What happened in Crypto in the last 12 hours:
• $370 million was liquidated in the cryptocurrency market in the last hour.
• The Nikkei's biggest two-day drop in history, surpassing Black Monday.
• Jump Trading has likely been offloading $ETH, taking $500 million out of bets over the last 2 weeks. Rumors suggest that they are exiting the cryptocurrency maker business.
• According to Axios, the US has warned the G-7 that Iran could strike Israel within the next 24 hours.
• Berkshire Hathaway sold more shares this quarter than ever before. The market perceives this as a red flag of a major recession.
• Trump's momentum has given way to Kamala's. Polymarket shows Trump at 52% and Kamala at 45%, with the gap narrowing.
• The unwinding of the yen carry trades is reducing global liquidity, affecting asset prices across all markets, including US Treasuries and cryptocurrencies.
• Korean financial authorities identify possible price manipulation in $AVAIL during Bithumb listing. This could mean fewer listings on Korean exchanges for a while.