Bitcoin Wrapped in Drama
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Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.
- 📢 Schumer Calls for Regulatory Action at Crypto4Harris Town Hall. Senate Majority Leader Chuck Schumer was among the loudest Democrats calling for clearer regulatory action for crypto.
- 🇮🇳 Binance Relaunches in India After Paying Fine. Binance resumes operations after paying a $2.25M fine to India's FIU.
- 📈 SEC Approves Leveraged MicroStrategy ETF. MSTX seeks to deliver 175% of MSTR’s daily returns to investors by utilizing leverage.
📸 Daily Market Snapshot: Crypto markets ignored macro bullishness Thursday, selling off over 4% while macro indices posted gains. With Harris now up 10 points in Polymarket's election odds, Trump and his pro-crypto promises have firmly moved toward underdog territory.
| Prices as of 5pm ET | 24hr | 7d |
|
Crypto $2.00T | ↘4.2% | ↘4.3% |
|
BTC $57,040 | ↘3.5% | ↘4.3% |
|
ETH $2,546 | ↘4.9% | ↘1.2% |
|
ZK $0.105 | ↘5.9% | ↘7.4% |
Wrapped Bitcoin (WBTC) is simply a token on the Ethereum blockchain that is pegged to BTC.
But there's nothing straightforward about the controversy that's been ignited this week as impending changes to the custody and minting model of WBTC have thrown the DeFi world into a ruckus.
Let's unpack the drama that involves $9B in assets, Justin Sun, and Coinbase 👇
Mantle kickstarts Season 1 of Methamorphosis. Building on the success of their Liquid Staking Token, mETH, Mantle LSP announces plans for a new Liquid Restaking Token, cmETH, along with a governance token, COOK. With Methamorphosis, participants can now farm Powder for future COOK tokens and position themselves early for upcoming cmETH release.
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