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	Good Thursday morning. Billy Bambrough here, bringing you your latest batch of crypto news and analysis.


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30-day crypto market snapshot

$43,048

$2,962

$2.08

$136.37

Look back to see the futures 👀


	Cryptocurrency prices are largely flat this morning, with a surge higher last night failing to build up steam. The rally was sparked by U.S. Securities and Exchange Commission (SEC) chair Gary Gensler, who reiterated his support for a narrow class of bitcoin exchange-traded funds (ETFs) that would invest in futures contracts instead of the crypto itself. Insider has a full write-up. Meanwhile, markets were lifted by news the U.S. looks like it will avoid a government shutdown. "Bitcoin has effectively replaced gold" - Billionaire investor Chamath Palihapitiya, CEO of Social Capital The bitcoin price is holding above $40,000 but the support looks weaker than when September began. Volatility in global financial markets, regulatory concerns and China's latest crypto crackdown have weighed on prices this month and took the sting out of El Salvador's historical adoption of bitcoin as legal tender. Bitcoin's on track for its biggest monthly price fall since May. Ethereum, up slightly on this time yesterday, is meanwhile struggling to break back above $3,000. Elsewhere, the rest of the crypto top ten has almost entirely turned negative. For the past month, the biggest winner among major tokens is solana, up 24% despite some wild swings. The biggest losers are cardano, falling to fourth on CoinMarketCap, and the meme-based dogecoin, both down around 24%. Crypto-controversial: Against Cryptocurrency—The Ethical Argument For Bitcoin Maximalism

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Crypto recruitment 🤝



	Want a job in crypto? Now's the time AFP via Getty Images


	Hiring spree: Cryptocurrency companies are "ramping up hiring," according to two separate reports out this morning. Crypto job searches are more than double year-ago levels, Bloomberg reported, while the Wall Street Journal reveals compliance departments are "beefing up" compliance departments in the face of increased regulatory scrutiny. A numbers game: Paid U.S. job postings with keywords including "cryptocurrency" and "blockchain" are up 600% on last year, according to Bloomberg, with crypto jobs board CryptocurrencyJobs.co recording a 1,500% growth in paid listings since last year. Hamlyn Williams, a global recruiter that focuses on regulated industries, conducted 18 chief-compliance-officer searches for financial technology and cryptocurrency businesses in 2021, up from seven searches for all of 2020, according to the Journal. Just the job: "Everyone is hiring right now across roles," Daniel Adler, founder of CryptocurrencyJobs.co, told Bloomberg, adding crypto recruits include "former high school teachers, financial services professionals from Wall Street, college dropouts, lawyers, academics, folks straight out of college, from across tech and industry." The big picture: Regulation is coming fast for the burgeoning cryptocurrency space, with countries around the world rushing to catch up with a market that's suddenly worth $2 trillion, and companies don't want to be caught out by new rules. 👁 Inflation watch: Dollar Tree breaks the $1 barrier as costs take a bite

Whatever China does, "do the opposite"


	👣 Katie Haun, a general partner at influential venture capital company Andreessen Horowitz (A16Z), has said the U.S. shouldn't follow in China's footsteps when it comes to crypto regulation. 🗣️ "This is an opportunity for the United States because we should be doing the exact opposite in my mind in this realm of what China is doing," Haun said yesterday at CNBC's Delivering Alpha conference. 🚫 Last week, China escalated a crypto crackdown that began in May, declaring all cryptocurrency transactions illegal and banning foreign exchanges from providing services to Chinese residents. Earlier this year, China moved to shut down those who use powerful computers to secure cryptocurrency blockchains in return for freshly minted coins in the country. 🪢 Haun, who heads up A16Z's crypto practice, also predicted that China will "tie trade, tie loans, tie other assistance to the use of [its] stablecoin,"—China's answer to bitcoin, a digital version of its yuan launched earlier this year by the People's Bank of China. Now read this: This is why China finally halted its bitcoin boom

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

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