DoJ Purportedly Contemplates Filing Fraud Charges Against Binance, Egorov Sells More CRV tokens OTC

Market Update Equities and bond markets have extended recent losses from increased borrowing by the US. $SPX and $QQQ retraced by 0.3% and 0.2%, respectively, while the US10Y edges close to November highs at 4.2%. Apart from increased issuance in longer-term treasuries, the rise in bond yields have also been spurred by America's credit downgrade and a decline in corporate profits. $BTC and $ETH have experienced slight gains from yesterday's bearish daily engulfing, up by 0.5% and 0.2%, respectively. $CRV, after sliding from from $0.70 to $0.48 on Monday, is currently trading at $0.59. The volatile price action has seen $7m in long and $4m in short liquidations since, and current open interest is $118m on $515m market cap. As funding rates are largely flat from -251% annualized on Monday, any push down would likely arise due to spot selling. The United States Department of Justice is purportedly contemplating filing fraud charges against cryptocurrency exchange Binance. According to an August 2 report by Semafor, officials are hesitating due to potential detrimental effects on consumers. The concern arises from the anticipation of a possible run on the exchange, similar to the situation witnessed with FTX in November '22, if an indictment is filed against Binance. To mitigate