US SEC rejects Fidelity’s Bitcoin spot ETF

The US Securities and Exchange Commission (SEC) has rejected investment firm Fidelity’s Spot Bitcoin exchange-traded fund (ETF). Over the past few months, the SEC has raised concerns around crypto-related frauds, manipulation, and investor protection.

Crypto prices today: Bitcoin rises 2.5%, ETH up 1.2%

Bitcoin is currently trading at $37,064, a 2.5% increase over the previous day. Ethereum rose 1.2% over the last 24 hours to $2,433. Solana is up 2.5% to $91.2, while Cardano has fallen by 0.85% to $1.04. Polygon (MATIC) has surged 6.4% to $1.65. The global crypto market cap stands at $1.67 trillion, a 2.77% increase over the previous day.

Warner Music plots Metaverse concerts in Ethereum game The Sandbox

Warner Music Group (WMG) is planning a future of virtual concerts within the metaverse. The company has partnered with the upcoming Ethereum game The Sandbox to open a music-themed area within the shared online game world. The record label will use its virtual LAND plots in the game to create a space that serves as both a music-centric amusement park and a venue for concerts by its artists.

Draft bill to give US Treasury power to ban crypto exchanges: Report

As per a report from crypto-centric think tank Coin Centre, the draft version of the America COMPETES Act of 2022 indicated that the Treasury Secretary will get the power to shut down cryptocurrency exchanges. The draft bill advanced out of the House Committee on Science, Space, and Technology earlier this week. The bill applies to all regulated financial institutions in the US and is designed to counter international money laundering.

Bitcoin worth $670M leaves exchanges after hawkish comments by US Fed

Blockchain data provided by Glassnode revealed that more than 18,000 Bitcoin (worth ~$670 million) left centralized exchanges on Thursday, registering the biggest single-day net outflow in over a month. Crypto investors have stepped up Bitcoin accumulation amidst prospects of faster interest-rate hikes from the US Federal Reserve. Increased outflows could signify lower coins available for sale on exchanges and a better chance of the market going up.