The global crypto market cap is $2.30T 3.40%▲ with a 24-hour market volume of $138.94B 25.43%▲. Bitcoin's dominance is currently 45.07% 1.64%▲. CURRENT PRICES BY MARKET CAP | # | Name | Price | 24h % | | 1 | Bitcoin BTC | $56,054.72 | 7.19% ▲ | | 2 | Ethereum ETH | $3,575.02 | 1.48% ▲ | | 3 | Binance Coin BNB | $433.43 | 1.82%▼ | | 4 | Cardano ADA | $2.22 | 0.46%▼ | | 5 | XRP XRP | $1.08 | 0.94% ▲ | Source: CoinMarketCap, 5:00 EST
| |
 SEC Chairman Gary Gensler stated that the SEC wouldn’t ban crypto and the decision to do so is up to Congress. The statement came during a meeting with the House Committee on Financial Services. More: - Gensler reasoned that some cryptocurrencies are out of the SEC’s control because they “do not meet the test” of being some form of security.
- To better regulate crypto, Gensler suggested a bigger budget and more resources. The “short-staffed” SEC is allegedly working with a smaller team than it has had previously.
- Gensler said the SEC is not interested in a blanket ban on crypto in response to a direct question from Rep. Ted Budd (R-NC).
| |
 The Bank of International Settlements (BIS) issued a report on stablecoin regulation. “Principles for Financial Market Infrastructures To Stablecoin Arrangements” suggests stablecoin regulation should be consistent with the regulation of traditional payment systems. More: - The report was published in collaboration with the International Organization of Securities Commission (IOSCO).
- Under the regulatory suggestion, the proposed standards would govern and manage operational risks related to issuing, transacting, and validating stablecoins across global markets.
- The report argues against using blockchains for stablecoins due to the possibility of a "misalignment" between technical and legal settlement.
- BIS and IOSCO proposals on stablecoins are currently open for discussion and are expected to be finalized by early 2022.
| |
 A message from VOICE Introducing Voice: an NFT platform for emerging creators The NFT market surged to new highs in the Q2 of 2021, hitting $2.5 billion in sales so far this year. Yet even during its busiest time, there were fewer than 50k active participants - meaning there’s a long way to go before the technology hits the mainstream. (source) That’s because hurdles are high for creators looking to get involved. A steep learning curve and complex onboarding have kept the technological benefits of NFTs to a relatively small audience - until now. Introducing Voice, a carbon neutral NFT platform built specifically for emerging creators. The platform is environmentally friendly and has a clear path to becoming decentralized and portable. Voice is easy to use for both creators, who can mint for free, and collectors, who can use credit cards to purchase. The platform is being built with real-time feedback from both established curators and emerging creators. Voice believes that NFTs can change how we all share, collect and exchange ideas. Start minting today for free at Voice.com
| |
 TOP ETHEREUM NFT COLLECTIONS | # | Name | 24h Volume | 24h % | | 1 | Axie Infinity | $20.01M | 1.81% ▲ | | 2 | CrypToadz (GREMPLIN) | $8.11M | 42.90% ▼ | | 3 | Official Surreals | $5.85M | 83.44%▲ | | 4 | NFT Worlds V2 | $5M | - | | 5 | MutantCats | $4.53M | 47.29% ▼ | Source: DappRadar, 5:00 pm EST
| |
 π Fresh Funding π BitOasis, Exchange: $30M ⮕ The Series B funding round was led by Jump Capital and Wamda with participation from Digital Currency Group, Pantera Capital, Alameda Research, and others. More: - BitOasis is one of the leading crypto exchanges based in Dubai.
- The fresh funding will be used to expand internationally and maintain regulatory compliance in its areas of operation.
- Dubai’s financial services regulator previously announced plans to create a regulatory framework for crypto due to its growing popularity.
CoinSwitch Kuber, Exchange: $260M ⮕ The Series C funding round was led by Coinbase Ventures and a16z with participation from Sequoia, Paradigm, Ribbit, and Tiger Global. More: - CoinSwitch Kuber is a crypto exchange and second crypto unicorn based in India.
- The investment from a16z marks Andreessen Horowitz’s first major investment in an India-based startup.
- CoinSwitch Kuber subsequently announced its goal of adding 50 million Indian users to the platform with the launch of lending and staking services.
Strips Finance, DeFi/DEX: $8.5M ⮕ The private token sale round was led by Multicoin Capital and participated in by Sequoia Capital, Fabric Ventures, and Morningstar Capital. More: - Strip is a DEX platform that allows users to trade interest rates through derivative instruments.
- STRP, the platform’s native currency, is set to publicly launch next week.
- Strip is expected to launch on Ethereum via Aribtrum within the next month.
| |
▲ TOP GAINERS | # | Name | Price | 24h % | | 1 | Shiba Inu SHIB | $0.00002456 | 45.07% ▲ | | 2 | Arweave AR | $64.83 | 21.57% ▲ | | 3 | Bitcoin Gold BTG | $70.23 | 14.55% ▲ | | 4 | Fantom FTM | $1.56 | 10.64% ▲ | | 5 | Bitcoin BTC | $55,054.72 | 7.19% ▲ | ▼ TOP LOSERS | # | Name | Price | 24h % | | 1 | Avalanche AVAX | $60.24 | 7.12%▼ | | 2 | Ren REN | $1.13 | 6.68%▼ | | 3 | Algorand ALGO | $1.85 | 6.20%▼ | | 4 | Elrond EGLD | $231.24 | 6.08%▼ | | 5 | Solana SOL | $155.51 | 5.82%▼ | Source: CoinMarketCap, 5:00 EST
*Limited to cryptocurrencies in the Top 100
| |
 Shiba Inu (SHIB) has gained almost 200% over the past 48 hours. The massive jump in SHIB’s price followed a period of little-to-no growth for over three months. More: - The number of social media users mentioning SHIB rose 70% during the same period of growth, according to Santiment.
- Around 500 addresses previously purchased a total of 8T SHIB at $0.000025, suggesting that the crypto could face some resistance around that price.
- More than 10,000 addresses purchased a total 630B SHIB at $0.000021, which can favor some support at that level.
| |
 A message from THE MOTLEY FOOL Remember when Amazon was $3.19? This stock could be just like it. See why it pays to move early: - This stock is already up 1,603% since it was first recommended by The Motley Fool
- In addition to recommending investors get in early on Amazon, analysts at The Motley Fool have correctly predicted the success of many of the market’s biggest winners – including Netflix, Nvidia, Marvel, and then some.
- The Motley Fool has been doing this for a few decades now and our average stock pick has returned a mind-boggling 625%... that’s more than 4x the return of the S&P 500. *Returns as of 9/15
Invest in the next Amazon
| |
The DOJ announced the formation of a National Cryptocurrency Enforcement Team at the Aspen Cyber Summit. The new agency will be primarily focused on cybercrime and money laundering. More: - The DOJ will also form a cyber fraud team to create a joint initiative to protect consumers.
- The announcement made by Deputy Attorney General Lisa Monaco came a year after the DOJ published its crypto enforcement framework.
- While the initial enforcement framework placed a high priority on ICOs, Monaco’s comments seemed to shift the DOJ's enforcement to a broader focus on ransomware payments.
| |
 Brazil’s congress is set to discuss a new regulatory bill for crypto and crypto-related fraud. The bill was previously introduced by a special commission of the Brazilian House of Representatives in September. More: - If passed, the bill would increase the penalty for money laundering via crypto beyond the current sentence of 3-10 years' imprisonment.
- Companies will be given 180 days to modify their practices and adapt to the new regulation.
- The House of Representatives held that the proposed regulations would require a general session in the house to debate its passage. A date is currently not set for the debate.
| |
QUICK HITS - Bookkeeping is like going to the dentist. Few want to do it, but not doing it isn’t an option, either. Here’s what DIY bookkeeping really costs.*
- Kraken donated $150,000 to crypto diversity and inclusion initiative Black Bitcoin Billionaire.
- Binance registered its APAC, services, and technology entities in Ireland amid regulatory scrutiny.
- Bitcoin Lightning Network capacity exceeded 3K BTC for the first time, doubling in power since June.
- AMC Theaters launched Dogecoin (DOGE) as a payment option for digital gift cards via BitPay.
- Cool Cats and CrypToadz NFTs both surpassed $1M in secondary sales on OpenSea.
- Stand on the edge of tomorrow by following global market trends and spotting the best investment opportunities. Try Semrush .Trends!*
* Sponsored Content
| |
Upcoming Events - October 6 - Design for Startups (Register Here)
- October 12 - Join Flatfile as they announce a groundbreaking upgrade to its customer data onboarding platform. (Register Here)*
- October 14 - NFT Community Collectibles (Register Here)
- October 26-27 - Meet our Fund Fall ’21 Cohort (Register Here)
Want to see all of our upcoming events? Visit us at https://inside.com/events DID YOU KNOW WE'RE HIRING? *This is a sponsored post.
| |
 |  | Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
| |
The Motley Fool provides free and premium investment guidance to millions of individual investors around the world. | |
