Morgan Stanley's Bitcoin ETF Could Attract $160 Billion, Says Strategy CEO

Strategy has continued its Bitcoin buying spree, scooping up 8,178 BTC for $835.6 million. The Bitcoin treasury firm now holds 649,870 BTC worth just under $61 billion at current prices, and acquired for around $48.37 billion.

A wave of new XRP ETFs is expected to be approved by the US government, with Wall Street players like Grayscale and ProShares preparing to launch XRP funds. XRP's price is predicted to surge by 21% to $2.75 in November due to cross-border liquidity flows and stablecoin initiatives.

Bitcoin's recent drop to $93,029 led to $579 million in liquidations, triggering a 'Death Cross' signal. The market is in 'Extreme Fear,' with experts predicting heightened volatility and consolidation.

A Cardano user lost $6 million due to slippage when attempting to swap ADA tokens for USDA stablecoin. The low liquidity on the exchange caused the user to receive significantly less than expected, highlighting the risks of decentralized finance.

SGX Derivatives will introduce Bitcoin and Ethereum perpetual futures on Nov. 24, aiming to merge global derivatives market trust with crypto's flexibility. Perpetual futures, popular among crypto traders, offer non-expiring positions and generate over $187 billion in daily volumes worldwide.

Traders on Polymarket earned 10x their money on a rumor that Michael Saylor's Strategy had sold Bitcoin, causing panic bets with odds reaching up to 45%. Saylor clarified that no BTC was sold, but Strategy's stock has underperformed BTC for 28 months.

Michael Saylor denied rumors of Strategy selling Bitcoin, expressing the firm's continuous appetite for BTC despite recent price drops. Speculations arose from on-chain movements suggesting Strategy might be using Coinbase as a custodian.

Newly released emails from Jeffrey Epstein's estate reveal his concerns about U.S. tax policy on cryptocurrency, seeking advice from Steve Bannon. Epstein recommended creating a disclosure form for crypto gains to combat illicit activities, showing a keen interest in Bitcoin and crypto regulations.

Chi Tsang has been appointed as the new CEO and board member of BitMine Immersion Technologies, a leading Ethereum treasury company with over $11 billion in cryptocurrency. The company also added three new board members, aiming to position itself as a bridge between traditional capital markets and the Ethereum ecosystem.

Nevin Shetty, a former CFO, was convicted of wire fraud for misusing $35 million from his employer to invest in a failed crypto venture. Despite initial profits, the crypto market crash in May 2022 caused the investments to plummet in value.