Michael Egorov's Debt Positions Under Pressure, FTX Reboot Plan Submitted
Equity indices are stalling today, with the ^SPX -5.07% and NDQ both falling around 0.30%. The DXY (+0.38%) has continued its strong streak along with U.S. Treasury yields, with the US10Y holding above 4%. Crypto markets are struggling due to concerns about Curve founder Michael Egorovâs huge debt positions and speculation that SBF or Sam Trabucco could be responsible for the BALD rug. BTC (-1.43%) has fallen below $29k and ETH (-1.59%) is approaching $1,800. On a more hopeful note, VolatilityShares has filed for an Ether Futures ETF. Volatility Shares recently received approval for its 2x Bitcoin Futures ETF (the first leveraged BTC futures ETF), potentially signaling a posture change from the SEC. The Ether ETF would trade under the ticker ETHU and, if approved, would mark the first Ether Futures ETF.
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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 -5.07% and QQQ -4.62% 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 -1.21% briefly dropping below $62k and ETH -2.03% below $2.5k. Among altcoins, SUI -8.78% is showing...