Daily Market Update: Dec 28, 2022

December 28, 2022

BTC is currently trading around $16,700 and ETH around $1,200. Notable gainers in the last 24 hours are XAUT, ICP, and CSPR. The global crypto market cap is ~$837B, down ~0.8% over the last day. DeFi Total Value Locked is ~$39b and BTC dominance is around 42%.

Notable news includes: the Justice Department launched a criminal probe into FTX’s ~$400m hack; MicroStrategy sold its first bitcoin to harvest tax losses, but the filing indicates ~2.5k bitcoin were still added on a net basis since November 1st; Galaxy acquired Argo’s Helios mining facility and it will sell hosting services to Argo; Nexo claimed its takeover of troubled crypto lender Vauld is still going forward as the deadline approaches; Kraken announced it will shut down operations in Japan; Coinbase’s stock reached a new all time low; wallets affiliated with the collapsed trading firm Alameda Research began using mixers to swap ETH for BTC in a fashion likely inconsistent with court-appointed liquidators; SBF reportedly borrowed ~$546m from Alameda to fund his Robinhood share purchase; FTX customers filed a class-action lawsuit to get priority reparations; investors sued Gemini over the withdrawal freeze on its Gemini Earn program; Pudgy Penguins NFTs reached a record high ETH-denominated floor price; the North Korea-linked Lazarus group has begun posing as VC firms to spread malware; and, Avraham Eisenberg, the Mango Markets exploiter was arrested in Puerto Rico on commodities fraud charges.

Matt Kunke, Junior Strategist | TwitterTelegramLinkedIn
Brian Rudick, Senior Strategist | TelegramLinkedIn

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