BTC is currently trading around $104,400 and ETH around $3,300. Notable gainers in the last 24 hours are WLD, VIRTUAL, and PENGU. The global crypto market cap is $3.76T, down 0.6% over the last day. DeFi Total Value Locked is ~$126b and BTC dominance is around 58%.
Notable news includes: the SEC unveiled a crypto task force led by Commissioner Peirce; a US District Court reversed a prior court decision that supported sanctions on crypto mixer Tornado Cash; Trump announced a $500b AI infrastructure venture named Stargate; Trump pardoned Silk Road creator Ross Ulbricht; TRUMP went live for trading on Coinbase; Trump’s World Liberty bought $113m of crypto; Consensys founder Joe Lubin stated Trump may build a big business on Ethereum; MicroStrategy investors approved an increase in its authorized shares; messaging platform LINE introduced Telegram-style dapps; Telegram and the TON Foundation announced a deal requiring mini apps with crypto integrations to exclusively use the TON token; USDC issuer Circle acquired RWA issuer Hashnote; Rex and Osprey Funds filed to issue ETFs, including a TRUMP ETF; Bitcoin miner Riot launched an evaluation process to pivot 600 MW of remaining power from Bitcoin mining to high-performance computing; crypto.com launched its institutional-grade Crypto.com Exchange in the US; BitStamp revealed plans to roll out regulated derivatives trading in Europe; Coinbase fixed its Solana transaction backlog; digital assets platform Bitpanda introduced a web3 suite to make web3 tech more accessible; crypto lender Nexo instituted a $5,000 minimum limit to use its services; prominent Ethereum developer Nick Conner left the project; Justin Sun recommended that Ethereum tax its L2s; Uniswap announced it will begin its v4 deployment this week; distributed validator technology provider Obol announced it will airdrop OBOL tokens to solo stakers; and, Magic Eden unveiled a no-code NFT launchpad.
Sign up to conveniently receive GSR crypto content in your inbox.
Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | 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.
