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Trading Desk Market Update: 6/9

June 9, 2022

BTC is currently trading around $30,100 and ETH around $1,800. Notable gainers in the last 24 hours are LINK, HNT, and XTZ. The global crypto market cap is $1.29T, down 0.8% over the last day. DeFi Total Value Locked is ~$108b and BTC dominance is around 47%.

Notable news includes: Lithuania revealed plans to tighten crypto regulation and ban anonymous accounts; NYDFS introduced fiat-backed stablecoin regulation requiring issuers to have full backing at the end of each business day; Ethereum developers succeeded in merging the Ropsten testnet, two more testnet merges will occur before the mainnet merge expected in August; Bitcoin mining difficulty ticked up; Wintermute lost 20m Optimism (OP) tokens due to a technical mistake; Digital Currency Group unveiled a wealth management subsidiary; Coinbase made a strategic investment in crypto exchange Zipmex; ApeCoin holders voted to stay on Ethereum despite Yuga Labs’ wishes; USDT is now available on Tezos; Dai will become available on Cosmos; the new LUNA token is down 90% from its highs; Osmosis validator FireStake admitted to draining $2m during the Osmosis exploit; Salesforce unveiled plans to trial an NFT service; Arrington Capital launched a $100m growth fund for the Moonbeam ecosystem; crypto asset manager Valkyrie raised $11m in strategic funding;  and, the Optimism exploiter sent 1m OP tokens to Vitalik Buterin’s wallet. 

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