CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, RIPPLE News, DEFI News
Bitcoin approached $ 16,000 after Powell left rates low and started endless QE
The price of one bitcoin almost reached $ 16,000.
On October 5, Federal Reserve Chairman Jerome Powell confirmed that the worsening coronavirus pandemic poses extraordinary risks to the US economy. He also expressed concern about the depletion of savings of American households after the cancellation of previously adopted measures to stimulate economic growth.
Global Law Firm Launches Token Platform for Valuable Assets TOKO
DLA Piper has already completed its first asset tokenization with a “work of art”.
TOKO, a new tokenization platform targeting “valuable assets”, was launched as a proof of concept by tokenizing a work of art.
TOKO will initially operate in markets with clear regulatory frameworks for asset tokenization such as “UK, Singapore, Switzerland, USA, Canada and possibly Australia”, however the team is also “currently investigating local restrictions and regulations” in other potential markets , and strives to “provide this offer in one way or another to all our customers.”
Ethereum’s social sentiment skyrockets as betting begins
Ethereum is making significant progress and this is reflected in social engagement.
The initial rise in ETH prices began on November 4 when the deposit contract was officially launched. Assets rose 5% to $ 405.
Bitcoin is the more important factor behind the rise in ETH prices, as evidenced by today’s 8% rise to $ 440. Either way, according to LunarCrush analysts, social engagement for Ethereum has grown in the last day or two.
Total XRP is up 107 percent, according to Ripple’s Q3 report.
Ripple shares its previous quarter results in its Q3 report.
According to Ripple’s Q3 report, total XRP volume in Q3 2020 rose 107% to $ 37.13 billion.
The average daily volume of the fourth largest cryptocurrency in the world was $ 403.58 million, which is 106% more than in the previous quarter.
XRP ranked fourth among the most traded cryptocurrencies in the third quarter.
QuadrigaCX has a total of $ 30 million in claims payments of $ 171 million.
QuadrigaCX received claims of $ 171 million from exchange clients.
The trustee of the controversial cryptocurrency exchange QuadrigaCX, Ernst & Young, said it only has about $ 29.8 million to distribute to applicants, despite receiving claims of $ 171 million.
In a Nov. 6 filing with the Ontario Supreme Court, EY said it had received 17,000 lawsuits from clients who entrusted their funds to the Canadian exchange.
The Federal Reserve keeps rates close to zero and also buys assets
The Federal Reserve has said it will keep base interest rates at their current levels.
The announcement is in line with economists’ expectations that the US central bank will not take new actions in the area of monetary policy.
The FED has increased its balance sheet by about $ 3 trillion this year to $ 7.1 trillion, raising fears about future inflation that has boosted investor demand for bitcoin, seen as a hedge against rising consumer prices and a weakening dollar.
US Confiscates $ 1 Billion in Bitcoin from Silk Road Hacker
US Attorney Says Government Is Behind November 3 Transfer Of Almost 70,000 BTC
In a Nov. 5 filing, the US Department of Justice said it was confiscating nearly 70,000 bitcoins and several other cryptocurrencies that had been stolen from the infamous Silk Road darknet market.
CME Bitcoin Futures Soar During US Presidential Election
As ballots poured in on the night of the US presidential election, traders filled in and out of CME positions.
When the votes came on the night of November 3, the day of the US presidential election, the volume of bitcoins on the Chicago Mercantile Exchange skyrocketed.
This Wall Street trading firm owns these 6 Ethereum DeFi tokens and $ 75 million utility tokens.
Even after the strong correction of decentralized finance coins, it is clear that capital is flowing into this space.
According to data from DeFi Pulse, the total value of DeFi contracts recently hit $ 12 billion. At the beginning of the year, this figure was close to $ 400 million.
Interestingly, this rally is largely attributed to retail investors and crypto whales.
86% Quarter Growth: Square Reports $ 1.63 Bitcoin Sales In Q3
Square reported net revenues from bitcoin sales of $ 1.63 billion.
In the third quarter of 2020, Square reported net Bitcoin sales of $ 1.63 billion. Gross profit for this period was $ 32 million. BTC earnings for the firm are up nearly 90 percent over the second quarter and nearly 10 times over last year.
It is also important to note that the company physically owns $ 50 million worth of bitcoins from a special BTC purchase last month.
Square on $ 1.63 billion in net revenue.