In today’s briefing:
- The End of BUSD
The End of BUSD
- Price Movements: cbETH, Coinbase’s liquid staking derivative, started trading at a discount after news broke that the SEC had fined Kraken $30mn.
- Market Liquidity: LocalBitcoins shut down after 10 years of service after competition and a prolonged bear market sapped trade volume.
- Derivatives: ETH options markets look bullish but more volatile than BTC.
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