BTC is currently trading around $61,700 and ETH around $3,400. Notable gainers in the last 24 hours are NOT, FET, and AGIX. The global crypto market cap is $2.40T, up 0.7% over the last day. DeFi Total Value Locked is ~$96b and BTC dominance is around 55%.
Notable news includes: The US Department of Justice sentenced two individuals for manipulating the price of HYDRO in what marks the first time that a jury in a federal criminal trial found that a token is a security; a bankruptcy court granted FTX approval to solicit votes on its proposed liquidation plan that pays customers based on November 2022 crypto prices; a Hong Kong government research arm released reports on DeFi and the metaverse; Germany continued to send seized Bitcoin to centralized exchanges; Brazilian neobank Nubank partnered with payments platform Lightspark to bring the Bitcoin Lightning Network to its customers; the US spot Bitcoin ETFs saw its first positive inflow day after seven straight days of outflows; SEC Chair Gensler stated that the process for launching Ethereum spot ETFs is “going smoothly”; a VanEck filing showed it will temporarily waive fees for its proposed spot Ethereum ETF; investment manager Investcorp partnered with Securitized to tokenize funds; and, analysts argued Mt. Gox-related BTC selling will be lower than expected as creditors could have sold their claims anytime over the last decade and as an extremely low tax basis will encourage HODLing.
Sign up to conveniently receive GSR crypto content in your inbox.
Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
This material is provided by GSR (the “Firm”) solely for informational purposes, is intended only for sophisticated, institutional investors and does not constitute an offer or commitment, a solicitation of an offer or commitment, or any advice or recommendation, to enter into or conclude any transaction (whether on the terms shown or otherwise), or to provide investment services in any state or country where such an offer or solicitation or provision would be illegal. The Firm is not and does not act as an advisor or fiduciary in providing this material. GSR is not authorised or regulated in the UK by the Financial Conduct Authority. The protections provided by the UK regulatory system will not be available to you. Specifically, information provided herein is intended for institutional persons only and is not suitable for retail persons in the United Kingdom, and no solicitation or recommendation is being made to you in regards to any products or services.
This material is not a research report, and not subject to any of the independence and disclosure standards applicable to research reports prepared pursuant to FINRA or CFTC research rules. This material is not independent of the Firm’s proprietary interests, which may conflict with the interests of any counterparty of the Firm. The Firm trades instruments discussed in this material for its own account, may trade contrary to the views expressed in this material, and may have positions in other related instruments.
Information contained herein is based on sources considered to be reliable, but is not guaranteed to be accurate or complete. Any opinions or estimates expressed herein reflect a judgment made by the author(s) as of the date of publication, and are subject to change without notice. Trading and investing in digital assets involves significant risks including price volatility and illiquidity and may not be suitable for all investors. The Firm is not liable whatsoever for any direct or consequential loss arising from the use of this material. Copyright of this material belongs to GSR. Neither this material nor any copy thereof may be taken, reproduced or redistributed, directly or indirectly, without prior written permission of GSR.
