BTC is currently trading around $24,200 and ETH around $1,900. Notable gainers in the last 24 hours are CHZ, LEO, and SHIB. The global crypto market cap is $1.20T, down 1.6% over the last day. DeFi Total Value Locked is ~$66b and BTC dominance is around 41%.
Stocks are down this morning following four consecutive weeks of gains for the S&P 500. Crypto markets are similarly down, while bonds have caught a bid. Later this week, the minutes from the Fed’s July meeting will come on Wednesday, and market expectations for the September meeting are split 60/40 between a 50 and 75-basis-point hike, respectively. The Eurozone’s July CPI release will follow on Thursday, and there are several retail sales releases throughout the week in the U.S., U.K., and Canada.
Notable news includes: the Philippine central bank revealed plans to raise crypto awareness and education to improve the delivery of financial services; Russia revealed it may introduce a targeted CBDC by 2023; Galaxy Digital terminated its plans to acquire BitGo; Binance received in-principal approval to operate in Kazakhstan; Gate’s Hippo Financial obtained a crypto custody license in Hong Kong; Revolut received approval from Cyprus regulators to offer crypto services; Indian authorities accused Vauld of aiding in money laundering; an alleged Tornado Cash developer was arrested for alleged money laundering; the Tornado Cash community fund wallet disbanded amid sanctions; EQONEX announced plans to exit the crypto exchange space; a Singaporean court granted Zipmex creditor protection for three months to develop a restructuring plan; an ETHPoW client fork was released; researchers discovered a vulnerability in Bitcoin’s Lightning Network; the open interest in ETH options breached a new all-time high; Monero completed a hard fork that improved its security and privacy features; FTX partnered with Paradigm for ‘one-click’ futures spread trading; miner hosting firm Applied Blockchain received a $15m loan to pay debt and fund growth; Axie Infinity cut rewards in an attempt to balance the in-game economy; a report indicated Steve Cohen is launching a crypto-specific asset manager; Siacoin’s parent company announced that it will shut down after failing to raise sufficient funding, noting that the decision will not affect the Skynet platform; the Acala Stablecoin aUSD collapsed following a parachain exploit; crypto lending firm BlueBenx halted withdrawals and laid off most of its employees following a $32m exploit; Velodrome recovered $350k stolen by its own team member; hacktivist group Anonymous promised to investigate BAYC’s ties to Nazi symbolism; and, Mark Cuban was hit with a class action lawsuit for promoting Voyager to NBA fans.
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