Crypto Market Update: TVL on L2 Beat, Bitcoin Office in Santa Monica, FTX News & More
The cryptocurrency market remains a dynamic landscape. As of today, the Total Value Locked (TVL) on L2 Beat stands at $8.14 billion, showing no change from yesterday.
Among the top Layer 2 networks:
- Arbitrum's TVL is $2.70 billion, reflecting a slight dip of 0.58% from the previous day.
- Base has seen an increase of 0.63%, bringing its TVL to $1.45 billion.
- Blast's TVL is $862.86 million, with a minor decrease of 0.05%.
- Scroll's TVL is up by 0.92%, reaching $654.11 million.
- Optimism has a TVL of $588.02 million, down by 0.23%.
Bitcoin (BTC) is currently priced at $60,613, showing a slight decrease from yesterday’s $60,724. Ethereum (ETH) has experienced a small increase, now priced at $2,608, up from $2,594 yesterday.
On the fundraising front, no new funding rounds are reported today due to the weekend. However, the cumulative fundraising over the current week stands at $100.09 million.
In regulatory news, the collapsed crypto exchange FTX has been ordered to pay $12.7 billion to creditors. The CFTC has agreed not to seek civil monetary penalties from FTX.
Santa Monica has unveiled a Bitcoin office aimed at boosting the local economy and job creation. The initiative includes plans for a Bitcoin festival by October and aims to foster industry partnerships to support local economic recovery.
In Latin America, Brazil has approved a Solana ETF, and Bolivia is pushing for metal-backed stablecoins. This week's LATAM Crypto Roundup highlights these significant developments.
In Nigeria, a local activist has received support in a legal fight to use crypto, amid the government’s increasingly hostile stance toward cryptocurrencies.
Lastly, a survey by Northwestern Mutual reveals a major expectations gap in the $90 trillion wealth transfer. Millennials and Gen Zers expecting inheritance may face severe disappointment.
