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Crypto Market Weekly Summary: November 1 - November 6, 2021

Crypto Market Highlights

  • U.S. Stablecoin report released - recommends broad legislative action to regulate stablecoin issuers, including enacting deposit insurance requirements

  • CME expected to launch micro ether futures on December 6, 2021

  • Federal Reserve tapers bond purchases by $15 billion each month with interest rates remaining unchanged

  • Senator Toomey promises to fix flawed crypto brokerage language in Infrastructure Bill

  • NYC Mayor-Elect Eric Adams to accept paychecks in bitcoin

  • Enjin allocates $100M to fund a metaverse

  • Acting US comptroller says both OCC crypto review and interagency 'crypto sprint' have concluded

  • Biden administration formally nominates crypto critic Saule Omarova for the Office of the Comptroller of the Currency

  • Microsoft, Nike embrace metaverse following Facebook’s name change

  • Avalanche launches fresh $220 million investment fund