This week in crypto: Bitcoin celebrates its anniversary with a rally, UK tightens crypto regulation, and Coinbase ventures into futures trading.
Posted November 3, 2023 at 4:35 pm EST.
In this weekly recap, we cover:
- Bitcoin’s 15-year whitepaper anniversary coincides with a significant price surge, stoked by ETF optimism and the Fed’s steady interest rates.
- BlackRock’s potential role in a spot bitcoin ETF approval sparks a market rally, while major trading firms discuss liquidity provision.
- The UK government proposes stringent crypto regulations, with the Financial Conduct Authority set to oversee stablecoins and algorithmic tokens.
- The U.S. Government Accountability Office challenges the SEC’s crypto custody rule, suggesting Congress review the guidance.
- Tether’s attestation reveals $3.2 billion in excess reserves, with a high percentage in U.S. Treasury bills, amidst market concerns over T-bill oversupply.
- Coinbase launches regulated crypto futures trading in the U.S., offering “nano-sized” bitcoin and ether contracts.
- Animoca Brands secures a $50 million investment through a partnership with Saudi Arabia’s Neom Investment Fund, aiming to develop Web3 infrastructure.
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