Top 5 crypto market recaps of the week (25-30 Sept 2023): Government Shutdowns, SEC Approvals, and Crypto Controversies

1. Basic inflation continues to cool down; the US government will shut down by Sunday noon if no agreement is reached.
The potential shutdown of the US government can have significant economic and political implications.

2. 9 Ethereum Futures ETF applications could be approved by the SEC for listing from October 2nd.
Approval of Ethereum Futures ETFs by the SEC indicates a significant step towards mainstream acceptance of cryptocurrency.

3. Circle opposes the SEC in the Binance lawsuit: “Stablecoins cannot be considered securities as buyers do not expect profits.”
The classification of stablecoins has been a topic of debate, and this lawsuit can set a precedent for future regulations.

4. 3AC founder arrested, sentenced to 4 months in Singapore; Co-founder Kyle Davies also sentenced but has gone into hiding.
Arrests and legal actions involving prominent figures in the crypto industry can influence market sentiments.

5. PayPal submits 4 blockchain initiative registrations in layer 2, NFT, and metaverse areas.
PayPal’s venture into blockchain and related technologies indicates the growing importance of these areas in the financial sector.

1 Like