Crypto Trends Weekly Nov. 13 – 19

Breaking crypto news from the last week (Nov. 13 – 19, 2021):

Nov. 13: The US Securities and Exchange Commission (SEC) has rejected a proposal to launch a spot Bitcoin exchange-traded fund (ETF) that would actively track the price of BTC. Cboe BZX exchange had applied back in March; however, the SEC stated that not enough was done to protect investors from fraudulent trading.

Nov. 14: AMC theater chain has revealed that it is starting to let moviegoers in the United States pay for their tickets and snacks in Bitcoin and other cryptocurrencies.

Nov. 15: Cryptocurrencies are replacing gold as means of protection against inflation, has recognized Goldman Sachs’s Head of Energy Research, Damian Courvalin, noting the flight of investments to the crypto market from the precious metal.

Nov. 16: Miramax is suing Quentin Tarantino over his recently announced plans to sell seven non-fungible tokens (NFTs) of the highly acclaimed film “Pulp Fiction.”

Nov. 17: The leading crypto exchange globally, Binance, has issued a call for a global regulatory framework for crypto markets. It also released ten fundamental rights for crypto users, stating that they could guide them during regulatory discussions and develop a regulatory framework.

Nov. 18: Although the Bitcoin price dropped by nearly 20% in the last seven days, long-term Bitcoin investors, who bought at 2017 highs, have still not sold, Hold Waves’ data shows.

84% of UAE consumers know about cryptocurrencies, with about half of them seeing crypto as an alternative to cash. Despite the impact of the pandemic, the survey conducted by Visa reveals that consumers in the UAE are gaining confidence in their shopping behaviors towards the local merchants, digital payments, online shopping, and cryptocurrencies.

Nov. 19: US Payment giant Square released Friday the whitepaper of its decentralized Bitcoin exchange proposal (tbDEX). Jack Dorsey’s tbDEX is proposed to offer a direct way for people to convert their fiat into Bitcoin without having to go through multiple platforms.

Acala, an Ethereum-compatible DeFi protocol for scaling DApps, has secured first place in Polkadot’s parachain auctions, with over 81,000 stakeholders locking up their funds in the crowd loan. As a result, the upcoming Polkadot DeFi hub raised nearly $1.3 billion from approximately 25,000 contributors in its token ICO.