MARKET

11/1 Summary: Dogecoin doubles in seven days, FTX Earn (Blockfolio) adds a $100,000 upper limit

2022/11/1

The daily digest compiles news with less information in the cryptocurrency field, including current events, long articles from overseas, celebrity opinions, funding news, and significant data changes, saving valuable time for readers. This article summarizes information up to 11/1 14:00.

Table of Contents

Market Data

Dogecoin Doubles in Seven Days

Dogecoin has seen significant gains in recent days, with a doubling in price over the past seven days. Huobi has also performed well in the past month since Justin Sun's high-profile appointment as an advisor. Below is a list of tokens with the highest gains in October, with Bitcoin (BTC) showing a 6.2% increase within the month.

Dogecoin DOGE: 109.46%
Huobi Token HT: 100.67%
Osmosis OSMO: 45.20%
Casper CSPR: 39.76%
Trust Wallet Token TWT: 39.58%
Klaytn KLAY: 37.04%
Elrond EGLD: 23.20%
Maker MKR: 22.53%
Ethereum ETH: 21.10%
Quant QNT: 18.99%

Crypto.com Trading Volume Drops 90% After Matt Damon Endorsement

CoinGecko data shows that since Crypto.com's advertisement featuring Matt Damon, trading volume has decreased from $40 billion to $3.8 billion. However, Decrypt reports that exchanges such as Huobi, Coinbase, and FTX have also seen varying decreases in trading volume ranging from 70% to 90%.

Argo Blockchain Halts Financing Plans, Stock Price Halved

Argo Blockchain released a shareholder statement on October 31st, announcing the cancellation of their previous share financing plans. They are now seeking alternative financing opportunities, but cannot guarantee the completion of any transactions.

Argo's $27 million financing plan, announced in September, involved an agreement with undisclosed investors to purchase 87 million shares at a price of $0.32 per share. Argo's stock price has dropped by over 50% since October 27th.

Crypto Current Events

FTX Cancels FTX Earn Blockfolio Interest Above $100,000

FTX announced this on Twitter, and the announcement has been updated:

Below $10,000: 8%
$10,000 to $100,000: 5%

Bloomberg Reports U.S. Justice Department Investigating Tether Bank Fraud, USDT Issuer Calls It Fake News

Tether responded, stating that Bloomberg's reports of the U.S. Justice Department's "investigation" in November 2018 and subsequent reports over the years are repeating old news that is not factual.

Anti-Corruption Organization: Salvadoran Bank Refuses to Disclose Bitcoin Transactions

The Anti-Corruption Legal Advisory Center (ALAC) of El Salvador pointed out that the bank, BANDESAL, responsible for managing funds for purchasing Bitcoin, has twice refused to provide any information on the flow of funds.

ALAC criticized this behavior for limiting citizens' ability to know if BANDESAL has potentially misused public funds.

Blockchain Association, Coinbase Intervene in Ripple Lawsuit

Both have recently filed amicus briefs with the court, with Coinbase pointing out the SEC's lawsuit against Ripple after allowing XRP trading for years; the Blockchain Association emphasizes the SEC's pattern of "enforcement over regulation" towards cryptocurrencies, not attempting to seek collaborative solutions with industry participants and using vague, arbitrary reasons to penalize crypto companies.

Stephen Curry Applies for Curryverse Trademark

Through Curryverse, Stephen Curry aims to establish proprietary rights over his virtual persona and provide services such as virtual clothing, merchandise, software as a service (SaaS), NFT trading platform, among others.

Long Reads, Celebrity Perspectives

Ignas | Seven DeFi Projects Worth Watching

RIZZO | 14 Interesting Facts About the Bitcoin Whitepaper

Bankless | SBF and ShapeShift Founder Erik Voorhees' Regulatory Debate

Regulation

SEC Chairman Gary Gensler Wishes Bitcoin Whitepaper Happy 14th Anniversary, Crypto Community Responds with Memes

As the Bitcoin whitepaper celebrates its fourteenth anniversary, SEC Chairman Gary Gensler extended his wishes on Twitter. However, the crypto community responded with a flood of memes in jest.