In today’s newsletter:
While ether declines, bitcoin rises above $22,000. Check today's cryptocurrency prices.
Fidelity, Charles Schwab, and Citadel Securities To Launch Crypto Exchange.
Indian citizen pleads guilty in first-ever cryptocurrency insider trading case in the US
While ether declines, bitcoin rises above $22,000. Check today's cryptocurrency prices.
The leading cryptocurrency rose to $22,600, marking its highest price since Aug. 19 and representing a 21% gain in seven days.
Bitcoin quickly tumbled below $22,000, dropping about 5.4% in sync with a big drop in U.S. stock futures.
The global crypto market cap today was above the $1 trillion mark, even as it was down over a per cent in the last 24 hours at $1.1 trillion
ETH fell by 1.19 per cent to $1,725 and its market cap decreased by 1.18 per cent to $211.1 billion.
SOL’s price increased by 1.29 per cent to $378.45 while cardano’s price decreased by 2.47 per cent to $0.5012.
Miners Fork the ETH chain to create ETHPOW:
Rather than allowing their business to go to zero, large scale miners have announced their plans to fork the Merge and maintain a proof-of-work version of Ethereum (ETHPOW).
If that happens, you may own a copy of every single existing digital token on the ghost town replica version of the old Ethereum chain.
Some of these tokens might have value, most of them won’t.
If you’re thinking of dumping them for a quick profit, proceed with extreme caution!
This fork, known as EthPoW, isn’t poised to have a serious future right now, but it should grant ETH holders new ETHPOW tokens on a 1:1 basis.
Interacting with ETHPOW can be extremely risky, so this Bankless tactic will give you a checklist you can use to navigate the fork safely.
Goal: Sell your EthPOW for ETH if possible
Skill: Intermediate
Effort: 1 hour
ROI: Potentially growing your ETH stack
Fidelity, Charles Schwab, and Citadel Securities To Launch Crypto Exchange.
Fidelity, Charles Schwab, and Citadel Securities have come together to create EDX Markets (EDXM), a cryptocurrency and bitcoin exchange.
The main motive of this exchange has been importantly mentioned by one of the senior official ie Unlocking this demand requires a platform that can meet the needs of both retail traders and institutional investors with high compliance and security standards.
The exchange plans to eliminate expensive bilateral settlements by netting and settling trades through its blockchain network
To attain its objective, the EDXM will rely on the technology built by The Member Exchange (MEMX), an equity exchange, for scaling its operation to serve retail and institutional investors in several markets. The exchange will also be aided by ventures including Citadel Securities, Paradigm, Sequoia Capital, and Virtu Financial.
Indian citizen pleads guilty in first-ever cryptocurrency insider trading case in the US
A 26-year-old Indian Nikhil Wahi who also happens to be the the brother of a former product manager at Coinbase Global, Inc, admitted guilt in the first-ever insider trading case involving cryptocurrencies in the US, in which he and his brother, and an Indian-American acquaintance made unjustifiable gains totaling more than $1 million.
He’s being charged In relation to a plan to engage in insider trading of cryptocurrencies by utilising secret information from Coinbase regarding which cryptocurrencies were planned to be listed on Coinbase's exchanges.
The maximum term for the offence is 20 years in prison. He is scheduled to be sentenced by Judge Preska on December 13.