brypto

It’s Sunday which means it’s Crypto weekly 🧵 time with me and @maaria: 

Crypto saw a modest rebound this week, following a broader market rally sparked by the Federal Reserve’s decision to keep interest rates unchanged. The total crypto market cap, along with BTC and ETH, rose by 3%, 2%, and 6% respectively week over week.

Here are my favorite stories:
-The US Treasury Department removed sanctions on cryptocurrency mixer Tornado Cash that were imposed in 2022.

-The total market cap for stablecoins reached over $230 billion, up 56% from the same time last year. USDT and USDC make up almost 90% of the stablecoin market.

-Speaking of USDT, Tether is engaging with a "Big Four" accounting firm to audit its reserves. Tether has gotten its fair share of criticism over the years over the transparency of it's reserves.

i look forward to this weekly roundup each week from @serdave-eth and @maaria (they're substack is linked at bottom of his cast). 2 items that stuck out to me this week:

1. tether finally getting audited by a "Big Four" accounting firm

2. SEC Hester Pierce saying NFTs for fundraising are exempt from securities regs

not a dude. crypto is such a weird and fun place.

Building https://www.keypo.io/. Author of Crypto Daily and Crypto Weekly with @maaria. Join me in DaveDAO (https://warpcast.com/~/channel/davedao)

helping build farcaster | surfing @ venice, ca | eating @ gjusta / gjelina | “lucky me, lucky mud”