@serdave-eth
It’s Sunday which means it’s Crypto weekly 🧵 time with me and @maaria:
Crypto saw a modest rebound this week, following a broader market rally sparked by the Federal Reserve’s decision to keep interest rates unchanged. The total crypto market cap, along with BTC and ETH, rose by 3%, 2%, and 6% respectively week over week.
Here are my favorite stories:
-The US Treasury Department removed sanctions on cryptocurrency mixer Tornado Cash that were imposed in 2022.
-The total market cap for stablecoins reached over $230 billion, up 56% from the same time last year. USDT and USDC make up almost 90% of the stablecoin market.
-Speaking of USDT, Tether is engaging with a "Big Four" accounting firm to audit its reserves. Tether has gotten its fair share of criticism over the years over the transparency of it's reserves.
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