BitDigest March 19 · Issue #618
- Crypto markets are late to celebrate St. Patrick’s Day, but shining green this morning. Excluding dollar pegged stable coins, the top 50 digital currencies on Coinmarketcap.com are all in positive territory over 24-hours
- Singapore’s financial watchdog has released updated AML guidelines covering virtual assets
- South Korea and Canada are preparing own oversight regimes ahead of the G7’s upcoming FATF implementation deadlines
Every few days I ending up talking about one of the North American public companies participating in the digital currency ecosystem. While I will continue to report on their respective corporate announcements, I am going to start providing the following basic chart every week to show key market data. I am happy to consider adding names to this list.
The Headlines
Singapore Updates AML Crypto Guidelines
Canada to Increase Crypto Oversight and Surveillance
South Korea Preparing for FATF Crypto Framework
Hawaii Launched Digital Currency Innovation Lab
Gemini Growing European Team
Market Data
Bitcoin Activity Increasing
Competition Among Miners Increasing as Pool Dominance Subsides
Exchange, Custody and Product News
Huobi to Eliminate Sudden Liquidations of Leveraged Positions
BitGo Increasing Insurance Coverage Over $100M
Binance Introduces Peer-to-Peer Trading for South American Currencies
Thoughts on the Ecosystem
BitMEX Questions Regulatory Approval of Central Bank Digital Currencies
Bitcoin Will Still 'Moon'
Reports you may have missed
U.S. equity indices are under pressure today following disappointing economic growth in conjunction with hotter-than-expected prices paid, sparking stagflation fears and reducing the chances of rate cuts. The $SPY has declined 0.91% to test $501 and the $QQQ has dropped 1.12% to $421, being weighed down by a 12% drop in META following its Q1 earnings release. Crypto markets are faring better, with BTC0.75% (-0.28%) trading at $64k and ETH1.04% ...
The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
Blockchain Association Sues the SEC, Cosmos Patches Potential Reentrancy Vulnerability
U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC0.75% ...
After significantly outperforming equities leading up to its halving event on Friday, BTC0.75% continued its upward trend over the weekend, now trading just below $66k. ETH1.04% has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. SOL-1.08% , meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well...