Plus, Bitcoin has once again nudged all-time highs, Beeple has sold another piece of art for big bucks, and Q3 was a quarter to forget for Coinbase.
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Bitcoin hits new all-time high 🚀
After a sharp pullback from $68,500 yesterday, BTC roared back with a vengeance on Wednesday. A 40-minute dash from $66,000 to a record price of $68,789 came after grim inflation data emerged in the U.S. Analysts had expected the Consumer Price Index to rise 5.8% year on year in October — but the actual figure came in at 6.2%. This sobering statistic means that America is now dealing with its highest inflation rate since 1990. Find out why this caused Bitcoin to surge.
Beeple sells new artwork for $29m! 🤑
He's done it again. Seven months after breaking records by selling a non-fungible token for $69.3 million, Beeple's latest creation has gone under the hammer for $29 million. HUMAN ONE is a dramatic 3D sculpture made from mahogany and polished aluminum. Dubbed "the first human to be born in the metaverse," a person wearing a space helmet explores a series of dystopian landscapes. These images are accessed through the Ethereum blockchain. Here's why it's so special.
Apple's CEO reveals he owns crypto 🍎
Tim Cook has revealed that he owns cryptocurrencies. Although this is bullish news in itself, the CEO says Apple will not be investing in Bitcoin — and has no plans to start accepting cryptocurrencies as a payment method. Speaking to The New York Times DealBook Online Summit, Cook said: "It's reasonable to own it as part of a diversified portfolio. I've been researching it for a while and I think it's interesting." He wouldn't reveal which coins he has in his wallet. Check out our story.
Robinhood won't be listing SHIB soon ❌
Bad news for Robinhood users who want to buy SHIBA INU. The trading platform has suggested it isn't in a rush to list the meme coin. That's despite more than 525,000 people signing a petition urging the company to do so. Whereas Coinbase's strategy is to list "every asset where it is legal to do so," Robinhood is different. Chief operating officer Christine Brown told a Decrypt event: "We think that the short-term gain we might get is not worth the long-term trade off for our users." Read more.
No digital pound in U.K. before 2025 💷
The Bank of England has confirmed it is looking into launching a central bank digital currency — but says any digital pound won't emerge until 2025 at the earliest. That means the U.K. is some way behind the likes of China, which is currently putting the finishing touches to the digital yuan. A consultation phase means the crypto community has the chance to have its voice heard. "I'd encourage everyone to contribute to the discussion," an official said. Learn more.
Coinbase misses revenue targets by 25% 😱
Shares in Coinbase tumbled in after-hours trading on Tuesday after the company posted net revenues of $1.24 billion for the third quarter — a long way off the $1.61 billion analysts had been expecting. "Softer crypto market conditions, driven by low volatility and declining asset prices" were blamed for the disappointing results. However, the exchange stressed conditions have improved in Q4, indicating its performance will be healthier when results are released in three months. The figures.