BitDigest June 12 · Issue #678
- Crypto markets fall 3% with yesterday’s stock market sell-off
- Indian government looking to stop crypto discussion with countrywide ban of digital currencies
- Estonia withdraws one-third of all crypto licenses in an effort to respond to money laundering accusation
More mistakes?
Two more transfers have occurred with significantly large fees, raising questions as to whether the sender confused the transfer amount and fee or an attempt to nefariously transfer money is occurring. In the first transaction yesterday, a user sent 350 ETH ($82,000) with a transaction fee of $2.5 million. Late yesterday a second ETH transfer occurred with someone paying $550,000 to send 3,221 ETH ($750,000).
Crypto Startup School
A16z’s (Andreessen Horowitz) Crypto Startup School has released three new videos to the library for its online class: How and Why to Decentralize Your Project with former a16z partner Jesse Walden and Compound CEO Robert Leshner, Developer Community Building with a16z partner Chris Dixon and Git-Hub CEO Tom Preston-Werner, and Managing a Distributed Workforce with a16z People Practice partner Tina Ferguson.
The Headlines
Market Data
Exchange, Custody and Product News
Reports you may have missed
Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...
MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 3.06% falling to $60k and ETH 0.90% approaching the low $2,300s. Aptos (APT -1.11% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE 4.36% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 3.06% climbing back above $61,000 and SOL 7.21% moving above $145, while ETH 0.90% is lagging, trading around $2,400. Among today's outperformers is SUI 7.07% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...
MARKET UPDATE Markets are selling off in the first day of Q4, fueled by geopolitical fears as tensions rise in the mid-east. The SPY 1.88% and QQQ 2.20% have dropped 1.14% and 1.92%, respectively, while the VIX has surged over 17%. XAU and DXY are gaining as investors move towards safe-havens. Crypto assets have also sold off, with BTC 3.06% briefly dropping below $62k and ETH 0.90% below $2.5k. Among altcoins, SUI 7.07% is showing...
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