In a recent study conducted by Coinbase, a paradigm shift has emerged among the young American population. An impressive 38% of younger Americans now believe crypto and blockchain technology can provide significant economic opportunities not commonly found in the traditional finance sector, Crypto Potato reports. .

As per the study, younger generations are highly frustrated with the current financial system. According to Coinbase’s report, only 9% of Gen Z (18-25) and 19% of Millennials (26-40) still believe in the attainability of the American Dream through conventional means.

Only 7% of these demographics believe the current financial system serves their needs well. Over 52% of the respondents in the study period reported infrequent use of the system, with fewer than 20% considering the U.S. financial system superior to those in other countries.

Moreover, about 31% of younger individuals own cryptocurrency compared to 12% of older generations. 16% of the younger people note that the international availability of digital assets is a compelling attribute for crypto.

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Anthony Scaramucci, founder of Skybridge Capital, believes that if the U.S. Securities and Exchange Commission (SEC) approves Blackrock’s spot bitcoin exchange-traded fund, the value of bitcoin could surge significantly. Scaramucci also discussed Sam Bankman-Fried, the former head of FTX, and Gary Gensler, the current chair of the SEC, Bitcoin.com reports. 

Scaramucci, who is optimistic about bitcoin, recently spoke with Altcoin Daily about various crypto-related topics. The American financier touched on Blackrock’s Bitcoin ETF, mentioning he was its first external investor. He also addressed the situation with Sam Bankman-Fried, the former FTX chief who owned a 30% stake in Skybridge Capital. Scaramucci said he’s negotiating with the bankruptcy estate and has no plans to testify in Bankman-Fried’s trial.

Regarding BTC, Scaramucci predicted that if Blackrock’s spot bitcoin ETF receives approval, bitcoin’s valuation could multiply by 11. He theorized significant capital inflows if ETFs from leading financial entities gain SEC approval. “Think of the magnitude of that, if there’s $100 billion that flows in bitcoin that could have an 11-times factor in terms of valuation,” Scaramucci remarked. “So you could see bitcoin go from a $600 billion asset to a $600 trillion asset.”

Galaxy Digital CEO Mike Novogratz expects a spot bitcoin exchange-traded fund (ETF) to be approved in 2023. “It’s going to get approved, we think it happens this year,” the American investor said on Wednesday, Bitcoin.com reports. 

“It’s going to get approved, we think it happens this year in 2023,” Novogratz remarked. He added that all the indications point to it happening this year. The Galaxy CEO further cited public commentary and filings noting that “people’s comments are much more constructive.”

He believes that current events indicate approval is imminent. His statements come after Blackrock CEO Larry Fink described the recent surge, following false ETF approval rumors, as a “flight to quality.” Novogratz highlighted Blackrock’s comments, emphasizing that interest from the world’s largest fund manager is a positive indicator. He also stressed, “The public wants this.” Novogratz’s statements follow Fidelity amending its spot bitcoin ETF filing on October 17.

Ferrari has started to accept payment in cryptocurrency for its luxury sports cars in the U.S. and will extend the scheme to Europe following requests from its wealthy customers, its marketing and commercial chief told Reuters.

The vast majority of blue-chip companies have steered clear of crypto as the volatility of bitcoin and other tokens renders them impractical for commerce. Patchy regulation and high energy usage have also prevented the spread of crypto as a means of payment.

These include electric carmaker Tesla, which in 2021 began to accept payment in bitcoin, the biggest crypto coin, before CEO Elon Musk halted it because of environmental concerns.

Ferrari's Chief Marketing and Commercial Officer Enrico Galliera told that Reuters cryptocurrencies had made efforts to reduce their carbon footprint through the introduction of new software and a larger use of renewable sources.

"Our target to reach for carbon neutrality by 2030 along our whole value chain is absolutely confirmed," he said in an interview.

Ferrari said the decision came in response to requests from the market and dealers as many of its clients have invested in crypto.

"Some are young investors who have built their fortunes around cryptocurrencies," he said. "Some others are more traditional investors, who want to diversify their portfolios."

The price of ether (ETH) has the potential to reach $8,000 by the end of 2026 versus its current level just below $1,,600, writes Geoff Kendrick, Head of FX Research, West, and Digital Assets Research at Standard Chartered Bank, CoinDesk reports. 

While Ethereum's dominant uses currently are non-fungible tokens (NFTs) and decentralized finance (DeFi), said Kendrick, an evolution towards gaming and tokenization should add "significant demand."

"Importantly, this should provide ‘proof of concept’ examples in which real-world industries come on-chain to exploit the benefits of Ethereum over their existing setups," he added. "We expect significant developments on these fronts by 2025-26."

In the shorter term, said Kendrick, the bitcoin (BTC) halving in April 2024 "should help lift all boats," and he sees ether hitting $4,000 by the end of next year.

On the latest episode of the Joe Rogan Experience podcast, Rogan says that he is bullish on Bitcoin, and he believes it can become a universal currency. He calls Bitcoin the most fascinating crypto and that it has the best chance of universal implementation, Watcher.Guru reports. 

Speaking to Sam Altman, the founder of OpenAI, he says “That’s the one that has the most likely possibility of becoming a universal viable currency.” Bitcoin is the leading cryptocurrency on the market today. At press time, it is trading at $27,960.47.

“It’s limited in the amount that there can be, people can mine it, and that to me is very fascinating,” Rogan adds. He also comments on people who live their lives with Bitcoin daily. Rogan uses Andreas Antonopoulos, a tech entrepreneur from Greece, as an example of implementing Bitcoin in daily life.

Saudi Arabia ranked as the country with the highest growth volume of cryptocurrency transactions globally over a 12-month period, as adoption of decentralized finance gains traction in various countries across the Middle East, according to an industry report released Tuesday, and reported by Al-Monitor.

Decentralized finance is an overlaying term for the digital ecosystem that allows people to buy, sell, send and receive digital assets such as cryptocurrencies without relying on traditional intermediaries like banks, but rather publicly accessible blockchains, to make transactions.

The kingdom led globally with a 12% increase in crypto transaction volume reaching nearly $31 billion from July 2022 through June 2023, compared to the same period in 2021-22. It was followed by Vietnam (11.6%), Nigeria (9%) and Spain (6.9%), reported New York-based blockchain analysis firm Chainalysis in its 2023 Geography of Cryptocurrency Report.

The annual report since 2019 identified the Middle East and North Africa (MENA) as the sixth largest crypto economy globally valued at $390 billion from July 2022 through June 2023, far behind leading regions like North America ($1.22 trillion) and Western Europe ($1.07 trillion). Chainalysis gathered data for the report by monitoring decentralized finance wallet services that allow the exchange of cryptocurrencies along with purchasing third-party data to monitor web traffic. 

JPMorgan Chase & Co.’s U.K. division, Chase UK, is putting the brakes on cryptocurrency-related payments, Bitcoin.com reports. Come October 16, any Chase UK customers attempting to make a bank transfer or card payment linked to crypto will find themselves thwarted.

A representative from Chase verified the email’s legitimacy to Bloomberg and shed light on their stance. Coindesk’s Sandali Handagama also reported on the Chase UK email on Tuesday prior to Bloomberg’s confirmation.

“We’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,” the Chase spokesperson revealed.

Chase made its move after a series of regulatory overhauls in the United Kingdom within the past six months. For instance, the U.K. Financial Conduct Authority (FCA) introduced new guidelines for the crypto industry. Concurrently, the payments powerhouse Paypal has briefly suspended U.K.-based crypto transactions, pointing to these regulatory adjustments.

Bitcoin.com reports that Skybridge Capital founder Anthony Scaramucci has explained why he is still bullish on bitcoin. Emphasizing that every Wall Street firm is going to have a bitcoin exchange-traded fund (ETF) in their arsenal that they will sell to their clients, he predicted: “The next 10 to 20 years are remarkably bullish.” He added: “If you got your bitcoin, I wouldn’t sell your bitcoin, you made it through winter.”

He cautioned that headwinds are still in the macro environment, including higher interest rates, an enforcement-centric Securities and Exchange Commission (SEC) chairman, and negative sentiment around crypto adoption. Nonetheless, he remains optimistic about BTC, stating: “As wealth is created in society, a portion of that wealth is going to get chipped off for digital assets, most likely bitcoin.” He also reiterated his long-standing view that “Bitcoin is better than gold.”

Scaramucci further expects the approval of bitcoin exchange-trading funds (ETFs) to be a game changer. 

David Hirsch, who runs the agency’s office that handles crypto enforcement, says that apart from Coinbase and Binance, there are other exchanges and DeFi straying from the law, CoinDesk reports. 

“We’re going to continue to bring those charges,” said Hirsch, who said the regulator has a number of other businesses on its radar that are operating in similar ways to Coinbase and Binance. His agency is already embroiled in a number of complex crypto cases in federal courts, and – as seen in its effort to appeal a recent Ripple ruling – not always with complete success.

Hirsch said the SEC’s interest in crypto goes well beyond the high-profile exchanges.

"We're going to continue to be active as to intermediaries,” he said. “That can be brokers, dealers, exchanges, clearing agencies or any others who are active in this space, are within our jurisdiction and not meeting their obligations, either through registration or failure to provide adequate or complete disclosures.”

Hackers have apparently compromised a wallet belonging to billionaire investor Mark Cuban, stealing a number of cryptocurrencies, Bitcoin.com reports. The owner of the Dallas Mavericks NBA team, who confirmed the breach, has been able to transfer the remaining digital funds to U.S. crypto exchange Coinbase.

Cuban confirmed the hack of his wallet to the crypto news outlet DL News. “I went on Metamask for the first time in months. They must have been watching,” he said, adding: “I’m pretty sure I downloaded a version of Metamask with some shit in it.” The wallet crashed several times.

In a later transaction, around $2 million worth of USDC was also sent to a different wallet. Cuban revealed that he had transferred the remaining assets to Coinbase Custody. He also said that he locked his non-fungible tokens (NFTs) on Opensea and transferred all his polygon, too.

According to Insider Monkey, the United Arab Emirates holds the largest ownership of crypto with 27.67%. The use of cryptocurrency is legal in the country, and government regulations are also favorable towards blockchain technology. Almost 28% of the total population in the country owns crypto.

Vietnam comes in second place with 18.73%. The rapid digitization of the economy explains the surge in crypto ownership across the country.

Third place goes to Saudi Arabia with 17.53% crypto ownership while Ukraine comes in fourth with 15.72%. The fifth place goes to the United States with only 13.7%.

A widely followed crypto analyst is warning that Bitcoin plummet on account of one potential factor, reports The Daily Hodl.

In a new strategy session, DataDash host Nicholas Merten tells his 512,000 YouTube subscribers that Bitcoin could decline by more than 60% from its current value if Apple’s market cap continues to decline.

According to Merten, a plummeting Apple market cap will cause Bitcoin, as well as other equities, to collapse along with it. Apple reached a $3 trillion market cap in July but has declined to $2.79 trillion at time of writing.

We can’t live in some fantasy world where if Apple is contracting from a $3 trillion company to a $1.5 trillion company that that is not going to have some impacts on Bitcoin. And I got to tell you… that that will have a bigger impact on Bitcoin than any halving event, any Bitcoin ETF, any narrative you can think of.

If that scenario plays out, I’m not saying it’s a guarantee, but I think it’s a likely scenario. If that plays out, you can easily see Bitcoin coming down here to new lows at around $10,000 to $12,000… 

There’s a reason when Apple drops $200 billion in market cap we got to listen to that. Those small percentage declines, while they seem small, are magnified when you consider Apple’s valuation and the weighted impact it’s going to have on other equities like Microsoft, the FANG (Facebook, Amazon, Netflix and Google) stocks, and even the broader stock market as a whole and even cryptocurrencies, from Bitcoin to your favorite altcoins.

A Bitcoin price correction down to $22,000 is becoming increasingly likely, as BTC derivatives have begun to exhibit bearish tendencie, Cointelegraph reports. 

The price chart of Bitcoin leaves little doubt that investor sentiment has worsened since Grayscale’s much-hyped legal victory against the United States Securities and Exchange Commission on Aug. 29 and the SEC’s subsequent postponement of multiple spot BTC exchange-traded fund (ETF) requests.

The central question remains whether the prospects of an ETF can outweigh the growing risks.