The crypto market has been eventful this week with a new rally sending Bitcoin (BTC) past $59,000. At the time of writing, the flagship cryptocurrency is trading at $59,039.32 after a 2.36% change in 24 hours. The altcoin market has also followed suit, with Ethereum (ETH), the second-largest cryptocurrency by capitalization, gaining 3.29% over the past 24 hours to change hands at $3,764.83.
The resurgence of the bull rally has also seen the decentralized finance (DeFi) space gains steam, with projects such as Solana and Avalanche expanding. OpenSea remained the biggest NFT marketplace.
Crypto user pays a 123 ETH commission
An unknown crypto adopter paid a commission of 123 ETH (approximately $423,000) after using the Flashbots service to prioritize the processing of his transaction. Reportedly, the user initiated a transaction to purchase Strips Finance tokens on MISO. However, the Flashbots service accidentally placed his transaction in a public mempool.
A miner processed the transaction, but the purchase did not go through because the Strips Finance token sale ended in less than a minute. After the failed attempt, the user used the Flashbots service to make another purchase. However, the user canceled the transaction with another transfer that saw them pay an additional 30 ETH worth approximately $105,000.
Starwood Capital co-founder purchases BTC and ETH
The co-founder of Miami-based investment firm Starwood Capital Group, Barry Sternlicht, revealed that he had added BTC and ETH to his portfolio. According to the billionaire, these investments seek to help him hedge against inflation. He pointed out that gold is worthless, but the crypto market is in its first inning. Sternlicht, however, failed to disclose how much he had invested in either coin.
Mark McGinness joins Binance
Binance, the leading cryptocurrency exchange by trading volume, appointed Mark McGinness as its first Chief Regulatory Liaison Officer. Reportedly, McGinness joined the exchange after serving as the Head of International Relations at the Dubai Financial Services Authority (DFSA) for 16 years. McGinness’ role at Binance will involve helping the exchange traverse the global regulatory minefield as it expands its operations.
SEBA bank launches SEBA Earn
Swiss-based SEBA bank launched SEBA Earn, an institutional-grade solution that lets investors earn profits from their crypto holdings. The FINMA-regulated bank noted that this product lets its clients generate crypto rewards from staking Tezos (XTZ), Polkadot (DOT), and Cardano (ADA). SEBA Earn will also let investors earn yield through centralized lending and borrowing.
TradingView secures $298 million in a private funding round
TradingView, a super-charting platform for traders and investors, netted $298 million in a Tiger Global Management-led private funding round. These funds saw the company’s valuation increase to $3 billion. Reportedly, TradingView has seen immense growth, with a 400% increase in new memberships since the onset of the COVID-19 pandemic. Additionally, the number of visitors has more than tripled.
Ant Pool stops internet access to mainland China
Ant Pool, a leading BTC mining pool, announced that it seeks to stop offering IP access to mainland China today, October 15. The firm said this move is part of its efforts to comply with the Chinese government’s regulations for crypto mining. On top of this, the company said it would roll out a KYC verification system to prevent Chinese users from circumventing the embargo.
Polkadot readies to launch parachains
Polkadot’s developers disclosed they are ready to roll out parachains, allowing projects to build on the Polkadot cryptocurrency network. The parachain auctions are set to start on November 11. Following this announcement, DOT surged as high as 19% yesterday.