BTC is currently trading around $61,800 and ETH around $2,450. Notable gainers in the last 24 hours are LEO, AERO, and FTM. The global crypto market cap is $2.26T, down 0.3% over the last day. DeFi Total Value Locked is ~$81b and BTC dominance is around 58%.
Equities are generally little changed as investors await the FOMC meeting minutes due out this afternoon. Chinese stocks are the exception, with the CSI 300 falling 7% today after representatives at a National Development and Reform Commission press conference failed to inspire confidence that fiscal stimulus will adequately spur economic growth. Elsewhere, HBO documentary “Money Electric: The Bitcoin Mystery” identified Bitcoin developer Peter Todd as Satoshi, though Todd denied the claim, calling it “ludicrous” and that HBO was “grasping at straws.”
Notable news includes: India’s planned discussion paper outlining its policy stance on cryptocurrencies is reportedly on hold due to competing priorities; Turkey and Russia banned messaging platform Discord; a judge ruled that Twitter will be restored in Brazil within 24 hours; Taiwan’s FSC will reportedly launch an institutional trial of crypto custody services through local banks; the government of Palau launched a blockchain-based savings bond prototype system; South Korea outlined plans to impose foreign exchange regulations on cross-border stablecoin transactions; the SEC sent crypto.com a Wells Notice indicating an enforcement action is likely coming, while crypto.com sued the SEC for unauthorized overreach and unlawful rule making; Samsung Pay added Alchemy Pay’s digital assets payments card; MicroStrategy stock neared an all-time high; BitGo began moving the Bitcoin backing WBTC as part of its previously announced revised custody strategy; Bitcoin staking protocol Babylon opened deposits and attracted $1.5b of BTC in just two hours; NEAR patched a critical bug that could have crashed the blockchain; metaverse Decentraland revealed plans for a desktop version to materially upgrade visuals and performance; and, crypto trader Murad’s memecoin supercycle thesis gained significant attention on Twitter.
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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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