Correction in crypto markets started from last night as TradFi markets took a hit from Evergrande contagion. SPX futures are down -1.7% and FAANGs down -2.3%, a good excuse for weaker hands and leverage to evaporate in crypto.
Bitcoin is -9.1% to $42.9k, ETH is lower -10.8% to just below $3k. Movers are OMG +11%, INJ -20%, AUDIO POND -19%, FTM -18%, DODO ALICE CRV SRM -17%, PUNDIX BZRX TRU OGN ALPHA -16%, and it continues on.
Coinbase caved in to the SEC and has dropped their lending product plans, despite all the noise Brain Armstrong created.
FTX establishes subsidiaries in Gibraltar and the Bahamas and were awarded crypto licenses in both jurisdictions, as it continues to show it is willing to work with regulators — SOL dipped -13.5% overnight.
DeFi platform pNetwork was attacked for 277 bBTC (wrapped BTC) worth $12M yesterday, and has issued a $1.5M bounty for funds to be returned.
Ripio, a Latin-America based crypto services firm, has raised $50M in a Series-B round led by DCG, Draper Ventures and Boost VC among others to aid in their expansion of exchange offerings and acquisitions in the region.
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