Crypto Flipsider News – Bitcoin (BTC) Increases Until; GameStop NFT Marketplace; FTX enters UAE; Curryverse Archiving; Coinbase supports Ripple

Read in the summary:

• (BTC) lives up to Uptober, closes first monthly green candles since July

• GameStop (NYSE: ) Launches NFT Marketplace on ImmutableX, Adds Web 3.0 Games

• FTX is starting to offer services in the UAE and will bring institutional investors

• Steph Curry files for the “Curryverse” trademark where players earn NFTs

• Coinbase (NASDAQ: ) joins the SEC case, asking to file an amicus brief

Bitcoin (BTC) Lives Up Until October, Closes First Monthly Green Candles Since July

Historically, October has been a month of uptrends for the crypto market, hence the name Uptober. However, this year seemed a little different with Bitcoin (BTC) and the broader crypto market experiencing one of its biggest declines.

Regardless of the bearish market, Uptober managed to live up to expectations, with Bitcoin closing its first monthly green light since July. Bitcoin opened the month at $19,380 and closed at $20,600 for gains of 6.4%.

October BTC price chart. Source: CoinMarketCap

Despite falling as low as $18,400, Bitcoin surged in the last week of October to a six-week high of $20,988. Bitcoin is currently trading hands at $20,530, keeping the global crypto market cap above $1 trillion.

Flip pages:

• Bitcoin traders are now exercising caution as they await the Fed reserve rate hike, which could reach up to 75bp on November 2.

Why you should care

With October living up to expectations, investors are predicting that the asset will register a similar increase in “Moonvember.”

GameStop Launches NFT Marketplace on ImmutableX, Adds Web 3.0 Gaming

GameStop, the popular video game retailer, has announced that their non-fungible token (NFT) marketplace is now live on the ImmutableX blockchain, aiming to attract some new customers to the NFT space.

The retailer has been building its marketplace since February with ImmutableX, a Layer-2 scaling network. According to GameStop, the marketplace will offer completely gas-free and carbon-neutral NFT mining and trading.

The GameStop marketplace offers rewards for staking Immutables IMX tokens and gives users 1% of their daily trading volume. GameStop has set the marketplace fee at just 0.2% for an unspecified duration.

The launch means that tokenized tradable items in all Web 3.0 games on the ImmutableX chain can now be bought and sold on the GameStop marketplace, including Gods Unchained, Illuvium, and Guild of Guardians.

Flip pages:

• Despite first opening its marketplace for digital artwork and collectibles in July, GameStop has recorded just $29 million in sales.

Why you should care

With the expansion, GameStop seeks to unlock access to Web 3.0 games and millions of world-class NFT gaming assets for players.

FTX is starting to offer services in the UAE and will bring institutional investors

Two weeks after FTX announced it was “in talks” with onboarding UAE-based institutional investors, the crypto exchange has officially launched its crypto services in the UAE.

FTX MENA, announced on Monday, October 31, will now offer its services to cryptocurrency enthusiasts in the UAE, a nation that is adopting blockchain technology to become a crypto hub.

The announcement follows the Virtual Asset Regulatory Authority (VARA) FTX received as the first regulated cryptocurrency exchange operating in the region. FTX currently offers spot trading for over 250 plus cryptos and 300 market pairs.

The chairman of FTX MENA, Mohammad Hans Dastmaltchi, announced that the exchange will focus on institutional investors and has received proposals from companies in the airline, hospitality, finance and real estate industries, among many others.”

Flip pages:

• Not content with limiting its expansion to the United Arab Emirates, FTX is reportedly working to expand its reach across the Middle East.

Why you should care

FTX joins Binance, Kraken and Crypto.com in offering crypto services in the UAE as the nation strives to become a global crypto hub.

Steph Curry files for the “Curryverse” trademark, where players earn NFTs

National Basketball Association (NBA) star Stephen ‘Steph’ Curry has filed a trademark for the “Curryverse,” a virtual world where players will earn non-fungible tokens (NFTs), as reported by trademark attorney Josh Gerben.

The Curryverse was filed by the US Patent and Trademark Office on October 26 and covers a variety of services related to Web 3.0. According to the filing, Curryverse will include online gaming services in the form of virtual worlds.

According to the filings, Curryverse will also include “entertainment services, namely in-person and virtual and metaverse performances.” Curry will also offer virtual clothing, footwear, belts, headwear, bags, watches, artwork and other items in the metaverse.

Curryverse will also feature downloaded and registered items authenticated by non-fungible tokens (NFT). Curry has been big on NFTs, purchasing a Bored Ape Yacht Club NFT in August 2021 and launching his own collection a few months later.

Flip pages:

• Steph Curry’s teammate recently merged with the Binance NFT marketplace to launch Klay Thompson Grails’ NFT collection

Why you should care

Curry, who is known as a crypto-friendly NBA star, wants to use his patent to provide entertainment and education using blockchain technology.

Coinbase Stands With Ripple in SEC Case, Asks to File an Amicus (NASDAQ: ) Brief

US-based cryptocurrency exchange Coinbase has become the latest organization to show support for Ripple in its ongoing case with the SEC, where the company was accused of offering XRP as an unregistered security.

Coinbase’s general counsel, Paul Grewal, announced on October 31 that the exchange had requested permission from Judge Torres and the federal court to file an amicus brief (friend of the court) in the ongoing lawsuit.

According to Coinbase’s request, the SEC has failed to keep pace with the fast-moving crypto industry and also in creating a regulatory framework. Coinbase also argues that the SEC has been inconsistent in its enforcement, creating “uncertainty” for companies.

The tide continues to favor Ripple Labs, which recently received the Hinman documents. Here, the former SEC chief noted that cryptos like Bitcoin and Ethereum were “sufficiently decentralized” and therefore not securities.

Flip pages:

• Ripple CEO Brad Garlinghouse has taken a swipe at Coinbase founder and CEO Brian Armstrong over his hypocritical anti-tribalism campaign.

Why you should care

Ripple is now in a good position to win its SEC case, receiving the Hinman documents and support from top organizations.

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