Here is what happened yesterday in the crypto market:
Bitcoin Slumps While Institutional Investment Insights Emerge
Bitcoin has fallen below the $106,000 mark as the crypto market tumbles, nearing October crash lows and indicating a challenging start to November for major cryptocurrencies. This decline follows Bitcoin’s first October loss since 2018, with charts suggesting a potential deeper fall to $100,000 or lower. Simultaneously, institutional Bitcoin buying has dropped below the daily mining supply for the first time in seven months, signaling a potential shift in institutional demand dynamics. Read more and Read more
Balancer Protocol Suffers Another Major Exploit
Balancer, a decentralized finance (DeFi) protocol with over $750 million in locked value, appears to have been hit by an exploit, with on-chain data showing approximately $110 million in digital assets moved to new wallets. This incident marks another significant security breach for the protocol. Read more
Ripple Expands Institutional Offerings with New Prime Brokerage and Acquisition
Blockchain technology firm Ripple has acquired crypto wallet provider Palisade and launched a digital asset spot prime brokerage for U.S. institutional clients. These moves significantly expand Ripple’s institutional custody and payments business, reflecting a broader strategy to offer more comprehensive financial services. Read more and Read more
Swiss Crypto Bank AMINA Secures MiCA License in Austria
Swiss digital asset bank AMINA has obtained a regulatory license from Austria’s Financial Market Authority (FMA), allowing it to operate cryptocurrency services across Europe under the Markets in Crypto Assets (MiCA) regulation. This development highlights the increasing regulatory clarity and expansion of crypto services in the European market. Read more
Cipher Mining Jumps 19% Following $5.5 Billion AWS Deal
Cipher Mining (CIFR) saw a significant 19% surge after announcing a $5.5 billion lease agreement with Amazon Web Services (AWS). This deal pushes Cipher Mining deeper into the artificial intelligence (AI) infrastructure sector, indicating a growing convergence between crypto and AI industries. Read more