Coinbase Strikes Back at the SEC and Genesis' Restructure Plan Collapses
Equity indices are falling today amid an action-packed week of corporate earnings. The SPY 0.09% (-0.81%) is trading just above $410, while the QQQ (-1.03%) is hovering around $313. After reaching its lowest level since November 2021, the VIX (+8.53%) is beginning to rise again. Crypto is in-line with equities as BTC (-0.49%) is trading at $27,300, and ETH (-1.39%) is trying to stay above $1,800. Arbitrum has completed its distribution of ARB tokens to its ecosystemâs DAOs. Airdrop allocations are providing a large boost to projectsâ value as a percentage of their market caps (see below). As a result, smaller Arbitrum tokens such as VSTA and PLS are outperforming amid a broader market selloff, rising 15.86% and 3.52%, respectively, over the last 24 hours.
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