The Financial Stability Oversight Council’s first major report on cryptocurrencies has warned that cryptocurrency markets need more oversight, as the widespread adoption of digital assets poses risks if the market grows without it.

Decentralized cryptocurrency exchanges have been growing faster than centralized exchanges over the past two years, according to a research report published by Citigroup.

Leading stablecoin issuer Tether has nearly slashed all of its commercial paper holdings, and now has less than $50 million worth of the short-term, unsecured debt instrument.

Sponsored: Acquire.Fi has launched its native token ($ACQ) on the 28th of September 2022. Trading was scheduled to go live on the KuCoin centralized exchange at 15:00 pm UTC, with KuCoin adding support to the ACQ/USDC trading pair. Five minutes later, the token was listed on the Uniswap decentralized exchange.

Top stories in the Crypto Roundup today:

• Crypto Market Needs Better Oversight, US Risk Watchdog Warns
• Decentralized Exchanges Are Gaining Market Share: Citi
• Tether’s Commercial Paper Exposure Drops Below $50 Million
• 95.9% of Ethereum Call Options Expired Worthless in September
• Sponsored: Announcing the Acquire.Fi (ACQ) Token and Closed Platform Beta Launch!

Crypto Market Needs Better Oversight, US Risk Watchdog Warns

The Financial Stability Oversight Council’s first major report on cryptocurrencies has warned that cryptocurrency markets need more oversight, as the widespread adoption of digital assets poses risks if the market grows without it.

The report notes that the scale of digital asset activities has increased over recent years, and that although “interconnections with the traditional financial system are currently relatively limited, they could potentially increase rapidly.”

A panel of experts has emphasized that existing laws already cover many of the activities in crypto markets, and urged agencies, including the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), to prioritize crypto enforcement. It recommended that Congress provide more resources to police the crypto market.

The Financial Stability Oversight Council is led by the Treasury Department and was created after the 2008 financial crisis to find and mitigate threats to the financial system.

Decentralized Exchanges Are Gaining Market Share: Citi

Decentralized cryptocurrency exchanges have been growing faster than centralized exchanges over the past two years, according to a research report published by Citigroup.

The gap is likely to widen as users move away from centralized platforms to avoid cumbersome know-your-customer checks. Decentralized exchanges rely on automated algorithms to act as an intermediary between buyers and sellers.

These exchanges offer distributed revenue, like dividends, to liquidity providers and often to token holders, while allowing users to self-custody their funds. Once these trading rewards are accounted for, decentralized exchanges have lower fees than centralized platforms.

Citi noted that a potential driver for decentralized exchange volumes in the near future is an increase in regulation, as heavier reporting requirements could move users away from centralized platforms.

Decentralized exchanges, Citi says, are responsible for 18.2% of spot trading volumes, with Uniswap having a 70% market share across all decentralized exchanges.

Tether’s Commercial Paper Exposure Drops Below $50 Million

Leading stablecoin issuer Tether has nearly slashed all of its commercial paper holdings, and now has less than $50 million worth of the short-term, unsecured debt instrument.

Tether’s chief technology officer, Paolo Ardoino, announced on social media that Tether’s exposure to U.S. Treasury bills has increased to 58.1% of its total reserves, up 25.1% from its June 30 figure of 43.5%.

While commercial paper is a form of short-term unsecured debt, Treasury bills are seen as a more stable and safe type of investment. In June, Tether set out to decrease its commercial paper holdings to zero.

95.9% of Ethereum Call Options Expired Worthless in September

 

Last month, a total of 746,000 Ethereum options contracts were traded across Binance, Deribit, and OKX, with expiry on September 30^th. Strike prices ranged between $600 and $2,300, and roughly the same number of calls and puts were traded.

Options trading consists of puts and calls. For puts, you're in the money if the strike is greater than the underlying. For calls, you're in the money if the strike is smaller than the underlying.

95.9% of all traded call options were those with strike prices above $1,350, and thus expired worthless - this means that many traders incorrectly speculated that the price of ETH would increase to this level before their contract expired. On the other hand, 69.9% of put options traded had a strike price of $1,350 or lower and expired worthless.

Announcing the Acquire.Fi (ACQ) Token and Closed Platform Beta Launch!

Acquire.Fi has launched its native token ($ACQ) on the 28th of September 2022. Trading was scheduled to go live on the KuCoin centralized exchange at 15:00 pm UTC, with KuCoin adding support to the ACQ/USDC trading pair. Five minutes later, the token was listed on the Uniswap decentralized exchange.

Following the token listing, Acquire.Fi is also paving the way for the launch of its Closed Platform Beta a few days later. Within this platform, investors will be able to lock their $ACQ for access to exclusive investment pools, crypto mergers and acquisitions (M&A) deal flow, liquidity mining rewards, and other unique benefits.

The Token Generation Event (TGE) and Closed Platform Beta launch provide an opportunity for investors to engage in the world’s first Web3 M&A marketplace. By doing so, users will participate in the crypto economy and have access to fractionalized shares crypto companies, traditional businesses, and real-world assets, all without leaving the blockchain. 

$ACQ Tokenomics and Closed Platform Beta Functionalities

$ACQ is launching on the Ethereum mainnet as an ERC20 token. It will have a maximum supply of 300,000,000 tokens and an market cap of $90,000 on decentralized exchanges plus $300,000 of liquidity on KuCoin.

The Closed Platform Beta is estimated to be released on the first days of October to a few selected early stage investors. Only after this testing period is over will the platform be launched to the public.

In parallel, a decentralized liquidity farming protocol for $ACQ will be launched shortly after the platform goes live.

Besides staking and liquidity farming, users can also use the platform to view their dashboard, search for M&A listings, engage with investment pools and directly contact sellers.

About Acquire.Fi

Acquire.Fi is where Investing and Web3 intersect, creating a new wealth-building paradigm for all. Home to exclusive crypto, blockchain, NFT, and Web3 M&A deal flow while ushering in a new inclusive era of wealth creation through acquisitions using blockchain and digital assets.

Learn more by visiting the official website and socials (Telegram, Twitter, Discord)

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