Coinnerd Weekly Wrap: October 31, 2021

THE DOJ IS LOOKING FOR SOMEONE TO LEAD THEIR NATIONAL CRYPTOCURRENCY ENFORCEMENT TEAM

The facts

• The Department of Justice (DOJ) has posted a job offering on USAJobs stating that it’s looking for directors.
• The salary for the job is around $144,128 to $172,500 per year
• The closing date for the job offer will be on November 4, 2021
• The tea I said to be composed of anti-money laundering experts and professionals

Why it’s relevant

• This might seem like bad news as they’re cracking down on crypto but it actually paves the way to officially legitimize cryptocurrency worldwide making it more appealing to both the masses and the government
• This opens up new jobs and opportunities for people who have experience in cryptocurrency. New jobs might be created by the government in the future specifically for dealing and managing crypto assets. 

Petition Shiba Inu Coin to be on Robinhood 

The facts

• Tristan Luke has started a petition on Change.org to include the Shiba Inu coin to be added on the crypto exchange platform Robinhood.
• So far 404,870 people have signed as of October 29, 2021
• The Shiba Inu Coin is a meme coin but it has increased significantly in value over the past year reaching its all-time high value of $0.00008616 on October 28, 2021. This value could grow by the time you’ve read this wrap-up.

Why it’s relevant

• Shiba Inu is a meme coin created for laughs just like its predecessor the Dogecoin. Despite that, the coins have started gaining a lot of value over the past year showing the volatility of the cryptomarket. 
• Maybe it being a meme is what caused it to grow in the first place? This teaches us a lesson to never underestimate cryptocurrencies in general even if they were made to be a joke. 

Upcoming Crypto Events to Look For

ETHEREUM ETF IS ESTIMATED TO COME OUT NEXT YEAR

The fact & timeline

• A tweet by Blockworks quoted James Seyffart, a Bloomberg analyst, stating that an Ethereum ETF could be coming next year in the early parts of 2022.

Ethereum 2.0’s Full Release 

The fact & timeline

• Based on Ethereum 2.0’s timetable, the full release is expected to come out sometime in 2022.

Conclusion

It’s always exciting in the world of crypto. This week Bitcoin and Ethereum take the spotlight as the two cryptocurrencies display exceeding growth in their value. The Shiba Inu coin also comes close to showing massive growth for the past year, showing that the coin being a meme could be an advantage after all. Lastly, we have the government being more open to cryptocurrency as the FDIC is keen on accepting crypto in banks as collateral and the DOJ hiring a new director to lead their new cryptocurrency enforcement team. 

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.