BTC is currently trading around $63,300 and ETH around $2,650. Notable gainers in the last 24 hours are TAO, IMX, and POPCAT. The global crypto market cap is $2.32T, down 0.1% over the last day. DeFi Total Value Locked is ~$87b and BTC dominance is around 58%.
Equity and crypto markets are little changed to start the week. Notably, the US Congress reached an agreement on a short-term spending bill that averted a possible partial government shutdown that would have started on October 1 and funds the government beyond the election. Looking ahead, it’s a light week for economic data, where US PCE on Friday is the main event.
Notable news includes: the IMF released a guide for policymakers on ways to increase CBDC uptake; Australian regulators are reportedly preparing new guidance requiring crypto exchanges to obtain financial licenses; Kamala Harris mentioned crypto for the first time at a fundraiser stating that her administration “will encourage innovative technologies like AI and digital assets while protecting our consumers and investors”; bankrupt crypto-friendly bank Silvergate blamed a “sudden regulatory shift” for its demise in its filing; US prosecutors recommended a lenient sentence for former Alameda Research CEO Caroline Ellison ahead of her sentencing tomorrow; the SEC approved options on BlackRock’s spot Bitcoin ETF, IBIT; custody bank BNY Mellon reportedly received SEC approval to offer digital asset custody services; global banking giant Citi is reportedly exploring Solana for smart contracts and cross-border payments; Jump launched an intermediate Firedancer prototype on Solana mainnet called Frankendancer; Pyth Network launched Oracle Integrity Staking to enhance economic alignment for oracle data publishers; Fuse Wallet launched the Fuse Pay virtual Visa card; Coinbase announced it will bring its wrapped Bitcoin cbBTC to Solana; founder Rune Christensen proposed expanding Sky to Solana; NFT platform Magic Eden enabled optional royalties on EVM chains; OpenSea users filed a class action lawsuit against the NFT platform; Hamster Kombat revealed airdrop allocations; and, rapper Iggy Azalea announced she will launch a web3 casino called Motherland.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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