BTC is currently trading around $19,200 and ETH around $1,050. Notable gainers in the last 24 hours are SHIB and OKB. The global crypto market cap is $0.90T, down 4.0% over the last day. DeFi Total Value Locked is ~$71b and BTC dominance is around 44%.
Recession fears continue to sit at the forefront of investors’ minds as risk markets continue their downward trend. Global equity markets are down 1% to 2%, crypto is down 4%, and the U.S. Dollar and U.S. Treasuries have caught a flight-to-safety bid.
Notable news includes: EU institutions reached a provisional agreement that extends the ‘travel rule’ to cryptoassets; the IRS delayed its crypto tax collection rule to January 2023 so crypto firms can begin tracking their customers’ gains and losses; Binance partnered with Cambodia to assist with the development of crypto regulations in the country; Taiwan joined the growing list of countries developing a CBDC; Singapore reprimanded 3AC for providing false information; Grayscale sued the SEC following the rejection of its GBTC ETF conversion bid; ConsenSys partnered with StarkWare to integrate StarkNet with MetaMask and Infura; the ‘gray glacier’ upgrade went live on Ethereum; Coinbase added support for Solana staking and revealed plans to expand aggressively throughout Europe; Genesis allegedly faces ‘hundreds of millions’ of dollars in losses in the 3AC fallout; Bitcoin miner Compass denied allegations of unpaid power bills; Lightning Labs upgraded its node software to incorporate Taproot amongst other upgrades; Polkadot upgraded its governance process to enable broader participation; Chainlink smart contracts went live on Fantom; Polygon deployed ‘Avail’, a custom blockchain scaling system; Arbitrum paused its Odyssey campaign as L2 fees surpassed Ethereum mainnet fees; Ripple launched an innovation challenge to promote the development of XRP Ledger apps for CBDCs; OpenSea warned customers about phishing attacks after a list of its customer’s e-mail addresses was breached; crypto exchange OSL announced job cuts; Cash App unveiled a feature to let users invest their spare change in bitcoin; and, North Korea’s Lazarus group was linked to Harmony’s $100m exploit.
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