Weekly Newsletter – 26 May 2023
Bitcoin Drops Below $27k As Large Cryptos Fall Weekly Summary Industry Stories Binance Allegedly Commingled Customer Funds, Reuters Reported: According to unnamed sources cited in a Reuters report, Binance has been accused of commingling customer funds with its own corporate revenue in violation of U.S. financial regulations. The alleged breach occurred in 2020 and…
Weekly Newsletter – 19 May 2023
Top Stablecoin Issuers Taking Actions to Protect Reserves Weekly Summary Industry Stories XRP Gains as U.S. Judge Denies SEC Motion, Leading Ripple’s Court Victory: Ripple’s XRP saw a 7% increase in value after a judge denied the SEC’s motion to seal internal documents related to William Hinman’s speech. The judge ruled that the documents…
Weekly Newsletter – 12 May 2023
Market Drop on Liquidity Concerns as U.S. Regulatory Uncertainty Continues Weekly Summary Industry Stories Jane Street, Jump Crypto Slow Trading Over US Regulatory Uncertainty: Jane Street Group and Jump Crypto, two of the world’s top market-making firms, are paring back their trading of digital assets in the U.S. due to regulatory crackdowns on the…
Weekly Newsletter – 5 May 2023
Bitcoin, Ethereum Flat as US Fed Hikes Rates a Quarter points, Signalling a Pause Weekly Summary Industry Stories JPMorgan Chase Acquires First Republic’s Deposits as US Regulators Step in: JPMorgan Chase has acquired First Republic, after regulators took possession of the bank following its failed effort to avoid the deposit drain. This marks the…
Weekly Newsletter – 28 Apr 2023
Bitcoin Back above $29k after Mt Gox False Alert Weekly Summary Industry Stories Bitcoin Slumped and Rebounded in Hours amid False Alarm on US Government Dump: After briefly surpassing $30,000, Bitcoin’s price fell by approximately 7% in just one hour on April 26. The exact reason for the decline is unclear, but rumors circulated…
Weekly Newsletter – 21 Apr 2023
A Setback for Bitcoin, A Chance for Altcoins? Weekly Summary Industry Stories Bitcoin Slips After a Sudden Sell-off and Release of UK Inflation Data: Bitcoin dropped below $30k on Wednesday after a massive sell order on Binance and UK hot inflation data, according to Coindesk, now hovering near $29k. The fall caught traders who…
Weekly Newsletter – 14 Apr 2023
A New Era of ETH Staking Withdrawals Weekly Summary Industry Stories Ethereum Completes Shanghai Upgrade: Ethereum has completed its long transition to Proof-of-Stake (PoS) with the successful implementation of the Shanghai upgrade. The upgrade enables the withdrawal of staked ETH, making $34.56 billion worth of ETH available for withdrawal, for the first time since…
Weekly Newsletter – 7 Apr 2023
Next Stop, Shanghai Upgrade Weekly Summary Industry Stories Ethereum, Liquid-staking Tokens on the Rise Ahead of Next Week’s Shanghai Upgrade: Ahead of Ethereum’s much-anticipated Shanghai and Shapella upgrades on April 12, Ethereum and tokens powering liquid staking platforms are experiencing a surge in price. The upgrades include unlocking withdrawals for staked Ethereum on the…