The options market is still valuing options that settle in the underlying rather than in USDC at a relative premium due to a continued concern of a further depeg, one observer said.
MEV Rewards on Ethereum Reach All-Time High During SVB Bank Run and USDC Depeg
Profits made from MEV were more than twice as high as the last peak during the FTX implosion.
Bitcoin Isn’t Trading as a Currency, but as a Speculative Asset: Morgan Stanley
The cryptocurrency isn’t isolated from the traditional banking system, and its price is supported by U.S. dollar liquidity, the report said.
Decentralized Exchanges Posted Record $25B Daily Volume as USDC Depegged
The previous high of $24.3 billion occurred in May 2021, when bitcoin was worth roughly $65,000 and ether $4,400.
Australia’s Treasury and Reserve Bank Held Consultations With Coinbase, Others: Report
Australia’s central bank and Treasury have held meetings with international crypto industry executives on the future of digital assets and regulation in the nation.
Voyager-Binance.US’ $1B Deal Should Be Halted, U.S. Government Says
The Department of Justice doesn’t like provisions that would render the company immune from prosecution for former wrongdoing
Ethereum’s Network-to-Value Ratio Slides to 3-Month Low as ETH Rallies 20%
The widely-tracked ratio measures ether’s market capitalization in relation to the value of onchain transactions processed on the Ethereum network.
Bitcoin, Ether Volatility Stuns Bears And Bulls Alike; Some Say Recent Price Action Driven by Bank Crisis
Some market observers say bitcoin’s recent price movements were largely driven by investors looking for alternative assets to park their funds amid a banking clampdown in the U.S.
Euler Finance to Offer $1M Reward as It Reels From Nearly $200M Exploit
Euler has sent multiple on-chain messages to the attacker in the past 48 hours.
Over Two Billion USDC Stablecoin Burnt in Single Day, Data Shows
USD Coin holders are not rushing back to holding the token just yet.
First Mover Asia: Bitcoin Holds Near $25K as Investors Remain Upbeat About Inflation Data, Fed Rate Hikes
ALSO: Two prominent crypto executives say the industry must learn from the failings of Signature, Silicon Valley and Silvergate banks if it hopes to develop productive banking relationships. Ether and other cryptos also rise.
NounsDAO Approves Proposal for Feature-Length NFT Movie
The decentralized autonomous organization will move ahead with plans to produce an animated film based on its popular 8-bit NFT characters.
U.S. DOJ Was Investigating Signature Bank’s Work With Crypto Clients: Bloomberg
Prosecutors were looking at the crypto-friendly bank before regulators seized it, people familiar told Bloomberg.
Blockchain Firm RockX Unveils Institutional Liquid Staking Platform
Last month, liquid staking became the second-largest crypto sector when the total value of assets locked reached $14.1 billion.
Circle USDC Rebounds From De-Pegging, but Stablecoin Observers See an Uncertain Future
Nearly 4 billion USDC has been removed from the circulating supply since Friday with more USDC being burned than minted, data shows.
Bitcoin Gains Early, Fades Late to Trade Below $25K
BTC had surged to a 9-month high above $26,500 after the latest inflation data before retreating.
EU Parliament’s Smart Contract Plans Limit Standard-Setting Promise, EU Commissioner Says
Controversial lawmaker proposals on data use may no longer meet original objectives, Thierry Breton told reporters
Staked ETH Withdrawals Being Processed on Ethereum Goerli Testnet Ahead of Shanghai Fork
Ethereum developers still need to set a date for the Shanghai hard fork to go live on the mainnet blockchain.
Signature Bank Shutdown Caused by ‘Crisis of Confidence’ in Leadership, NYDFS Says
The New York Department of Financial Services denied that Signature Bank was shut down for crypto-related reasons, instead saying the bank’s leadership did not provide reliable information about its operations over the past weekend.
In About-Face, Crypto Exchanges Abandon Support for STG Token Reissuance
Stargate Finance’s original STG token is gaining support again after StargateDAO canceled its plans to reissue STG following a dispute with FTX liquidators.