Cryptocurrency News Live Updates and Latest News: (17 October 2022) The global crypto market registered marginal recovery over the last day. The cumulative market cap now stands at around $922.7 billion. However, investors are still trading in doubt over the more than expected inflation data.
The new CPI data has resulted in raising questions among traders about whether the Federal Reserve’s interest rate hikes were missing some specific action that needed to be taken.
Cryptocurrency News Live Updates
Bitcoin block time reaches rare height
The block time at Bitcoin height 759053 – 054 reportedly reached a rare 85 minutes. This has caused huge delays in the transaction. Last time China’s Bitcoin mining ban left the block time of 688436-437 to reached 100 minutes.
Coinbase aims to expand in Europe
Coinbase, the world’s second largest crypto exchange laid off 20% of its staff over the last year due to emerging macro conditions. However, no the exchange is looking forward to expanding its foothold in the European market. In this pursuit, it has hired Daniel Seifert to lead its European expansion plan.
SBF’s FTX expands in Dubai
FTX chief, SBF announced that its crypto exchange is received the license to operate in Dubai. It will be regulated by VARA. This will expand FTX’s presence in the city. However, it looks forward to working the regulators for protecting users and strengthening the laws around digital assets.
Pro Terra LUNC shares new revival plan
Edward Kim, a lead developer at Terra Rebels has come up with a proposal for building Terra Classic Grants Program. This will be done in order to generate new utility for the Terra Classic chain.
Japan Revises Laws Regarding Crypto Trading
The Japanese government came on to a conclusion to revise six laws covering the trading market. This includes exchanging crypto assets and foreign exchange. Now, the entities will be obliged to confirm information such as user names and other information to prevent money laundering
