Here is what happened yesterday in the crypto market:
SEC Commissioner Hester Peirce Leads Crypto Task Force
SEC Commissioner Hester Peirce, a known advocate for the crypto industry, has been appointed to lead the regulator’s new crypto task force. This move signals a potentially more understanding approach from the SEC towards crypto regulation.
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21Shares to Liquidate Bitcoin and Ether Futures ETFs
21Shares is set to liquidate two actively managed ETFs linked to Bitcoin and Ether futures due to the current market downturn. This indicates challenges in the crypto ETF market amid volatility.
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Kaito AI and Founder Hacked on X
Kaito AI, a crypto data analysis platform, and its founder Yu Hu experienced a hack on their X accounts. This highlights ongoing security risks within the crypto space, even for established entities.
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Stablecoin Supply Suggests Mid-Bull Cycle
Despite the recent market correction, the increasing stablecoin supply suggests the crypto market is in the middle of a bull cycle, potentially signaling further investment inflows.
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Bitcoin Needs to Hold $81K to Avoid Downside Risk
Bitcoin needs to maintain a weekly close above $81,000 to mitigate potential downside volatility, particularly ahead of the upcoming Federal Open Market Committee (FOMC) meeting.
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