The first cryptocurrency settled at about $37,000, Binance introduced its own Web3 wallet, a court in the Russian Federation fined Coinbase and other events of the past week.
Bitcoin approaches $38,000
This week, the quotes of the first cryptocurrency once again confidently rose above $35,000, and on Thursday, November 9, they approached $38,000.
On Binance, the rate immediately reached $37,972.
BTC/USDT hourly chart of Binance exchange. Data: TradingView.
At the end of the week, Bitcoin consolidated above $37,000, and Ethereum above $2,000..
All digital assets from the top 10 by capitalization finished the week in the “green zone”. The biggest gainers were Solana (+44.3%), Cardano (+14.7%) and Dogecoin (+12.8%).
Data: CoinGecko.
The total capitalization of the cryptocurrency market reached $1.47 trillion. Bitcoin dominance index – 49.3%.
Binance launched its own crypto wallet
Cryptocurrency exchange Binance announced the launch of a Web3 wallet, which is available to users through the platform’s mobile application.
The utility runs in the main Binance trading application and uses multi-party computing (MPC) technology that splits private keys into three parts and stores them on different servers.
Two of them are tied to the user account, and the third is under the control of the exchange. This encryption method reduces the risk of “wallet compromise and reduces system vulnerability,” the announcement says.
Binance clarified that the application is not available for users from the United States.
The documentation states that the terms of use of the wallet are “governed by and construed in accordance with the laws of Hong Kong.”. At the same time, the company complies with anti-money laundering laws and therefore intends to monitor transactions for terrorist financing, sanctions evasion and suspicious activity, blocking unwanted transfers.
Trust Wallet launched Wallet as a Service and named Binance as its first client
Binance-owned non-custodial wallet Trust Wallet has introduced Wallet-as-a-Service (WaaS), which allows enterprise clients to run decentralized applications based on the project's stack.
“WaaS is intended for a wide range of users, from Web3 users and centralized crypto exchanges to startups and traditional enterprises looking to expand their offerings with blockchain solutions,” the team explained.
The benefits of using the service include faster product deployment and simplified technology adoption with improved navigation and security.
Project representatives cited the Binance wallet as an example of WaaS implementation.
What to discuss with friends?
Arthur Hayes saw a threat in institutional interest in Bitcoin. Durov will distribute premium Telegram accounts purchased for TON. The expert announced the transition of Bitcoin from accumulation to a bull market. The head of the SEC supported the restart of FTX “within the limits of the law”.
The Russian Federation has developed a technology for cashing digital rubles
VTB presented a technology for withdrawing digital rubles through ATMs, the bank’s press service reported.
VTB Online users participating in the Russian CBDC pilot will be the first to try out the new feature.
You can get money from any of the bank's 14,000 ATMs throughout the country.
To do this, the client needs to point the smartphone camera at the QR code of the ATM. In the VTB Online application that opens, you need to select a digital ruble account as the source of debiting funds.
Report: Ukraine lost $52 billion due to the “gray” Bitcoin market
Due to the lack of regulation of the cryptocurrency market, Ukraine lost more than $52.8 billion from 2016 to 2022. This is stated in a study by the Ukraine Economic Outlook analytical group.
Experts have calculated the potential profit for the population from investing in cryptocurrency, the income of mining farms and the issue of stablecoins within the country.
According to their estimates, $48.8 billion of losses came from direct income of the population and companies (GDP), and $4 billion was lost tax revenue.
Deputy Head of the Ministry of Digital Development Alexander Bornyakov responded to the publication, stating the importance of regulating the crypto market.
“Large capital remains where transparent regulatory rules are established, government mechanisms for protecting property rights and stimulating tax rates work effectively,” he wrote.
Nasdaq Confirms BlackRock's Application to Launch a Spot Ethereum ETF
BlackRock's registration proposal for the launch of the iShares Ethereum Trust, a spot ETF based on the second-largest cryptocurrency by capitalization, was confirmed by Nasdaq. The exchange filed a corresponding application with the SEC on behalf of the investment giant.
If approved, the product will be listed on the platform.
According to the document, Coinbase will act as the custodian of the ETF.. The company is also named in a joint surveillance agreement to prevent fraud and market manipulation.
A day earlier, the proposal from BlackRock appeared on the website of the Delaware Department of Corporations. The publication caused a pump in Ethereum.
Also on ForkLog:
CoinGecko ranked miners by bitcoin volume. A messenger app from Binance has appeared in the App Store. CZ stated that it is for testing. The head of the Central Bank of the Russian Federation supported cross-border Bitcoin payments. OpenSea's valuation drops to $1.4 billion. Troubles in the NFT market.
Sale of FTX trusts by Grayscale, Binance reserves and other crypto industry events
Bitcoin exchange Coinbase fined in Russia
A court in Moscow fined the cryptocurrency exchange Coinbase 1 million rubles for refusing to localize the data of Russians.
The platform was found guilty of an offense under. 8th century. 13.11 of the Code of Administrative Offenses of the Russian Federation (failure by the operator, when collecting personal data, to ensure recording, systematization, accumulation, storage of data of citizens of the Russian Federation).
Coinbase received a minimal fine under this article – its amount could be up to 6 million rubles.
What else to read?
This week, blockchain lawyer Eliza-Tatyana Vasilyeva shared her experience of building a career in the industry as part of the “Who to Become” section.
What is a Layer 3 solution?
In our traditional digest, we have collected the main events of the week in the field of cybersecurity.
The cryptocurrency industry is attracting an increasing number of institutional players. The most important news about investments in recent weeks is in the ForkLog review.