After a week off, welcome back to a brand new Trader Top 9! Lots of big news and crypto price action this week, so let's dig in!
9. During the past month, as BTC and ETH rallied, Crypto Twitter has been obsessing over NTFs like Art Blocks, Bored Ape Yacht Club, and of course CryptoPunks. Visa got in on the action, but Joe Weisenthal's not impressed.
8. John Paulson, the man who won big on the subprime housing collapse, but has done nothing for his clients in the decade since, calls crypto "worthless". Sounds like someone who missed the trade of the decade and is jealous.
7. In yet another major move, FTX announced the acquisition of LedgerX on Tuesday, which will allow it to offer derivatives trading in the US.
6. A twitter tip jar will soon be available, pretty cool! Thank you once again, beautiful and generous reader, for subscribing to our FREE newsletter. You can follow us on Twitter @CoveMarkets ;)
5. In what's become a theme in recent weeks, we pivot to regulation. If Gensler can help crack down on fraud, provide regulatory clarity, but leave room for innovation, most US and European operators will be thrilled.
4. Surprise! Well, not really. An obvious 2017 peak ICO ponzi, identified years ago, the SEC decided now was the right time to take action.
3. In what's become a trend, another former regulator departs a leading crypto firm shortly after joining. This follows ex-SEC Brett Redfearn's departure from Coinbase and ex-OCC Brian Brooks' departure from Binance US. These stunning departures don't exactly instill confidence.
2. If you haven't been paying attention, Solana has been on a trip to the moon. You can read more about Solana here. It's super cool!
1. Speaking of trips to the moon, ETH has been on a tear, having doubled in price since late July. And as Bitcoin recently reclaimed $50k, Fidelity suggests it could become worth $1 billion per coin within just 20 years. Cheers to that!