Franklin Templeton, an asset manager with up to&nbsp;$1.5 trillion in assets under management (AUM) has&nbsp;filed a 19b-4 for its spot Bitcoin Exchange-traded fund (ETF) application, officially starting the clock with the US Securities and Exchange Commission (SEC).

&nbsp;

Breaking: Franklin Templeton files a 19b-4 for its spot Bitcoin ETF application

One of the most popular non-fungible token (NFT) collections now has toys <a href="https://www.benzinga.com/pressreleases/23/09/n34913494/pudgy-penguins-debuts-toyline-in-major-retail-stores-across-u-s">available</a> in Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) stores. The move comes after the collection was acquired in 2022&nbsp;for 750 Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), or around $2.5 million, and saw its new CEO conduct an <a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29895821/exclusive-why-luca-netz-fell-in-love-with-pudgy-penguins-whats-next-for-nfts">impressive comeback story.</a>

What Happened: NFT and IP brand development company Pudgy Penguins now has plushies and collectibles available at about 2,000 Walmart stores.

Each toy comes with an access code to Pudgy World&nbsp;&mdash; an open-world digital social experience powered by Layer 2 blockchain zkSync Era. In Pudgy World, users will be able to walk around, play games and customize their character.

Every Pudgy Toy comes with a birth certificate and claimable unique traits via a QR code.

&ldquo;Pudgy Penguins is at the forefront of transforming the toy industry, merging unique digital experiences with blockchain technology, like Ethereum and zkSync,&rdquo; Pudgy Penguins CEO Luca Netz said. &ldquo;Walmart&rsquo;s inclusion of Pudgy Toys in their stores is a testament to the evolution of how consumers engage with brands in the digital era.&rdquo;

Netz, who took over Pudgy Penguins last year, was a speaker at Benzinga&rsquo;s 2022 Future of Digital Assets event. Hear Netz at the 2023 Future of Digital Assets, where the Pudgy Penguins CEO will be a <a href="https://www.benzinga.com/events/digital-assets/?UTM_source=article">keynote speaker.</a>

Netz and Pudgy Penguins <a href="https://twitter.com/pudgypenguins/status/1706687055781110013">shared </a>a behind-the-scenes look at the journey of getting in Walmart stores on Tuesday.

&ldquo;The team spent years developing the Pudgy brand and fostering our community through social media and the blockchain; we&rsquo;re thrilled to expand our reach with the support of Walmart.&rdquo;

Walmart stores will carry 26 different toys ranging from Plush Buddies, clip-on Plushies, Igloo Collectibles and Action Figures.

Walmart will also offer several exclusive items, like the Ice Chrome and Gold Chrome action figures found in mystery Igloos.

Some toys will contain a golden ticket, which gives access to a rare trait for the Penguin character in Pudgy World.

Related Link:<a href="https://www.benzinga.com/markets/cryptocurrency/22/12/29999632/exclusive-how-pudgy-penguins-pixel-vault-plan-to-shake-up-web3-trailblazing-as-a-unit"> Exclusive: How Pudgy Penguins Plans To Shake Up Web3</a>

Why It&rsquo;s Important: Pudgy Penguins has generated over $400 million in digital collectible sales and is also one of the few NFT collections that has landed inside retail stores.

In addition to enjoying mass market adoption in Walmart stores, the brand also has toys stocked on Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and inside Five Below Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) stores.

In its launch on Amazon, Pudgy Penguins became a trending toy and saw strong sales upon launch, which likely contributed to the Walmart deal according <a href="https://www.youtube.com/watch?v=cHt3jydM-pc">to</a> Netz.

Pudgy Penguins is &quot;bridging the gap between our physical and digital worlds of play for kids in a really engaging way,&quot; Walmart U.S. VP of merchandising-toys Brittany Smith said. She also praised the collection&#39;s price point, which ranges from $2.99 to $11.97.

Other NFT collections have faded away <a href="https://www.benzinga.com/markets/cryptocurrency/21/06/21621602/90-of-nfts-will-be-worthless-in-5-years-says-coinbase-co-founder">during the bear market</a>, but Pudgy Penguins has grown its community, and social media following. It has also rewarded some of its holders. The company currently has more than 110,000 followers on Twitter and over 870,000 followers on Instagram.

The brand is also well recognized for its use in memes and GIFS, with the brand getting over seven billion GIF views.

In a Twitter post highlighting the toy launch as a &ldquo;Brave New World,&rdquo; Netz said it&rsquo;s important not just for Pudgy Penguins, but for all of Web3. Netz called Tuesday&rsquo;s news a &ldquo;barrier breaker&rdquo; for Web3.

&ldquo;Today it&rsquo;s an amazing day to be a Pudgy Penguin, but it&rsquo;s also an amazing day to be a part of Web3 and NFTs,&rdquo; Netz said. &ldquo;This is a huge step forward to bring people into our industry.&rdquo;

Netz added that the new toys at Walmart are the end of season one of Pudgy Toys, with season two coming soon.

&ldquo;A brave new world is not a destination, it&rsquo;s the beginning of a journey,&rdquo; he said.

Each Penguin Toy uses the IP of an existing NFT and its holder is paid a royalty on sales of the toys. Traits from other NFT collections are also a part of Pudgy World with Meebits, Kanpai Pandas, Creepz, DeGods and other collections featured.

Netz spoke at Benzinga&rsquo;s crypto event last year and shared that Pudgy Penguins was working towards developing the intellectual property and see the Web3 brand start competing with the likes of Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>).

Netz said the company had a goal of plushies, toys, games and appealing to consumers of all ages.

&ldquo;Meet them at their mark,&rdquo; Netz said, referencing Disney. &ldquo;Take market share from them.&rdquo;

Netz left his mark with Benzinga&rsquo;s audience with a <a href="https://twitter.com/Benzinga/status/1600609552721911813">promise </a>that many would say he has accomplished.

&ldquo;2023 will be the year we&rsquo;ll show everyone we&rsquo;re the best project in the space. You can book me on that.&rdquo;

Sales of Pudgy Penguins and Lil Pudgy NFTs saw increased volume and floor prices on Tuesday after the news.&nbsp;

Hear exclusive commentary from Luca Netz and more on the future of Pudgy Penguins. Benzinga&#39;s Future of Crypto 2023 hits New York City on Nov. 14, 2023.<a href="https://www.benzinga.com/events/digital-assets/?UTM_source=article"> Get Tickets Today!</a>

Pudgy Penguins Walmart Debut Marks 'Huge Step Forward' For Web3, NFTs

In a major move towards expanding its European footprint, crypto exchange&nbsp;Kraken has secured authorization from the Central Bank of Ireland as an E-Money Institution (EMI), while&nbsp;the Bank of Spain has recognized the digital assets provider as a <a href="https://www.benzinga.com/markets/cryptocurrency/23/02/30847301/kraken-agrees-to-halt-cryptocurrency-staking-operations-in-sec-settlement">Virtual Asset Service Provider (VASP). </a>

These approvals underscore Kraken&#39;s dedication to enhancing its presence in the European market.

These developments come just in time for discussions on the evolving digital asset landscape at Benzinga&#39;s <a href="https://www.benzinga.com/events/digital-assets/?UTM_source=article">Future of Digital Assets </a>conference on Nov. 14. The event will shed light on the growing influence of crypto platforms like Kraken in the global financial ecosystem.

The EMI license, <a href="https://www.businesswire.com/news/home/20230926591587/en/Kraken-Progresses-European-Expansion-Secures-EU-E-Money-License">awarded</a> to Kraken&#39;s Irish subsidiary, paves the way for the platform to broaden its EUR fiat services in collaboration with European banking entities.

This expansion will cater to clients across the 27 European Union (EU) member states and the European Economic Area (EEA), emphasizing the region&#39;s significance in Kraken&#39;s growth strategy.

In Spain, the newly acquired VASP registration empowers Kraken to provide cryptocurrency exchange services and custodial wallet solutions to the Spanish populace.

This follows Kraken&#39;s recent VASP approvals in Ireland and Italy.

Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34900667/taiwan-regulators-unveil-guiding-principles-to-regulate-digital-assets-crypto">Taiwan Regulators Unveil &#39;Guiding Principles&#39; To Regulate Digital Assets, Crypto</a>

Curtis Ting, Kraken&rsquo;s Vice President of Global Operations, expressed his enthusiasm, stating, &ldquo;Today&rsquo;s announcement marks another important milestone in our European expansion strategy.&rdquo;

He lauded Europe&#39;s progressive regulatory framework, which fosters the crypto industry&#39;s growth. &quot;We are grateful for the constructive approach to regulating industry growth set by the Central Bank of Ireland and the Bank of Spain. In both Ireland and Spain, we are excited to become part of their vibrant local fintech sectors. We also look forward to continuing our investments in Europe more broadly.&quot;

Kraken&nbsp;has been under investigation by the U.S.&nbsp;Securities and Exchange Commission (SEC) over claims that it broke securities rules related to offerings <a href="https://www.benzinga.com/markets/cryptocurrency/23/02/30824857/major-crypto-exchange-kraken-facing-sec-probe-over-securities-violations">made to American clients.</a>

Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34900834/binance-attempts-a-belgium-comeback-just-3-months-after-watchdog-halted-services">Binance Attempts A Belgium Comeback Just 3 Months After Watchdog Halted Services</a>

Meet and engage with transformative&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Digital Asset and Crypto</a>&nbsp;business leaders and investors at Benzinga&#39;s exclusive event -&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Future of Digital Assets</a>. Tickets are flying -&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">get yours</a>!&nbsp;

Photo: Shutterstock

Kraken Marks 'Important Milestone' In Europe: New Licenses For Expanded Fiat, Crypto Services

<ul>
	<li>Bone ShibaSwap price peeked 15% to record an intra-day high of $0.9219, outperforming all meme coins.</li>
	<li>The move has seen BONE break through the key support barrier successfully in the tenth attempt this month.</li>
	<li>It comes as Shiba Inu developers design the Shiba Hub, expected to integrate with the Shibarium network.</li>
</ul>

Bone ShibaSwap (BONE) price is recounting what appears to be a recovery rally, after a 45% slump. The ascent is likely associated with the Shiba Inu ecosystem, whose developers are working to unleash a &ldquo;gateway to something extraordinary,&rdquo; according to Shiba Inu&rsquo;s marketing specialist Lucie Sasnikova.

Also Read: Shiba Inu inspired meme coin BONE notes first rise following the 55% crash in two months

<h2 class="fxs_headline_medium">Bone ShibaSwap price rises on Shiba Inu announcement</h2>

Bone ShibaSwap (BONE) price is up 15%, extending the recovery rally that began on Monday September 25. The move north is supported by the uptick indicated by the Relative Strength Index (RSI), pointing to growing momentum. The position of bulls in this respect is bolstered by the steady flow of green histogram bars on the Awesome Oscillator (AO) as they swiftly move towards the positive side.

If momentum is sustained, Bone Shiba Swap price could extend the gains past the 50-, 100-, and 200-day Exponential Moving Averages (EMA) at $1.0219, $1.0871, and $1.0983 levels respectively. A break and close above these levels could entice more long positions, with the ensuing demand pressure likely to send BONE to tag the supply zone at $1.2299.

<img src="https://editorial.fxstreet.com/miscelaneous/BONEUSDT_2023-09-26_19-23-12-638313518063361901.png" style="width: 950px; height: 470px;">

BONE/USDT 1-day chart

Data from on-chain analytics platform IntoTheBlock shows a steady rise in the number of transactions, recording a 30% rise in 48 hours.&nbsp;

<img src="https://editorial.fxstreet.com/miscelaneous/ITB_bone_number_of_transactions_ethereum_2023-09-26T17_08_32.637Z-638313518222500525.png" style="width: 950px; height: 633px;">

BONE transaction count, IntoTheBlock

This points to a growing interest in the token, an action that increases the odds of a continued move north.&nbsp;

On the downside, early profit-taking remains a threat, with traders who bought BONE at $0.7774 likely to start cashing in at current levels as Bone ShibaSwap price confronts the resistances presented by the EMAs. However, the likelihood of a continued move north supported by the RSI marinating the uptrend and the histograms&rsquo; deep green shade is likely to keep the less conservative traders interested.

If sellers have their say, Bone ShibaSwap price could pull south, with a break and close below $0.7774 invalidating the bullish outlook.

<h3 class="fxs_headline_medium">The Shiba Inu announcement that pumped BONE price</h3>

In a September 26 announcement, Shiba Inu&rsquo;s marketing specialist Lucie Sasnikova revealed plans to deploy an app christened Shiba Hub, intended to revolutionize how people connect, share, and create.



Touted as a &ldquo;gateway to something extraordinary,&rdquo; Shiba Hub will position users at the forefront of innovation, creating something expected to have a lasting impact. The news appears to have boded well for BONE, a meme coin inspired by the Shiba Inu. It happens that the meme coin community, particularly SHIB holders continue to wait for their big break, with the value of the meme coin still regarded as relatively low. BONE is best known for being a token of the Shiba Inu ecosystem.&nbsp;


<div data-cnt-module-topic="crypto-metrics" data-cnt-module-type="faq" id="content-module-faq-crypto-metrics"><script async="" src="https://cdn.ampproject.org/v0.js"></script><script async="" custom-element="amp-accordion" src="https://cdn.ampproject.org/v0/amp-accordion-0.1.js"></script>
<div class="fxs-content-module-wrapper">
<h2 class="fxs-content-module-title">Cryptocurrency metrics FAQs</h2>
<amp-accordion animate="" class="fxs-content-module-container">
<section class="fxs-content-module-section" expanded="">
<h3 class="fxs-content-module-header">What is circulating supply?</h3>

The developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued. Only a certain number of these assets can be minted by mining, staking or other mechanisms. This is defined by the algorithm of the underlying blockchain technology. Since its inception, a total of 19,445,656 BTCs have been mined, which is the circulating supply of Bitcoin. On the other hand, circulating supply can also be decreased via actions such as burning tokens, or mistakenly sending assets to addresses of other incompatible blockchains.
</section>

<section class="fxs-content-module-section">
<h3 class="fxs-content-module-header">What is market capitalization?</h3>

Market capitalization is the result of multiplying the circulating supply of a certain asset by the asset&rsquo;s current market value. For Bitcoin, the market capitalization at the beginning of August 2023 is above $570 billion, which is the result of the more than 19 million BTC in circulation multiplied by the Bitcoin price around $29,600.
</section>

<section class="fxs-content-module-section">
<h3 class="fxs-content-module-header">What is trading volume?</h3>

Trading volume refers to the total number of tokens for a specific asset that has been transacted or exchanged between buyers and sellers within set trading hours, for example, 24 hours. It is used to gauge market sentiment, this metric combines all volumes on centralized exchanges and decentralized exchanges. Increasing trading volume often denotes the demand for a certain asset as more people are buying and selling the cryptocurrency.
</section>

<section class="fxs-content-module-section">
<h3 class="fxs-content-module-header">What is funding rate?</h3>

Funding rates are a concept designed to encourage traders to take positions and ensure perpetual contract prices match spot markets. It defines a mechanism by exchanges to ensure that future prices and index prices periodic payments regularly converge. When the funding rate is positive, the price of the perpetual contract is higher than the mark price. This means traders who are bullish and have opened long positions pay traders who are in short positions. On the other hand, a negative funding rate means perpetual prices are below the mark price, and hence traders with short positions pay traders who have opened long positions.
</section>
</amp-accordion></div>
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Bone ShibaSwap price peeks 15% as Shiba Inu ecosystem unleashes ‘gateway to something extraordinary’

Breaking: WisdomTree files for Bianco Total Return ETF

JP Morgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), the prominent banking institution, decided to halt cryptocurrency-related transactions for its U.K. clientele starting&nbsp;Oct. 16, according to&nbsp;a recent communication to its users.

The bank stated, &quot;If we think you&#39;re making a payment related to crypto assets, we&#39;ll decline it,&quot; suggesting&nbsp;patrons keen on crypto investments might need to explore other banking alternatives, Coindesk <a href="https://www.coindesk.com/policy/2023/09/26/chase-uk-to-block-crypto-payments-citing-fraud-scams/?utm_medium=social&amp;utm_source=onecryptofeed&amp;utm_campaign=headlines">reported</a>.

This move by Chase comes ahead of the much-anticipated Benzinga&#39;s <a href="https://www.benzinga.com/events/digital-assets/?UTM_source=article">Future of Digital Assets</a> conference on Nov. 14, where such industry shifts are likely to be discussed.

Many U.K. banks have already been traditionally wary of cryptocurrency transactions, often restricting or outright blocking access for their customers.

This cautious stance has been so prevalent that the Financial Conduct Authority (FCA), the U.K.&#39;s financial regulatory body,&nbsp;had to mediate dialogues between banks and cryptocurrency entities due to the banking sector&#39;s hesitancy in serving the crypto industry.

Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34905989/fhenix-secures-7m-funding-aims-to-bolster-privacy-on-public-blockchains">Fhenix Secures $7M Funding, Aims To Bolster Privacy On Public Blockchains</a>

Chase&#39;s decision, as detailed in the communication reviewed by CoinDesk, stemmed&nbsp;from concerns over rising fraudulent activities linked to cryptocurrencies.

The bank expressed that malefactors are increasingly exploiting digital assets to defraud individuals of substantial amounts.

Echoing the sentiments of other U.K. banks that have implemented similar restrictions, a Chase U.K. representative mentioned, &ldquo;We&rsquo;re committed to helping keep our customers&rsquo; money safe and secure. We&rsquo;ve seen an increase in the number of crypto scams targeting U.K. consumers, so we have taken the decision to prevent the purchase of crypto assets on a Chase debit card or by transferring money to a crypto site from a Chase account.&rdquo;

Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34900667/taiwan-regulators-unveil-guiding-principles-to-regulate-digital-assets-crypto">Taiwan Regulators Unveil &#39;Guiding Principles&#39; To Regulate Digital Assets, Crypto</a>

Meet and engage with transformative&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Digital Asset and Crypto</a>&nbsp;business leaders and investors at Benzinga&#39;s exclusive event:&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Future of Digital Assets</a>. Tickets are flying:&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Get yours</a>!&nbsp;

Photo: Shutterstock

Chase's Crypto-Related Transactions Ban In UK: A Sign Of The Times — Or A Sign Of Weakness?

What happened: On Monday a total of 2,720.56 Ether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) worth $4,315,113, based on the current value of Ethereum at time of publication ($1,586.11), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.
Why it matters: On August 5th, 2021, the Ethereum blockchain implemented an important upgrade known as EIP-1159. This Ethereum improvement proposal changed the fee model drastically. Now each transaction includes a variable base fee that adjusts according to the current demand for block space. This base fee is burned, or permanently removed from circulation, lowering the supply of Ether forever.
See Also: <a href="https://www.benzinga.com/money/how-to-buy-ethereum/">How to Buy Ethereum</a> &amp; <a href="https://www.benzinga.com/money/when-will-eth2-launch/">When Will Ethereum 2.0 Launch</a>
Ethereum is currently issuing new Ether at a rate of 4% per year, although this is expected to decrease to around 0.5-1% as a part of the Ethereum 2.0 upgrade. Once this occurs, many speculate that the burn rate of Ether will be greater than the token's issuance, causing ETH to become a deflationary currency.
The net annualized issuance rate for Ether yesterday was -0.66%.
Data provided by <a href="https://glassnode.com/">Glassnode</a>

2,720 ETH Worth $4M Was Just Burned

<ul>
	<li>Bitcoin Ordinals developer Casey Rodarmor came up with Runes as a means of eliminating the proliferation of unspent tokens on the network.</li>
	<li>Runes is aimed at bringing significant transaction fee revenue, developer mindshare, and users to Bitcoin.</li>
	<li>Ordinals have seen a massive drawdown in the unique users from the peak of 15k in June to less than a thousand at the moment.</li>
</ul>

Bitcoin in the Decentralized Finance (DeFi) space noted stellar growth earlier this year when the network witnessed the arrival of the BRC-20 standard. Akin to Ethereum&rsquo;s ERC-20 standard, BRC-20 allowed the creation of fungible tokens on the network through the Ordinals protocol. However, the creator of the protocol is now suggesting a new standard in place of BRC-20.

<h2 class="fxs_headline_medium">Bitcoin BRC-20 could be replaced by Runes</h2>

Bitcoin Ordinals&rsquo; developer, Casey Rodarmor, published a post on September 25 highlighting the potential alternative to the BRC-20 token standard called &ldquo;Runes&rdquo;. The need for Runes, according to Rodarmor, arose from the need to eliminate the UTXO proliferation caused by BRC-20.&nbsp;

UTXO, also known as Unspent Transaction Output, is basically units of the digital currency remaining after a transaction is completed. Since BRC-20 is not UTXO-based, the increased demand and creation of fungible tokens have resulted in a sudden increase in the UTXOs.&nbsp;

To deal with this, Runes balances would be designed to be held on UTXOs, allowing a single Unspent Transaction Output to hold any amount of any number of Runes. This way, the UTXO proliferation can be responsibly managed in return, creating a fungible token protocol that might bring significant transaction fee revenue, developer mindshare, and users to Bitcoin.

Rodarmor claimed that such a protocol would very easily fit into Bitcoin&rsquo;s native UTXO model. He added,

<blockquote>
&ldquo;Such a scheme might draw users from other schemes with worse on-chain footprints, and bring developer and user mindshare to Bitcoin, encouraging them to adopt Bitcoin itself.&rdquo;
</blockquote>

<h3 class="fxs_headline_medium">Bitcoin Ordinals continue to lose traction</h3>

Bitcoin Ordinals peaked around May this year but started to lose ground sometime towards the beginning of June. The marketplaces began losing daily users, and at the time of writing, over 93% of the unique daily users had disappeared. At its peak, these users amounted to more than 15K, while presently, less than 1,000 unique daily users have been registered on the Ordinals marketplace.

<img alt="Bitcoin Ordinals daily unique users" src="https://editorial.fxstreet.com/miscelaneous/image-638313446517458526.png" style="width: 950px; height: 502px;">

Bitcoin Ordinals daily unique users

The current condition of the crypto market is arguably not enticing to users or investors. However, from a technical perspective, if Runes manages to draw the attention of developers, it could have a positive impact on the course of Bitcoin DeFi.

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Bitcoin Ordinals creator proposes “Runes”, a replacement for BRC-20 standard

In a recent analysis, experts raised concerns about the potential vulnerabilities in the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) market due to leveraged long positions that lack <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34765629/crypto-analyst-predicts-bitcoin-collapse-warns-of-calm-before-the-storm-in-global-financia">adequate spot buying support.</a>

The analysis came&nbsp;at a crucial time, especially as discussions around the future of digital assets gain momentum.

Such insights will undoubtedly be a topic of interest at the upcoming Benzinga&#39;s <a href="https://www.benzinga.com/events/digital-assets/?UTM_source=article">Future of Digital Assets</a> conference on Nov. 14, where industry experts will delve into the evolving landscape of cryptocurrencies.

Bitfinex&#39;s report highlighted more than $44 million in Bitcoin futures positions were liquidated last Monday, with the spot price experiencing a swing of over $1,000.

This volatility is significant, especially considering the $30 million in short liquidations, a number that stands out given the recent period of low volatility.

September historically was a bearish month for Bitcoin. However, this year,&nbsp;the month is poised to end on a positive note, potentially setting an optimistic tone for October. While leveraged long positions have tried to push the price upwards, the lack of spot market buying has hindered any substantial upward trajectory.

Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34900834/binance-attempts-a-belgium-comeback-just-3-months-after-watchdog-halted-services">Binance Attempts A Belgium Comeback Just 3 Months After Watchdog Halted Services</a>

The <a href="https://blog.bitfinex.com/wp-content/uploads/2023/09/Bitfinex-Alpha-73.pdf">analysis</a> also pointed out the occurrence of several &quot;long squeezes&quot; since late August, indicating a potentially over-leveraged bullish sentiment.

The increased spot buying activity in September might provide the necessary support for continued bullish momentum.

While the crypto market showed&nbsp;signs of resilience and growth, Bitfinex&#39;s analysts cautioned traders about the risks associated with over-leveraged positions, emphasizing the need for sufficient spot buying to maintain a stable market foundation.

&ldquo;Over the past week, we have been observing a situation where leveraged long positions in the perpetual swap markets have attempted to drive the price higher, but have been unsuccessful due to insufficient spot market buying support. Leveraged long positions without sufficient spot buying can often lead to a vulnerable state, making these positions susceptible to being liquidated or &#39;squeezed out&#39;&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34797563/ethereumbitcoin-pair-could-crash-to-0-03200000-btc-analyst-warns">during market volatility</a>,&quot; the analysts stated.

Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34900667/taiwan-regulators-unveil-guiding-principles-to-regulate-digital-assets-crypto">Taiwan Regulators Unveil &#39;Guiding Principles&#39; To Regulate Digital Assets, Crypto</a>

Meet and engage with transformative&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Digital Asset and Crypto</a>&nbsp;business leaders and investors at Benzinga&#39;s exclusive event:&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Future of Digital Assets</a>. Tickets are flying:&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Get yours</a>!&nbsp;

Photo: Shutterstock

Is the Bitcoin Market Overheated, Overleveraged? Why These Analysts Are Caution Traders

Certain crypto exchanges are boasting about their licenses and daily trading volume, but their claims appear suspect.

That&#39;s according to <a href="https://cointelegraph.com/news/coinmarketcap-listed-platform-hides-license-after-inquiry">Cointelegraph</a>, which has been looking into the matter of whether Bitspay and other companies are truly regulated.

What Happened: Estonia&#39;s&nbsp;Financial Intelligence Unit (FIU) confirmed to the outlet that Bitspay doesn&#39;t hold a valid license to operate in the country.

At one point, Bitspay insisted that it was regulated under the Estonian &ldquo;Anti Money Laundering Counter-Terrorism Financing Act 2019.&quot; Founder and CEO Kelly Nova then clarified to Cointelegraph that the startup was currently working on attaining licenses in both Estonia and the U.K.

Why It Matters: The dubious nature of crypto licenses is an ongoing concern within the crypto industry, as is the veracity of daily trading volume.

Bitspay, for example, claimed to handle up to $1.4 billion in daily trading volume on CoinMarketCap.

The true trading volume at both Topcredit and Bika has also been scrutinized. 
Find out more on crypto exchanges. Meet and engage with transformative&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" target="_blank">Digital Asset and Crypto</a>&nbsp;business leaders and investors at Benzinga&#39;s exclusive event &mdash; <a href="https://www.benzinga.com/go/crypto-conference-article-link" target="_blank">Future of Digital Assets</a>. Tickets are flying &mdash; <a href="https://www.benzinga.com/go/crypto-conference-article-link" target="_blank">get yours</a>!

Meanwhile, Binance has deregistered its Europe entities, Cyprus and U.K. It also closed its Netherlands operations after failing to receive a local license. Its German license application was also dropped.

The company has, however, resumed operations in Belgium after the country&#39;s Financial Services and Markets Authority required the exchange to suspend services and return customer holdings back in June mainly due to operating <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34900834/binance-attempts-a-belgium-comeback-just-3-months-after-watchdog-halted-services">without required regulatory licenses</a>.

Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34335978/taiwan-polishes-crypto-regulations-plans-to-ban-non-compliant-offshore-exchanges">Taiwan Polishes Crypto Regulations, Plans To Ban Non-Compliant Offshore Exchanges</a>

Image: Shutterstock

Crypto Exchanges Bypass Proper Licenses, Exaggerate Daily Trading Volume: Report

FTX (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ftt/usd">FTT</a>) founder Sam Bankman-Fried&nbsp;has once again sought a provisional release from <a href="https://www.benzinga.com/markets/cryptocurrency/23/01/30393494/top-4-craziest-things-sam-bankman-fried-laid-bare-in-his-new-substack">detention during his ongoing trial.</a>

This development, garnering attention from the crypto community, is expected to be a topic of discussion at Benzinga&#39;s <a href="https://www.benzinga.com/events/digital-assets/?UTM_source=article">Future of Digital Assets</a> conference on Nov. 14.

Bankman-Fried&#39;s bail was first rescinded in August, leading to his incarceration after the court believed he might have attempted to influence witnesses.

His plea to reverse this decision on Sep. 12 was turned down, and a subsequent appeal on Sep. 21 also faced rejection.

However, his attorneys, in a <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.288.0.pdf">letter </a>to the presiding judge,&nbsp;highlighted that the court hasn&#39;t completely shut the door on future applications from the defense.

They emphasized the challenges they face in trial preparations, acknowledging the government&#39;s efforts in supplying them with necessary case resources.

The defense team pointed to the daunting task of sifting through a list of over 50 potential witnesses, thousands of documents, and more than 1,300 exhibits provided by the government.

They expressed concerns about not knowing the sequence in which these witnesses would be called, making it tough to strategize for &quot;the subsequent day&#39;s testimonies and evidence during the non-court hours.&quot;

The latest plea proposes Bankman-Fried&#39;s release on Oct. 2, a day prior to his trial, with five stipulations he commits to follow.

Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34900667/taiwan-regulators-unveil-guiding-principles-to-regulate-digital-assets-crypto">Taiwan Regulators Unveil &#39;Guiding Principles&#39; To Regulate Digital Assets, Crypto</a>

Outside the courtroom, he will either be at his lawyers&#39; offices, an external workspace, or under the watch of a security guard in a temporary NYC residence.

He will only leave the court premises with his legal team and will work alongside them in preparation for the trial. Furthermore, Bankman-Fried agrees to a communication restriction, limiting his interactions to only his legal team, parents, and siblings throughout the trial.

Starting from 10 p.m., private security personnel will monitor him to ensure he stays away from any electronic devices, including computers and phones.

This comes after previous disagreements between the defense and prosecution regarding <a href="https://www.benzinga.com/markets/cryptocurrency/23/03/31207300/flip-it-and-restrict-it-ftx-founder-sam-bankman-frieds-bail-conditions-include-non-interne">Bankman-Fried&#39;s laptop access.</a>

Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34872747/htx-crypto-exchange-suffers-8m-eth-heist-justin-sun-offers-hacker-a-job-or-legal-action">HTX Crypto Exchange Suffers $8M ETH Heist: Justin Sun Offers Hacker A Job Or Legal Action</a>

Meet and engage with transformative&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Digital Asset and Crypto</a>&nbsp;business leaders and investors at Benzinga&#39;s exclusive event -&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Future of Digital Assets</a>. Tickets are flying -&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">get yours</a>! 
Photo: Wikimedia

Sam Bankman-Fried's Latest Bail Plea: Strict Monitoring, Communication Restrictions

Since launching the entertainment company and non-fungible token collection VeeFriends in 2021, serial entrepreneur Gary Vaynerchuk&nbsp;(aka Gary Vee) has partnered the brand with top companies like Johnnie Walker, Fanatics, Mattel Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>), Macy&rsquo;s, Reebok&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/07/33348806/veefriends-partners-with-squishmallows-how-you-can-get-a-toy-from-companies-owned-by-gary-">and Squishmallows.</a>

On Tuesday, VeeFriends announced a new partnership with Mattel that will see Vee&rsquo;s brand collaborate with a popular toy brand.

What Happened: The partnership will see the iconic Masters of the Universe brand, which is well-known for its He-Man and Skeletor characters, materialize with a VeeFriends character. Mattel and VeeFriends are partnering on a new launch that will bring the Skilled Skeleton character to life for the first time as part of a physical collectible.

Skilled Skeleton is a &ldquo;character who symbolizes VeeFriends&rsquo; mission to inspire optimism, accountability and kindness.&rdquo;

The Skilled Skeleton figure glows in the dark and has six swappable hands, a removable hood and removable armor.

The Masters of the Universe Skeletor figure comes with three swappable heads, has five swappable hands, and several accessories. The heads from Skilled Skeleton and Skeletor are interchangeable.

Two-packs of the characters are sold for $45 each and available on the Mattel Creations <a href="https://shop.mattel.com/">website </a>beginning Oct. 6, 2023 at 12 p.m. ET. The two-pack comes with sliding slipcovers for display and a mini-comic featuring the characters.

Owners of VeeFriends digital collectibles can display an exclusive Snake Mountain background behind their VeeFriends character.

&ldquo;Gary&rsquo;s innate passion and connection to the brand is one of the many reasons we were excited to collaborate with his forward-thinking 1company,&rdquo; Mattel VP and Head of Action Figures PJ Lewis said. &ldquo;This collaboration allows us to connect to our Masters of the Universe fans in a new and exciting way while continuing to expand the audience for our best-in-class action figures with Gary&rsquo;s VeeFriends fanbase.&rdquo;

Mattel and VeeFriends <a href="https://www.benzinga.com/markets/cryptocurrency/21/12/24677878/veefriends-uno-collaboration-sells-out-in-one-hour">previously collaborated </a>with the UNO brand.&nbsp;

Related Link: <a href="https://www.benzinga.com/news/earnings/23/07/33404437/mattel-q2-earnings-highlights-barbie-foreshadows-future-movie-monetization">Mattel Q2 Earnings Highlights: Barbie Foreshadows Future Movie Monetization</a>&nbsp;

Why It&rsquo;s Important: VeeFriends NFTs launched in May 2021 with a subsequent collection called VeeFriends Series 2 launching in April 2022.

&ldquo;This is my Disney. This is my Pokemon,&rdquo; Vee <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/22936501/gary-vee-nft-artwork-will-be-auctioned-at-christies-what-you-should-know">previously said</a> about building the VeeFriends brand.



The collaboration with Mattel is one of several undertaken by the VeeFriends brand, which boasts over 200 characters that were personally hand-drawn and created by Vee.

&ldquo;Partnering with such an iconic figure like Skeletor feels extremely surreal; this character is a touchstone for all of us from the Gen X era,&rdquo; Vee said. &ldquo;I&rsquo;m excited to collaborate once again with Mattel following our incredibly successful VeeFriends UNO collaboration.&rdquo;

Vee called Masters of the Universe one of his favorite communities in the world.

&ldquo;I hope everyone enjoys these special edition toys as much as the team and I have had in creating them. The Mattel team did an incredible job bringing this amazing toy to life.&rdquo;

The VeeFriends series one NFTs have a floor <a href="https://opensea.io/collection/veefriends">price </a>of 1.75 Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), or around $2774.23 at the time of writing. The Series 2 NFTs have a floor <a href="https://opensea.io/collection/veefriends-series-2">price </a>of 0.11 ETH.

There are 40 Skilled Skeletons NFTs in series one, with none currently listed for sale on OpenSea. The series 2 collection has 220 Skilled Skeleton NFTs, with one listed for 1.4 ETH.

Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/23/08/33549346/veefriends-reebok-collaborate-on-sneakers-featuring-nft-character-how-you-can-get-a-pair">VeeFriends, Reebok Collaborate On Sneakers Featuring NFT Character: How You Can Get A Pair&nbsp;</a>

Hear from non-fungible token companies and marketplaces on what the future holds for digital collectibles.&nbsp;Benzinga&#39;s Future of Crypto 2023 hits New York City on Nov. 14, 2023.&nbsp;<a href="https://www.benzinga.com/events/digital-assets/?UTM_source=article" target="_blank">Get Tickets Today!&nbsp;</a>

Photo:&nbsp;VeeFriends

VeeFriends Teams Up With Mattel To Bring Skeletor And NFT Character To Life: Gary Vee Calls Collaboration 'Surreal'

Blockchain platform Fhenix clinched <a href="https://www.benzinga.com/topic/venture-capital">$7 million in venture capital</a>.

Multicoin Capital and Collider Ventures led the seed funding round. A host of other investors, including Node Capital, Bankless, HackVC, TaneLabs, and Metaplanet, joined the effort.

The capital infusion will be used to launch the Fhenix Network&#39;s public testnet in the upcoming year and bolstering ecosystem application development.

The significance of such advancements in the blockchain sector will be a key topic of discussion at <a href="https://www.benzinga.com/events/digital-assets/?UTM_source=article">Benzinga&#39;s Future of Digital Assets</a> conference on Nov. 14. The event promises to shed light on the evolving dynamics of digital currencies and the challenges they present in the global arena.

&quot;Fhenix addresses a significant gap in the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) ecosystem by ensuring encryption for commercially sensitive data,&quot; startup founder Guy Zyskind said.

Zyskind, who is also the founder and CEO of SCRT Labs, emphasized Fhenix&#39;s ability to instill confidence in users to store sensitive data on public blockchains and provide developers with the tools to compute and transform that data.

Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34829621/this-altcoin-is-hanging-on-to-dear-life-crypto-analyst-warns">This Altcoin Is &#39;Hanging On To Dear&#39; Life, Crypto Analyst Warns</a>

The Fhenix platform operates on the fhEVM, an extension set for the Ethereum Virtual Machine (EVM), enabling developers to effortlessly integrate FHE into their workflows.

This protocol, originally crafted by cryptography firm Zama, was integrated into the Fhenix Network through a strategic alliance.

After launching a private devnet in July, Fhenix is gearing up to unveil &quot;Renaissance&quot;, its official public testnet, in the first half of 2024.

This initiative is poised to serve as a sandbox for developers, aiming to foster a vibrant ecosystem that accelerates the adoption of fully homomorphic encryption (FHE) technology across the blockchain domain.

Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34825761/ethereum-network-activity-rather-disappointing-after-shanghai-upgrade-jpmorgan">Ethereum Network Activity &#39;Rather Disappointing&#39; After Shanghai Upgrade: JPMorgan</a>

Meet and engage with transformative&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Digital Asset and Crypto</a>&nbsp;business leaders and investors at Benzinga&#39;s exclusive event &mdash;&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Future of Digital Assets</a>. Tickets are flying&nbsp;&mdash; <a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">get yours</a>!

Image: Pixabay

Fhenix Secures $7M Funding, Aims To Bolster Privacy On Public Blockchains

Post the launch of Shibarium in mid-August, Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SHIB</a>) chief market strategist Lucie took to X (Twitter) to highlight the Shiba Hub launch, which will remodel the decentralized applications (Dapps) landscape <a href="https://www.benzinga.com/topic/shiba-inu">for the ecosystem.</a>

She also indicated that it is not an ordinary app but something extraordinary that will change the way users connect, share, and create, adding that innovation of the highest level will be the app&rsquo;s uniqueness.

Lucie added, &ldquo;Because greatness takes time, but the rewards are immeasurable.&rdquo;

Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34840338/shiba-inu-spikes-sharply-on-rising-volume-whats-going-on">Shiba Inu Spikes Sharply On Rising Volume: What&#39;s Going On</a>

The tweet also highlights the launch of an &quot;incredible graphic&quot; in Shiba Hub within the Shibarium ecosystem very soon.

<blockquote class="twitter-tweet">
Shiba Hub is not just another app. It&#39;s a gateway to something extraordinary. 
 
Imagine being part of a community that is revolutionizing the way we connect, share, and create. 
 
With Shiba Hub, you have the opportunity to be at the forefront of innovation, to be part of&hellip; <a href="https://t.co/GFzoqYRxxa">pic.twitter.com/GFzoqYRxxa</a>
&mdash; &#x7C; Shibarium (@LucieSHIB) <a href="https://twitter.com/LucieSHIB/status/1706591112952004826?ref_src=twsrc%5Etfw">September 26, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Find out more about Shiba Inu and many other tokens. Meet and engage with transformative&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" target="_blank">Digital Asset and Crypto</a>&nbsp;business leaders and investors at Benzinga&#39;s exclusive event -&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" target="_blank">Future of Digital Assets</a>. Tickets are flying -&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" target="_blank">get yours</a>!

In the past 1-month, Shiba Inu has fallen 10.4%, while in one year the token eroded 33.5% in value.

Why Does It Matter?

Shiba Inu&rsquo;s lead developer Shytoshi Kusama at the Shiba Inu Blockchain Futurist Conference Keynote said, &ldquo;Shiba Hub is the perfect place for John&rsquo;s idea to Blossom,&rdquo; as <a href="https://coingape.com/shiba-inu-shiba-hub-dapp-development/">reported </a>by CoinGape. He further showcased the platform&rsquo;s drag-and-drop module builder, enabling users to create experiences that integrate &quot;self-sovereign identity blockchain and other bespoke Dapps on the Hub.&quot;

Shiba Hub will enhance the Shibarium experience with customizations available for preferred features, protocols, projects, and connections for users. Also, digital interactions will be in focus, with individual control and privacy given the highest importance.

Shibarium is a layer 2 scaling solution on the mainnet which is expected to enhance the performance and capabilities of the existing tokens &ndash; SHIB, BONE, and LEASH&nbsp;&ndash; in the Shiba Inu ecosystem.

Read More: <a href="https://www.benzinga.com/markets/cryptocurrency/23/08/33887844/shiba-inu-drives-massive-342m-burn-as-shibarium-finally-launches-after-much-back-and-forth">Shiba Inu Drives Massive $342M Burn As Shibarium Finally Launches After Much Back And Forth</a>

Photo: Shutterstock

Shiba Inu Launches Innovative Shiba Hub With Focus On Individual Control, Privacy

Over the past 24 hours, Maker's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/mkr/usd">MKR</a>) price has risen 4.17% to $1,331.88. This continues its positive trend over the past week where it has experienced a 5.0% gain, moving from $1,265.02 to its current price. As it stands right now, the coin's all-time high is $6,292.31. 
The chart below compares the price movement and volatility for Maker over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
<img src="https://www.benzinga.com/files/images/story/2023/1695740431_0.png" alt="price_chart" />

The trading volume for the coin has increased 13.0% over the past week. while the overall circulating supply of the coin has decreased 0.04% This puts its current circulating supply at an estimated 89.63% of its max supply, which is 1.01 million. The current market cap ranking for MKR is #40 at $1.20 billion.
<img src="https://www.benzinga.com/files/images/story/2023/1695740432_1.png" alt="supply_and_vol" />

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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