BTC is currently trading around $29,400 and ETH around $1,700. Notable gainers in the last 24 hours are OSMO, LUNC, and BSV. The global crypto market cap is $1.26T, down 3.2% over the last day. DeFi Total Value Locked is ~$105b and BTC dominance is around 47%.
Markets are selling off broadly behind a worse than expected CPI print. May’s headline inflation rose to 8.6%, exceeding consensus estimates of 8.3% and reaching its highest level since 1981. Global equities are down 1.5% to 2%, crypto is down ~3.2%, and the US 10-yr yield gapped up to ~3.12%. In the EU, the ECB’s policy decisions were in line with expectations yesterday, keeping rates constant while reiterating that a 25 basis point hike is to come in July with an additional hike likely in September.
Other notable news includes: Bermuda’s crypto companies launched an industry association to support crypto growth and development in the country; the SEC is reportedly investigating whether Terraform Labs violated federal investor protection laws; Anchorage formed a custody network with five crypto exchange partners; Wintermute revealed plans to launch a DEX aggregator on Ethereum; Flexa expanded its payment suite; Coinbase reported a bug preventing Solana cold storage access; Binance selected TripleA as its international payment gateway partner for Binance Pay; the Optimism token exploiter revealed an intent to return 18m OP tokens to Wintermute; Hop Protocol airdropped over 20m governance tokens; Circle agreed to acquire web3 infrastructure platform Cybavo; Chainlink delivered Keepers and VRF to the Avalanche blockchain; Osmosis backstopped all user losses from its exploit; the Bloomberg Terminal expanded its crypto coverage; Mastercard expanded its partnerships with marketplaces to allow direct NFT purchases; Venture firm Felix Capital raised $600m to invest in web3 and blockchain companies; Samsung Asset Management revealed plans to launch a blockchain ETF in Hong Kong; PartyDAO raised ~$16.5m led by a16z; Do Kwon allegedly cashed out $80m per month ahead of the LUNA crash; Jay-Z and Jack Dorsey collaborated to launch a Bitcoin educational program in Brooklyn; and, Seth Green paid ~$300k to recover his stolen BAYC NFT.
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