Crypto markets remain resilient despite the 9.1% CPI print and news of distressed crypto lender Celsius filing for bankruptcy. Bitcoin continues to trade in its $19,000 to $21,000 trading region.
Ethereum underwent its second-to-last major Merge trial on public testnet Sepolia. The final trial of the Merge will occur on the Goerli testnet over the next few weeks before the official Merge on the Ethereum mainnet. To read more about the Merge, check out our previous newsletter.
DeFi protocol Aave has proposed a “native decentralized, collateral-backed stablecoin” called GHO. GHO will leverage Aave’s governance parameters and seeks to encourage the DAO to “innovate, support contributors” and more.
Crypto exchange Mt. Gox has released a “rehabilitation plan” to return 137,000 lost Bitcoin tokens ($2.8B) to investors from seven years ago. Creditors will have the option to receive USD, Bitcoin, or Bitcoin Cash.
Data from glassnode suggests that long-term holders are capitulating for an average loss of 33%. On the contrary, shrimps (investors with less than 1 Bitcoin), have ramped up accumulation as Bitcoin’s trend score has spiked to 92% – suggesting that investors are adding tokens to their portfolio.
Crypto lender Celsius has filed for Chapter 11 bankruptcy in New York just weeks after pausing withdrawals, swaps, and transfers on its platform.
The United States Department of Treasury delivered a framework on crypto to encourage the development of digital assets.

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