According to a report by Arcane Research, despite complaints about high gas fees, Ether miners earned more than $3 billion from their Bitcoin counterparts in 2021. "Ether miners made $17 billion in 2021, while Bitcoin miners made $13.6 billion."
Bitcoin Whale Addresses Hit Highest Number of the Year As BTC Rises
Bitcoin whales, defined as large investors holding more than 1000 BTC, continued to buy after the renewed rally of the cryptocurrency this year while fearing that the inflation would get out of control. According to Chainalysis' report, Bitcoin whales accumulated 142,000 BTC last week, bringing their total assets closer to 200,000 the highest amount ever seen this year.
El Salvador's Bukele Announces New Bitcoin Education Project
President Nayib Bukele announced this week that El Salvador would construct 20 “bitcoin schools” using a surplus from its bitcoin fund.
SEC Seeks Comment On Grayscale's GBTC ETF Proposal
The Securities and Exchange Commission (SEC) is taking a closer look at Grayscale's application to convert its Grayscale Bitcoin Fund (GBTC) into a spot bitcoin exchange-traded fund (ETF). On November 2, the SEC released a statement requesting comment on the rule change proposed by NYSE Arca.
Fed: Tapering Will Start This Month
The Federal Reserve will begin reducing its asset purchases from mid-November. At the same time, the central bank stated that it chose to keep interest rates where they are.
Eric Adams Wins NYC Mayoral Election
Democrat Eric Adams, who has said he plans to make New York a "Bitcoin Hub" if elected mayor, has won his race against Republican Curtis Sliwa.
US Congressmen Sent SEC Letter Advocating For Spot Bitcoin ETF
A letter has been sent to Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), written by two US Congressmen, Tom Emmer, and Darren Soto, advocating the approval of a spot Bitcoin exchange-traded fund.
Bitcoin Drops 4% in Fed's Taper Announcement
Bitcoin, the father of cryptocurrencies, fell by about 4% to $ 60,018 after the announcement that the US Federal Reserve will begin to "taper" in November.
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