✅ At the beginning of the week we had the biggest market sell-off in a long time. Maro-economic factors together with geopolitical tensions led to a sell-off in the stock market. As a result, whales bought at lower prices while weak hands sold. Crypto market has recovered, but only partially 🤷♀️
Weekly news digest:
🔸 XRP is not a security, the SEC lawsuit against Ripple is officially over
🔸 Ronin Network lost 3,996 ETH worth over $9.8 million in an exploit 💰
🔸 Aave DAO and Trident launched a $100 million on-chain fixed-yield loan
🔸 Tether has printed over $1 billion worth of USDT that was sent to multiple CEXs since Aug. 5
🔸 Binance recorded a net inflow of $1.2 billion in the past 24 hours. Perhaps whales deposited to buy a dip?
🔸 A judge has ordered both FTX and its sister trading firm Alameda Research to pay out $12.7 billion to creditors following the conclusion of a CFTC lawsuit
🔸 In 2024 Binance managed to recover or freeze $73 million in stolen user funds
🔸 London-based Capula Management hedge fund revealed $420 million in Bitcoin ETF investments
🔸 JPMorgan has raised its estimate of the likelihood of a U.S. recession by the end of 2024 to 35% 😨
🔸 Bank of Japan promised not to raise rates when markets are unstable 🇯🇵
🔸 The NISE has filed a proposal with the SEC to approve options trading on an Ethereum trust managed by BlackRock
🔸 Franklin Templeton’s blockchain-based Nasdaq-listed OnChain U.S. Government Money Fund, FOBXX, has launched within the Arbitrum ecosystem
🔸 The Brazilian Securities and Exchange Commission has approved a Solana-based exchange-traded fund
🔸 X has agreed to halt the collection and processing of user data in the European Union 🇪🇺
🔸 SEC has delayed its approval decision regarding the Hashdex Nasdaq Crypto Index US ETF
🔸 Elon Musk confirms that he will be doing an interview with Donald Trump on X next Monday
🔸 Donald Trump's sons are teasing some "big announcement" related to crypto
