The global crypto market cap is $2.15T 1.35%▼ with a 24-hour market volume of $111.77B 11.16%▲. Bitcoin's dominance is currently 41.47% 0.02%▲. CURRENT PRICES BY MARKET CAP | # | Name | Price | 24h % | | 1 | Bitcoin BTC | $47,347.11 | 1.41% ▼ | | 2 | Ethereum ETH | $3,543.80 | 0.24% ▼ | | 3 | Cardano ADA | $2.40 | 4.16%▼ | | 4 | Binance Coin BNB | $419.92 | 1.91%▼ | | 5 | XRP XRP | $1.08 | 3.25% ▼ | *Prices as of 4:30 p.m. ET.
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 Coinbase filed an application with the NFA to become a Futures Commission Merchant. The move is a preliminary step to offering futures and derivatives trading on the Coinbase platforms. More: - Coinbase’s spot-trading exchange made $1.8B in Q1 last year.
- $4.8B of bitcoin (BTC) futures traded over the past 24 hours alone.
- By adding futures and derivatives to the Coinbase platform, Coinbase could capture the value already traded on other exchanges and make profits through premiums and market-making.
- As Coinbase continues expanding its business and offerings, it raised a $2B debt offering that immediately received $7B in orders.
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 The European Securities and Markets Authority (ESMA) released a report on cryptocurrencies. The report raises concerns over crypto volatility and identifies general trends, risks, and vulnerabilities in the crypto market. More: - The ESMA took issue with the 40% decline of the total crypto market cap over Q1 2021.
- Despite volatility risks, the ESMA found that FinTech innovation through regulatory sandboxes is mutually beneficial for the EU and crypto companies.
- Additional concerns were raised regarding the economic impact of crypto. However, the ESMA highlighted the significant variation in estimated energy consumption.
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 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
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 🍋 Fresh Funding🍋 Audius (AUDIO), NFT/Streaming: $5M ⮕ The investment round was participated by prominent musicians like Nas, Mike Shinoda, Steve Aoki, Disclosure, Pusha T, and others. More: - Audius is a music streaming and sharing platform with NFT functionality for artists.
- The platform made headlines back in August when it announced a major partnership with TikTok.
- Audius was initially developed on Ethereum (ETH) through the POA Network sidechain but recently integrated its services into the Solana (SOL) ecosystem.
- AUDIO is currently up nearly 30% in the past 24hrs reaching a daily high of $2.93.
Avalanche (AVAX), Blockchain: $230M ⮕ Polychain and Three Arrows Capital led the token sale funding round with participation from R/Crypto Fund, Dragonfly, CMS Holdings, and others. More: - Avalanche is a layer 1, proof-of-stake cryptocurrency with smart contract functionality.
- The funding from the token round will be used to facilitate grants and other token purchases for DeFi projects within the Avalanche ecosystem.
- Since its launch in Sept. 2020, Avalanche has attracted over 225 DeFi projects from organizations like Tether, TrustSwap, and Chainlink.
- AVAX jumped over 25% following the sale, reaching a new ATH of $67.86.
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▲ TOP GAINERS | # | Name | Price | 24h % | | 1 | Audius AUDIO | $2.75 | 23.05% ▲ | | 2 | Shiba Inu SHIB | $0.000008068 | 19.65% ▲ | | 3 | Avalanche AVAX | $64.42 | 15.37% ▲ | | 4 | THORChain RUNE | $10.15 | 9.62% ▲ | | 5 | Celo CELO | $5.27 | 6.76% ▲ | ▼ TOP LOSERS | # | Name | Price | 24h % | | 1 | Fantom FTM | $1.29 | 12.90%▼ | | 2 | Hedera Hashgraph HBAR | $0.4701 | 10.75%▼ | | 3 | Arweave AR | $52.94 | 10.29%▼ | | 4 | Ren REN | $0.9894 | 8.86%▼ | | 5 | Telcoin TEL | $0.01912 | 7.74%▼ | *Limited to cryptocurrencies in the Top 100. Prices as of 4:30 p.m. ET.
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 SushiSwap (SUSHI) gained 7.54% overnight, reaching $16.31 for the first time since May. The gains from SUSHI were consistent with a price surge among decentralized exchanges. More: - Uniswap (UNI) saw an overnight jump of 6.23%, while PancakeSwap (CAKE) jumped 2.5%.
- SUSHI’s higher highs compared to other DEXs were attributed to yesterday’s announcement that SushiSwap will integrate Arbitrum.
- DEX tokens are generally rising in price due to growing popularity in DeFi, which has generated more fees for their services.
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BTC and ETH exchange reserves continued to decline over the past month. Exchange reserves are an indicator of the total number of coins held in wallets on centralized exchanges. More: - 6.5% of the total BTC supply was found on centralized exchanges, down 1.2% in the past 30 days.
- 15.7% of the total ETH supply was found on centralized exchanges, down 1.5% in the past 30 days.
- Short-term supply on exchanges, an indicator of the total number of crypto in transactions, dropped to 2015 lows.
- A downward trend in exchange reserves and short-term supply can be seen as an indication of off-exchange holding or increased OTC sales.
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 A 24-year-old college dropout received a 90-month sentence for operating a fraudulent $100M hedge fund. Stefan He Qin ran two fraudulent hedge funds in Manhattan with over $100M in assets under management. More: - Qin pled guilty to operating a $100M Ponzi scheme and defrauding investors out of $54M.
- One of the hedge funds, Virgil Sigma, promised investors 500% annual returns through “safe” arbitrage investment strategies.
- In addition to the 7 1/2 year sentence, a DOJ press release stated that Qin would also be required to repay the $54M.
- Qin had turned himself in back in February and pleaded guilty on the same day.
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- Research from Fidelity Digital Assets found that 90% of surveyed investors find crypto and other digital assets appealing.
- Ethereum founder Bitalik Buterin was featured in Time Magazine’s 100 Most Influential People of 2021.
- cLabs, the development team behind Celo (CELO), hired former a16z team member Danielle Andrezejwski and London’s Official Monetary and Financial Institutions Forum’s Chris Ostrowski.
- Crypto.com partnered with e-sports team Fnatic in a five-year, $15M sponsorship deal.
- The CEO of AMC confirmed that the movie and entertainment company would begin accepting bitcoin by the end of the year and added payments in Ethereum, Litecoin, and Bitcoin Cash.
- Join us Thursday, October 28th at Elevate — the most business-critical conference. You won't want to miss the exclusive Q&A with Dan Levy! *
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 |  | 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. | |
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