Bitcoin maintains stability after changes in the Bank of Japan’s
liquidity policy
Bitcoin (COIN: BTCUSD) is trading at around $34,300 following
changes in the Bank of Japan’s (BOJ) approach to its “yield curve
control” (YCC) program. The BOJ has chosen to consider the 1% limit
for 10-year government bonds as a reference instead of a ceiling,
providing greater yield flexibility and reducing the need for bond
purchases to boost liquidity. The leading cryptocurrency has
experienced a slight 0.44% decline in the last 24 hours. Bitget
analyst Fernanda Pereira commented, “BTC dominance reached 54%
last week and is slowly retreating. I believe it could go back to
52%. If that happens, we will see altcoins appreciating more than
BTC during November, and that’s my bet for this month. Polygon
(COIN: MATICUSD), Polkadot (COIN: DOTUSD), and Chiliz (COIN:
CHZUSD) are assets to keep an eye on.”
Record number of profitable Bitcoin addresses despite price drop
Even with Bitcoin’s (COIN: BTCUSD) price 50% below its all-time
high, a record number of wallet addresses are profitable. On
October 30, on-chain analysis company Glassnode recorded 39.1
million profitable addresses, surpassing the previous peak of 38.1
million in November 2021. Currently, 81.1% of Bitcoin addresses are
in profit, while just over 9 million are at a loss. The recent
Bitcoin appreciation has benefited both long-term and short-term
holders.
Unibot hacker moves US$630,000 via Tornado Cash
The Unibot hacker transferred $630,000, stemming from a theft
from the Telegram trading bot, through Tornado Cash. The Unibot
team, in a post, acknowledged a “token approval exploit” and halted
its router in response. The UNIBOT token (COIN: UNIBOTUSD) dropped
by 30% after the hack. Reports from Cyvers Alerts estimate the
theft at around 345 Ethereum. Unibot stated that victims would be
compensated, and full details would be provided after the
investigations.
MetaMask and Blockaid introduce anti-phishing measures in the
cryptosphere
MetaMask, in collaboration with Blockaid, has introduced an
advanced feature to enhance user security. This feature, called the
Offline Privacy Preservation Module (PPOM), acts as an offline
transaction and signature validation mechanism, preventing
compromises with external servers. Blockaid’s tool also allows
simulating interactions in dApps, detecting malicious behaviors.
The gradual integration of this function aims to minimize false
positives. The threat of phishing and scams is growing in the
cryptocurrency industry, with many users falling victim to fake
wallet apps.
Tether reveals strengthening reserves and investments in third
quarter report
Tether Holdings Limited, the creator of the renowned stablecoin
USD Tether (COIN: USDTUSD), presented a report verified by BDO,
demonstrating financial strength. The attestation shows an increase
in cash reserves to 85.7% of the total, a reduction of $330 million
in secured loans, and significant investments in research. Despite
fluctuations in gold and Bitcoin, the company maintained solid
excess reserves. Its focus on sustainability and innovation is
underscored by investments in clean energy and P2P technology.
Ethereum layer 2 evolution: Diversity and Vitalik Buterin’s vision
Ethereum co-founder Vitalik Buterin addressed the ongoing
evolution of the Ethereum Layer 2 ecosystem in his blog. According
to him, different Layer 2 protocols are adopting unique approaches
to optimize scalability, costs, and security. While rollups like
Arbitrum and Optimism enhance security, other projects aim to align
more closely with Ethereum. Buterin emphasized decentralization as
a key feature but with variable flexibility for different
applications. He also highlighted the importance of balancing
security with scalability while anticipating future advancements in
the Ethereum ecosystem.
Blockchain: Tool against “blood diamonds,” according to Botswana
president
Mokgweetsi Masisi, the President of Botswana, sees blockchain as
a vital solution for the diamond industry. He believes this
technology can ensure the ethical and sustainable origin of
diamonds, excluding “blood diamonds” from the markets. In a recent
speech, Masisi emphasized the importance of transparency and
traceability, stating that blockchain provides the necessary trust
to consumers. He emphasized the need for innovation for a more
responsible and prosperous diamond industry.
Celestia launches Beta version and introduces modular era in
blockchain
Celestia blockchain has debuted its mainnet Beta version after
distributing the TIA token (COIN: TIAUSD) to 580,000 users. This
modular network aims to address scalability and stability issues
found in traditional blockchains like Ethereum and Solana. Unlike
these, Celestia prioritizes modularity, allowing for greater speed
without compromising decentralization. The introduction of the Data
Availability Sampling (DAS) system on the network optimizes data
transfer. This Beta phase enables Celestia’s use by rollups and
modular chains. Valued at $1 billion, Celestia raised $55 million
in the last year.
xBlock launches solution for private transactions on Blockchain
xBlock has launched an innovative solution to ensure private
transactions in the blockchain economy, catering to business
demands. While public blockchains compromise confidential financial
data, xBlock offers a solution that maintains the privacy of this
data. The founder, Lou Waroo, highlights that xBlock’s solution
protects blockchain wallet addresses, easily integrates with
payment systems, and has already processed $250 million in
transactions in the past year. xBlock stands out for its
compatibility, security, and versatility, usable on various
blockchains.
Coinbase leverages cryptocurrency advocacy with remarkable success
Coinbase’s nonprofit initiative, “Stand With Crypto,” has
attracted over 100,000 participants in just a few weeks. The
initiative’s website facilitates contact with lawmakers and
clarifies their stances on cryptocurrencies, and it has already
raised over $2 million in donations, with half coming from Coinbase
(NASDAQ:COIN) CEO Brian Armstrong. The project aims to enhance
cryptocurrency advocacy and plans to expand its activities and
reach.
Shin blames ex-CEO Kwon for Terraform Labs collapse
Daniel Shin, co-founder of the collapsed Terraform Labs, pointed
to former CEO Do Kwon as responsible for the company’s crisis in
2022, according to South Korean media outlet Munawa Broadcasting
Co. Indicted for his connection to the cryptocurrency company, Shin
claimed to have left Terraform Labs two years before the collapse.
During his trial, it was emphasized that the company’s failure was
due to Kwon’s mismanagement with the Anchor Protocol and external
interference. While Shin is on trial in South Korea, Kwon is
detained in Montenegro for possession of false documents.
Bankman-Fried and allegations of fund mismanagement at FTX
Sam “SBF” Bankman-Fried, the founder of FTX, claimed that the
platform’s fiat deposits were part of the “risk management” of his
company Alameda Research. In court, he was questioned about the use
of $8 billion from customers. He admitted to being more focused on
Alameda than FTX. Revelations suggest that FTX had close relations
with the government of the Bahamas, including allegations of
favoring Prime Minister Philip Davis. The trial continues, and a
conclusion is expected next week.
Bittrex receives court approval to cease operations after SEC
accusations
Delaware Judge Brendan Shannon authorized Bittrex, a
Seattle-based cryptocurrency exchange, to complete its Chapter 11
bankruptcy plan and cease operations in the United States. The
decision came after the U.S. Securities and Exchange Commission
(SEC) accused Bittrex and its former CEO of unregistered
operations, generating $1.3 billion in revenue. Despite agreeing to
a $24 million settlement in August, the company declared it was not
viable to continue in the United States. Bittrex Global, which
operates internationally, will not be affected.
Etherfuse launches ‘stablebond’ to boost retail investment in
Mexico
At the Solana conference in Amsterdam, Etherfuse introduced
‘Stablebond,’ a tokenized security aimed at Mexican retail
investors. Mexico is the second-largest bond market in Latin
America, with significant liquidity but predominantly dominated by
institutions and foreign investors. Etherfuse aims to balance
Mexican participation, with only 2% of bonds held by locals.
Stablebonds, based on Solana, are backed by the Mexican
government.
Bastion secures money transmission licenses in two U.S. states
Bastion, a cryptocurrency startup founded by former leaders of
Andreessen Horowitz, has obtained money transmission licenses in
New Hampshire and Arkansas. Granted by local banking departments,
these licenses allow Bastion to offer digital asset services in
these states. The company has similar applications in progress in
other states. Founded in September 2023, Bastion reinforces its
commitment to regulated integration of digital assets, joining
names like Coinbase (NASDAQ:COIN) and Alchemy Pay with similar
licenses.
Japan freezes assets of Hamas agents and crypto firm for terrorist
financing
Japan has frozen the assets of nine representatives of Hamas and
a cryptographic firm, alleging links to terrorism financing. The
decision was made during a government meeting on October 31. Hamas,
known for its tensions with Israel, was labeled a terrorist
organization by Japanese Prime Minister Fumio Kishida. The aim of
the sanctions is to disrupt funding for Hamas. This action follows
similar measures by the United States, which sanctioned individuals
and entities linked to the group.
Hong Kong advances to second phase of digital currency program
after successful trial
The Hong Kong Monetary Authority (HKMA) announced a successful
transition to the second phase of its e-HKD pilot project after the
satisfactory completion of the initial phase. Launched in 2022, the
program assessed the potential of a CBDC in areas such as full,
offline, and programmable payments. The HKMA report emphasized the
advantages of tokenization, atomic settlement, and programmability.
The next stage will explore promising use cases and consider
distributed ledger technologies due to their scalability and
interoperability.
Ripple Labs and Fubon Bank test property settlement via e-HKD in
Hong Kong
Ripple Labs is collaborating with Hong Kong’s Fubon Bank on a
pilot project, e-HKD, for the settlement of tokenized properties.
Using advanced technology, the program aims to provide a simplified
Home Equity Line of Credit (HELOC) for residents. E-HKD, Hong
Kong’s central bank digital currency, promises to streamline and
reduce settlement costs. The project, involving multiple
participants like Hex Trust and Stratford Finance, seeks to
optimize access to real estate and explore its full
tokenization.
Spain advances adoption of crypto asset regulation and prepares for
the Digital Euro
Spain plans to implement the Markets in Crypto-Assets (MiCA)
regulation six months earlier, with a planned start date of
December 2025. In a recent meeting between Nadia Calvino and ESMA’s
Verena Ross, the acceleration of regulatory adoption was discussed.
The move aims to provide greater investor protection, affecting
major digital asset companies like Coinbase (NASDAQ: COIN) and
Binance. While many European countries progress with MiCA
regulations, the Bank of Spain highlights the benefits of the
digital Euro, the European Central Bank’s Digital Currency,
although data privacy concerns remain.
Bulgaria’s Botev Plovdiv FC adopts bitcoin as a payment method
Bulgaria’s oldest football team, Botev Plovdiv FC, now accepts
Bitcoin (COIN: BTCUSD) and Lightning Network as payment methods,
thanks to its adoption of the Nostr protocol. This innovation
allows fans to purchase merchandise and tickets with Bitcoin at
Parva Liga games. Anton Zingarevich, the club’s president,
envisions a future where Bitcoin is as common as the internet. The
implementation was made possible through a partnership with BTCPay
Server and collaboration with CryptoDesk.bg and Bitcoinize.com.
BlockWoods gains prominence at the World Blockchain Summit in Dubai
Dubai-based BlockWoods, focused on cryptocurrency marketing, has
been invited as the official marketing partner for the prestigious
World Blockchain Summit. At the event, it will share the stage with
blockchain industry leaders, presenting its innovative project.
This is not BlockWoods’ first major participation; they have also
been present at renowned events like the Future Blockchain Summit
and TOKEN2049 in Singapore.
Backpack receives Dubai VARA license for cryptocurrency exchange
services
The Dubai Virtual Asset Regulatory Authority (VARA) has granted
digital wallet Backpack the Virtual Asset Service Provider license,
allowing it to launch the Backpack Exchange. This license covers
cryptocurrency exchange services in Dubai only. With technical
advancements like zk-proofs and MPC, Backpack aims to bring more
transparency to the sector. The platform will be accessible to
selected users starting in November 2023 and to the general public
in early 2024.
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