BTC is currently trading around $63,600 and ETH around $2,600. Notable gainers in the last 24 hours are SEI, POPCAT, and SUI. The global crypto market cap is $2.34T, down 1.0% over the last day. DeFi Total Value Locked is ~$87b and BTC dominance is around 57%.
Notable news includes: SEC Chair Gensler received significant heat during a House Financial Services Committee hearing yesterday; TrueCoin and TrustToken settled with the SEC regarding allegations of fraudulent and unregistered sales of investment contracts involving the TUSD stablecoin; the SEC delayed its decision on options for the spot Ethereum ETFs; crypto advocacy group Stand With Crypto changed Kamala Harris’s rating from a “B” to an “NA” after industry pushback; betting for the next US President on Polymarket crossed $1b; former Alameda Research CEO Caroline Ellison was sentenced to 24 months in prison for her role in the FTX collapse; stablecoin issuer Circle launched Compliance Engine to simplify regulatory compliance for businesses; Visa launched a platform to help financial institutions issue fiat-backed tokens; data availability protocol Celestia launched its Lemongrass upgrade; Farcaster client Warpcast launched a native way to develop mini apps that turn posts into interactive apps; and, influential Sky advisor BA Labs stated it no longer has concerns related to Justin Sun’s involvement in the custody of the Bitcoin backing wrapped Bitcoin, which could prompt Sky to reconsider its plan to off-board WBTC.
Sign up to conveniently receive GSR crypto content in your inbox.
Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
This material is provided by GSR (the “Firm”) solely for informational purposes, is intended only for sophisticated, institutional investors and does not constitute an offer or commitment, a solicitation of an offer or commitment, or any advice or recommendation, to enter into or conclude any transaction (whether on the terms shown or otherwise), or to provide investment services in any state or country where such an offer or solicitation or provision would be illegal. The Firm is not and does not act as an advisor or fiduciary in providing this material. GSR is not authorised or regulated in the UK by the Financial Conduct Authority. The protections provided by the UK regulatory system will not be available to you. Specifically, information provided herein is intended for institutional persons only and is not suitable for retail persons in the United Kingdom, and no solicitation or recommendation is being made to you in regards to any products or services.
This material is not a research report, and not subject to any of the independence and disclosure standards applicable to research reports prepared pursuant to FINRA or CFTC research rules. This material is not independent of the Firm’s proprietary interests, which may conflict with the interests of any counterparty of the Firm. The Firm trades instruments discussed in this material for its own account, may trade contrary to the views expressed in this material, and may have positions in other related instruments.
Information contained herein is based on sources considered to be reliable, but is not guaranteed to be accurate or complete. Any opinions or estimates expressed herein reflect a judgment made by the author(s) as of the date of publication, and are subject to change without notice. Trading and investing in digital assets involves significant risks including price volatility and illiquidity and may not be suitable for all investors. The Firm is not liable whatsoever for any direct or consequential loss arising from the use of this material. Copyright of this material belongs to GSR. Neither this material nor any copy thereof may be taken, reproduced or redistributed, directly or indirectly, without prior written permission of GSR.
