Cryptocurrency news and weekly price close for October 21, 2022
Cryptocurrency prices rose on Friday afternoon to end sideways in what was a good week for stocks and another volatile week for digital assets. And as always, it was another eventful week for crypto news. From Warner Bros. which releases NFT movies to Mastercard bringing crypto to banks. Stir in the latest SEC probes, Jack Dorsey’s new decentralized social protocol, Fidelity’s Ethereum offering, and Tesla’s Bitcoin holdings, and you’ve got quite the crypto cocktail. Here are the top crypto headlines of the week.
Also, be sure to check out this week’s coverage of cryptocurrency ETFs like BITQ, BLOK, and BITS.
Click here for the latest cryptocurrency prices and news. And if you’re new to the world of Bitcoin, Ethereum, blockchain and more, head over to our What Is Cryptocurrency page.
Cryptocurrency News: Price Action
Bitcoin is hovering around $19,200 Friday night after falling below $18,700 before the market opened. Meanwhile, Ethereum regained its $1,300 level after falling to $1,254. Both were essentially unchanged during the week.
Ethereum’s price has been falling since mid-September after merging into a proof-of-stake network that was supposed to make the system faster and much more energy efficient.
Cryptocurrency Prices Heatmap:
Digital asset investments are extremely volatile. While cryptocurrency fundamentals and technical indicators may vary, investors should focus on the same main objectives. First, stay protected by learning when it’s time to sell, cut losses, or take profits. Second, prepare to make money if the cryptocurrency starts to pick up again.
Despite their original promise, cryptocurrencies have not acted as a hedge against inflation. Instead, they have trended with the broader indices. Read The Big Picture and Market Pulse to track daily market trends.
See IBD’s best cryptocurrencies and crypto stocks to buy and watch the site to help you navigate the world of digital asset investing.
Want a deeper dive into crypto? Check out what is cryptocurrency? explanation page.
Core Scientific Sues Celsius Network
Bitcoin miner Nuclear science (CORZ) is suing crypto lender Celsius Network for failing to repay the roughly $5.4 million it owes since filing for bankruptcy in July, the Wall Street Journal reported. CORZ stock tumbled this year, falling to $1 from $10 a share as crypto markets suffered heavy losses.
Interpol prepares the police for the Metaverse
Global police organization Interpol unveiled its metaverse platform specifically designed for law enforcement around the world. Interpol Metaverse is fully operational and allows users to interact and collaborate with other offices and take courses in forensic investigations and other police activities. Interpol says the list of possible crimes will only expand as the number of metaverse users grows.
The Best Stablecoin Matches Outside the US
Coin base (COIN) says stablecoin USD Coin (USDC), the fourth largest cryptocurrency by market capitalization, is mostly bought in America. Currently, three times more USDC is purchased with US dollars compared to non-US currencies. International users typically have to pay a fee to convert their local currency to USDC, creating a barrier to global adoption.
Young investors are turning to crypto
A massive $84 trillion in private wealth will descend on Gen X and millennials by 2045, but generational differences in how people view money have never been stronger as young investors turn to crypto, according to a Bank of America (BAC) study.
Tesla Bitcoin Holdings
Tesla ( TSLA ) still has $218 million in Bitcoin as of Q3, according to Wednesday’s earnings report, relatively unchanged from the end of the second quarter, when Elon Musk’s car company sold more than 80% of the digital assets on its balance sheet.
Warner Bros. NFT films
Warner Bros. (WBD) Launches NFT Movies and Brings ‘The Lord of the Rings’ to the Blockchain.
Bloomberg Terminal Of Crypto
In other cryptocurrency news, Dash 2 Trade aims to be the Bloomberg terminal for digital assets without an expensive monthly subscription. The crypto-analytics and intelligence platform aims to raise $40 million through the pre-sale of the D2T token. It sold more than $300,000 in the first 24 hours of its pre-sale launch.
Fidelity’s Ethereum Offering
Fidelity Digital Assets will allow its institutional clients to buy, sell and transfer Ethereum starting October 28, The Block reported.
Jack Dorsey’s new decentralized social network
Jack Dorsey, Block (SQ) managing director and earlier Twitter (TWTR) CEO, is launching a decentralized social protocol through its Bluesky project.
a16z cuts down on startup
Andreessen Horowitz plans to focus on lobbying and restart its accelerator program, general partner Chris Dixon told TechCrunch disrupt. Meanwhile, the firm has scaled back investments in crypto startups over the past two quarters despite a new $4.5 billion fund.
New crypto launch Falls Flat
Aptos Blockchain, which raised $200 million from the likes of Binance and Andreessen Horowitz (a16z), launched its mainnet on Tuesday night. The APT cryptocurrency initially traded around $13.73 after going live, but fell more than 42% to below $8 early Wednesday.
Bitcoin mining stalls
CryptoFact: It took more than an hour to mine a single Bitcoin block on Monday, leaving more than 13,000 transactions in limbo.
Cryptocurrency News: FTX Probe
FTX US and CEO Sam Bankman-Fried are facing investigations by Texas regulators for potentially offering unregistered securities.
Walmart and crypto
In an interview with Yahoo! Finance, Walmart (WMT) CTO Suresh Kumar said crypto will become an important part of retail transactions and disrupt how people discover products.
SEC probes 3AC
Bankrupt hedge fund Three Arrows Capital (3AC) is facing investigations by the SEC and CFTC for potentially misleading investors about the strength of its balance sheet, Bloomberg reported.
Mastercard brings crypto to banks
MasterCard (MA) launched a new Crypto Source program, which enables financial institutions to add cryptocurrency trading offerings and services.
Coinbase CEO Sells Shares
Coin base (COIN) CEO Brian Armstrong announced that he will sell 2% of COIN stock to fund scientific research to extend human life.
The Lazarus Group strikes again
Lazarus, the state-backed North Korean hacking group, successfully targeted Japanese crypto companies with phishing emails, according to reports from Japan News.
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