1. Aptos blockchain off to a rocky start
📰 Aptos, the much-anticipated blockchain built by ex-Facebook employees debuted on 17th Oct (Monday).
📰 Its crypto network which boasted a potential transaction count 100,000 had only achieved four per second initially.
📰 Its token ($APT) dropped by 50% in its first 24 hours of trading. The project, which was valued at $2 billion in prelaunch private investment rounds, has a $975 million market cap as of this writing.
https://www.coindesk.com/layer2/2022/10/20/in-defense-of-aptos-cryptos-punchline-this-week/
2. Hong Kong wants to legalize crypto trading
📰 Hong Kong’s securities regulator wants to allow retail investors to invest directly in virtual assets and to reconsider current crypto trading requirements.
📰 Such an initiative would mark a significant shift from the SFC’s stance over the past four years, which restricts crypto trading on centralized exchanges to professional investors.
https://cointelegraph.com/news/not-like-china-hong-kong-reportedly-wants-to-legalize-crypto-trading
3. $4.5 Trillion asset manager Fidelity to offer Ethereum trading for institutions
📰 Fidelity will officially make Ethereum trading available to its customers on October 28.
📰 The offering will only be available for Fidelity’s existing institutional clients who already trade or custody Bitcoin, which the firm provided services for since 2018.
https://decrypt.co/112499/fidelity-ethereum-trading-institutions
4. Europe’s $9 billion digital bank N26 launches crypto trading service amid bear market
📰 N26 Crypto will let users buy and sell 100 tokens including Bitcoin and Ethereum.
📰 The feature is first launching in Austria, but N26 plans to expand it to other markets in the next six months.
📰 An N26 executive said that the interest among their users for cryptocurrencies “remains super high, even in a bear market.”
5. Web3 developers still building despite crypto winter
📰 According to Jason Shah, a product manager at Web3 development company Alchemy Web3 development activity is at an all-time high, with large internet players such as Facebook, Adobe and Stripe making moves into the space.
📰 Even though Ethereum prices plunged more than 60% this year, the use of smart contracts on Ethereum has increased by 40%.
https://www.coindesk.com/tech/2022/10/21/web3-developers-still-building-despite-crypto-winter/
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