🚀Bitcoin Posts New 2023 Highs As ETF Speculation Reignites
BTC is trading at an 18-month amid a resurgence of speculation that a spot Bitcoin ETF will soon receive approval. Bloomberg analysts noted the comment period of ETF applications will not resume until Nov. 17, providing an eight-day window in which the SEC can approve applicants.
Nouriel Roubini, a prominent economics and former outspoken crypto critic, has shocked onlookers by announcing plans for a digital token. Roubini's fintech company, Atlas Capital, recently unveiled the Atlas Climate Stablecoin, with the token backed by a portfolio of real-world assets.
And Binance launched a web3 wallet supporting popular services from Binance and DeFi protocols.
✍️ In today’s newsletter:
- Resurging ETF speculation drives crypto gains
- Roubini-founded firm unveils stablecoin plans
- Binance wallet bridges DeFi and CeFi
📈 Markets in last 24 hrs:
|S&P 500||$4,383||↗ 0.1%|
|Arch WEB3||1.05pts||↗ +5.35%|
|↳ FINANCE||0.96pts||↗ 3.13%|
|↳ INFRA||1.24pts||↗ 8.77%|
|↳ CONSUMER||1.14pts||↗ 3.86%|
Learn more about Arch Indices here.
SCAM WARNING FOR READERS
The Defiant is not releasing a token soon!
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A subset of our subscribers have reported receiving a phishing email promoting a Defiant token - To be clear, we do not have a token nor are planning to launch one in the near future. We urge our community to NEVER click on links coming from outside our official communication channels, which are:
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Crypto Markets Rally On Renewed Spot Bitcoin ETF Hype
TLDR Digital assets are rallying again as a fresh round of spot Bitcoin ETF speculation takes hold of the markets. The action comes after Bloomberg analysts tipped the SEC could approve all 12 ETF applicants this week.
SO WHAT Bloomberg's James Seyffart noted that the pending spot ETF applications will remain between comment periods until Nov. 17, providing a window in which the SEC can approve applications. A spot Bitcoin ETF would invest in and hold BTC for investors, unlike the derivatives contracts held by existing futures Bitcoin ETFs.
Crypto Critic Nouriel Roubini is Launching a Token
TLDR Onlookers were shocked to see Atlas Capital, a fintech firm founded by economist and outspoken crypto critic, Nouriel Roubini, planning on launching a digital token. The Atlas Climate Token will comprise a stablecoin pegged to a portfolio of real-world assets, including commodities, bonds, and REITs.
SO WHAT Roubini previously likened Bitcoin to "the mother of all bubbles," chastised cryptocurrency for manifesting "the biggest criminal heist in human history," and pronounced the entire sector a "collapsing Ponzi scheme" last year. Despite Roubini's past comments, Atlas Capital is hoping to carve out a segment of the web3 markets for itself.
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Binance Launches Web3 Wallet To Bridge CeFi With DeFi
TLDR Binance, the top centralized cryptocurrency exchange, launched a digital asset wallet offering support for both Binance's centralized services and popular DeFi protocols. The wallet supports cross-chain swaps, DEX-based trading, and multi-party computation for security.
SO WHAT The new Binance web3 wallet shows the largest centralized exchange is increasingly embracing DeFi. While Binance has historically appeared antagonistic to Ethereum and its DeFi ecosystem, the new wallet suggests Binance is positioning itself to benefit from the network's growth.