Bitcoin trading above Rs 48 lakh

Cryptocurrencies traded mostly in the red so far on October 22. The global crypto market cap stood at $2.58 trillion, 1.51 percent down over the last day. The total crypto market volume over the last 24 hours reached $124.08 billion with a 10.70 percent increase. Bitcoin traded at Rs 48,97,000 lakh with a dominance of 45.94 percent, a decrease of 0.53 percent over the day, around 9am. The cryptocurrency hit its record high of over Rs 50 lakh on October 21. Read full story here.

Crypto startup FTX Trading valued at $25 billion after mega funding round

Crypto firm FTX Trading raised fresh capital at a valuation of $25 billion from a clutch of big-name venture capital investors, making it one of the most richly-valued crypto startups in the world. The financing, led by investors, including Ontario Teachers' Pension Plan Board, Temasek and Tiger Global, and other investors at a valuation of $18 billion. Read details here.

SEBI bans investment advisors from advising on unregulated instruments, including digital gold and crypto

The Securities and Exchange Board of India (SEBI) on October 21 announced that investment advisors are barred from advising on unregulated instruments. This effectively bans the investment advisors from advising on cryptocurrencies, digital gold and other unregulated products. Read more here.

Investors flee gold for cryptocurrencies as inflation worries perk up (PRO)

Investors are dumping gold for cryptocurrencies as inflation picks up, fleeing a metal historically touted as a store of value to buy digital assets little more than a decade old. More than $10 billion has been pulled from the biggest gold exchange traded fund this year and funds’ physical gold hoards have also been selling down, according to Bloomberg data. Read here.