Court Partially Dismisses SEC's Lawsuit Against Coinbase, Kucoin Charged by DOJ and CFTC for AML Violations
Crypto markets are declining following news that most of the SECâs lawsuit against Coinbase will proceed (more below). BTC (-1.27%) reached intraday highs of $71.8k before declining to $69k after the news. Rumors have circulated that Morgan Stanley and PNC will soon approve access to Bitcoin ETFs on their wealth management platforms. Together, Morgan Stanley and PNC hold over $1.5 trillion in client assets and likely will provide a tailwind for ETF flows. Inflows yesterday totaled $418 million, helping to offset last weekâs record outflows. ETH (-1.78%) is trading near $3,500, as Fidelity filed an S-1 for its Ether Spot ETF this morning, posing interesting timing given the recent pessimism surrounding potential approvals. Fetch.AI (FET -1.80% ), SingularityNET (AGIX -0.10% ), and Ocean Protocol (OCEAN) have agreed to merge into an âArtificial Superintelligence Allianceâ to create one token (ASI) encompassing all three protocols with an FDV of $7.5 billion, pending governance approval. All three respective tokens have surged over 10% following the proposed merger.
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Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 0.02% falling to $60k and ETH -3.71% approaching the low $2,300s. Aptos (APT N/A% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE -7.52% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 0.02% climbing back above $61,000 and SOL -3.72% moving above $145, while ETH -3.71% is lagging, trading around $2,400. Among today's outperformers is SUI -6.38% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...
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 0.11% and QQQ 0.23% 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 0.02% briefly dropping below $62k and ETH -3.71% below $2.5k. Among altcoins, SUI -6.38% is showing...
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