The Last Fortnight in Crypto - September (Part 2)
LATEST NEWS
Stocks Have Worst Day Since 2020 as CPI Triggers Meltdown
A widespread sell-off in traditional markets has dragged down crypto markets amid higher-than-expected CPI. As of Friday morning AEST, BTC moved +2.6% while ETH is -8% over the last 7 days.
The S&P 500, Gold, Bitcoin and EURUSD after the CPI Print: pic.twitter.com/V8MbF74sSa
— TradingView (@tradingview) September 13, 2022
The Merge went down a success, with no hiccups in a very smooth transition. Ethereum enters a new phase where the network is secured by proof of stake (PoS) instead of proof of work (PoW). It's a significant deal for the Ethereum community following years of research and development. The Merge profoundly reduces Ethereum's environmental impact and its issuance—setting the stage for future upgrades to fix Ethereum's scalability problems.
The Merge triggered at 2:43 AM ET today.
— Blockworks (@Blockworks_) September 15, 2022
It is one of the most difficult engineering problems ever undertaken in the blockchain space. https://t.co/UJHIeBlvKw
White House Releases Framework on Crypto Regulation
The Biden administration released a framework crypto regulation in the US following a March executive order to provide greater guidelines. The “Comprehensive Framework” doesn’t provide any new legislation, instead promising further coordination efforts and reports into DeFi and NFTs in 2023. Many industry advocates believe the "framework" is a missed opportunity for greater clarity.
Our statement on today’s reports and summaries from the Biden administration’s executive order on digital assets:https://t.co/UQJfNQQ3CN
— Blockchain Association (@BlockchainAssn) September 16, 2022
More analysis to come. pic.twitter.com/zOBO3RrA3b
Nasdaq Reportedly to Enter Crypto Custody Market
Nasdaq is the second-largest stock exchange in the United States. If approved by the NYDFS, Nasdaq will become a custodian of digital assets focusing on institutional investors.
Emerging Markets Lead 2022 Global Crypto Adoption Index
Chainalysis’ 2022 Global Crypto Adoption Index showed penetration in adoption remained strong in emerging economies, with the top 10 primarily compromising lower-middle-income countries. Global adoption declined from the significant 880% jump in the 2021 report.
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