Why Is The Crypto Market Down Today?
The total crypto market cap (TOTAL) and Bitcoin (BTC) noted some improvement in comparison to the day before, but closed in the red nonetheless. Story (IP) took the biggest hit among the altcoins as it fell by 12.5%, pulling away from the all-time high.
In the news today:-
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CFTC Chair Caroline Pham proposed allowing stablecoins as collateral in US derivatives markets, potentially lowering retail traders’ entry barriers. The non-binding plan, backed by firms like Coinbase and Ripple, is open for public feedback until October 20.
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FTX Trust has sued Genesis Digital to recover $1.15 billion in allegedly fraudulent transfers. This follows similar legal action against Binance last month, though outcomes…
