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Peter Davis

An writer at FOMOdrive

  • Oct 30, 2023
  • 3 min read

Bitcoin (BTC): Best Week Since March

Bitcoin had its most successful week since March, increasing by over 15%.

The US has demanded that the crypto industry implement restrictions in order to combat terrorism.

The Dencun hard fork, which was planned to take place in 2021, has been postponed by the Ethereum team until 2024.

The fortune of the CEO of Binance has decreased by 82%.

Users of the Trezor wallet have been cautioned to be aware of potential phishing attempts.

BTC had its most successful week since March, when it experienced a surge during the US banking crisis. Now, it is increasing in value due to speculation that the approval of spot Bitcoin ETFs in the US is imminent.

Anthony Pompliano, founder of Morgan Creek Digital, has declared Bitcoin to be a one-of-a-kind asset that surpasses other cryptocurrencies and even traditional financial institutions. He has stated that "Bitcoin is the most disciplined central bank in the world."

Ricardo Salinas Pliego, a Mexican billionaire, declared Bitcoin to be an alternative to the banking sector, which cannot be taken away by any government. In 2020, he revealed that he had invested up to 10% of his wealth in BTC.

CCData reported that in October, the total assets under management (AUM) for investment products based on digital assets increased by 6.74%, reaching $31.7 billion. Additionally, the AUM of Bitcoin funds rose by 11.1%, amounting to $23.2 billion. This means that instruments based on the first cryptocurrency now make up 73.3% of the market, compared to 70.5% the previous month.

The US Department of Justice has been asked by two Republican congressmen to launch a criminal investigation into Binance and Tether, due to their potential involvement in aiding terrorism which is "currently targeting Israel".

The US Treasury Department has alleged that some cryptocurrency companies are not adequately prepared to help law enforcement in their efforts to combat the financing of terrorism and money laundering through digital assets.

By the end of 2025, Spain intends to double the implementation of the Cryptocurrency Regulation Act (MiCA) and fully implement it in the country.

Due to disagreements between the designers of the consensus and execution level clients, the Ethereum development team has decided to delay the launch of the Dencun security update until next year.

Bloomberg reported that the wealth of Binance crypto exchange CEO Changpeng Zhao has plummeted 82% from its peak of $96.6 billion in January 2022 to $17.3 billion today.

Reports of phishing emails targeting users of Trezor hardware crypto wallets have surfaced online. It is unclear if the data leak is the result of the wallet manufacturer or the British delivery company Evri.

Offchain Labs, the company behind the Arbitrum L2 protocol, has made the Orbit software stack available to the public, allowing users to create layer 3 blockchains on the main network.

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