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Today in Crypto: Rumors about the XRP ETF were filed

What Happened in Crypto Today: XRP ETF Filing Rumors

What Happened in Crypto Today: XRP ETF Filing Rumors

Hey everyone, CoinMarketCap is back again with the latest and greatest from crypto-verse!

Seems the hype machines are firing on all cylinders lately. We saw an AI memecoin pump and dump while traders bought the rumors of new crypto ETFs.

Let's run through the top stories:

Now let's unpack all the details!

XRP prices pumped after a fake filing claimed a BlackRock XRP ETF was coming.

People are hungry for big Wall Street money to join crypto. Scammers easily profit off that hype with stunts like this.

At least XRP got a temporary boost before the decline. Meanwhile, the SEC keeps dragging its feet on real crypto ETFs. Read the full story!

AI Coin Pumps and Dumps ⤴️⤵️

VIDEO: Blackrock Filing for XRP ETF? | WTF Happened to Bitcoin?

A memecoin inspired by Elon's new AI chatbot went on a wild rally. With barely any liquidity, it managed to hit a $160 million market cap in a week! Get rich quick dreams never die in crypto.

And then the inevitable crash rekt the late FOMO buyers, as the token fell nearly 50%. These flash-in-the-pan hype coins always end the same - profits for a few quick movers while most get dumped on.

Maybe we need an AI bot to tell people not to gamble on hype. But it likely wouldn't work. Crypto newbies love casino games, even if the house always wins. Read the full story!

Coin Mixers Not Allowed 🤐

Austin Hilton

Swan Bitcoin announced new limits on users who use coin mixers. It said accounts doing deposits or withdrawals with mixing services will face termination. They blamed pressure from banking partners responding to upcoming regulations.

The firm claims to support mixing services and financial privacy in theory. But keeping regulators and partners happy takes priority right now.

Some in crypto were outraged by the preemptive crackdown. But when bankers yell "Jump!" companies ask "How high?"

Read the full story!

And that brings us to our Word of the Day!

It’s ‘Coin Mixer’!

Coin mixers pool together crypto funds from a bunch of different senders. They mix them up, then spit them back out to random recipient addresses provided by the users.

The goal is to obscure the trail between your original coins and their destination address. This gives users more privacy and anonymity when transacting on the blockchain's public ledger.

For example, if you bought 1 BTC from an exchange and wanted to pay someone anonymously, you'd send your 1 BTC into a mixer. It gets pooled with other people's BTC and shuffled around in their system. A bit later, you get 1 BTC sent to your recipient address, but the coins have no clear link back to you anymore.

Now, coin mixing isn't foolproof. Analysis can still sometimes connect the dots!

Read more!

Now back to our daily stories!

Fake Skype App Steals Crypto 💀

VIDEO: Blackrock's Secret Meeting with SEC on BTC ETF Filings

Think twice before downloading an app - something we warned you about last week when a fake ledger app infiltrated the official Microsoft Store.

This week, a fake Skype app pulled a similar stunt and injected malicious code to steal crypto funds. It uploaded pics and files to snatch wallet addresses and re-route payments. Almost $200k stolen so far.

In regions lacking official app stores, direct downloads open the door to phishing. Even pros can be fooled by slick fakes. This shows malware can strike anywhere, not just shady sites. With crypto on the line, extra caution is required. Those bags won't protect themselves!

But how did the hackers not get caught? Read the full story!

JPMorgan Pours Cold Water on Rally 😣

Austin Hilton

A big bank just rained on crypto's rally, questioning the market hype. They argue huge bags of new money won't suddenly flood into funds like people hope. Fair critiques, but way to kill the vibe! 😒

They also say recent legal wins like Ripple don't mean regulators will back off. Which could be true, if disappointing.

But in the heat of rallies, caution rarely resonates. Here are some more details on the justifications they gave for their skepticism that kinda make sense! 🤷🏻‍♀️

Exchange Launching Crypto Futures 📊

Crypto Jebb

A regulated US crypto exchange is launching Bitcoin and Ethereum margin futures trading early next year. They'll be the first in the country to let users trade both spot and leveraged derivatives in one spot.

This aims to improve liquidity and hedging opportunities as crypto goes mainstream. But it also raises risks if reckless leverage kicks in when markets turn. Crypto needs to curb its addiction to 100x leverage. Let’s just hope people won’t ape into futures with the rent money right before the next crypto winter.

Read the full story!

And that's a wrap for today! Check back tomorrow as CoinMarketCap keeps you plugged into the latest crypto events.

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