The crypto ecosystem continues to move quickly ⚡️. Regulators, companies, and markets are setting the pace of the day. Here’s what you need to know so far:
🏛️ Regulators in action
🇺🇸 Federal Reserve (U.S.): Michelle Bowman proposes that central bank employees be allowed to hold small amounts of crypto 💰. The idea is that this way they can better understand digital assets.
🇬🇧 FCA (United Kingdom): creates a specialized team to oversee crypto assets 👀. They aim to accelerate processes and combat unreliable companies.
🇮🇳 India: The CBDT asks the industry for suggestions on regulation, taxes, and oversight 📜. They are considering easing the TDS (1%) and allowing tax loss offsets.
🏢 Companies and strategic movements
💸 Gemini: launches its IPO 📉 despite incurring losses of over US$280M.
🔗 Tether: hires Bo Hines, former White House advisor 🇺🇸, to strengthen its expansion with regulated stablecoins.
🌐 SoFi: returns to the blockchain world with a real-time remittance service to Mexico 🇲🇽 using Bitcoin ⚡. Additionally, it plans to reopen trading, staking, and loans with crypto as collateral.
📊 Crypto market today
Bitcoin (BTC) drops below US$114K ⬇️ due to expectations of Powell's speech in Jackson Hole and inflation data.
Ethereum (ETH) near US$4K ⚠️.
XRP remains around US$3.
Global capitalization: ~US$3.9T 🌎.
Daily volume: between US$160–180B 💵.
API3 surprises as the big winner of the day 🎉, rising more than 100% after listing on Upbit.
📝 Conclusion
The day leaves us with a mix of regulatory openness and price pressure. While the U.S., United Kingdom, and India are making regulatory moves, companies like Gemini, Tether, and SoFi seek to position themselves in a global market that never rests 🌐.
👉 The big question: are we entering a consolidation phase or on the verge of more volatility? 🤔
