Tether Aims to Boost Transparency, SEC Withdraws Charges Against Ripple Execs

Oct 20, 2023
Market Update U.S equity markets are moving lower as bond yields dropped following the 10-year yield surpassing 5% yesterday, a peak not seen in sixteen years. Federal Reserve Chairman Powell indicated yesterday that the interest rates would stay unchanged in the approaching November meeting. However, he cautioned that should the economic scenario intensify, rate increases might be back on the table. Despite the cautious sentiment in traditional asset sectors, crypto has notably veered positively, with $BTC dominance rising to highs not seen since April 2021 at 52.5%. $BTC briefly climbed above $30k overnight for the second time this week but has since retreated to $29.5k. $ETH is also gaining, reaching $1.6k, although $ETHBTC remains near its recent lows at 0.054. $SOL has been a notable outperformer among the top 10, rising 6.2% over the last day and 25% over the last week. As we reiterated in our weekly Crypto Strategy note yesterday, we believe the move has been a counter-reaction to overblown fears about FTX estate liquidations, which led to oversold levels before this rally.Tether Holdings, the issuer of the world's largest stablecoin, Tether (USDT), aims to boost operational transparency by publishing real-time reserve data starting in 2024, a significant shift from the c

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CRYPTO MARKET UPDATE Despite rates moving lower today, the DXY is surging higher due to weak economic data from Europe. This is a major driver behind the move lower in crypto, with BTC 0.84% breaking below $67k, ETH 2.08% finding support around $3500, and SOL 4.26% hovering near $152 after bouncing off $150 this morning. Investors are treading carefully ahead of tomorrow's CPI and FOMC announcements, where headline inflation is expected at 3.4%...

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