Bitcoin volatility lower than Dow with another Fed rate hike of 75 basis points looming

admin October 21, 2022

0 4 minutes read

The biggest news in the cryptoverse on October 21st included the possibility of the Federal Reserve raising interest rates by another 75 basis points in early November, the emergence of two new meme coins created from Vitalik Buterin jokes and Includes price spikes. Circle and Axelar’s new protocols seamlessly enable cross-chaining of USDC transactions.

Fed likely to raise interest rates by 75 basis points at November meeting

The Federal Reserve is now working to introduce an additional 75 basis points rate hike. This rate may be introduced at the next conference on November 1-2.

The Fed has raised interest rates by 75 basis points at each of its last three meetings in September.

Vitalik joke leads to 2 new memecoins soaring over 300%

Ethereum (ETH) founder Vitalik Buterin joked about the fictitious DIE coin and said he would get a token shirt with such a name.

Today the DIE token is real and trades at $0.000341 on Pancakeswap. In the last 24 hours, the DIE token surged 300% of his, taking him to $730,000 in trading volume in 740 trades.

Axelar’s new protocol, USDC, has cross-chain swaps without bridges.Deprecated Bridge Token

Axelar and Circle have announced the launch of their cross-chain transfer protocol. This allows users to transfer USDC cross-chains without wrapping their tokens or lending their assets to cross-chain bridges.

Axelar’s Jason Ma shared his comment: crypto slate Regarding this issue, he said:

“LPs do not hold bridge assets.

INTERPOL Brings Global Policing to the Metaverse

The International Police Organization has announced that it intends to bring law enforcement into the Metaverse. Interpol gathers and trains law enforcement personnel to begin fighting crime in the real world and online.

Polkadot Ecosystem Drops 2.9% After Founder Gavin Wood Steps Down as Parity CEO

Polkadot (DOT) founder Gavin Wood announced his resignation, stating:

“I will refocus on exploring how we can contribute to making Polkadot and Web3 more relevant to a large portion of the population.”

The DOT has responded to the news by losing more than 2.9% of its market cap over the past 24 hours, down about $13 billion. Meanwhile, the price of DOT fell by 4.3% to reach $5,84 and the Kusama (KSM) token fell by 7% in the last 24 hours.

White hat hackers return $300,000 from OlympusDAO exploit

Ethical hackers exploited Olympus’ DAO to steal 30,437 OHM tokens worth about $300,000. The hacker then returned the stolen amount to his DAO in two separate transactions.

seems related @Olympus DAOThe BondFixedExpiryTeller contract has a rede() function that does not properly validate its inputs, resulting in losses of up to $292,000. https://t.co/dkhC5Ex9sz https://t.co/ikidpLyBga pic.twitter.com/wu5tUrepS6

— PeckShield Inc. (@peckshield) October 21, 2022

Blockchain security firm Peckshield said hackers abused the contract’s “BondFixedExpiryTeller” to fail to properly validate transfer requests.

CFTC Aggressively Takes Action on 18 Crypto-Related Cases in 2022

Since the beginning of 2022, the Commodity Futures Trading Commission (CFTC) has actively implemented 18 cryptocurrency-related legal actions. Overall, the CFTC fined him more than $2.5 billion in 82 lawsuits involving commodity assets.

Collapsed crypto exchange ACX used $20 million in customer funds for business loans

An investigation into bankrupt cryptocurrency exchange ACX has revealed that the platform used more than $20 million of its customers’ funds to back its parent company, Blockchain Global, in lending.

Blockchain Global launched the ACX exchange in 2016 and the platform was functioning until October 2021 when it frozen withdrawals and went bankrupt.

BitKeep Launches Redemption Portal For Swap Hack Victims

Bitkeep has launched a website for victims of recent exploits. The news was announced on Bitkeep’s official Twitter account, promising full compensation.

As you may know, BitKeep Swap was hacked on October 18, 2022, resulting in the loss of funds for some BitKeep users.

We have launched a redemption portal for this issue as full compensation is promised. 👇https://t.co/e46fsQMNFV

— BitKeep Wallet (@BitKeepOS) October 21, 2022

Bitkeep was attacked earlier this week, losing over $1 million from its BNB chain and Polygon assets.

Korean police raid Hancom office and chairman’s house over suspicion of slush funds

South Korean prosecutors have raided the office of software company Hancom and the home of the Hancom Group chairman on suspicion of manipulating the price of Arowana tokens.

The investigation and arrest came after the price of arowana soared from 50 won ($0.03) to 53,800 won ($37.56) in 30 seconds.

Hong Kong CEO proposes statutory license for VASP in policy speech

The Chief Executive of the Hong Kong Special Administrative Region has submitted a proposal to establish a statutory licensing regime for virtual asset providers. The proposal also calls for efforts by the Hong Kong Monetary Authority (HKMA) to create a regulatory framework for stablecoins.

Crypto Slate Exclusive

Cozies aims to tackle web3’s cryptobro, degen culture through Hygge’s ‘cozy’ culture NFT

CryptoSlate spoke with Andrew Fai and the team at NFT Project Cozies about the launch of their new NFT line. This collection focuses on the Danish concept “Hygge”. It translates in English as ‘giving courage, comfort and joy’ or simply ‘cozy’.

Asia Blockchain Summit veteran and founder Andrew Fai, who leads the Cozies team, said: crypto slate This team is on a mission to create the Cozy identity movement.

He said:

“Our first goal is to establish a strong and welcoming identity: understanding who you are, what you own and where you are going. Cozies Art is deeply rooted in these values and strives to bring the art of Cozies to life through strong storytelling and a unique and dynamic community infrastructure inspired by RPG games and the use of Soul Bound Tokens (SBTs). I am aiming.

This makes Cozies a cozy and serene corner of Web3, a gentle reminder to care more about your own well-being and to cherish your physical and digital experiences. ”

research highlights

Survey: Bitcoin weathers macro headwinds as Dow Jones falls

Bitcoin (BTC) has been relatively stable, hovering between $18,100 and $20,500 since mid-September. The chart below shows the recent stability of the Bitcoin price.

Meanwhile, the Dow Jones has become increasingly volatile. The chart below shows his 10-day realized volatility spread between the Dow Jones against Bitcoin.

Volatility has now reached a point where the Dow Jones is more volatile than Bitcoin.

News around Cryptoverse

Bitget partners with Messi

Cryptocurrency exchange Bitget has announced a new partnership with famous soccer player Lionel Messi. In the announcement post, dup says it will “explore the areas of Web3, cryptocurrency and football.”