Weekly Crypto Digest for November 6-12, 2023
Monday, November 13, 2023
In the latest issue of Weekly Crypto Digest read more about how Bitcoin approaches $38,000, Nasdaq Confirms BlackRock's Ethereum ETF, Grayscale began negotiations with the SEC about converting GBTC, SEC has problems with hiring crypto specialists, and more news.
Bitcoin approaches $38,000
Last week, the quotes of the first cryptocurrency once again confidently rose above $35,000, and on Thursday, November 9, they approached $38,000.
On Binance, the rate immediately reached $37,972.
At the end of the week, Bitcoin consolidated above $37,000, and Ethereum above $2,000.
All digital assets from the top 10 by capitalization ended the week in the “green zone”. The biggest gainers were Solana (+44.3%), Cardano (+14.7%) and Dogecoin (+12.8%).
Grayscale began negotiations with the SEC about converting GBTC
The SEC is discussing with Grayscale Investments the details of a possible conversion of the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.
The regulator began negotiations after Grayscale resubmitted its application to the SEC. If the decision is positive, GBTC will begin trading shares on the NYSE Arca exchange.
Binance launched its crypto wallet
Binance, the cryptocurrency exchange, announced the launch of a Web3 wallet, which is available to users through the platform’s mobile application.
The extension was announced personally by the head of the company, Changpeng Zhao, at Binance Blockchain Week conference in Istanbul.
The utility runs in the main Binance trading application and uses multi-party computing (MPC) technology that splits private keys into three parts and stores them on different servers.
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SEC spoke about problems with hiring specialists in the field of cryptocurrencies
The US Securities and Exchange Commission (SEC) has difficulty attracting specialists from the cryptocurrency sector. Says the inspector general's report.
The document states that professionals are reluctant to work for the agency due to the requirement to sell their digital assets to obtain a position.
SEC staff told The Block that such a ban harms recruiting, as candidates are often unwilling to give up their crypto assets for a job.
The SEC Inspector General's report called cryptocurrencies "an area that is evolving" and presents particular challenges for the agency. In addition, the report noted that the rapid growth of crypto assets is one of several “evolutionary risks.”
Nasdaq Confirms BlackRock's Application to Launch a Spot Ethereum ETF
BlackRock's registration proposal to launch the iShares Ethereum Trust, a spot ETF based on the second-largest cryptocurrency by capitalization, was confirmed by Nasdaq. The exchange filed a corresponding application with the SEC on behalf of the investment giant.
If approved, the product will be listed on the platform.
According to the document, Coinbase will act as the custodian of the ETF. The company is also named in a joint surveillance agreement to prevent fraud and market manipulation.
Hackers hacked Poloniex exchange wallet worth $28 million
PeckShield specialists noticed many suspicious transactions related to the wallet of the Poloniex crypto exchange. They tagged Tron founder Justin Sun in their post.
Hackers withdrew most of the funds from the specified address in a short period. The wallet balance dropped from $28 million to $800,000.
Poloniex announced a temporary suspension of the wallet. The exchange team stated that they will keep users informed of all updates.
Justin Sun commented on the Poloniex wallet hack. He said that the case is already under investigation:
We are currently investigating the Poloniex hack incident. Poloniex maintains a healthy financial position and will fully reimburse the affected funds. Additionally, we are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds.
Justin Sun also offered the Poloniex hacker a 5% reward. According to him, the hacker has 7 days to consider this proposal before the management of the exchange contacts law enforcement agencies.
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