05.10.[News of the day] • USDC issuer Circle “fully cooperates” in SEC investigations and other articles

Welcome to today’s overview of crypto news:

MARKETS

Less than a week ago, the price of BTC fell below $ 41,000 for the third time in five days. Yet much has changed since then. BTC began to recover quickly, recovering $ 43,000 and $ 45,000 in just two days. Its value continued to grow, reaching $ 48,000 over the weekend. Here it was initially rejected, which brought him back to $ 47,000, but the bulls began to grow further in the following hours.

This time, BTC even exceeded the $ 49,000. After mapping out this four-week high, BTC retreated slightly, but is still above $ 49,500.

Most altcoins have recently mimicked the performance of BTC, but the situation has changed in the last 24 hours. For example, the ETH has improved by about 1% against the dollar and is at $ 3,400. However, it decreased by more than 2.5% compared to BTC over the same period.

Cryptocurrencies

Shiba Inu (SHIB) flew 100% within days of buying a whale

The unknown SHIB whale bought more than six trillion of this asset a few days ago. The token launched in the following days and doubled in value, despite the recent decline in TVL on the decentralized Shiba Inu.

Investors seem to be really interested in Shiba Inu, as the total value of the locked currency climbed to almost $ 2 billion in June and July. Now, however, TVL has dropped significantly to less than $ 300 million, according to DeFiLlam.

A recent transaction at the end of September showed that he had bought nearly 6.2 trillion tokens for approximately $ 44 million. In the following days, the price of SHIB rose sharply from about $ 0.0000715 to yesterday’s daily high of $ 0.0000145. It became its highest price level since mid-May.

Brazilian Federal MP: You will soon be able to buy McDonald’s for BTC

Following the example of El Salvador, Brazil may soon use BTC as its currency. According to federal deputy Aureo Ribeiro, Brazilians will be able to buy houses, cars and McDonald’s for the world’s largest cryptocurrency.

This is possible thanks to the adoption of Act 2.303 / 15 last Wednesday, which aims to provide a legal framework for virtual currencies. However, the bill will face the last hurdle in the coming days in the form of approval by the plenary of the Chamber of Deputies (Cámara dos Diputados).

Banks, crypto exchanges, companies

The Swiss Post issued the first Swiss crypto stamp

The Swiss Post has launched its first crypto-stamp. The stamps will be sold as digital collectibles, which are associated with a physical stamp issued by the Swiss Post. Each stamp will cost 8.9 Swiss francs (~ 10 USD).

The stamps will feature one of 13 different images, with digital versions stored in a blockchain. They can then be traded, collected or exchanged online much like nonfungible tokens (NFTs) and other digital collectibles. Like the NFT, digital versions of Swiss Post’s stamps will be tradable on the OpenSea market.

Bank of America offers an optimistic outlook for DeFi and NFT

Bank of America Corporation (BoA) has published a research report offering a bullish outlook for the long-term prospects of cryptocurrencies.

The report, published on October 4 by BoA’s subsidiary BofA Securities, offers a differentiated assessment of the digital assets sector, highlighting innovations in the decentralized finance (DeFi) and non-fungible tokens (NFT) sectors.

The report says the market capitalization of the cryptocurrency sector at $ 2.15 trillion is “too big to ignore,” and emphasizes that the digital asset ecosystem has evolved to include “much more” than just BTC.

CBDC, Regulation

USDC issuer Circle is “fully cooperating” in the SEC investigation

The United States Securities and Exchange Commission (SEC) is closely monitoring not only stablecoins but also high-interest cryptoproducts. In fact, as early as September, the SEC also delivered a Wells announcement to Coinbase for its “Lend” product.

Circle, the issuer of USDC’s stablecoin, has now announced in a legal filing that it has come under SEC control. Circle confirmed that it was “cooperating fully” with the investigation.

Circle’s filing of October 4 is a “statement / prospectus” that details its business and various products. In addition, the submission revealed a regulatory measure recently faced by Circle and its “100% wholly owned indirect subsidiary” Poloniex.

Citadel’s CEO says regulatory uncertainty keeps the company out of cryptocurrencies

In an interview with the Chicago Economic Club, a billionaire and hedge investor said that Citadel would trade in cryptocurrencies if there was more regulatory certainty. Citadel CEO Kenneth Griffin is not a fan of cryptocurrencies, but that’s not why Citadel doesn’t trade with them.

Although Griffin teased that he could expect criticism for his not-so-positive views on digital assets, he said his views had little to do with why Citadel had not yet immersed itself in trading digital assets.

If the crypto were regulated, the Citadel would trade with it, Griffin said. There is a demand for it from the company’s online partners, and the company trades in business-related businesses with which it does not agree. However, at present, regulatory uncertainty is too great.