Cryptocurrency News And Price Weekly Wrap-Up For Oct. 21, 2022


Cryptocurrency prices rose Friday afternoon to finish sideways in what was a good week for stocks and another volatile week for digital assets. And, as always, it was another eventful week for crypto news. From Warner Bros. releasing NFT movies to Mastercard bringing crypto to banks. Stir in the latest SEC probes, Jack Dorsey’s new decentralized social protocol, Fidelity’s Ethereum offerings and Tesla’s Bitcoin holdings, and you’ve got yourself quite a crypto cocktail. Here are the week’s top crypto headlines.

Be sure to also check this week’s coverage of cryptocurrency ETFs like BITQ, BLOK and BITS.

Click here for the latest Cryptocurrency Prices and News. And if you’re new to the world of Bitcoin, Ethereum, blockchain and more, stop by our What Is Cryptocurrency page.

Cryptocurrency News: Price Action

Bitcoin is around $19,200 Friday evening after dropping below $18,700 before the stock market opened. Meanwhile Ethereum reclaimed its $1,300 level after falling to $1,254. Both were essentially unchanged over the week.

Ethereum’s price has slipped since mid-September after merging to a proof-of-stake network that should make the system faster and vastly more energy efficient.

Cryptocurrency Prices Heat Map:

Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.

Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.

View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.

Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.

Core Scientific Sues Celsius Network

Bitcoin miner Core Scientific (CORZ) is suing crypto lender Celsius Network for not repaying the roughly $5.4 million it’s owed since filing for bankruptcy in July, the Wall Street Journal reported. CORZ stock tanked this year, falling to $1 from $10 per share as the crypto markets suffered major losses.

Interpol Prepares To Police The Metaverse

Global police organization Interpol unveiled its metaverse platform specifically designed for law enforcement worldwide. The Interpol Metaverse is fully operational and allows users to interact and collaborate with other offices and take training courses in forensic investigation and other policing activities. Interpol says the list of possible crimes will only expand as the number of metaverse users grows.

Top Stablecoin Struggles Outside U.S.

Coinbase (COIN) says stablecoin USD Coin (USDC), the fourth largest cryptocurrency by market cap, is mostly purchased in America. Currently, three times more USDC is bought with U.S. dollars compared to non-American currencies. International users typically have to pay a fee to convert their local currency to USDC, creating a barrier for global adoption.

Young Investors Turn To Crypto

A massive $84 trillion in private wealth will pass down to Gen X and millennials by 2045, but generational differences in how people view money have never been starker as young investors turn to crypto, according to a Bank of America (BAC) study.

Tesla Bitcoin Holdings

Tesla (TSLA) still holds $218 million of Bitcoin as of Q3, according to Wednesday’s earnings report, relatively unchanged from the end of the second quarter, when Elon Musk’s car company sold more than 80% of the digital assets on its balance sheet.

Warner Bros. NFT Movies

Warner Bros. (WBD) is launching NFT movies and bringing “The Lord of The Rings” to the blockchain.

The Bloomberg Terminal Of Crypto

In other cryptocurrency news, Dash 2 Trade aims to be the Bloomberg Terminal of digital assets without an expensive monthly subscription. The crypto analytics and intelligence platform aims to raise $40 million through presales of its D2T token. It sold more than $300,000 worth within the first 24 hours of the presale launch.

Fidelity’s Ethereum Offerings

Fidelity Digital Assets will give its institutional customers the ability to buy, sell and transfer Ethereum starting on Oct. 28, The Block reported.

Jack Dorsey’s New Decentralized Social Network

Jack Dorsey, Block (SQ) CEO and former Twitter (TWTR) chief executive, is launching a decentralized social protocol through his Bluesky project.

a16z Cuts Back On Startups

Andreessen Horowitz plans to focus on lobbying and rebooting its accelerator program, General partner Chris Dixon said at TechCrunch disrupt. Meanwhile, the firm has scaled back investments in crypto startups the past two quarters despite a new $4.5 billion fund.

New Crypto Launch Falls Flat

Aptos Blockchain, which raised $200 million from the likes of Binance and Andreessen Horowitz (a16z), launched its main network Tuesday night. Its APT crypto token initially traded around $13.73 after going live, but dropped more than 42% to below $8, by early Wednesday.

Bitcoin Mining Stalls

CryptoFact: It took more than an hour to mine a single Bitcoin block on Monday, leaving more than 13,000 transactions in limbo.

Cryptocurrency News: FTX Probe

FTX US and CEO Sam Bankman-Fried are facing investigations from Texas regulators for potentially offering unregistered securities.

Walmart And Crypto

In an interview with Yahoo! Finance, Walmart (WMT) CTO Suresh Kumar said that crypto will become an important part of retail transactions and disrupt how people discover products.

SEC Probes 3AC

Bankrupt crypto hedge fund Three Arrows Capital (3AC) faces probes from the SEC and CFTC for potentially misleading investors about the strength of its balance sheet, Bloomberg reported.

Mastercard Brings Crypto To Banks

Mastercard (MA) launched a new Crypto Source program, which enables financial institutions to add cryptocurrency trading offerings and services.

Coinbase CEO Selling Stock

Coinbase (COIN) CEO Brian Armstrong announced he will sell 2% of his COIN stock to fund scientific research into extending human life.

Lazarus Group Strikes Again

Lazarus, the state-sponsored North Korean hacking group, successfully targeted Japanese crypto companies with phishing emails, according to reports from the Japan News.

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