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Bitcoin (COIN: BTCUSD) is trading at around $34,300 following changes in the Bank of Japan’s (BOJ) approach to its “yield curve control” (YCC) program. The BOJ has chosen to consider the 1% limit for 10-year government bonds as a reference instead of a ceiling, providing greater yield flexibility and reducing the need for bond purchases to boost liquidity. The leading cryptocurrency has experienced a slight 0.44% decline in the last 24 hours. Bitget analyst Fernanda Pereira commented, “BTC dominance reached 54% last week and is slowly retreating. I believe it could go back to 52%. If that happens, we will see altcoins appreciating more than BTC during November, and that’s my bet for this month. Polygon (COIN: MATICUSD), Polkadot (COIN: DOTUSD), and Chiliz (COIN: CHZUSD) are assets to keep an eye on.”
Even with Bitcoin’s (COIN: BTCUSD) price 50% below its all-time high, a record number of wallet addresses are profitable. On October 30, on-chain analysis company Glassnode recorded 39.1 million profitable addresses, surpassing the previous peak of 38.1 million in November 2021. Currently, 81.1% of Bitcoin addresses are in profit, while just over 9 million are at a loss. The recent Bitcoin appreciation has benefited both long-term and short-term holders.
The Unibot hacker transferred $630,000, stemming from a theft from the Telegram trading bot, through Tornado Cash. The Unibot team, in a post, acknowledged a “token approval exploit” and halted its router in response. The UNIBOT token (COIN: UNIBOTUSD) dropped by 30% after the hack. Reports from Cyvers Alerts estimate the theft at around 345 Ethereum. Unibot stated that victims would be compensated, and full details would be provided after the investigations.
MetaMask, in collaboration with Blockaid, has introduced an advanced feature to enhance user security. This feature, called the Offline Privacy Preservation Module (PPOM), acts as an offline transaction and signature validation mechanism, preventing compromises with external servers. Blockaid’s tool also allows simulating interactions in dApps, detecting malicious behaviors. The gradual integration of this function aims to minimize false positives. The threat of phishing and scams is growing in the cryptocurrency industry, with many users falling victim to fake wallet apps.
Tether Holdings Limited, the creator of the renowned stablecoin USD Tether (COIN: USDTUSD), presented a report verified by BDO, demonstrating financial strength. The attestation shows an increase in cash reserves to 85.7% of the total, a reduction of $330 million in secured loans, and significant investments in research. Despite fluctuations in gold and Bitcoin, the company maintained solid excess reserves. Its focus on sustainability and innovation is underscored by investments in clean energy and P2P technology.
Ethereum co-founder Vitalik Buterin addressed the ongoing evolution of the Ethereum Layer 2 ecosystem in his blog. According to him, different Layer 2 protocols are adopting unique approaches to optimize scalability, costs, and security. While rollups like Arbitrum and Optimism enhance security, other projects aim to align more closely with Ethereum. Buterin emphasized decentralization as a key feature but with variable flexibility for different applications. He also highlighted the importance of balancing security with scalability while anticipating future advancements in the Ethereum ecosystem.
Mokgweetsi Masisi, the President of Botswana, sees blockchain as a vital solution for the diamond industry. He believes this technology can ensure the ethical and sustainable origin of diamonds, excluding “blood diamonds” from the markets. In a recent speech, Masisi emphasized the importance of transparency and traceability, stating that blockchain provides the necessary trust to consumers. He emphasized the need for innovation for a more responsible and prosperous diamond industry.
Celestia blockchain has debuted its mainnet Beta version after distributing the TIA token (COIN: TIAUSD) to 580,000 users. This modular network aims to address scalability and stability issues found in traditional blockchains like Ethereum and Solana. Unlike these, Celestia prioritizes modularity, allowing for greater speed without compromising decentralization. The introduction of the Data Availability Sampling (DAS) system on the network optimizes data transfer. This Beta phase enables Celestia’s use by rollups and modular chains. Valued at $1 billion, Celestia raised $55 million in the last year.
xBlock has launched an innovative solution to ensure private transactions in the blockchain economy, catering to business demands. While public blockchains compromise confidential financial data, xBlock offers a solution that maintains the privacy of this data. The founder, Lou Waroo, highlights that xBlock’s solution protects blockchain wallet addresses, easily integrates with payment systems, and has already processed $250 million in transactions in the past year. xBlock stands out for its compatibility, security, and versatility, usable on various blockchains.
Coinbase’s nonprofit initiative, “Stand With Crypto,” has attracted over 100,000 participants in just a few weeks. The initiative’s website facilitates contact with lawmakers and clarifies their stances on cryptocurrencies, and it has already raised over $2 million in donations, with half coming from Coinbase (NASDAQ:COIN) CEO Brian Armstrong. The project aims to enhance cryptocurrency advocacy and plans to expand its activities and reach.
Daniel Shin, co-founder of the collapsed Terraform Labs, pointed to former CEO Do Kwon as responsible for the company’s crisis in 2022, according to South Korean media outlet Munawa Broadcasting Co. Indicted for his connection to the cryptocurrency company, Shin claimed to have left Terraform Labs two years before the collapse. During his trial, it was emphasized that the company’s failure was due to Kwon’s mismanagement with the Anchor Protocol and external interference. While Shin is on trial in South Korea, Kwon is detained in Montenegro for possession of false documents.
Sam “SBF” Bankman-Fried, the founder of FTX, claimed that the platform’s fiat deposits were part of the “risk management” of his company Alameda Research. In court, he was questioned about the use of $8 billion from customers. He admitted to being more focused on Alameda than FTX. Revelations suggest that FTX had close relations with the government of the Bahamas, including allegations of favoring Prime Minister Philip Davis. The trial continues, and a conclusion is expected next week.
Delaware Judge Brendan Shannon authorized Bittrex, a Seattle-based cryptocurrency exchange, to complete its Chapter 11 bankruptcy plan and cease operations in the United States. The decision came after the U.S. Securities and Exchange Commission (SEC) accused Bittrex and its former CEO of unregistered operations, generating $1.3 billion in revenue. Despite agreeing to a $24 million settlement in August, the company declared it was not viable to continue in the United States. Bittrex Global, which operates internationally, will not be affected.
At the Solana conference in Amsterdam, Etherfuse introduced ‘Stablebond,’ a tokenized security aimed at Mexican retail investors. Mexico is the second-largest bond market in Latin America, with significant liquidity but predominantly dominated by institutions and foreign investors. Etherfuse aims to balance Mexican participation, with only 2% of bonds held by locals. Stablebonds, based on Solana, are backed by the Mexican government.
Bastion, a cryptocurrency startup founded by former leaders of Andreessen Horowitz, has obtained money transmission licenses in New Hampshire and Arkansas. Granted by local banking departments, these licenses allow Bastion to offer digital asset services in these states. The company has similar applications in progress in other states. Founded in September 2023, Bastion reinforces its commitment to regulated integration of digital assets, joining names like Coinbase (NASDAQ:COIN) and Alchemy Pay with similar licenses.
Japan has frozen the assets of nine representatives of Hamas and a cryptographic firm, alleging links to terrorism financing. The decision was made during a government meeting on October 31. Hamas, known for its tensions with Israel, was labeled a terrorist organization by Japanese Prime Minister Fumio Kishida. The aim of the sanctions is to disrupt funding for Hamas. This action follows similar measures by the United States, which sanctioned individuals and entities linked to the group.
The Hong Kong Monetary Authority (HKMA) announced a successful transition to the second phase of its e-HKD pilot project after the satisfactory completion of the initial phase. Launched in 2022, the program assessed the potential of a CBDC in areas such as full, offline, and programmable payments. The HKMA report emphasized the advantages of tokenization, atomic settlement, and programmability. The next stage will explore promising use cases and consider distributed ledger technologies due to their scalability and interoperability.
Ripple Labs is collaborating with Hong Kong’s Fubon Bank on a pilot project, e-HKD, for the settlement of tokenized properties. Using advanced technology, the program aims to provide a simplified Home Equity Line of Credit (HELOC) for residents. E-HKD, Hong Kong’s central bank digital currency, promises to streamline and reduce settlement costs. The project, involving multiple participants like Hex Trust and Stratford Finance, seeks to optimize access to real estate and explore its full tokenization.
Spain plans to implement the Markets in Crypto-Assets (MiCA) regulation six months earlier, with a planned start date of December 2025. In a recent meeting between Nadia Calvino and ESMA’s Verena Ross, the acceleration of regulatory adoption was discussed. The move aims to provide greater investor protection, affecting major digital asset companies like Coinbase (NASDAQ: COIN) and Binance. While many European countries progress with MiCA regulations, the Bank of Spain highlights the benefits of the digital Euro, the European Central Bank’s Digital Currency, although data privacy concerns remain.
Bulgaria’s oldest football team, Botev Plovdiv FC, now accepts Bitcoin (COIN: BTCUSD) and Lightning Network as payment methods, thanks to its adoption of the Nostr protocol. This innovation allows fans to purchase merchandise and tickets with Bitcoin at Parva Liga games. Anton Zingarevich, the club’s president, envisions a future where Bitcoin is as common as the internet. The implementation was made possible through a partnership with BTCPay Server and collaboration with CryptoDesk.bg and Bitcoinize.com.
Dubai-based BlockWoods, focused on cryptocurrency marketing, has been invited as the official marketing partner for the prestigious World Blockchain Summit. At the event, it will share the stage with blockchain industry leaders, presenting its innovative project. This is not BlockWoods’ first major participation; they have also been present at renowned events like the Future Blockchain Summit and TOKEN2049 in Singapore.
The Dubai Virtual Asset Regulatory Authority (VARA) has granted digital wallet Backpack the Virtual Asset Service Provider license, allowing it to launch the Backpack Exchange. This license covers cryptocurrency exchange services in Dubai only. With technical advancements like zk-proofs and MPC, Backpack aims to bring more transparency to the sector. The platform will be accessible to selected users starting in November 2023 and to the general public in early 2024.
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