POKKET: Crypto Market Update (June 29)
Bitcoin is flat at $34250, while ETH is ripping up +7% to $2080. Movers are COMP +21%, INH STMX +19%, BAL +16%, with the rest mostly following in positive territory.
Cathie Wood’s ARK Invest joins the Bitcoin ETF race as they file with the SEC and join the waiting list behind WisdomTree, Fidelity and VanEck.
Jack Dorsey is hinting at a potential crypto tie-in for Tidal with Jay-Z, after Square’s acquisition of the company back in March.
The most boomer news this morning comes from the UK, as the FCA has a ‘huge issue’ with Binance’s lack of HQ. A close second is Fitch Ratings warning against El Salvador’s Bitcoin move, saying banks would be put at more risk of money laundering, terrorist financing and other activities – the community will never forget the AAA ratings on garbage CLOs and CDOs right before the GFC. Either way, El Salvador has announced a national Bitcoin wallet, ‘ Chivo’, which is free to use and no transaction fees with incentives of $30 for any citizen who downloads the app.
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