butarin, Co-founder of Etherium
“I can say ‘I have a gold ETF or Bitcoin ETF,’ but I’m storing that gold in my basement. Will the SEC allow it? Probably not. Can solve many problems, it will not work.
Tad Park, Founder and CEO of Vault Equity
“I’m not a student of Bitcoin and where it’s going, so I can’t tell you if it will be $ 80,000 or zero. But I believe there is a huge role for a digitized currency, and I believe it will help consumers around the world – it A bitcoin or something, or an official digital currency, a digital dollar, that will work. ”
Larry Fink, Chairman of BlackRock
“We haven’t even reached the parabolic growth part of Web 3, which is going to create a myriad of resources.”
Mark Usco, CEO of Morgan Creek Capital
“The reason I own Bitcoin is because the US government and every government in the Western Hemisphere are now printing money by the end of time.”
Barry Sternlich, Co-founder of Starwood Capital Group
“Overall, we have had a long period of low inflation, and we have tested the central banks in unfamiliar areas with very, very loose monetary policy. It is perfectly reasonable for people to want an alternative to the Fiat currency. ”
Bill Winters, CEO of Standard Chartered
“We’re in a constant bubble in crypto because there’s still a lot to create.”
Franklin Dwi, Director of Portfolio Development at Pantera Capital
Forecast of the week
SEC to allow Bitcoin Future ETFs to trade next week: report
Regulatory approvals of the physically supported Bitcoin Exchange-Traded Fund (ETF) have left the crypto industry out of the year. A roundabout way to equate may be a reality, however, as several entities seek approval from the US Securities and Exchange Commission (SEC) for Bitcoin ETFs based on futures rather than physically supported alternatives.
Eric Balchunas, a senior ETF analyst at Bloomberg, said in a tweet on Friday that two such ETFs, Proscher Bitcoin Strategy ETF and Invesco Bitcoin Strategy ETF could see the green light from the SEC.
“Bitcoin Future ETF has said it will not face any opposition at the SEC, confirming it according to multiple sources (on the one hand, I hear the same thing),” Balchunas tweeted with an article in Bloomberg. “A lot of deals have been done. Hopefully they will be launched next week.” Balchunas said he personally thinks the chances of approval are more than 90%. Mention 75% disagreement Bitcoin Futures ETF for Greenlighting in October.
The commission, however, may delay its decision. Cointelegraph published a separate article this week, commenting by Todd Rosenbluth, CFRA’s ETF and senior director of mutual fund research, who noted the Bitcoin Futures ETF approval May not come until 2022.
Meanwhile, Evidence matched Friday Valkiri’s Bitcoin Futures are laying the groundwork for ETF’s potential SEC approval. Shares of ETF have received Nasdaq registration approval by the SEC. Although the SEC may decide to suspend a judgment for this special ETF until December, the current deadline is October 25.
FUD of the week
Bitcoin shuts down shipments of Antminar crypto mining rig in China
Bitman, a leading supplier of crypto mining equipment, closed its doors in China on October 11. The Chinese government’s recent push against crypto and its representative satanic independence forced the organization to shut down its activities.
The agency said the move to stop shipping crypto mining rigs is part of a response to China’s carbon-neutral policy and environmental goals. However, Bitcoin will continue to supply antiminer crypto mining rigs to users worldwide, including Taiwan and Hong Kong, while the company has also increased the production capacity of its Antbox mobile mining containers.
“From October 11, 2021, Antimina will stop shipping to mainland China. Our staff will contact them to provide alternative solutions for customers in mainland China who have purchased long-term products, ”Bitman said in a statement.
Bitcoin Future ETFs are likely to be delayed until 2022, says research firm CFRA
Although Bloomberg’s Eric Balchunas noted significant potential disadvantages to approving Bitcoin futures-based ETFs on October 18 (as outlined above), CFRA’s Todd Rosenbloch expressed a different opinion earlier this week.
While he acknowledged that a bitcoin futures product would probably be given the green light by the SEC, Rosenbloth claimed that the crypto sector may have to wait until next year because of the cloudy regulatory environment.
The researchers further suggested that regulators could wait for all of these products to meet their targets so that they could be approved at the same time to avoid the “first driver advantage”.
The Estonian regulator wants to revoke all crypto exchange licenses
On Wednesday, Mattis Maker, head of the Estonian Financial Intelligence Unit (FIU), reportedly called on the Estonian government to revoke all crypto exchange licensing in the state.
Mäeker seeks to re-establish the regulatory landscape surrounding crypto, pushing it in a new direction. The FIU chief asserted that the public is unaware of the underlying risks of the crypto industry, while pointing to the regular risks of misconduct such as money laundering, financing of terrorism and hacking.
He further argues that, at present, the Estonian crypto industry does not create employment for citizens or contribute “anything significant” to the country’s tax authorities.
“These risks are very, very high. We need to respond cardinally and very quickly, ”he said.
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