📜$30B Grayscale Might Sue the SEC #114
The world's largest crypto asset manager continues its struggle.
In today’s issue:
The crypto market is flat with the total market cap sitting at $2.1-2.2 trillion. Zilliqa (ZIL) continues to be the best performer in the past 7-d. Global markets continue to be on edge as the yield curve might become inverted fairly soon.
In other news, CME goes live with micro BTC and ETH options, CFTC seeks more funding for crypto training, and Grayscale might sue the SEC over its ETF application.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆CME Goes Live With Micro BTC and ETH Options
Chicago Mercantile Exchange (CME), which was known for being one of the first legacy financial players to offer a crypto asset-related product back in 2017, has expanded its offerings with micro-sized BTC and ETH futures options. While CME has arguably captured a significant market share for crypto futures, it is still lacking significantly behind compared to Deribit in the options market.
⎆CFTC Seeks More Funding for Crypto Training
In its budget proposal for the 2023 fiscal year, the CFTC is requesting additional funding for crypto training as the number of derivatives clearing organizations (DCOs) that are exploring digital assets is increasing. This marks another move by the CFTC to get more power over the crypto-asset market compared to the SEC.
⎆Grayscale Might Sue the SEC
As Grayscale tries to convert its $30 billion Bitcoin Trust into a physically-backed ETF, it has been facing a lot of challenges and pushback from the SEC. With the final deadline coming soon for the SEC to make up its mind about Grayscale’s Bitcoin Trust, the firm’s CEO Michael Sonnenshein stated that the firm would consider anything on the table including a lawsuit.
👨🏻💻Decentralized Finance (DeFi)
COW Airdrop Become Transferable
CME Group Adds Micro-Sized Bitcoin, Ethereum Options
Aztec’s ETH Deposit has Crossed 20,000 ETH
iZUMi’s LiquidBox has Deployed on the Arbitrum
Beamer Bridge is now Live on Testnet
Terra's LUNA Sets New All-Time High Following $135 Million Bitcoin Buy
🏛Governance - Active Proposals
ENS - Execute EP8 and EP10
Nouns DAO - Marketplace Pod Proposal
PoolTogether - PTIP-67 Move 400k PTaUSDC to Prize Reserve
🦮NFT & Metaverse
Mark Karpeles Announces Commemorative NFT Drop for Mt. Gox Users
Why NFT Adoption is so High in South Korea
WWE Signs Deal to Launch NFTs Through Fanatics’ Candy Digital
World of Women Galaxy Ethereum NFT Drop Generates $79M in a Day
Someone Just Sold a Bored Ape Ethereum NFT for Only $115
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Blur - $11M Seed Round
Cross The Ages - $12M Seed Round
⚖️Regulatory Update
SEC's New Proposal to Redefine 'Dealer' Could Spell Bad News for DeFi
Crypto Privacy Positions Harden Ahead of Crunch EU Vote
Japan to Plug Loophole to Prevent Russia From Evading Sanctions Via Crypto
Sudan's Central Bank Warns Against Using Crypto
India Identifies 11 Crypto Exchanges Accused of Tax Evasion
FTX Taps Ex-Liechtenstein Regulator as EU Strategy Lead
US Lawmakers Introduce 'ECASH' Bill in New Push to Create a Digital Dollar
Rio de Janeiro to Allow Real Estate Tax Payments With Crypto
📚Noteworthy Reads
Ming Zhao’s Thread on Demystify & Optimize Your (Crypto) Taxes 101
Sam Ragdale’s Read on Privacy-Protecting Crypto Airdrops
Neron’s Read on Interest Rate Derivatives and Crypto
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.