FTX Seeks $744M Asset Sale, XRP Surges 11% as Top Gainer, UK and EU Finalize Crypto Regulations, Yields Signal Rate Cuts Ahead
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FTX wants to sell Grayscale and Bitwise trust assets worth $744M to help pay creditors and take advantage of opportune market timing.
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XRP spiked over 11% to become the top performing major crypto, overtaking BNB as 4th largest by market cap, with over $2B in trading volume.
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The Bank of England will regulate systemic stablecoins, while the FCA oversees the broader crypto sector, following U.K. government proposals.
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Big Tech and Terraform Labs' stablecoin efforts have driven related regulation worldwide, with the EU and Japan finalizing regimes.
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The 1-year Treasury yield hit a 3.5 month low, signaling a bearish reversal as markets anticipate rate cuts in 9-12 months, driving bonds and equities higher.