The Block
Bitcoin’s price dropped by over 3% in the past 24 hours amid a “long squeeze” in the perpetual futures market, according to CryptoQuant data.The crypto market downturn coincided with growing caution in global equities as investors brace for potential interest rate hikes from the Bank of Japan that could impact overall risk sentiment.
Quick Take Solana’s chain fees are now 80% of Ethereum’s, up from just 1.36% last November. This column is adapted from The Scoop newsletter.
Quick Take Gary Wang pleaded guilty in December 2022 to fraud-related charges following the collapse of FTX a month earlier. Bankman-Fried and Wang first met at a summer math camp during high school and maintained their friendship through college at MIT.
Quick Take Olumide Osunkoya pleaded guilty to running multiple crypto ATMs, without FCA registration, which processed more than £2.6 million ($3.5 million) in transactions. The FCA says there are no legal crypto ATM operators in the UK.
Quick Take Australian bank ANZ announced it has joined the Monetary Authority of Singapore-led Project Guardian to “explore broader access to tokenized real-world assets in financial markets.” Deutsche Bank in May joined the project, a collaboration between public and private organizations, to help test asset tokenization implementation.
Quick Take U.S. lawmakers are on recess now until after the election, leaving just the lame-duck session to pass bills. Stablecoin legislation could pass under a “best case scenario,” TD Cowen Washington Research Group’s Jaret Seiberg said on Monday. Senate Banking Committee Chair Sherrod Brown’s Ohio race also adds another wrinkle to passing crypto bills.
Quick Take The Ethereum Foundation has sold over $10 million worth of ether this year, according to on-chain data posted by Lookonchain. The foundation has recently been criticized for large transfers of ether, while some in the community demand more transparency.
Quick Take World Liberty Financial, the DeFi project being launched with the backing of the Trump family, has opened up KYC verification on its official website. On Sept. 16, it was confirmed that World Liberty Financial would sell a non-transferable governance token called WLFI.
MicroStrategy has upsized its latest convertible senior note offering from $1.75 billion to $2.6 billion.The firm intends to use the net proceeds from the offering to “acquire additional bitcoin and for general corporate purposes.”
