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Summary

The cryptocurrency market has seen various developments in recent days, with Bitcoin rising to $77,000 ahead of the Fed decision. Other major coins, such as XRP, have experienced fluctuations, with XRP falling to $1.38 after breaking below $1.40. Regulatory efforts are also underway, with Canada proposing a ban on crypto ATMs due to rising fraud cases. Additionally, institutional money is expected to flow into Bitcoin, but at a slower pace than anticipated. For more information, visit CoinDesk and CoinTelegraph.

Markets

Bitcoin has experienced a recent rally, largely fueled by strategy purchases, according to Bitwise’s Hougan. However, the rally has faltered due to the weakening AI industry and falling approval odds for the CLARITY Act. Other major coins, such as XRP, have also seen fluctuations, with XRP falling to $1.38 after breaking below $1.40. The Bitcoin Coinbase Premium has turned negative, with weekly losses topping $829M. Paul Tudor Jones has called Bitcoin the “best inflation hedge,” warning of overvalued stocks.

Regulation

Regulatory efforts are underway, with Canada proposing a ban on crypto ATMs due to rising fraud cases. The CFTC has also pulled Wisconsin into a fight over prediction market jurisdiction. A judge has rejected a new trial for former FTX CEO Sam Bankman-Fried. The US government is also taking steps to regulate the crypto industry, with the CLARITY Act aiming to provide clearer guidelines for cryptocurrency regulation.

DeFi

In the DeFi space, RedStone has launched a settlement layer to address the RWA liquidity gap in DeFi lending. This move aims to provide a more efficient and secure way for lenders to interact with the DeFi market. Aptos has also announced a new privacy coin, which seeks to fix one of crypto’s biggest trade-offs by preventing wallet profiling and targeted scams.

Sources: CoinDesk, CoinTelegraph

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