Thu, August 3, 2023 | 12:45PM ET

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

Name: FS Insight
Price range: $$$

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.

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