Crypto Market Highlights October 19, 2021
88% of the investments flow into Bitcoin, the NY Attorney General is on strike again, etc. are the highlights of the crypto market in the last 24 hours.
Crypto Market Highlights October 19, 2021: Investment News
– Digital asset investment products saw inflows of up to $ 80 million last week, according to CoinShares data. Bitcoin (BTC) saw the largest inflow at $ 70 million, marking its fifth straight week of inflows. However, according to the report, weekly inflows are still much lower than inflows in the first quarter of this year, which saw US investors more heavily involved. The BTC futures ETF could lead to even bigger capital outflows in the coming weeks as US investors start adding positions, he added. Although Ethereum (ETH) has seen its second week of outflows, those outflows are not significant enough to determine the current trend, according to CoinShares.
– Global brokerage firm Interactive Brokers Group has announced the launch of cryptocurrency trading for Registered Investment Advisors (RIAs) in the US, allowing these RIAs to trade and custody Bitcoin, Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) Paxos Trust Company on behalf of clients. RIAs will benefit from the ability to manage their clients’ positions in cryptocurrencies in addition to stocks, options, futures, bonds, mutual funds and exchange traded funds (ETFs), the company said.
– The Digital Asset Marketplace Bakkt announced the completion of a business combination with Special Purpose Acquisition (SPAC) VPC Impact Acquisition Holdings. Bakkt shares are Class A common shares and warrants will be traded on the New York Stock Exchange starting today under the symbols “BKKT” and “BKKT WS” respectively.
– According to President Nayib Bukele, mainstream Bitcoin rollout in El Salvador is gaining momentum amid continued price hikes as people increasingly trade their US dollar savings for BTC.
Crypto Market Highlights October 19, 2021: Legal News
New York attorney general Letitia James said she had ordered two crypto-lending platforms to immediately cease their illegal and unregistered activities in New York and promptly direct the other three to provide information about their activities and products. “Today’s action builds on that work and sends a message that we will not hesitate to take all necessary action against any company that claims to be in compliance with the law,” James is quoted as saying.
The Attorney General’s Office has revised the names of the companies. However, the files initially retained the names “Nexo Letter” and “Celsius” before they were repaired.
Crypto Market Highlights October 19, 2021: Mining News
BTC.com estimates that the difficulty of mining Bitcoin, or a measure of how hard it is to compete for mining rewards, is expected to increase by around 1% to $ 20K today. This is the seventh win in a row and is heading for an all-time high of 25.05 T, which was recorded in mid-May.
Payment service provider Square is considering developing a bitcoin mining system, said the company’s CEO Jack Dorsey. He added that he believed the project should be built in collaboration with the community and urged others to join the discussion on key issues related to BTC mining.
Cryptocurrency mining company BIT Mining Limited announced that it has stepped up its collaboration with Viking Data Center. The company intends to increase investments in the Ohio Mining Site (Ohio Mining Site), a crypto mining data center that is being jointly developed with Viking Data Center, to add up to 85 MW of additional power capacity of up to 65 megawatts (MW). according to the original design, bringing the total planned electrical capacity of the Ohio mine to 150 MW.
Crypto Market Highlights October 19, 2021: Stablecoin News
Global fintech company Circle has announced the support of USD (USDC) on the Hedera Network (HBAR), an enterprise-class public network for the decentralized economy. USDC on Hedera is now available for use in Circle Accounts, where customers can deposit, withdraw and deposit USDC on the Hedera network and use Hedera for USDC settlement and settlement transactions. The announcement adds that Circle’s entire developer API suite has also been updated to support USDC on Hedera.
Crypto Market Highlights October 19, 2021: Stock market news
Huobi Japan announced that it has received approval from Japan’s Financial Services Authority to register as a Class I financial instrument company, the exchange said.
Crypto Market Highlights October 19, 2021: NFT Game News
Online gaming giant Steam does not allow blockchain-based video games on its platform as per its updated rules and guidelines. The games that were removed due to the new rules included Age of Rust, a sci-fi adventure game where players look for non-fungible tokens (NFTs) and BTC rewards, the team said of them.
Crypto Market Highlights October 19, 2021: DeFi News
Decentralized Finance Incubator (DeFi) Dispersion Holdings has announced plans to acquire the trading and productivity platform Accru Finance. The acquisition is valued at £ 8.75 million (US $ 12 million) and the co-founders of Accru Finance will join Dispersion’s board of directors.
Crypto Market Highlights October 19, 2021: Crime News
Exchanges and other financial institutions reported more than $ 590 million in payments related to ransomware attacks, including crypto payments, to the Financial Crimes Enforcement Network United States (FinCEN) in the first half of 2021, bringing the 2020 total of just 416 million US dollars exceeded. However, the watchdog has not clarified what percentage of this total is made up of cryptocurrencies.
Data from Action Fraud, the UK’s national fraud and cybercrime reporting agency, shows £ 146 million (US $ 200 million) has been lost to crypto fraud since the beginning of this year – 30% more than the total loss for all of 2020, the center said .
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