Google and Coinbase Reach Deal, BNY Mellon Begins Crypto Custody, and WisdomTree's Bitcoin ETF Is Declined: Hodler's Digest, October 9-15

Available every Saturday, Hodler's Digest will help you follow every major news story that happened this week. The best (and worst) quotes, adoption and regulatory highlights, major coins, predictions and more - a week on Cointelegraph in one link.

Top stories this week

Starting in early 2023, Coinbase's payment service, Coinbase Commerce, will facilitate crypto payments for customers purchasing Google's cloud services through an agreement between the two companies. Google will only allow certain crypto assets for payment, including Bitcoin. Initially limited to select attendees, the pay-with-crypto option will eventually expand to other customers, a Google Cloud executive told CNBC. Google Cloud has taken several more steps towards involving the crypto and blockchain industry in 2022.

BNY Mellon, America's Oldest Bank, Launches Crypto Services

Banking giant BNY Mellon has entered the crypto custody space, offering select customers Bitcoin and Ether custody services through a new platform. The 238-year-old bank will provide accounting for customer crypto in the same way as for traditional assets, while also managing customer private keys. Roman Regelman, CEO of Securities and Digital Services at BNY Mellon, said, "With Digital Asset Custody, we continue our journey of trust and innovation in the evolving digital asset space, while embracing technology and collaborating with fintechs."

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SEC Rejects WisdomTree's Bid for a Spot Bitcoin ETF… Again

After several delays, the U.S. Securities and Exchange Commission (SEC) rejected WisdomTree's Bitcoin exchange-traded fund (ETF) proposal, which the company filed in January. The SEC cited fears of market manipulation and fraud as justification for its decision, which is consistent with its previous rationale for denying spot Bitcoin ETFs. The SEC also rejected a spot Bitcoin ETF proposal from WisdomTree in 2021.

PayPal says policy to punish users for misinformation was 'in error'

PayPal's Acceptable Use Policy was set to change in early November to include a $2,500 fine for any user of the platform who promotes, posts, sends, or publishes what is known as "misinformation." PayPal has since claimed that the policy provision was added in error. “PayPal does not fine individuals for misinformation and this language was never intended to be inserted into our policy,” PayPal said. The fiasco has rekindled concerns about centralized platforms among crypto users who see self-custody as an important pillar of self-sovereignty and financial inclusion.

Blockchain games and metaverse projects raised $1.3 billion in Q3: DappRadar

Data from DappRadar revealed that $1.3 billion in venture capital was invested in metaverse projects and blockchain games in the third quarter - a bright spot amid the darkness of the bear market in crypto. While venture capital funding for these sectors was down 48% from Q2, the Q3 figure was still more than double the amount invested in all of 2021.