What’s Poppin’?
by Samyuktha Sriram
Two major institutions have made new filings seeking the SEC’s approval of a spot Bitcoin ETF.
The major upgrade would address concerns around Polygon’s security model, legacy tech stack, and UX issues.
Alex Obadia warned of serious challenges ahead for the firm in a departure letter sent to the team.
The price of Bitcoin appeared to flash surge more than 400% for a few seconds on Binance’s U.S.-based subsidiary late on Tuesday.
On the Pod…
Daily Bits…✍️✍️✍️
💸 The bankruptcy proceedings of crypto exchange FTX have already incurred professional fees exceeding $200 million, as reported by court-appointed examiner Katherine Stadler.
💼 A Bitcoin wallet potentially linked to the notorious Silk Road darknet marketplace through a single transaction made a minor Bitcoin transaction, fueling speculation about the possible movement of seized crypto by the U.S. government.
🚫 The Canadian Securities Administrators (CSA) cautioned investors about crypto firms falsely asserting certifications from non-existent regulatory or dispute-resolution entities in attempts to appear legitimate.
📈 Grayscale Bitcoin Trust's (GBTC) share price surged due to optimism about a potential ETF conversion, narrowing the discount to net asset value to a multi-month low following BlackRock's Bitcoin ETF filing.
🔍 The North Korean hacking group Lazarus, which allegedly stole $35M from Atomic Wallet, reportedly used THORChain to hide around $870,000 of the stolen funds by converting Ether into Bitcoin.
🌏 Cryptocurrency exchange Gemini plans a major expansion into the Asia-Pacific region, which it views as a significant driver for future growth.
Today in Crypto Adoption...
🏦 Deutsche Bank AG requested regulatory approval from Germany's financial authority, BaFin, to operate as a cryptocurrency custodian.
The $$$ Corner…
💸 Reserve Protocol, backed by OpenAI CEO Sam Altman, invested $20 million in the Curve Wars, purchasing governance tokens from Curve, Convex Finance, and StakeDAO to boost liquidity for its dollar-pegged stablecoins.
🌍 Dtcpay, a Singapore-based fintech that processes both fiat and crypto payments, secured $16.5 million in a pre-Series A funding round led by Pontiac Land's Chairman, Kwee Liong Tek, for product enhancement and international expansion.
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Perpetual swaps are one of the most popular financial derivatives in the crypto markets, capturing a large share of global bitcoin trading volumes.
📈 Your Market Update 📉
BTC is up 7.8%, trading at $28,851
ETH is up 5%, trading at $1,814
BTC dominance: 46.67%
Crypto market cap: $1.17 trillion
*All data as of today, 7:20 am ET
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