BTC is currently trading around $95,400 and ETH around $2,750. Notable gainers in the last 24 hours are S, OP, and ARB. The global crypto market cap is $3.28T, down 0.9% over the last day. DeFi Total Value Locked is ~$108b and BTC dominance is around 61%.
Crypto prices were lower over the weekend after Argentina President Milei promoted the LIBRA memecoin, which shot up to a $4b market cap before quickly crashing. Milei retracted his endorsement after insiders were accused of a rug pull, and Argentine lawyers filed fraud charges against Milei accusing him of violating public ethics laws. Looking ahead, FTX convenience class distributions begin tomorrow, while the first deliverables deadline for Trump’s digital assets executive order is on Saturday, where the Treasury, Department of Justice, and SEC must “identify all regulations, guidance documents, orders, or other items that affect the digital asset sector.” In addition, investors will closely watch the FOMC minutes on Wednesday, and the European and US PMIs on Friday.
Notable news includes: The SEC requested a 28 day extension to review Coinbase’s appeal in its ongoing legal battle with the exchange; a Chainalysis report found that Russia and Iran increasingly used digital assets to bypass sanctions; West Virginia introduced a bill to enable the state to invest in crypto; Tether signed an MOU with Guinea to explore blockchain technology and support the country’s digital transformation; traditional custodian State Street announced plans to launch digital asset custody in 2026; Standard Chartered, Animoca, and HKT partnered to launch a Hong Kong dollar-backed stablecoin; Hong Kong-based crypto custodian Hex Trust acquired Byte Trading; Hong Kong-listed HK Asia purchased its first Bitcoin; blockchain.com hired executives with financial expertise in advance of a potential IPO; digital asset investment products saw $415m of outflows last week, per CoinShares; World launched in the Philippines; and, the TRUMP memecoin project announced it will airdrop $50 of tokens to buyers of Trump-branded products.
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Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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