DCG Misses $640m Payment, 3AC's NFTs Fetch $2.5m, and Pudgy Penguins Launch Toys on Amazon

Market Update Equity markets opened the week with mixed results while bonds yields ticked higher as investors eagerly await updates on debt-ceiling negotiations. Relative to last week's close, $NDAQ is trading at -0.2%, $SPX is flat (+0.1%), while $QQQ is changing hands at +0.4%. US02Y and US10Y are up 1% on the day, reflecting the President's and House Speaker's meeting later today in an effort to avoid a technical default. Digital asset markets are relatively flat in the past day - $BTC and $ETH are trading at -0.1% and +0.1% over the period. After its meteoric rise in the past 3 weeks, $PEPE has seen a prolonged retracement, declining by 5.4% over the past day. While $RNDR has retraced by 3.5% in the past 24 hours, the decentralized GPU network has been the biggest gainer in the top 100 for the past week (+33.6%), coinciding with strength in metaverse-related tokens. Crypto exchange Gemini reported that the Digital Currency Group (DCG) has missed a $630 million payment to its bankruptcy-stricken subsidiary, Genesis Global Capital. Gemini, a creditor to Genesis, has partnered with other creditors to provide forbearance to DCG to avoid a default. Should no agreement be reached with DCG, Gemini intends to work with other creditors to propose an "amended plan of reorganization"