Binance's CZ Denied Permission to Travel by U.S. Judge for the Second Time

Zhao has requested permission to travel to the UAE, where his three children reside.

A federal judge on Friday again denied Binance founder Changpeng "CZ" Zhao's request for permission to travel abroad as he awaits sentencing for criminal charges in the U.S.

The ruling by Judge Richard Jones of the U.S. District Court for the Western District of Washington marks the second time Zhao has been forbidden from traveling abroad after prosecutors argued that the former Binance executive was a flight risk.

The sealed ruling, filed on Friday, did not disclose in detail Zhao's argument against the court's repeated efforts to block his return to the UAE, where his three children and their mother reside. The former Binance CEO pleaded guilty to one charge of violating the Bank Secrecy Act last month and was released on a $175 million personal recognizance bond, in addition to other financial conditions.

$BTCBitcoin Price Analysis:
The Daily Chart,📢📢📢📢

The daily chart shows that the price has broken past the $37,500 and $40K resistance levels since the beginning of November. However, it seems that the market is slowing down, as the price has been acting bearish since the start of this week.

The $40K level is currently being tested, and a breakdown would lead to a potential drop toward the $37,500 area and even the distant 200-day moving average, located around the $31K mark. The Relative Strength Index has also demonstrated a clear bearish signal by dropping below the overbought region.

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Nevertheless, BTC’s price has started to recover in the past few hours and it’s interesting to see how far this recovery can go.

XRP Would Be a Top Performer in the Next Bull Cycle: Ben Armstrong

Ben Armstrong, a renowned cryptocurrency influencer, believes XRP would be among the top performers in the next bull cycle, considering the token’s properties, the power of its community, and its tendency to attract developers and investors.

The blockchain analyst started by debunking rumors that XRP is centralized. Citing the XRPL, the community-based blockchain protocol behind XRP, Armstrong noted that it is a blockchain that is permissionless and as decentralized as most other layer-1 networks that it is competing against.

In a recently uploaded video, the crypto influencer explained that the most crucial part of the XRPL is the native token, XRP. According to Armstrong, the XRP token separates XRPL from other layer-1 protocols and smart contracts. 

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$XRP $

In the last 24 hours, bearish momentum in the Jito (JTO) market was strong, with prices sliding from the day’s start of $3.0827 to a low of $2.82 before regaining support. The downward movement of this JTO was principally caused by a drop in buying pressure and an increase in selling volume. However, the market mood has flipped in the last few hours, with bulls surging to an intra-day high of $3.66 before marginally retreating.

Despite the retreat, the market remains cautiously optimistic about JTO’s prospects, with bulls in control as of press time and trading at $3.11, up 2.92% from the intraday low. During the rally, JTO’s market capitalization, according to CoinStats, climbed by 3.38% to $360,023,116, reflecting the increasing investor confidence in the uptrend.

Binance liquidity aggregator Orion announces release of repeater Scorpio in Ethscriptions ecosystem.

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Binance liquidity aggregator Orion has announced the release of Scorpio, a repeater in the Ethscriptions ecosystem, to bring traditional Ether ecosystem Dapp applications into the Ether Inscription system by bridging dumb and smart contracts, and the team is planning to introduce Arithmetic Stabilization, Liquidity Pledges, Cross-Chain Bridges, and a variety of other products to Ethscriptions in the future.
Scorpio has already released the Ethscriptions inscription token scop, which is now 100% minted, and the official use of scop as the only pass for the inscription ecosystem.

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European Commission: final agreement reached on regulation introducing a European digital identity wallet, pending formal approval.

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The European Parliament and the Council have reached a final agreement in tripartite talks on the introduction of a European digital identity wallet regulation, pending formal approval by the European Parliament and the Council, the European Commission said in a press release. This is the first trusted and secure digital identity framework for all Europeans, supporting access to public and private online services and protecting personal data in full security.
In addition to public services, large online platforms designated under the Digital Services Act (including services such as Amazon, Booking.com or Facebook), as well as private services that are legally required to authenticate their users, will also be required to accept the EU Digital Identity Wallet to log in to their online services. In addition to securely storing digital identities, the wallet allows users to open bank accounts, make payments and hold digital documents, such as mobile driver's licenses, medical prescriptions, professional certificates or travel tickets.

ETFStore President: Shrinking Grayscale Discount Ratio Signals Market Expectations for Spot Ether ETFs

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As of Nov. 10, Grayscale's discount on its Ether ETFs has shrunk to 13.94%, according to Coinglass. That's a huge turnaround for an asset that was at a 60% discount earlier this year.
According to Nate Geraci, President of ETFStore, the shrinking discount bodes well for the market's expectations for spot ethereum ETFs. A shrinking discount is a real-time indicator similar to a "real-time betting line". As such, it predicts the likelihood of ETF approval.

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Today's Bitcoin Ordinals Inscription Transaction Fee Exceeds 14 BTC, Highest Single-Day Record in Past Five Months.

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According to the latest data from Dune Analytics, today's Bitcoin Ordinals inscription transaction fees reached about 14.16 BTC, which is about $500,000 at the current price, setting a record for the highest single-day transaction fees since May 30 (when Ordinals transaction fees were about 19.83 BTC).

Bitcoin Price Could Reach $45,000 to $50,000 Before Halving.

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Michaël Poppe, founder and CEO of trading firm Eight, said that the recent growth of Bitcoin in the bull market has been due to a number of reasons, including ETF approval speculation. Bitcoin crossed $30,000, which is a phenomenal growth, and he further added that as long as the price of Bitcoin stays above $30,000, the bull market in cryptocurrencies will come soon. Moreover, he said that if Bitcoin continues to grow in the cryptocurrency market, then there is a possibility of the price reaching $45,000-$50,000 before halving.

Dogecoin Sweepstakes Case Heads to the Supreme Court ⚖️

The U.S. Supreme Court has announced that it will be hearing a lawsuit which has accused crypto exchange Coinbase of misleading users about requirements to enter its 2021 "Trade Doge, Win Doge" promotion. Notably, the Supreme Court hearing follows a federal judge’s denial of Coinbase's motion to force the Dogecoin sweepstakes lawsuit into settlement via arbitration in Dec 2022.

Specifically, the Dogecoin sweepstakes lawsuit, led by plaintiff David Suski, argues that Coinbase violated California’s false advertising and unfair competition laws by deliberately concealing a free mail-in entry option to drive trading volume and liquidity for its new Dogecoin listing.

Source

New update📢📢📢

OpenSea Lays Off 50% Of Staff With Severance In Preparation For Version 2.0 Launch 🪓

NFT marketplace giant OpenSea is reportedly laying off around 50% of its employees. According to a recent X post by Devin Finzer, the co-founder and CEO of OpenSea, the move seems to be in preparation for the launch of ‘OpenSea 2.0’, which is reportedly a “more nimble — and ultimately better — version of OpenSea.” According to a spokesperson for OpenSea, all affected employees would receive four-month severance packages, accelerated equity vesting and six months of continued healthcare and mental healthcare.

📣📣 MARKET MOVING NEWS!

1️⃣ BitGo and Copper Combine Crypto Custody Settlement Networks 🤝

Crypto custody firms BitGo and Copper are reportedly combining their respective in-custody settlement networks to give their users access to a wider range of trading platforms. Specifically, users of these custodians will now gain access to exchanges such as Bybit, OKX, Powertrade, Bitget, Gate.io, Deribit, BIT, Bitfinex, and Bitstamp.

Matthew Ballensweig, who leads BitGo’s Go Network, stated,

“We asked the question: do we want to win versus traditional finance? Can the crypto guys band together to create a true institutional-grade product that has real market scale, as opposed to waiting for Goldman or Fidelity to build out the custody and connectivity infrastructure for the next wave of capital waiting to come into this space.”

Source

Breaking New 📢📢📢📢

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ARK Invest and 21Shares Multiple Bitcoin-Related ETFs Get CUSIP Codes

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ARK Invest's partnership with 21Shares for several bitcoin-related ETFs (ARKA, ARKC, ARKD) has received a CUSIP code, according to the DTCC database.
ARKA will invest in cash-settled bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME), and may also hold U.S. Treasuries, money market instruments and repurchase agreements, according to an Aug. 11 filing with the SEC. ARKC will invest at least 25% of its funds in bitcoin futures contracts (ARKA) and the rest of its assets in cash and cash equivalents, unlike ARKA, which uses proprietary trend indicators to develop its allocation strategy.ARKD will be allocated to either bitcoin futures contracts or ARKA, as well as to stocks of companies in the blockchain, digital asset, and fintech industries.
Note: CUSIP stands for "Committee on Uniform Security Identification Procedures," and the CUSIP system is owned by the American Bankers Association, operated by The CUSIP system is owned by the American Bankers Association and operated by Standard & Poor's. CUSIP was created to give every security in North America a unique code.

Theme: BlackRock's Spot Bitcoin ETF Relisted on DTCC

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BlackRock's spot bitcoin ETF, the "iShares Spot Bitcoin ETF" (ticker: IBTC) has been relisted on the DTCC (Depository Trust & Clearing Corporation) website.
IBTC was removed from the website earlier in the day and DTCC was briefly down.

Bitcoin to Rise to $135,000: 'Rich Dad Poor Dad' Author

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Robert Kiyosaki, author of Rich Dad Poor Dad, posted to share his expectations for the future prices of gold, silver, and bitcoin.Kiyosaki writes that gold will soon top $2,100, and he expects the price of silver to rise from $23 to $68 per ounce. Bitcoin's next target is $135,000.
Last month, Kiyosaki said he expects bitcoin to "become priceless" when the Federal Reserve launches its central bank digital currency (CBDC). He also advised investors to buy bitcoin today and predicted a surge in demand for the cryptocurrency as the stock, bond and real estate markets collapse.

Theme: Cryptocurrency trading volume picks up as Bitcoin remains close to the $30,000 price threshold.

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Data from The Block's data dashboard suggests that cryptocurrency trading volumes have picked up as Bitcoin remains close to the $30,000 price threshold. The 7-day moving average of daily trading volume across the industry's spot platform has been trending higher, increasing from $9.38 billion on September 26th to over $15 billion on October 20th.
To be sure, spot trading volume in the asset class is now at an all-time low. Trading volume on cryptocurrency exchanges was just $311 billion last month, the lowest level since 2020, according to The Block's data dashboard

XRP Lawyer: Lightning Network Not as Good as 'Spend The Bits' Protocol on XRP Ledge.

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John Deaton, an attorney and cryptocurrency advocate for XRP backers, has lashed out at the Lightning Network, calling it inferior to the "Spend The Bits" protocol on the XRP Ledger (XRPL). On Saturday, John Deaton announced his preference via Twitter, announcing that he was participating in Spend the Bits as an angel investor and serving as chief legal officer. This isn't the first time Deaton has publicly endorsed "Spend The Bits" as an alternative to the lightning network widely recognized on the Bitcoin blockchain. Earlier last month, pro-Ripple lawyers endorsed the protocol, describing it as "a better, faster, and more secure way to spend bitcoin than using the Lightning Network."

SEC Drops Charges Against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen.

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The U.S. Securities and Exchange Commission (SEC) dropped charges against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen, according to a public legal filing.
The SEC and Ripple will continue to discuss the remaining portion of the case, and the parties intend to meet and agree on a possible briefing schedule, which could be completed by November 9, 2023, on the outstanding issues in the case (in response to Ripple's institutional sales of XRP in violation of Section 5), the filing said.
Ripple announced that this is the third victory for Garlinghouse, Larsen and Ripple following the July 2023 court decision declaring that "XRP is not a security per se" and the denial of the SEC's request for an interlocutory appeal in October.
#xrp #xrp

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A U.S. federal court is poised to formally declare Grayscale's victory over the U.S. Securities and Exchange Commission (SEC) in a dispute over spot bitcoin ETF filings, according to Coindesk. A person familiar with the matter said that the court's final action could be made on the day of the deadline on Friday, local time, but it could also be made on the following Monday due to the midnight deadline.
There are several possibilities for the court's next move: it could terminate the case without comment, or it could issue further instructions to the SEC on what to do next.
The industry widely expects the SEC to allow the new ETF, but the exact timing is uncertain. If approved, Grayscale will convert its GBTC to an ETF. the company plans to list on NYSE Arca, at which point the ETF will be widely available to investors.

JUST IN: SEC drops lawsuit against

Ripple XRP executives.

The @SECGov's case against Ripple's @bgarlinghouse and @chrislarsensf has been DISMISSED after both parties agreed to the dismissal. This means there will be no trial in April of next year.

#xrp XRP #SEC $XRP

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A new market report published by Chainalysis Chain Analytics reveals the growth of the industry in Central, Northern, and Western Europe (CNWE) the impact of the United Kingdom's (UK) dominance in its jurisdiction and the regulation of the Market for Crypto Assets (MiCA). The study reveals that between July and June 2022, CNWE accounted for 17.6% of global cryptocurrency trading volume, second only to North America in similar metrics.
Institutions (traditional and decentralized) have stepped up their efforts to enter the region's DeFi space by creating several web3 initiatives targeting growing niches, with inflows worth more than $1 trillion. In the CNWE, DeFi volumes account for 54% of the total ecosystem value, with lending apps, decentralized exchanges and related platforms growing in all countries. 🔭🔭
Over the past 12 months, the U.K. reached $252.1 billion in trading volume, ranking 14th in the Chainalysis Global Cryptocurrency Adoption Index.
(Note: The CNWE includes six of the world's 50 countries with the highest grassroots adoption of cryptocurrencies: the United Kingdom (14), Spain (22), France (23), Germany (26), Italy (37), and the Netherlands (39)🕳️🕳️