From BlackRock making serious moves to FTX getting offers to relaunch the exchange, here is a 3-minute breakdown of everything important that happened in crypto today.
Co-author: Davier M
It's the last week of the Great Uptober! CoinMarketCap here with a bullish bite of news to start your day. With double-digit gains abound, Uptober is finally living up to its name!
But before we dive in, here's a TLDR rundown of today's top stories:
- BlackRock settles SEC charges as crypto community awaits Bitcoin ETF decision
- BlockFi emerges from bankruptcy, announces recovery plan
- Bitcoin funds saw $57m in inflows as ETF excitement grows
- Euroclear launches digital securities issuance and settles €100 million World Bank bond
- Memecoin PEPE burns 6.9t tokens, announces new team of advisors
- FTX in talks with three bidders to relaunch the exchange
Let’s unpack all that!
BlackRock Greases ETF Wheels
In a tactical move, BlackRock agreed to pay a $2.5 million SEC fine related to mislabeled investments. The timing seems strategically aligned with renewed hype around a Bitcoin ETF approval.
Is BlackRock trying to grease the wheels with regulators to finally give the green light to a spot Bitcoin ETF? The cooperative fine may signal that BlackRock is serious about getting an ETF approved sooner than later.
Or perhaps the SEC will continue to play hard to get, dangling the Bitcoin ETF carrot for longer no matter what BlackRock does. With Bitcoin pumping on ETF excitement, BlackRock is no doubt feeling the pressure to launch an ETF product soon.
Could approval be right around the corner? Or will more regulatory hurdles emerge? Read the full story here!
BlockFi Claws Its Way out of Bankruptcy
Either BlockFi has found crypto’s fountain of youth or bankruptcy ain’t what it used to be! The lending platform emerged from bankruptcy at lightspeed, now hungry for funds from shadier collapsed firms. But customers likely won't see assets for a while.
How far can hustler BlockFi climb out of the hole? Track their against-all-odds recovery journey here!
$57M Pours Into BTC
Over $57 million flooded into Bitcoin on Monday as ETF hype intensified. With BTC surging past $34k and BlackRock's ticker sneaking onto exchanges, the writing is on the wall. But the SEC isn’t making it that easy!
But which institutions poured these funds? Read the full story here!
Euroclear Settles Digital Bond
Securities settlement firm Euroclear is clearly trying to shake off its stiff institutional image. It settled a €100 million digital bond for the World Bank using its new D-SI service for tokenized securities. The bold move represents a major milestone on Euroclear's roadmap to becoming a fully DeFi-enabled financial platform.
Who needs dusty old paper bonds when you can settle assets on the blockchain? Follow Euroclear's journey from crypto-curious to crypto-committed here!
Memecoin PEPE Pumps
Pepe coin rallied 50% after burning $5.5 million worth of tokens and adding mystery advisors. With original team holdings now reduced, some wonder if more pumps are coming. But Pepe's shady history makes traders hesitant to buy the pump.
Back in August, former developers dumped tokens and bailed, leaving a bad taste in investors' mouths. With trust still rebuilding, is this latest burn a legitimate strategy by Pepe 2.0? Or just another bait-and-switch?
Some more details about the team’s plan moving forward!
FTX Going for a Relaunch?
Another day, another FTX news. Our roundup seems incomplete without FTX and SBF now…
So, in a recent development, FTX is planning on rising again! Its investment banker revealed that the firm is reviewing bids to reanimate the dead exchange.
But with billions owed, can a relaunch work? Or is the team planning for a bigger and better rug pull? Find out which investors are willing to risk their money to revive the exchange!
That wraps up today's piping-hot crypto news! Check back tomorrow as CoinMarketCap keeps you plugged into the events moving markets.
Before you head out, take a sec to sign up for our newsletter below, and we'll deliver the hottest crypto stories straight to your inbox!
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.
