🦎🚀 Wen Ferrari? 🚗💨

Monday, October 16, 2023

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It's Coming Home

Communication between fund managers and the Securities and Exchange Commission regarding spot Bitcoin ETFs is reportedly becoming more constructive.

According to Bloomberg analysts James Seyffart and Eric Balchunas, a recent update to the spot Bitcoin ETF prospectus from Ark and 21Shares suggests a positive dialogue with the SEC.

Furthermore, the SEC has chosen not to appeal the Grayscale ruling, potentially paving the way for the first Bitcoin ETF in the U.S.

In today's news, Arbitrum's Short-Term Incentive Program (STIP) grants concludes, Ferrari to accept cryptocurrencies and some new faces in the social-fi field!

Read on!

🚨🚨🚨

The Gecko team will be away for our company trip for the rest of the week - so we'll be back with the latest crypto news and updates next Monday, 23rd October 2023! Have a good week!🦎

What Can 1 BTC Buy in 2023?

In July 2023, Bitcoin reached its highest value for the year so far, at $31,446.

However, Netflix's new password-sharing ban and extra member fee meant that 1 BTC could only purchase 47 years of subscription, down from 199 years in 2022.

Read more here

24h Hot Searches Worldwide 🔥

CryptoPawCoin (-11.2%)
inSure DeFi (+0.4%)
Big Time (+2.8%)
Kujira (+15.7%)
Arbdoge AI (-3.0%)
Verasity (-3.6%)
TrueFi (+2.6%)

Traditional brick-and-mortar banks may be slow with crypto adoption, but many digital-only neobanks have rushed to fill in this gap. Learn about the top crypto-friendly online banks over here!

Watch here!

Grant Approved

The first round of voting for Arbitrum's Short-Term Incentive Program (STIP) grants has concluded, with 29 projects set to collectively receive 49.6 million ARB tokens, valued at around $40 million.

The largest grant recipient is the perpetual trading protocol GMX, which is approved to receive 12 million ARB (equivalent to $15 million). Decentralized exchange Camelot received the most votes, while the liquid staking solution Lido Finance was one of the major projects that did not receive a grant.

CoinDesk

Vroom Vroom!

Ferrari is set to accept cryptocurrency as a payment method for its luxury cars in the U.S., with plans to expand this payment option to Europe in the near future.

This move was prompted by market demand and requests from dealers, as many of Ferrari's clients have invested in cryptocurrencies, according to the company.

Decrypt

Say Hello To The New Faces In Town

Social finance protocols Tomo and New Bitcoin City have each accumulated more than $1 million in total value locked in their smart contracts, according to data from DefiLlama.

These protocols share similarities with FriendTech, which operates on the Base blockchain and was a pioneer in the fusion of social media with financial elements. FriendTech introduced the concept of gated communities where users must purchase keys to access group chats, with the price of these keys increasing with each purchase.

The Block

Top 10 On-chain Trending Pools: