The Block
Ahead of the U.S. Federal Reserve’s interest rate decision on Wednesday, QCP Capital analysts report rising cryptocurrency market volatility.Interest rate traders have adjusted their expectations and are now betting the Fed will announce a 50 basis-point cut at Wednesday’s FOMC meeting.
BlackRock’s IBIT generated positive flows on Monday for the first time in three weeks as spot Bitcoin ETFs witnessed a combined $12.8 million in net inflows.Meanwhile, spot Ethereum ETFs returned to daily net outflows of $9.4 million.
Quick Take WalletConnect is launching its native Connect Token on Optimism’s OP Mainnet. A total of 185 million WCT will be airdropped to users, CEO Jess Houlgrave told The Block.
Quick Take Web3 investor and ex-ParaFi Capital partner Santiago Roel Santos announced the launch of Inversion Capital, a new private equity fund designed to acquire traditional businesses and transform their operations by adopting crypto.
Quick Take FTX has filed some 25 lawsuits seeking to claw back funds from various individuals that received funds from FTX, including Anthony Scaramucci, the team behind StoryBook Brawl, an exploiter who siphoned hundreds of millions of dollars from FTX, and the head of a bank that received a massive investment. The exploiter, despite allegedly profiting hundreds of millions of dollars from FTX while it was in operation, filed a bankruptcy claim with his personal information for $13 million stranded on the
Quick Take Donald Trump helped unveil a few details of his highly anticipated cryptocurrency project, World Liberty Financial, on Monday night. The Republican presidential nominee said crypto is “big and yet it’s a fledgling compared to what it will be.” World Liberty Financial will sell a non-transferable governance token called WLFI and plans to limit participation to accredited investors.
Quick Take The SEC said Flyfish “conducted an unregistered offering of crypto asset securities,” when it sold 1,600 NFTs to U.S. investors. Republican Commissioners Hester Peirce and Mark Uyeda said the settlement “undermines trust in Chef SEC.”
Quick Take Donald Trump, who is slated to announce the official launch of the crypto project at 8 p.m. on Monday, has said he is “embracing the future of crypto.” TD Cowen Washington Research Group’s Jaret Seiberg said the project could be a “significant political problem for the crypto sector.”
MicroStrategy is selling up to $700 million in senior convertible notes to fund additional bitcoin purchases and buyback debt.The firm holds about $14 billion worth of bitcoin, including a $1 billion purchase last week.
Quick Take The 7DMA for daily staker revenue on Ethereum fell to $5.44 million last Thursday, recording its lowest figures since the middle of February. The following is an excerpt from The Block’s Data and Insights newsletter.
