|Day's range||0.727190 - 0.727382|
|52-week range||0.704500 - 0.774165|
|Volume (24 hrs)||39.91B|
|Volume (24 hrs) all currencies||39.91B|
Within a 36-hour period, the first bitcoin futures exchange-traded fund (ETF) began trading, the underlying cryptocurrency hit a new all-time high and federal lawmakers dusted off their 2019-era concerns about the Facebook-linked stablecoin project Diem. Federal lawmakers who couldn’t care less in 2019 are planning to propose legislation regulating different aspects of the industry in the coming months. The project, now named Diem, has been fairly quiet over the past 10 months (this week’s news notwithstanding), and we’re seeing lawmakers focusing on broader swaths of the industry.
Bitcoin’s steady march to near-all time highs came as traders correctly anticipated that the U.S. Securities and Exchange Commission (SEC) would approve futures-based exchange-traded funds (ETFs). An Oct. 18 newsletter by data firm Kaiko indicates that bitcoin’s recent gains took off after the BTC/USDT spot trading pair’s volume spiked around Oct. 10 on Binance, one of the world’s largest exchanges. The spike took place just a few days after one buyer or a group of buyers entered an order on Binance on Oct. 6 to buy $1.6 billion worth of bitcoin, which sent bitcoin’s price skyrocketing 5% to about $55,500 at the time.
Attorney Rohan Grey talks stablecoins, banking regulations, and more.