Cryptocurrency News Live Updates and Breaking News: (October 17, 2022) The global crypto market registered marginal recovery over the past day. The cumulative market cap now stands at approximately $922.7 billion. However, investors are still trading in doubt about the more-than-expected inflation data.
The new CPI data has led to questions among traders about whether the Federal Reserve’s rate hikes missed a specific action to take.
Cryptocurrency News Live Updates
Bitcoin Block Time Reaches Rare High
The block time at Bitcoin high 759053 – 054 reportedly reached a rare 85 minutes. This has led to huge delays in the transaction. The last time China’s Bitcoin mining ban left the block time of 688436-437 to reach 100 minutes.
Coinbase wants to expand in Europe
Coinbase, the world’s second largest crypto exchange, laid off 20% of its staff in the past year due to emerging macro conditions. However, the exchange is looking forward to expanding its position in the European market. In this pursuit, it hired Daniel Seifert to lead its European expansion plan.
SBF’s FTX Expands in Dubai
FTX chief, SBF, has announced that its crypto exchange has been licensed to operate in Dubai. It is regulated by the VARA. This will increase FTX’s presence in the city. However, it looks forward to working with regulators to protect users and strengthen laws around digital assets.
Pro Terra LUNC shares new revival plan
Edward Kim, a lead developer at Terra Rebels, made a proposal for building the Terra Classic Grants program. This will be done to generate new usability for the Terra Classic chain.
Japan revises crypto trading laws
The Japanese government came to the conclusion to review six laws related to the trading market. This includes exchanging crypto assets and foreign exchange. Now the entities are required to confirm information such as usernames and other information to prevent money laundering
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About the author
Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he’s not writing, he plays video games, watches a thriller, or works out outside. Reach me at [email protected]
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