Daily Market Wrap | Sep. 22

Hot Topics

• Ether and Dogecoin led a $1.5B crypto liquidation wipeout affecting 407,000 traders, as Bitcoin fell below $112K amid macro uncertainty.
• GENIUS Act boosts stablecoin adoption, with 54% of firms planning use within a year, eyeing $2.1T-$4.2T in cross-border payments by 2030.
• Valour's bitcoin staking ETP, offering 1.4% yield, launches on LSE for professional investors, with retail access from Oct. 8.
• White House eyes new CFTC chair candidates with crypto expertise as Quintenz's confirmation faces delays.

Market Updates

• Solana's Yakovenko warns Bitcoin needs quantum-resistant upgrade by 2030, but experts like Adam Back downplay near-term threat.
• FTX will distribute $1.6B to creditors starting Sept. 30, leveraging $15B in recovered assets for its third bankruptcy payout.