BTC is currently trading around $94,200, ETH around $1,750, and SOL around $143. Notable gainers in the last 24 hours are XMR, DEXE and XAUT. The global crypto market cap is $3.02T, down 0.1% over the last day. DeFi Total Value Locked is ~$98b and BTC dominance is around 65%.
Equity markets are mixed with US markets lower as investors continue to watch for signs of progress on global trade deals, none of which have materialized so far. Meanwhile, crypto markets are flat.
Notable news includes: Republicans in the US Senate acknowledged the GENIUS stablecoin bill won’t be advanced through expedited procedures given opposition to the bill in its current form from Senate Democrats; the leading Democrat in the US House Financial Services Committee, Rep. Maxine Waters, said she will block efforts to have a hearing on the newly unveiled market structure bill; the UK’s Economic Secretary for the Treasury said the UK has no plans for a national digital asset reserve and considers the idea is not appropriate for their market; the State of Florida withdrew two bills related to the creation of a strategic Bitcoin reserve, joining other states such as Wyoming, Pennsylvania, and Oklahoma where similar bills have failed to clear the legislative process; eToro is aiming to raise up to $500m at a $4b valuation in its upcoming New York IPO; Citi and Switzerland’s SDX partnered to bring tokenized pre-IPO equities onto SDX’s Corda-based tokenized assets platform; blockchain staking services company Figment is actively pursuing acquisition targets in the $100m to $200m range; Bitcoin Core developers plan to lift data limits on the OP_RETURN opcode, enabling storage of larger non-financial content; Sky’s sub-DAO Spark has committed an additional $1b to tokenized US Treasuries, bringing Spark’s TVL to $2.4b; IntoTheBlock and Trident Digital merged to form Sentora, a new company that aims to provide a one-stop shop for asset managers looking to access DeFi; Solana DePIN project NATIX partnered with Southeast Asian ride-hailing platform Grab to develop high-precision map data services; and, the Kenya High Court said World violated privacy law while obtaining biometric data in the country and ordered the deletion of all collected data within seven days.
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Author:
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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