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PLUS: A day in the life of Binance’s head of law enforcement training – petty crooks, fake subpoenas, and dodging politically sensitive requests.
The jobs market remains strong, a concern for the U.S. central bank which seems intent on raising the Federal Funds rate 25 basis points.
Ripple's XRP, Solana's SOL and Lido Finance's LDO lost more than 4% in the last 24 hours.
Wall Street banks including J.P. Morgan also saw the ruling as a positive outcome for the crypto exchange.
A U.S. bankruptcy court previously granted the crypto lender permission to sell its altcoin holdings for bitcoin and ether starting in July.
The latest price moves in crypto markets in context for July 17, 2023.
Funding rates in perpetual futures tied to BNB are most negative in nearly three months.
The rising flows into Toronto-based Purpose’s spot bitcoin ETF, which received approval by Canadian regulators in 2021, reflect strong appetite among retail investors for these types of products and are a promising sign for U.S. companies who have recently filed spot BTC applications with the SEC.
Along with XRP’s strong week, 172 of 186 CoinDesk Indices assets finished in positive territory
Ripple's XRP was down 25% from its highest levels on Thursday.
- 11:34Ethereum's Market Cap Surpasses Coca-Cola, Rises to 40th in Global Asset RankingsMay 11 news, according to 8marketcap data, Ethereum's market value has surpassed $300 billion, overtaking Coca-Cola and rising to 40th place in global asset market value rankings.
- 11:25Weekly Token Unlock: 17 Tokens to be UnlockedThis week, a total of 17 tokens were unlocked, a rare occurrence of a similar number being unlocked in the same week. Among them, LAYER and STRK have relatively high unlock ratios. Solayer Project Twitter: https://x.com/solayer_labs Project Website: https://solayer.org/ Number of tokens unlocked this time: 27.8 million Value of tokens unlocked this time: approximately $33.91 million Solayer is building infiniSVM to scale Solana, a hardware-accelerated SVM that infinitely scales through a multi-execution cluster architecture connected by SDN and RDMA, achieving high concurrency while maintaining atomic state. The current circulation ratio of LAYER is 22%, so this round of unlocking is relatively high, with 17.64 million tokens (worth $21 million) for the community and 9.38 million tokens (worth $11.16 million) for the foundation. It should be noted that LAYER has previously experienced a sharp decline, and although the unlock ratio is high this time, it is expected to have little negative impact. The specific release curve is as follows: Starknet Project Twitter: https://twitter.com/Starknet Project Website: https://starknet.io/ Number of tokens unlocked this time: 127 million Value of tokens unlocked this time: approximately $33.93 million Starknet is Ethereum's Layer 2, utilizing zk-STARKs technology to make Ethereum transactions faster and cheaper. Starknet's parent company, StarkWare, was founded in 2018 and is headquartered in Israel. Its main products include Starknet and StarkEx. By using STARK, Starknet verifies transactions and computations without requiring all network nodes to verify each operation. This significantly reduces the computational burden and increases the throughput of the blockchain network. The unlocking process for STRK investors is about to accelerate, with this week's unlocks being 66.61 million tokens for early contributors, valued at approximately $11.79 million, and 60.39 million tokens for investors, valued at approximately $10.69 million. The specific release curve is as follows:
- 11:13Opinion: BTC and ETH Credible Neutrality Involves Token Distribution, Transparency, Jurisdictional Relationships, and DevelopersFormer Facebook stablecoin project leader David Marcus posted on the X platform to refute 1confirmation founder Nick Tomaino's view that ETH is by no means neutral. In response, Nick Tomaino stated that credible neutrality can be defined from three aspects: 1. Token distribution and transparency: BTC has 0% internal distribution. Anyone can participate as a PoW miner with complete transparency, while ETH has a 10% internal distribution and previously used PoW mining. Solana has an internal distribution of 62%, with early lack of disclosure on token distribution and validators, generally lacking transparency; 2. Jurisdictional relationships: Bitcoin initiated the internet-native, Ethereum is building the internet-native with the global community, while Solana is more like a "corporate token" and has participated in U.S. lobbying; 3. Developer platform: Bitcoin does not have a good developer platform, whereas Ethereum has numerous important use cases (stablecoins, DeFi, NFTs, prediction markets, decentralized social networks, etc.). Ethereum prioritizes providing a decentralized platform for developers and companies, with Coinbase, Blackrock, Fidelity, Stripe, Kraken, Deutsche Bank, Sony, Visa, Polymarket, Uniswap, Aave, and Opensea all building within the Ethereum ecosystem.