An undisclosed source noted that the financial services regulator (FCA) of the United Kingdom has conducted a secret inquiry over BCB group, a crypto-based company; yet the inquiry now remains closed.
Available information notes, BCB group is the same company that had received s166 notice in 2023 from the FCA UK. According to insiders, the investigation has reached a favorable outcome for BCB, bringing closure to the matter.
Following the bankruptcy of Silicon Valley and Signature Bank, the reputation of BCB Bank has improved with a surge of users and account holders.
Worth noting that the attitude of the financial regulators of the United Kingdom has significantly changed in the past few months; forcing crypto-based companies in the region to relocate their headquarters to other nations.
Most recently a leading crypto investor, Christian Angermayer residing in the UK has departed for Switzerland. There are claims that the unfair taxes over cryptocurrencies in the region are becoming the reason behind the relocation of millionaires and billionaires to nations favoring crypto.
Angermayer has his major investments in life sciences, fintech, AI, psychedelics, and crypto; until publishing his real-time net worth was $1.3 billion, making him the 2697th richest in the world.
Other Market News Updates
Todayq reported that the Indian police have identified 19 people of a family looting 2 brothers for over 1 Cr Indian money in cryptocurrencies, promising victims a return of 12x over their investment.
CCData notes in its recent report that the market share of Binance shrunk to 36.6% last month, down from 42.7% at the start of the year. Around 27% of Binance’s share in the spot market has been the lowest since January 2021, yet it accounts for 40.7% of derivatives trading, which is also the lowest in the past four years.
On October 04, 2024, TeraWulf, a leading BTC mining firm, announced to sale of its 25% equity interest to Talen Energy. The sale is offered for $92 million, which the company aims to use for AI and Bitcoin mining.
Bitcoin & Ethereum Market Updates
According to data from SoSoValue, the U.S. The Bitcoin ETF market saw an outflow of $54.12 million as of October 03, 2024. The list of outflow is led by ARKB followed by FBTC; yet the IBIT, BITB, and BTCO saw a significant inflow in the past 24 hours.
The Ethereum ETF market in the United States has seen an outflow of $3.20 million with a cumulative total net inflow of negative $561.60 million, as of October 03, 2024. The Ether spot by Grayscale and Fidelity are at the top of outflow, at the same time the inflow list is ruled by ETHA ETF by BlackRock.
Crypto Market Price Updates
In the past 24 hours, the cryptocurrency market capitalization reflected a surge of 1.13% reaching $2.14 trillion until publishing. Despite recovery, the fear and greed index remains at 36 reflecting a fear sentiment in the market.
At the time of writing Bitcoin was at $61,399 growing 1.25% intraday, however in the past 7 days it lost 3.69% of its value. The volatility of the market has stirred the market sentiments but despite this turbulence, the market dominance of Bitcoin and Ethereum continues to grow.
Ethereum lost 10.98% in the past seven days reaching below the mark of $2500; before the launch of Ether ETFs there was speculation that after the launch the price would reach the sky, but months have passed and ETH failed to surpass or beat the mark of $3,000.
