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 | GLOBAL CRYPTO MARKET CAP | |  | 24H CRYPTO MARKET VOLUME | |  | BITCOIN'S DOMINANCE | | |
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| All data as of: 3 Nov 2023 10 AM UTC |
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The crypto markets are continuing their fall rebound with a strong start to November. Following the gains we saw in October, it seems the momentum of this rally is still going strong! That's hopeful news to cap off a week where the long-awaited crypto trial of Sam Bankman-Fried has finally concluded. And in an unsurprising outcome, he was convicted on all fraud and money laundering charges. |
Today we'll break down the conviction of Sam Bankman-Fried and other important crypto stories. Let's dive in! |
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In the trial of the century (in crypto, TradFi has seen worse!), Sam Bankman-Fried was convicted on all fraud charges. Prosecutors say he engineered a multi-billion dollar "scheme" but his lawyers say he got caught up in forces beyond his control (aka crypto volitality). Either way, the once-celebrated crypto billionaire faces decades behind bars.
Will an appeal overturn the verdict? Read the full story!
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Dubai continues adding crypto to its cocktail of regulatory ingredients, approving XRP and TON in its special economic zone. That's great news for the thousands of companies that will now be able to use these assets.
But is it enough for Dubai to become THE global crypto hub? Is it working on other coins to add to its economic arsenal? Read the full story!
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| With Bitcoin surging past $35,000 and Ethereum above $1,800, the crypto market is highly anticipating the approval of the first Bitcoin and Ethereum spot ETF in the United States. |
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An Andreessen Horowitz-backed startup wants to shake up crypto index funds with a decentralized Ethereum basket product. By removing centralized control, they aim for better, faster, and cheaper investing. But the tech migration isn't fully done yet.
Legacy systems dominated yesterday - can decentralized innovation own tomorrow? Will they be able to pull off the revolution? Which popular companies are supporting the startup with its vision? Read the full story!
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And that brings us to our Word of the Day! |
Shorting in crypto is a trading strategy that involves borrowing cryptocurrency from a broker or exchange and selling it on the open market with the expectation that the price will fall. To short-sell, a trader must find a broker or exchange offering margin trading and shorting. The trader then borrows the cryptocurrency and immediately sells it on the open market. When the price drops, they buy back the cryptocurrency at a lower price and return it to the lender, keeping the difference as profit.
But how can you short crypto? Read more!
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Now back to our daily stories! |
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ProShares is letting traders bet against Ethereum with a new short ETF. But with ETH over $1,800, the game of speculation has turned into a contact sport.
ProShares warns of risks though emphasizes the benefits too. Ultimately, traders must ask themselves what's behind that ETF ticker: opportunity, or overexposure? Anyway, what's in it for crypto? Fully story here!
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| Cryptocurrency index funds allow investors to gain diversified exposure to the digital asset market at a relatively lower cost. |
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Hong Kong released new guidelines explaining how tokenized securities must follow traditional rules. Strict compliance seems good. But does their descriptive approach leave loopholes? Regulating new tech is never easy. Visionaries see a new world where assets flow freely across screens, borders and blockchains. Hong Kong's prudence reminds us the future arrives 1 step at a time, not in a giant leap.
More on how it intends to protect the citizens!
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The SEC requested information from PayPal regarding its new PYUSD stablecoin. This reflects growing regulatory attention on stablecoins amid rapid innovation. PayPal states it is cooperating fully with the inquiry. Increased oversight may strengthen trust if done collaboratively, but regulator requests often mean someone's in the hot seat.
For now, it remains unclear what specifically prompted the SEC's interest in PYUSD. Hopefully, PayPal's stablecoin plans don't get burned. Read the full story!
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And that's a wrap for today! Check back next week as CoinMarketCap keeps you plugged into the latest crypto events. |
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