SEC approves NYSE and Cboe's Bitcoin ETF Do Kwon's extradition is suspended again

Headlines

▌The US SEC approved NYSE and Cboe to launch Bitcoin ETF options trading

The US Securities and Exchange Commission (SEC) approved the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (Cboe) to launch options trading linked to the spot Bitcoin ETF.

▌Montenegro court again suspends extradition of Do Kwon before appeal ruling

The Montenegrin Constitutional Court suspended the extradition of Do Kwon, former founder and CEO of Terraform Labs, on October 18. The day before, the Montenegrin Ministry of Justice said it had made a decision on Kwon's extradition and promised to announce the decision on October 20. But the court said it would suspend extradition proceedings until a decision on Do Kwon's appeal is made.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $68,365.20, with a daily increase or decrease of +1.1%;

ETH's latest transaction price is $2,640.08, with a daily increase or decrease of +0.9%;

BNB's latest transaction price is $599.83, with a daily increase or decrease of +1.0%；

SOL's latest transaction price is 154.71 US dollars, and the intraday increase or decrease is +2.4%；

DOGE's latest transaction price is 0.1402 yuan, and the intraday increase or decrease is +3.8%；

XPR's latest transaction price is 0.5464 US dollars, and the intraday increase or decrease is +0.6%.

Policy

▌Crypto.com sues the U.S. SEC, or weakens its regulatory power over the crypto industry

Crypto.com recently filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), trying to prevent the agency from bringing cryptocurrency secondary market transactions under its jurisdiction. The company hired former U.S. Attorney General Noel Francisco, showing that the case is of vital importance to it. Crypto.com seeks a declaratory judgment through a Texas court, which, if successful, could significantly weaken the SEC's regulatory power over the crypto industry, and the case is expected to become a key point in changing industry regulatory rules.

Blockchain Applications

▌Freedom Factory Launches ethOS Mobile Device for Ethereum Ecosystem

Freedom Factory, the team behind the ethOS operating system, has launched a new mobile device called "dGen1", an on-chain device for interacting with Web3 applications, decentralized financial protocols, and signing transactions on Ethereum. It is reported that the device is built on ethOS (a branch of the Android operating system) and has a built-in web browser, touch screen, audio speakers, and a separate screen for displaying transaction metadata.

▌Magic Eden’s post may hint that it will be integrated into Berachain in the future

On October 19, the NFT trading platform Magic Eden released a picture, adding a bear pattern to its chain selection list, and accompanied it with a bear and chain emoji, which may hint that it will be integrated into Berachain in the future.

▌ZEROBASE raises $5 million to build a privacy-preserving proof network

According to official news, ZEROBASE is a real-time ZK proof network launched by Salus. It has raised $5 million to create a privacy-preserving computing network tailored for ZK use cases.

Cryptocurrency

▌Bitcoin rises close to $70,000, crypto stocks such as Coinbase and Hut 8 surge

Bitcoin performed strongly this week, approaching the $70,000 mark, its best weekly performance in more than a month, up about 9%. As a result, crypto-related stocks such as Coinbase and Hut 8 rose nearly 8% and 15%, respectively, in Friday's trading. Bitcoin miners CleanSpark, Riot Platforms and Bitfarms also gained 7%-10%. Meanwhile, MicroStrategy shares rose more than 11%. As the crypto market rebounds, investors' interest in Bitcoin continues to heat up.

▌Viewpoint: Memecoin will significantly outperform altcoins next year

On October 19, Memecoin KOL Murad posted on social media that the size of new Memecoin is only 1% of the existing altcoins and their unlocked value. By 2025, Memecoin will significantly outperform altcoins.

▌Analyst: The market is waiting for "concrete results" and XRP may face volatility

Bitget chief analyst Ryan Lee said in a report on October 18: "By the end of this year, the price of XRP may fluctuate between $0.50 and $0.80, but this forecast depends largely on regulatory developments and sentiment changes, especially in the US market." He believes that as the market is waiting for more specific results, this hesitation may lead to short-term price fluctuations in XRP.

Important Economic Dynamics

▌Federal Reserve Bank Bostic: US election uncertainty may drag down investment

Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said that the unknowns surrounding the US presidential election may cause some companies and consumers to postpone investment and spending decisions. "You may find that some companies' business activities have stagnated, especially when considering investment," he said at an event with high school students in Jackson, Mississippi on Friday. "The same is true for families. Because inflation has been high, families feel a little bit of a strain," he said. Bostic reiterated that Federal Reserve officials will not adjust their monetary policy approach because of the presidential election.

▌Putin: The time is still not ripe for creating a unified currency for BRICS

Russian President Vladimir Putin met with representatives of mainstream media from his country and BRICS countries such as China, Brazil, Egypt, India, the United Arab Emirates, Saudi Arabia, Ethiopia, and South Africa in Moscow on the 18th local time and answered relevant questions. Putin said that the time is still not ripe for creating a unified currency for BRICS. Before the unified currency is enabled, the economic integration of BRICS countries must reach the necessary high level. He also suggested that BRICS countries use digital currencies in investment. Putin said that currently Russia uses local currency to settle trade with other countries. The proportion has reached 95%. Putin also said that Russia is building a clearing system similar to SWIFT with BRICS countries. Earlier news, Putin said that Russia will provide BRICS partners with the opportunity to use digital currencies in the investment process.

▌ECB Governing Council Member Makhlouf: I don't think the ECB should cut interest rates faster

ECB Governing Council Member Makhlouf said that he doesn't think the ECB should cut interest rates faster; geopolitics is more dangerous than ever in some ways; the impact of geopolitics is beyond the control of the ECB.

▌Analyst: Gold mining stocks have risen 70% this year and are finally starting to outperform gold

Analyst Bob Loukas wrote in X that gold mining stocks have risen 70% this year and are finally starting to outperform gold, just as the bull market is confirmed. However, it is still below the highs of 2020. It will be volatile, but they still have a lot of room.

▌Spot gold breaks through to $2,722/oz, setting a new all-time high

Spot gold continues to rise, refreshing its all-time high to $2,722/oz during the session. (Jinshi)

Golden Encyclopedia

▌What is Proto-Danks Sharding

Sharding is a method of dividing a ledger into smaller parts, called shards. But proto-danksharding is one of the most opaque terms in the vocabulary of the crypto world. The term has no particular guiding meaning. Is proto an abbreviation for prototype? Is this the same dank from your favorite meme folder? Both assumptions may be quite reasonable, but both are wrong. The idea was first proposed by protolambda and Dankrad Feist, who named it after themselves. Proto-danksharding is a transaction type that accepts the above blobs. The solution using blobs aims to overcome Ethereum's long-standing problems of high gas fees and low transaction throughput.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish correct investment concepts and be sure to increase risk awareness.