“Bitcoin retraced down to $65,000, mostly attributed to the recent macro outlook on interest rates and rising Treasury yields,” Semir Gabeljic, director of capital formation at Pythagoras Investments, said in an email interview. “Higher interest rate environments typically tend to reduce investor appetite to risk.” Source
“The parties do not dispute that, to prevail on its claims, the SEC need only establish that at least one of these 13 Crypto-Assets is being offered and sold as a security, and that Coinbase has intermediated transactions relating therewith, such that transacting in that Crypto-Asset would amount to operating an unregistered exchange, broker or clearing agency,” the order said. Source
The SEC’s Shot Across the Bow on 'AI Washing' Source
Meme coin seasons are known for frenzied market activity, driven by the meteoric rise of viral crypto projects that transform modest investments into fortunes overnight. The world knows dogecoin (DOGE) is the original meme coin, but a gang of newcomers has stormed the 2024 meme season. There’s a puppy wif a hat {{WIF}}, a smirking frog (PEPE), a clumsy sloth {{SLERF}} and more. Source
Most capital went into infrastructure and decentralized finance (DeFi) projects, data by RootData shows. Source
Goldman Sachs, nowadays one of the few Wall Street banks to do so, isn’t backing away from its negative stance against crypto, as it doesn’t see the value of the asset itself. Source
The VC is looking to raise between $750 million and $850 million, Bloomberg reported citing source familiar. Source
The new law means platforms and individuals who purchase, sell, send or trade cryptocurrencies must adhere to a registration process. While the regulation appears to have been left over by the previous government, the fact that it’s moved forward and has now become law under President Javier Milei is disappointing to those who imagined Latin America was going to get another bitcoin-friendly leader. Source
Already sharply lower on the day, bitcoin slipped a bit further following the news, dipping under $65,000. It’s since bounced a bit, now trading at $65,200, down 4.7% over the past 24 hours. The broader CoinDesk 20 Index is lower by the same amount. Source
Market makers like Jump saw huge value, both in Figure Markets’ decentralization, as well as the possibilities of cross-collateralization. But they flagged another issue, the problem around liquidity for lend/borrow, and the ability to access capital from a lend/borrow standpoint, Cagney said. “Look at the prime brokers in crypto, there’s really only somewhere in the hundreds of millions of dollars of capital available to lend in an industry that could easily consume billions of dollars of capital a day.” Source