OVERVIEW

CPI Drop-Kicks Crypto, Then Lets It Catch Its Breath—For Now

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

Most bullish/bearish symbols on Stocktwits at the close: 📈 $UNI, $INJ, $XMR, $BIT, $ADA, 📉 $WIF, $FLOKI, $OP, $RENDER, and $AVAX

*If you’re a business and want to access this data via our API, email us.

News In Three Sentences
Crypto News 🪙

🚫 North Carolina Says No to CBDCs, Governor’s Veto Overridden 

North Carolina lawmakers have blocked CBDCs from the state, overriding Governor Cooper’s veto. The General Assembly made it clear: no CBDCs for payments, no CBDCs for testing. While the Fed toys with digital dollars, North Carolina’s already made up its mind. Bankless.

⚖️ UK Wants to Call Your Bitcoin ‘Personal Property’ 

The UK just dropped a bill that would classify crypto and NFTs as personal property, which means $BTC is basically your new sofa—just legally speaking. This should make it harder for scammers to mess with your digital stash and give judges clearer guidelines on crypto cases. The UK clearly wants to get the jump on the global crypto race—maybe they got tired of playing second fiddle to the U.S.? Decrypt.

🖼️ Digital Chamber Takes on SEC Over NFT Classification 

After the SEC came for OpenSea with a Wells notice, the Digital Chamber is pushing Congress to keep NFTs out of the SEC’s reach. The Chamber claims NFTs are collectibles, not securities, and shouldn’t be regulated like financial products. They’re calling for clearer laws before the SEC gets too carried away with its enforcement. Cointelegraph.

⚖️ Caroline Ellison Set for Sentencing on Sept. 24 

Caroline Ellison, ex-Alameda Research CEO and star witness against Sam Bankman-Fried, is facing her sentencing on Sept. 24. She’s admitted to fraud at SBF’s direction, leading to his 25-year sentence. Now, Ellison will find out how her cooperation with prosecutors will affect her own punishment. CoinDesk.

🪙 Ethereum Stablecoin Volume Hits All-Time High Near $1.5 Trillion 

Ethereum’s ($ETH) on-chain stablecoin volume just hit a new high of $1.46 trillion, with $DAI leading the charge at $960 billion. PayPal’s $PYUSD made a huge leap from $500 million to $2.4 billion. Stablecoins are keeping DeFi ecosystems alive and kicking through all this market uncertainty. TheBlock.

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