I composed the news according to market reach and user or investor impact.Therefore, relevant players like BlackRock as well as the performance of Bitcoin made the news this November. Here follows the 5 pieces of news and announcements headlined November 2023.
BlackRock files for a spot ETF backed by Ether:
BlackRock, the world’s largest asset manager filed for a spot exchange-traded fund (ETF) backed by Ether on November 9, 2023. The filing was submitted by Nasdaq on behalf of BlackRock and it proposes an ETF named the "iShares Ethereum Trust." This decision was propelled by the approval of the first Bitcoin futures ETF in October by the US Securities and Exchange Commission (SEC). The ETF would hold Ether as the underlying asset and track its price. Additionally, Coinbase Global would be the custodian for the fund's Ether holdings.
Bitcoin breaks above $37K again:
Bitcoin has been on a bullish run lately, with the price of Bitcoin (BTC) breaking above $37,000 on Friday, November 10, 2023. Bitcoin has broken above $37,000 again, after a period of consolidation. This pioneer cryptocurrency has been on a rollercoaster ride this year, with prices soaring to an all-time high of over $64,000 in April before crashing to around $30,000 in July. Fast forward to November, the 24-hour trading volume in the crypto market has more than doubled over the past few days, increasing last week from $40.7 billion on Wednesday to a high of $97.9 billion in the early hours of last Friday. The general consensus is that the upswing in momentum is primarily spearheaded by exchange-traded fund (ETF) developments, with BlackRock filing for a spot Ether (ETH) ETF as explained above.
Poloniex was hacked of 114 million USD
As reported by Wall Street Journal, CoinDesk and other popular Crypto websites, the cryptocurrency exchange Poloniex was hacked on November 10, 2023. The hackers targeted the exchange’s hot wallets, resulting in an estimated loss of around $120 million . The hack was confirmed by Poloniex investor Justin Sun, who has offered a white hat bounty of 5% to the hacker and has promised to reimburse affected users on X.com.
Meme coin Shiba climbs 7%
Shiba Inu, a popular meme-inspired cryptocurrency, has surged by 7.4% in the last 24 hours . This rise in value is attributed to the upcoming relaunch of Shibarium, Shiba Inu’s layer-2 scaling solution. The Shiba Inu team has been working on testing its scaling network for the past two days to optimize and enhance Shibarium. The relaunch is expected to happen shortly. To add more hype to the news, former world boxing champion Manny Pacquiao and Shiba Inu (SHIB), announced a collaboration on November 15, 2023. This collaboration is expected to bring increased exposure to SHIB and potentially contribute to further price gains. You can read more on the news by Coindesk here.
Binance announce crypto exchange opening in Thailand
According to a recent announcement by Binance, the company has secured digital asset operator licenses from Thailand’s Ministry of Finance. This will enable Binance and its Thai partner Gulf Innova to launch a new crypto exchange in Thailand by Q4 2023 . The new crypto venture will combine Binance’s digital asset expertise with Gulf’s deep understanding of the Thai market. Binance also made the move because the Thai government has been friendly to the industry, and the country has become a hub for blockchain and cryptocurrency innovation in Southeast Asia.
⚠️ Investing in cryptocurrencies is a high-risk activity and as a user or investor, you should always do your own research beforehand.
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