Cryptocurrency news digest for the night of October 31, 2024

According to data as of October 31, bitcoin (BTC) quotes lost 0.3% over the day. The world’s main cryptocurrency is trading around the 72,300 mark. The value of ether (ETH) has dropped by 2.1% in the last 24 hours. The virtual coin can be purchased at a price close to 2,635. The quotes of Ethena (ENA) suffered the most in the past 24 hours. This token fell in price by 11%.

Record inflow of funds into bitcoin-ETFs

According to SoSoValue, on October 30, there was a significant inflow of funds into bitcoin-ETFs, totaling $893 million. This day was the 2nd largest inflow in history, second only to March 12, when the result was $1.05 billion. ETF BlackRock IBIT attracted $872 million.

Growth in the number of investors in South Korea

According to an official report, the number of crypto investors in South Korea reached 7.78 million in the 1st half of 2024. This is a 21% increase compared to the 2nd half of 2023. The average daily trading volume increased from $2.61 billion to $64.35 billion.

Bybit fined in the Netherlands

Bybit acknowledged the decision of the Dutch Central Bank (DNB) to impose a fine of €2.25 million for providing services without registration from October 2, 2020 to September 15, 2023. Bybit has been operating under a VASP license granted by SATOS and approved by the DNB since September 2023.

Appointment of new VP of Product at Binance

Binance has announced that Jeff Lee has joined the company as Vice President of Product. Lee will be responsible for managing the company’s global product and design teams. He previously served as head of CeFi products at OKX.

Ex-FTX executive receives lenient sentence

New York federal court judge Lewis A. Kaplan decided not to impose a prison sentence for former FTX chief engineer Nishad Singh. This marked the most lenient sentence handed down to an ex-executive of the exchange. Singh was a key witness whose testimony helped prosecutors secure the conviction of FTX founder Sam Bankman-Fried.

Canary Capital has filed an application for a SOL ETF

Fox Business journalist Eleanor Terrett reported that investment firm Canary Capital has filed a Spot ETF for the Solana token (SOL) with the U.S. Securities and Exchange Commission (SEC). Previously, the organization had executed similar documents for Litecoin (LTC) and XRP.

Coinbase’s Q3 report

The company’s total revenue for the quarter was $1.21 billion, up 79% year-over-year but down 17% from the previous quarter. Net income attributable to common shareholders totaled $75.46 million.

Kraken laid off 15% of its employees

One of the largest cryptocurrency exchanges, Kraken, announced that it has laid off 15% of its staff, or 400 of its 2,600 employees. As part of the restructuring, a new co-CEO was also appointed.