Market Analysis

Lido Seeks to Reform Voting With Dual Governance

Key Takeaways The Lido community is considering a new approach to protocol decision-making called dual governance. Currently, only LDO holders can vote on decisions; the new approach would give stETH holders veto rights as well. The plan also seeks to solidify parts of the Lido protocol by placing them outside the control of the Lido […]

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Market Analysis

Babel Finance Halts Withdrawals, Citing Low Liquidity

This month’s far-reaching crypto liquidity crisis has affected yet another company. Key Takeaways Babel Finance suspended withdrawals and redemptions today, citing liquidity pressures as its reason for doing so. The firm did not say if or when it would resume services but said that it would provide a separate notification on this. Babel also alluded […]

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Market Analysis

Fed Sounds Alarm on “Recent Strains” in Stablecoin Market

U.S. government agencies are taking a close look at the stablecoin market following Terra’s dramatic meltdown. Key Takeaways A new report from the Federal Reserve mentions stablecoins and the risks they pose to the stability of the financial system. The report said that “recent strains” in the stablecoin market highlight the fragility of the ecosystem. […]

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Market Analysis

Ethereum price risks a drop below $1K if these key price metrics turn bearish

Ether (ETH) price is down 37.5% in the last seven days and recent news reported that developers decided to postpone the network’s migration to a proof-of-stake (PoS) consensus. This upgrade is expected to end the dependency on proof-of-work (PoW) mining and the Merge scalability solution that has been pursued for the past six years. Competing […]

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Market Analysis

Genesis Trading Confirms “Large Counterparty” Liquidation Amid 3AC Crisis

Genesis Trading CEO Michael Moro has confirmed that the firm liquidated “a large counterparty” that failed to meet a margin call this week. Key Takeaways Genesis Trading CEO Michael Moro has confirmed that the firm liquidated “a large counterparty” this week. Though he didn’t name the counterparty, he was likely referring to the troubled crypto […]

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Market Analysis

Immutable Launches $500M Ecosystem Fund to Boost GameFi Adoption

Key Takeaways Immutable has launched a $500 million ecosystem development fund to support projects building on its Ethereum Layer 2 scaling platform, Immutable X. The fund will utilize a mix of cash and its native token IMX to fund Web3 developers and incentivize their long-term alignment with the ecosystem. Despite the depressed market, Immutable’s fund […]

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Market Analysis

Troubled Crypto Giant 3AC Weighing Asset Sales, Bailout Options: WSJ

Key Takeaways Three Arrows Capital is considering selling its assets or seeking rescue from another firm to deal with its ongoing liquidity issues, The Wall Street Journal has reported. The crypto hedge fund has hired financial advisors and legal experts to help it work out a path forward. Three Arrows co-founder Kyle Davies revealed that […]

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Market Analysis

Regulators Need to Establish Whether MEV Is Illegal: BIS Report

The Bank for International Settlements has published a new research paper comparing MEV to illegal market manipulation in traditional markets. Key Takeaways A new Bank for International Settlements research paper has likened MEV to illegal market manipulation in traditional markets. The paper suggests that regulators must establish whether MEV is illegal and whether current insider […]

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Market Analysis

Panama President Vetoes Crypto Bill Over Laundering Risks

President Cortizo has partially vetoed Bill No. 697 citing the Financial Action Task Force’s money laundering guidelines. The bill will now go up for another vote in Panama’s National Assembly.  President of Panama Strikes Down Crypto Bill  The President of Panama has called for amendments to the country’s crypto-focused Bill No. 697.  President Cortizo partially […]

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Market Analysis

GBTC premium hits -34% all-time low as crypto funds ‘puke out’ tokens

The largest Bitcoin investment vehicle, the Grayscale Bitcoin Trust (GBTC), is now trading at its biggest ever discount to the spot market. Data from on-chain analytics resource Coinglass shows GBTC shares down 34% versus Bitcoin (BTC)/USD on major exchanges as of June 17. GBTC suffers in market downturn Amid continued turmoil in decentralized finance (DeFi) […]

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