BTC is currently trading around $30,300 and ETH around $2,050. Notable gainers in the last 24 hours are OSMO, ATOM, and AAVE. The global crypto market cap is $1.35T, up 3.2% over the last day. DeFi Total Value Locked is ~$112b and BTC dominance is around 45%.
Notable news today includes: a BIS paper suggested distributed ledgers rather than crypto providers should be regulated; top financial officials from the G7 called on the Financial Stability Board to speed up crypto regulation; Panama President Cortizo stated he would not endorse the crypto asset regulation bill passed by the National Assembly citing money laundering concerns; US SEC Commissioner Pierce stated that congress may work more quickly on stablecoin regulations amid the UST collapse; The UK FCA will reportedly consider UST’s collapse when creating its new rules for crypto assets; South Korean prosecutors are reportedly weighing whether they may charge Terra co-founder Do Kwon for running a Ponzi scheme; US House members wrote a letter to Fed Chair Powell seeking more analysis on a possible US CBDC; SWIFT and Capgemini have teamed up to conduct experiments with cross border CBDC payments; a Goldman Sachs report stated the decline in crypto prices is unlikely to impact the US economy; The Commonwealth Bank of Australia paused its plans for a crypto trading service given regulatory uncertainty; Shopify enabled merchants to accept crypto payments via crypto.com; Ethereum developers stated that the network’s merge to proof-of-stake could occur in August; ConsenSys has pushed an upgrade for Ethereum validators ahead of the merge; Ethereum scaling solution Optimism announced an upgrade named Bedrock to improve trading speeds and costs; and, USDT issuer Tether released an attestation report showing the stablecoin is fully backed and that its commercial paper reserves fell 17% since 1Q.
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