- Ethereum spot ETFs lost $111 million, as BlackRock’s ETHA shed $75.4543 million.
- Albuquerque’s crypto ATM ban imposes $500 daily fines and a December 5 deadline.
- Ireland fined Coinbase’s Irish unit €3.25 million over client fund safeguarding.
The global crypto market cap fell 1.1% to $2.843 trillion over the past 24 hours. Bitcoin traded at $81,652.42, down 1.3% on the day and down 0.2% over the past week. Ethereum changed hands at $2,403.31, down 1.3% in 24 hours and down 1.1% over seven days.
BNB slipped 0.3% to $738.00 but remains up 1.5% weekly. XRP fell 1.8% to $1.32, down 0.9% over the week. Solana dropped 1.2% to $104.01, down 1.0% over seven days.
CoinGlass data showed $374 million in liquidations over 24 hours, with longs accounting for $317 million and shorts for $57.3361 million. Bitcoin’s market dominance was at 60%, its highest level since May.
Trending Searches
Axis Robotics led trending searches, down 3.4% to $0.2792. Pearl fell 11.6% to $2.12, Pudgy Penguins slipped 1.4% to $0.007874, Starknet dropped 5.4% to $0.05305, and Quantus eased 0.8% to $89.62.
Among top gainers, Dacity Coin surged 128.0% to $0.01753, and DAI on PulseChain climbed 82.6% to $0.002338. Ambire Wallet rose 64.7% to $0.02112, Magma Finance gained 50.0% to $0.4985, and Yellow added 45.3% to $0.1438.
ETF Outflows and Bitcoin Support Levels
SoSoValue data showed Bitcoin spot ETFs shedding $635 million on October 22. BlackRock’s IBIT accounted for $254 million of the outflows, while Morgan Stanley’s MSBT took in $2.33 million. Ethereum spot ETFs lost $111 million, led by BlackRock’s ETHA at $75.4543 million. SOL ETFs recorded $8.515 million in outflows and HYPE ETFs $7.8788 million.
Glassnode said Bitcoin is again testing the ETF holder cost basis near $81,000. In its view, a decisive close below that level could open a path toward $70,000. Lookonchain said 40 newly created wallets have withdrawn 9,458 BTC, worth $771.5 million, from Wintermute since October 1.
Corporate and Institutional Moves
It was reported that Visa is in talks to acquire Fireblocks at a valuation of about $2.5 billion. Fireblocks said the report is not accurate, and Visa declined to comment.
a16z managing partner Chris Dixon said a16z Crypto has been renamed a16z Frontier. The fund will back a broader set of frontier startups while continuing to invest in crypto. General partner Ali Yahya said he is leaving to found a company.
HSBC launched its Hong Kong dollar stablecoin, RedCoin, through PayMe. SoFi introduced SOFIE, an FDIC-insured tokenized deposit paying a 4.4% annual percentage yield.
Regulatory and Legal
US Senator Richard Blumenthal sent letters to Tether and Nxum Group, the consulting firm of former White House crypto adviser Bo Hines. The letters seek details of fees Tether paid Nxum while Hines advised the administration. The Central Bank of Ireland fined Coinbase’s Irish subsidiary €3.25 million over client fund safeguarding failures.
Albuquerque’s crypto ATM ban took effect. Operators face $500 daily fines and must remove machines by December 5. The Bank of Korea said it plans to amend the Foreign Exchange Transactions Act this year to regulate stablecoin payments.
Security Incidents
Amazon’s threat intelligence team said attackers tried to exploit the two PHP vulnerabilities as early as October 17, before public disclosure. Palo Alto Networks counted more than 22.6 million exposed instances worldwide.
ZachXBT urged users to withdraw funds from Indian exchange CoinDCX. He said roughly $16 million was stolen after the co-founders had denied any theft. CoinDCX said a failed process for consolidating deposits sent to disabled addresses caused operational losses, which the platform will absorb.
Macro Markets
US stocks closed lower, with the Nasdaq down 2.88%, the S&P 500 down 1.17% and the Dow off 0.02%. Riot Platforms fell 7.92%. QCP Capital said South Korea’s KOSPI plunged 14.5%, its steepest drop since October 2008. Spot gold fell below $4,000 to $3,998.72.
Related: Why Asian Stocks and Bitcoin Fell Together on Thursday: Oil, AI and Rates
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