Another Spot Bitcoin ETF gets rejected by SEC; Google, Coinbase partner for crypto payments
Some of the biggest news in the crypto world on Oct. 10 included a new partnership between Google and Coinbase to start accepting crypto payments, Bittrex fined $30 million for violating federal sanctions, and lack of oversight. WisdomTree’s spot Bitcoin ETF rejection by SEC.
CryptoSlate Top Stories
Google will integrate cryptocurrency payments with cloud services starting in 2023 through a partnership with Coinbase.
Google and Coinbase are working together to launch a crypto payment solution. After the announcement, COIN’s stock price jumped 6%.
The duo will allow users of Google cloud services to pay via Coinbase-supported cryptocurrencies. Google also uses Coinbase Prime to store crypto assets.
Bittrex pays $30 million for sanctions violations
Crypto exchange platform Bittrex has been fined $30 million by the US Department of the Treasury’s Office of Foreign Assets (OFAC) and the Financial Crimes Enforcement Network (FinCEN) for violating federal sanctions.
Between 2014 and early 2017, Bittrex allowed approximately 1,800 individuals from sanctioned territories such as Iran, Crimea, and Syria to trade cryptocurrencies on its platform. The exchange has agreed to pay the fines and make any necessary adjustments to comply with the sanctions.
SEC Rejects WisdomTree Bitcoin Spot ETF
The U.S. Securities and Exchange Commission (SEC) has rejected the Wisdom Tree Bitcoin (BTC) Trust ETF for not providing an effective means of protecting investors from market manipulation.
The SEC said oversight is important before approving a spot of Bitcoin ETF given the highly unregulated nature of the crypto market.
Temple DAO hacked for over $2.3 million
Temple DAO was hacked on October 11th and lost 1,831 Ethereum (ETH) worth over $2.3 million. The project team provided a bounty on the hacker’s head to shut down the dApp to prevent misuse.
#PeckShieldAlert seems like @templedao exploited.Exploiter was funded by her SimpleSwap and already he transferred 1,831 $ETH (~$2.34M) to new address 0x2B63d…B5A0 @Peckshield https://t.co/bOyOARyyxY pic.twitter.com/SVEm8o95U6
— PeckShieldAlert (@PeckShieldAlert) October 11, 2022
Coffeezilla condemns Celsius founder Alex Masinsky for dumping CEL tokens.
Crypto sleuth Coffeezilla has accused Celsius (CEL) founder Alex Mashinski of dumping over 10,000 CEL tokens in the early hours of October 11.
Coffeezilla published the accusations as a thread on his Twitter account. Masinski’s wallet address was later identified by Nansen, revealing that about 10,000 of his CEL tokens were actually exchanged for about $9,300 of his USD coin (USDC).
BNY Mellon Receives New York Approval for Crypto Custody Service
Bank of New York Mellon (BNY Mellon) was approved to offer digital asset custody services on October 11th. This will allow BNY Mellon customers to store the keys to their assets in the bank.
CNN’s NFT Marketplace shutdown sparks accusations of pulling the carpet
CNN’s NFT marketplace “Vault by CNN” announced its closure. The platform launched in the summer of 2021 during the NFT boom, but an unexpected shutdown sparked debate about the potential lag pull.
A CNN spokesperson responded to community concerns by saying that Vaults by CNN owners can expect to be compensated with about 20% of the distribution based on the NFTs in their wallets.
research highlights
Bitcoin Open Interest, Leverage Ratio Surge Expects Liquidation
Given the state of the fiat market and Bitcoin’s relatively flat price volatility, hovering between $18,400 and $22,800 over the past few months, there are signs that Bitcoin is breaking away from traditional markets. may indicate .
CrytpoSlate analysts looked at three different metrics. Using Bitcoin Futures Estimated Leverage Ratio (ELR), Futures Open Interest, and Futures Perpetual Funding Rate (FPFR), we confirm that the cryptocurrency market is extremely hot and over-leveraged.
This is an indicator of a broader liquidation period ahead in which Bitcoin-led asset prices could fall.
Investigation: What Happened to Shiba Inu in 2021?
The Shiba Inu (SHIB) surged through 2021, but continued to decline in 2022. crypto slate Analysts have identified a difference in the amount of SHIB held by exchanges across both major SHIB unlocks.
SHIB was first released in April/May, and the price and volume of SHIB tokens held on exchanges surged. The second major unlock he took place in October/November and marked a new price ATH. However, the number of SHIB tokens held by exchanges has decreased sharply.
Since then, the price of SHIB has continued to fall.according to crypto slate Data show that SHIB has fallen 58.32% over the past 365 days, and is currently hovering around $0.000011, 88% lower than ATH.
News around Cryptoverse
YugaLabs faces SEC investigation for unregistered product.
Yuga Labs, the creator of Bored Ape, says it faces investigation from the SEC. Bloomberg. The commission is investigating the legality of Yuga Labs’ sale of high-value NFTs.
crypto market
Bitcoin (BTC) has fallen 1.19% to trade at $19,003 over the past 24 hours, while Ethereum (ETH) has also fallen 2.02% to trade at $1,282.
