Digital Coin News

Bitcoin Surges as Court Ruling Clears Way for ETF

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 67 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 61%
  • Publisher: 78%

Cryptocurrency News

Bitcoin,Cryptocurrency,ETF

Bitcoin surges above $31,000 as a U.S. federal appeals court clears the way for the issuance of a cryptocurrency ETF. Declining national fiat currencies and an unstable economy contribute to Bitcoin's all-time high prices in Turkey and Nigeria.

Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was FLOKI, rising 84.97%.

Declining national fiat currencies and a generally unstable economy have helped propel Bitcoin to all-time high prices in Turkey and Nigeria, despite the asset trading 50% below its peak in U.S. dollar terms. Recent price surges have caused Bitcoin to cross price peaks against the Turkish lira and Nigerian naira, according to Bloomberg.Of the cryptocurrencies tracked by CoinMarketCap, the worst performer for the week was Bitcoin SV, down 13.40%.

Bitcoiners might be excited, but Grayscale"s proposal to turn its Bitcoin trust into an ETF still needs a green light from the SEC, and that is not a sure thing. SEC Chair Gary Gensler could still find a second reason to deny the proposal after choosing not to appeal a court ruling striking down his first one, writes Bloomberg.JPMorgan Chase"s digital token, JPM Coin, now handles $1 billion worth of transactions daily and the bank plans to continue widening its usage.

Taiwan has officially proposed a draft crypto act for the first reading. The proposal to regulate crypto assets passed the first reading at the Legislative Yuan. It would require all crypto platforms operating in Taiwan to apply for a permit, writes Bloomberg.Sam Bankman-Fried will take the stand to defend his actions in the lead-up to the collapse of his digital asset empire.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin: Rising spot ETF frenzy affects these areasThe fervor around spot ETFs led to a noteworthy increase in people trying to increase their exposure to Bitcoin through indirect investments.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Crypto Memes Gain Momentum as Bitcoin RalliesCrypto-based memes have gained fresh momentum as Bitcoin rallies, with expectations of SEC authorization for Bitcoin ETFs. Pepe Coin surges 77%.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

GameFi Surges as Binance BNB Chain Takes the LeadOctober marks a pivotal month for the GameFi industry as Binance BNB chain records significant trading volume and market cap growth. Despite the recent downturn, the sector shows signs of resurgence with a $1 billion increase in market cap. However, user count has yet to rebound. Binance leads in active games and trading volume, surpassing $400 million twice in October.
Source: CryptoAmb - 🏆 22. / 68 Read more »

PEPE Surges in Price, Becomes Top MemecoinPEPE, one of the most popular memecoins, has experienced a significant price rally, surpassing other altcoins. Despite a previous rug pull, PEPE continues to surprise investors and gain traction. ChatGPT predicts a promising future for the meme coin. However, the volatile nature of the cryptocurrency market makes it challenging to predict long-term success. Currently, PEPE's price stands at $0.000001202, with a 60% increase in the past week.
Source: CryptoAmb - 🏆 22. / 68 Read more »