Binance’s recovery fund grows

Binance has allocated another $1 billion for its industry recovery fund, raising its size to more than $2 billion. Other cryptocurrency companies like Aptos Labs and Jump Crypto joined Binance’s initiative and plan to contribute $50 million.

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Do Kwon reportedly arrested

The Interior Minister of Montenegro claims Do Kwon has been arrested in Podgorica, the capital of Montenegro. The identity verification should be confirmed soon.

SEC’s fight with crypto intensifies

The SEC filed a new lawsuit against Jake Paul, citing crypto promotions without disclosing the payment he received for the promotion. Justin Sun is being sued for fraud and market manipulation. The SEC alleges unregistered sales of securities (TRX and BitTorrent). Moreover, Coinbase received a Wells Notice focused on staking and asset listing.

Magic Eden supports Bitcoin NFT trading

Magic Eden has become one of the first major NFT marketplaces to support Bitcoin NFTs (Ordinals). The company aims to leverage the rising interest in Ordinals after over 560,000 inscriptions were made. This is the fourth supported blockchain after Solana, Ethereum, and Polygon.

Texas introduces a Bitcoin bill

Texas introduced a bill that should protect Bitcoin miners, holders, and developers. The bill explains how Bitcoin made several technological breakthroughs, including blockchain and distributed ledger.

Crypto optimism grows

After Balaji made a bet that Bitcoin would hit $1 million, Strike CEO, Jack Mallers, joined him. This is due to fears of hyperinflation in the US. In the meantime, the fear and greed index reached 16-month highs, bringing euphoria to the crypto market.

Cryptocurrencies continue to skyrocket

Despite the recent rally, the crypto market continues to take off. Bitcoin jumped more than 8%, and Ethereum is up 3.7%.

More market movers

Do Kwon reportedly arrested

The Interior Minister of Montenegro claims Do Kwon has been arrested in Podgorica, the capital of Montenegro. The identity verification should be confirmed soon.

BoE lifts interest rates again

The Bank of England lifted the UK’s interest rates by 25 bps, the eleventh rate hike in a row. The interest rates were increased from 4% to 4.25%, reaching 15-year highs, with the aim of bringing inflation down.

Firms invest $250m in eToro

Trading platform eToro raised $250 million in an advanced investment agreement, topping the company’s valuation at $3.5 billion. ION Group, Social Leverage, SoftBank, and other major industry players invested in eToro in the recent deal.Β 

SNB raises interest rates to 1.5%

The Swiss National Bank joined the Fed with another rate hike of 50 bps. The interest rates were increased from 1% to 1.5%, the highest since 2008. The central bank suggested more rate hikes could occur this year.Β 

SEC’s fight with crypto intensifies

The SEC filed a new lawsuit against Jake Paul, citing crypto promotions without disclosing the payment he received for the promotion. Justin Sun is being sued for fraud and market manipulation. The SEC alleges unregistered sales of securities (TRX and BitTorrent). Moreover, Coinbase received a Wells Notice focused on staking and asset listing.

EUR/USD rises above 1.0900

EUR/USD rose above 1.0900 after the Fed raised interest rates, the highest since early February. Another Fed’s rate hike of 25bps was delivered, but the US dollar weakened all around the place.

News

Mixed messages after the Fed – markets are in a waiting mode
SP500
0.3%

Mixed messages after the Fed – markets are in a waiting mode

The US market turned green across the board as volatility makes for a roller coaster trading.
Natural gas lifted after EIA data – is gas dead?
NG
-2.13%

Natural gas lifted after EIA data – is gas dead?

The fresh EIA storage data lifted the price of natural gas, however nothing ground-breaking happened. Will we see a rise ever again?

FTSE struggles after BoE hike – future movement uncertain

Another rate hike seems to have disrupted the short-term bullish trend in the FTSE index.

US President’s Economic Report is wrong about crypto – here’s why

The fight between cryptocurrencies and central bank digital currencies (CBDCs) intensifies with the recent issue of the president's publication.