🌙 XRP False ETF Report

XRP's price briefly surged and then fell back after a fake report emerged about BlackRock's purported XRP ETF, underscoring the market's reaction to ETF-related news.

Author

Mike Gavela
November 13, 2023

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Crypto Roundup - Nov 13

XRP experienced volatile price movements due to a false report about a BlackRock-backed ETF, causing a brief 12% surge before correcting, showcasing the market's sensitivity to ETF news. Concurrently, Cboe Digital, part of the Chicago Board of Options Exchange, announced plans to introduce margined futures for Bitcoin and Ether starting January 11, marking a significant expansion in U.S. crypto derivatives trading. Digital asset investment inflows have surpassed $1 billion in 2023, led by Bitcoin and Ether-based products, with Bitcoin ETPs alone registering $240 million in inflows. Ether-based products also saw their largest inflows since August 2022, influenced by filings for an Ethereum Trust and a proposed spot Ether ETF. These developments reflect a dynamic period in the cryptocurrency market, characterized by investor enthusiasm and evolving financial products.

Top Stories:

  • XRP Reacts to False ETF Report: XRP's price briefly surged and then fell back after a fake report emerged about BlackRock's purported XRP ETF, underscoring the market's reaction to ETF-related news.

  • Cboe Digital Announces Margined Futures: Cboe Digital will launch margined futures for Bitcoin and Ether, a significant development for crypto derivatives trading in the U.S.

  • Crypto Fund Inflows Hit Milestone: Digital asset investment products surpassed $1 billion in inflows for 2023, led by Bitcoin and Ether-based products, indicating growing investor interest in the cryptocurrency market.

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TOP STORIES

First deadline window looms for SEC to approve Bitcoin ETFs: Law Decoded

The approval window for Bitcoin ETFs, the CLARITY Act, new stablecoin guidelines in Europe and an international pledge to exchange crypto tax data. All the major developments in regulation in this week’s Law Decoded newsletter!

cointelegraph.com/news/first-deadline-window-looms-for-sec-to-approve-bitcoin-etfs-law-decoded-nov-6-13

CPI Report Tuesday Could Provide Next Bitcoin Catalyst

The U.S. government tomorrow will report on October inflation data.

www.coindesk.com/markets/2023/11/13/cpi-report-tuesday-could-provide-next-bitcoin-catalyst

DeFi vulnerability leading to $6.7M exploit ‘not detected’ by auditors

Raft’s smart contracts remain suspended for the time being.

cointelegraph.com/news/de-fi-vulnerability-leading-6-7-m-exploit-stablecoin-not-detected-by-auditors

FUNDRAISES

OTHER HEADLINES

Former FTX, Alameda Executives to Start New Crypto Exchange: WSJ

Former FTX general counsel Can Sun, who was a key witness in the Sam Bankman-Fried trial, and former Alameda Research software developer Armani Ferrante are building a Dubai-based exchange called Backpack Exchange.

www.coindesk.com/business/2023/11/13/former-ftx-executives-to-start-new-crypto-exchange-wsj

Ethereum Wallet Drainer Steals $60M in Six Months

Hackers are using a piece of code called Create2 to bypass security alerts when users sign malicious signatures.

www.coindesk.com/business/2023/11/13/ethereum-wallet-drainer-steals-60m-in-six-months

Aave Companies launches decentralized social graph Lens V2 on Polygon

Web3 software technology firm Aave Companies launched Lens protocol V2 on Polygon during the Devconnect event in Istanbul.

www.theblock.co/post/262819/aave-companies-launches-lens-v2-on-polygon

Crypto industry protests against Treasury's proposed tax reporting regulation

The crypto industry is staunchly fighting back against proposed rules that would expand who would have to report certain crypto transactions.

www.theblock.co/post/262893/crypto-industry-protests-against-treasurys-proposed-tax-reporting-regulation

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