JUST IN: Crypto is crashing
$BTC falls 5.85%
$ETH falls 7.45%
$XRP falls 4.95%
$SOL falls 6.20%
Over $870,000,000 in leveraged crypto positions have been liquidated in the past 4 hours.
This tech selloff is no surprise. I’ve been saying valuations are inflated for a while now, especially in AI.
IMO, only a handful of these companies have the fundamentals to justify their valuations.
Many won’t survive. Eventually, fundamentals catch up with valuations.
BREAKING: World's largest crypto exchange Binance hacked with over $5.6 billion stolen:
• $1.45 billion $BTC
• $875 million $ETH
• $234 million $TRX
• $50 million $XAUT
• $1.57 billion $USDT
• $823 million $USDC
• $75 million $WBETH
• $88.5 million $RLUSD
+ $447.5 million additional cryptocurrencies
This is the largest hack in crypto history.
🟠NEW: Jack Dorsey’s Square is enabling 60 million users to finance Bitcoin, pay bills in BTC, and allowing every Square merchant to accept it.
Wider payment access could move Bitcoin beyond an investment asset and into routine consumer and merchant activity.
Big development for crypto in the U.S.
The conversation is finally shifting from “how do we regulate crypto?” to “what should the rules actually look like?”
Regulatory clarity could be one of the biggest catalysts for the next phase of adoption.
🇺🇸 BREAKING: The CFTC has officially begun the process of writing new rules for U.S. crypto markets.
Chair Mike Selig says the goal is to bring crypto under a uniform national framework with greater regulatory clarity, consumer protections and safeguards against fraud.
Big news: Quant is partnering with @TCHtweets to bring on-chain, #programmablemoney to the US.
We will provide the interoperability layer that lets #tokeniseddeposits move freely within the regulated banking system.
This builds on our work in the UK, Europe and beyond.
Read the press release here: https://t.co/OQJXzfN3lr or the blog here: https://t.co/Y39YiIAZD6
#OnChainMoneyInitiative