The Breakdown The Five Most Important Stories in Crypto Last Week
Sep 28, 2024
Scott Melker, a prominent crypto expert and contributor, dives into the latest buzz in the cryptocurrency world. He discusses Caroline Ellison's sentencing and its implications for the FTX fallout. The duo also highlights Bitcoin's remarkable performance, marking the best September ever, and analyzes how China's economic stimulus is shaping market dynamics. Additionally, they unpack the regulatory challenges facing the crypto sector and the friction between traditional finance and new crypto-native firms. Tune in for a whirlwind of insights!
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September Performance
- Bitcoin had a good September, outperforming historical trends.
- This positive performance could indicate a market shift and potential growth in October and November.
Chinese Stimulus and Bitcoin
- Chinese stimulus efforts are injecting substantial liquidity into the market.
- This combined with other central banks' actions, creates tailwinds for Bitcoin's price, correlating with global liquidity.
SEC Favors Incumbents
- The SEC is approving incumbents like BlackRock for Bitcoin ETFs and custody.
- This favors traditional institutions, making it harder for crypto-native companies.