Crypto News Recap: Bitcoin Tops $62K As Traders Eye ETF Approval

Published October 18th, 2021 - 08:00 GMT
Crypto News Recap: Bitcoin Tops $62K As Traders Eyes ETF Approval
Bitcoin's price is trading $62,367 at the time of writing. Bitcoin’s dominance is at 46.92%, an increase of 0.75% over the past day. (Shutterstock)
Highlights
Here’s all the crypto stories you may have missed over the past week in one link!

Last week was great for the Bitcoin and crypto sphere, we had quite a few bullish news. Bitcoin's price has broken above the $60,000 milestone nearing all time high.

My read of the markets is that it looks like the bulls are in charge of the situation pushing many big steps forward for our industry.

Checking price charts? You know the drill... we got you covered! Here is a brief recap of all major Bitcoin and cryptocurrency news events of the past week.

Bitcoin Chart

Bitcoin's price is trading $62,367 at the time of writing. Bitcoin’s dominance is at 46.92%, an increase of 0.75% over the past day.

The latest price rally was jolted by investors hopes of the possibility of SEC approving the first futures-based bitcoin exchange-traded fund (ETF). This will make it the fourth ETF to get the greenlight EVER as back in February The Canadian Ontario Securities Commission (OSC) announced the approval of three Bitcoin exchange-traded fund (ETF).

Bitcoin

 Crypto Charts

With the latest price rally, cryptocurrencies are mostly trading higher today after a strong week. The global crypto market cap is at $2.50 trillion, increasing 0.94% from yesterday.
While the overall market volume over the last 24 hours is $89.65 billion, up 2.21%.

Crypto
 

CFTC Slaps Tether, Bitfinx with $42.5 million over USDT Backing

The US regulator, The Commodity Futures Trading Commission (CFTC), has simultaneously charged both the crypto exchange Bitfinx and Tether, the firm behind USDT for "untrue or misleading statements and omission of material fact related to its stablecoin, USDT".

The CFTC filing also states that Bitfinex was engaged in "illegal, off-exchange retail commodity transactions" and ordered an additional $1.5 million fine on the crypto exchange.

Both of the sister companies agreed to pay a penalty of $42.5 million to settle the charges.

Steam Bans NFTs, crypto, and blockchain-Based Games

Video game platform, Steam, has announced the ban of the use of non-fungible tokens (NFTs), cryptocurrencies, or other blockchain-based technologies from its platform.

NFTs, crypto, and blockchains use in gaming have been gaining significant popularity this year. 

WBS Dubai Hosts Boxing Match

The World Blockchain Summit in Dubai (WBS) hosted a charity boxing match between top crypto traders and influencers.

The winners of the event were Louis and RookieXBT with the later taking the WBS Crypto Champion belt. The friendly event featured an auction of memorabilia including digital currency assets and nonfungible tokens (NFTs), Cointelegraph reported.

Disclaimer: The Cryptocurrency market is considered highly speculative, risky, and largely unregulated. Anyone mulling investing in it, should be aware there's a risk of losing their entire investment.


© 2000 - 2021 Al Bawaba (www.albawaba.com)

You may also like