BTC is currently trading around $30,300 and ETH around $1,850. Notable gainers in the last 24 hours are COMP, KAVA, and XEC. The global crypto market cap is $1.22T, down 0.2% over the last day. DeFi Total Value Locked is ~$44b and BTC dominance is around 52%.
It was a quiet weekend in crypto, while traditional financial markets are little changed ahead of key inflation data and the start of 2Q earnings season this week. The US CPI will be released on Wednesday, followed by the PPI on Thursday, while several notable companies will release earnings, including JPMorgan, Citi, and BlackRock.
Notable crypto news includes: a BIS survey found that over two dozen central banks plan to roll out a CBDC by 2030; the BIS released a seven step security framework for blockchain-based CBDCs; the number of active developers working on open source crypto projects fell 22% over the past year, per Electric Capital; a report by K33 found that the US accounts for 30% of the crypto industry’s headcount; Binance reportedly terminated dozens of employees last week and plans to reduce its US-based workforce; BTC, USDT and other digital assets traded at a discount on Binance.US which some attributed to liquidity issues on the platform; USDC issuer Circle launched a programmable wallet-as-a-service platform enabling developers to embed wallets in their dapps; Mantle Network is voting to form a $200m ecosystem fund; Meta’s Twitter rival Threads now has over 100m users; Digital Currency Group called the lawsuit filed by Gemini alleging it defrauded its creditors “a publicity stunt”; a CFTC investigation reportedly found that bankrupt crypto lender Celsius violated US laws by misleading investors and failing to register with the regulator; and, the Three Arrows Capital liquidator may try to claw back $1.2b from DCG and BlockFi.
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Authors:
Matt Kunke, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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