What Happened in Crypto Today? [Oct. 17]

We have a pulse!

The crypto community’s excitement flatlined this week until a bullish fake tweet applied some voltage, liquidating $100 million shorts. Talk about an emergency adrenaline shot!

So, CoinMarketCap is here to catch you up on today’s top crypto stories!

As always, a quick TLDR rundown of the key news stories:

• Blackrock ETF rumors fake
• Solana partners with Dubai Multi Commodities Centre (DMCC)
• Binance burns $450m BNB
• Upbit receives approval for major payment institution license in Singapore
• SBF lawyers: Defendant needs more Adderall

Now let's dive deeper into each of these crypto stories!

BlackRock ETF Rumors Fake

In totally predictable news, a popular crypto media platform prematurely popped the champagne over an unverified BlackRock ETF approval news, crushing shorts within a few minutes. Cue a fleeting surge to $29K as markets momentarily rejoiced over the fake green light. Just more unfounded hype fooling us all.

Meanwhile, the SEC continues edging us along on the real ETF decision, getting hopes up only to mercilessly leave us high and dry.

When will this approval blue balling end?

Solana Partners with Dubai Multi Commodities Centre (DMCC)

Solana has teamed up with Dubai's crypto center to provide Web3 support and grants. What benefits will both parties offer each other?

Binance Burns $450M BNB

Binance just torched $450 million worth of its BNB tokens, pushing prices up by reducing supply. Nothing like a good old-fashioned ritual coin burning to conjure up crypto value. Find out how close Binance is to its “burn 100M BNB” target!

Upbit Receives Approval for Major Payment Institution License in Singapore

South Korean exchange Upbit got an initial green light for a Major Payment Institution license from Singapore. While full approval is still pending, is it a step towards mainstream adoption or just more pointless red tape?

Sam Bankman Fried’s Lawyers: SBF Needs More Adderall To Focus During Trial

The article seems incomplete without SBF…

Well, in a recent development, SBF's lawyers say their client needs more Adderall to concentrate on his criminal trial. We're sure doubling down on stimulants will really sharpen SBF's moral compass during this whole fraud case.

And that's the tea for today! Tune in tomorrow for more piping-hot stories.

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