Daily Crypto News

  1. Tyler Hobbs’ QQL NFT Project Raises Nearly $17M in Successful Mint — QQL, a collaborative generative art experiment, raised nearly $17 million in a successful mint on Wednesday afternoon and continued to climb in trading throughout the day. The unique NFT project is a collaboration between visual artist Tyler Hobbs and Dandelion Wist, co-founder of generative art platform Archipelago. The QQL algorithm is open for everyone to use but only mint pass holders will be able to turn their creations into official NFTs in the collection.
  2. Delaware DOJ Freezes Wallets, Accounts in ‘Pig Butchering’ Crypto Scams — Delaware law enforcement authorities have frozen accounts belonging to individuals involved in “pig butchering” scams, a version of an increasingly common crypto romance scam in which swindlers lure unsuspecting investors to send them their crypto holdings. In a press release Wednesday, the state’s department of justice said the agency had issued a cease-and-desist order to 23 entities, including wallets, accounts and individuals.
  3. Bitcoin Could ‘Double in Price’ Under CFTC Regulation, Chairman Behnam Says —Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam said Wednesday that CFTC-led regulation could have significant benefits for the crypto industry, including a potential boost to the price of bitcoin. “Growth might occur if we have a well-regulated space,” Behnam told attendees during a fireside chat at NYU School of Law. “Bitcoin might double in price if there’s a CFTC-regulated market.”
  4. Is Bitcoin an Inflation Hedge? Investors Are Still Unsure — Bitcoin (BTC) regained the $19,000 level Wednesday intraday as industry watchers pondered anew whether the largest cryptocurrency would become a go-to asset in times of high inflation. BTC was recently up about 3% over the past 24 hours and roughly 6% over the past seven days, according to Messari data. “Following the philosophy of buying when there’s blood in the streets and the common saying of being greedy when everyone around you is fearful, we might be at the opportune time to start slowly placing capital,” said Sheraz Ahmed, managing partner at STORM Partner.
  5. USDC coming to five additional blockchain ecosystems — Circle Internet Financial, Inc., the global financial technology company behind the USD Coin (USDC) stablecoin, will soon be making the token available on five additional blockchains, Chief Product Officer Nikhil Chandhok said on Wednesday at the company’s Converge22 conference.
  6. Are stablecoins like Tether ready for regulatory scrutiny? — Lawmakers and regulators around the world have been racing to craft rules and regulations for stablecoins, and the recent collapse of the Terra UST algorithmic stablecoin has served as a tailwind to push the agenda forward. At a supranational level, the Financial Stability Board (FSB) was compelled to release a statement that cautioned: “The recent turmoil in crypto-asset markets highlights the importance of progressing ongoing work of the FSB and the international standard-setting bodies to address the potential financial stability risks posed by crypto-assets, including so-called stablecoins.”
  7. Circle Expands USDC Stablecoin to Five New Chains, Unveils Cross-Chain Transfer Protocol — Circle Internet Financial, issuer of the second largest stablecoin, USD coin (USDC), will expand USDC to five new blockchains in an attempt to strengthen its market position and bolster access across multiple chains. Circle also unveiled a tool called Cross-Chain Transfer Protocol to enhance USDC transactions between different blockchains. The firm disclosed the plan Wednesday at its Converge22 conference in San Francisco.
  8. Native USDC on Cosmos to Fill Vacuum Left by Terra’s UST Stablecoin — The collapse of Terra in May left a vacuum in the Cosmos ecosystem, where Terra’s UST stablecoin — which was algorithmically pegged to the U.S. dollar — was used heavily across Cosmos’ interconnected family of blockchains. Now, with the help of the stablecoin issuer Circle, Cosmos is replacing code with collateral.
  9. Circle to Roll Out Free Crypto Literacy Program to HBCUs — Students at four U.S. historically black colleges and universities (HBCU) could have access to a free crypto literacy program offered by Circle, the financial technology company, in October. According to a press release shared with CoinDesk, students can take a mandated or extracurricular part of their fall 2022 curriculum in Circle’s courses, on such topics as Bitcoin and blockchain technology, Ethereum and tokenization, and Web3 and applications. Also, students with excellent academic performance may get earlier access to apply for Circle internships and employment.

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