Binance Alleges SEC Overreach, FTX Claims Surge

U.S Equities are bouncing after a three-day losing streak, but both the S&P (-2.2%) and Nasdaq (-2.5%) are set to close down for the week. The 2-year and 10-year treasury have reversed 0.87% and 1.38% respectively, after reaching 15 year highs this week. To counter the higher for longer environment, concerns are rising around a likely U.S government shutdown, which could hurt consumers and the economy. While detrimental to economic activity, this could be seen as a positive in the current ‘bad news is good news’ market sentiment, since it may contribute to taming inflation. BTC and ETH gained 0.23% and 0.81% over the last day. TON has continued to outperform among large caps, rising 18.6% this week, overtaking Tron to enter the top 10 and nearly on par with SOL 1.28%  at a MC of ~$8bn. The Telegram team has officially endorsed TON network as its blockchain for Web3 infrastructure, creating an in-app wallet that allows merchants to accept crypto payments on its popular messaging app.