Daily Market Update: October 13, 2023

October 13, 2023

BTC is currently trading around $26,900 and ETH around $1,550.  Notable gainers in the last 24 hours are RUNE, CRV, and MKR.  The global crypto market cap is $1.09T, up 0.2% over the last day.  DeFi Total Value Locked is ~$36b and BTC dominance is around 51%.

Notable news includes: The G20 adopted a Synthesis Paper advocating for comprehensive oversight of crypto; the UK FCA is working on a blueprint for fund tokenization; the US FTC settled with Voyager Digital for $1.65b, while the CFTC charged Voyager co-founder Ehrlich with fraud; ex-Alameda Research CEO Caroline Ellison testified that her attempted resignation was refused by SBF and that she and SBF conspired to keep BTC below $20,000; Terra creator Terraform Labs suggested in legal filings that Citadel Securities may have a connection to the May 2022 UST depeg; South Korean prosecutors announced an investigation into the ex-CEO of tech giant Kakao over crypto embezzlement allegations; Chinese tech giant Tencent announced it will launch a digital yuan smart contract offering for SMEs; MasterCard successfully completed a wrapped CBDC trial with the Reserve Bank of Australia; the deadline for the SEC to appeal its recent court loss to Grayscale is today; Tether appointed CTO Paolo Ardoino as CEO; Scroll seemingly launched its zkEVM layer 2 network; Uniswap launched a mobile wallet for Android; THORSwap resumed trading after funds linked to the FTX exploit allegedly passed through the cross-chain DEX; and, layer 1 blockchain Flare announced it will burn 2.1b FLR tokens to support ecosystem development and overall health.

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Matt Kunke, Research Analyst | TwitterTelegramLinkedIn
Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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