Issue #56

Robinhood but 118k BTC, Onlyfans allocate working capital to ETH, Coinbase buys equity in Circle & more...

Market Overview

As of the time of writing (Monday 5pm), the total market cap of the crypto asset market is $US1.09T, down (-1.0%) from last week.

Below is the weekly performance of the top crypto assets. 

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News Headline Highlights

 Crypto Asset Project Updates

Regulation Station

  • The UK took a major step forward in its goal of becoming a crypto hub when King Charles III granted the Financial Services and Markets Bill (FSMB) the Royal Assent, formally making the bill an act of law.
  • Former employee at the NFT marketplace OpenSea was ordered to spend three months behind bars after being convicted in the first-ever insider-trading case involving digital assets.
  • FTX debtors revised the settlement proposal after objection from U.S. trustee. The latest proposal will see the debtors include the U.S. Trustee as a notified party and reduce the maximum settled value for claims covered by the procedures from the earlier $10 million to $7 million.

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Metric of the Week

Bitcoin (BTC) and the U.S. inflation-adjusted bond yield are again moving in opposite directions, exhibiting the strongest negative correlation in four months.

230829 metric

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