SoSo Daily Sept. 25 | SEC Settles Charges Against TrueCoin LLC and TrustToken Inc. for Sale of Stablecoin TrueUSD

Let's turn our attention to today's overall Crypto market situation.
As of 5:58 AM UTC0 time on September 25, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.35 trillion US dollars, witnessing an increase of 0.419% compared to yesterday; the total trading volume is 93.69 billion US dollars, marking an increase of 7.91% from the previous day.

According to sosovalue, the price of $BTC is 64,162 USD, an increase of 1.48% from yesterday. The market cap of $BTC is 1.27 trillion USD, accounting for 53.8% of the total market cap; $BTC's 24-hour trading volume is 28.18 billion USD, making up 30.1% of the total trading volume.
The price of $ETH is 2,623.3 USD, down 0.379% from yesterday; the market cap of $ETH is 315.75 billion USD, representing 13.4% of the total market cap; $ETH's 24-hour trading volume is 15.91 billion USD, comprising 17% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.2% of the total cryptocurrency market cap, and their combined trading volumes constitute 47.1% of the total trading volume.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 05:55 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is GT-Protocol. As of 05:55 today, its market cap is 33.41M, with a coin price of 0.92270 USD, witnessing a 24-hour increase of 56.8%.
The second is Fluence. As of 05:55 today, its market cap is 18.55M, with a coin price of 0.34710 USD, witnessing a 24-hour increase of 48.6%.
The third is Aperture Finance. As of 05:55 today, its market cap is 649.94K, with a coin price of 0.0071500 USD, showing a 24-hour increase of 48%.
In fourth place is BarnBridge. As of 05:55 today, its market cap is 20.90M, its coin price is 2.1520 USD, with a 24-hour rise of 44.4%.
In fifth place is Shark Cat. As of 05:55 today, its market cap is 25.65M, its coin price is 0.025910 USD, increasing by 39.4% over the last 24 hours.


Moving on, let's take a look at the sector performance in the crypto market.
According to sosovalue, out of 16 sectors, 15 are up and 1 is down. Notably, Meme, NFT, and DeFi sectors are worth mentioning.
Meme sector has risen 4.4% relative to the UTC 0 time, led by gains in SC (34.7%), FIGHT (25.2%), and michi (19.7%).
NFT sector has increased 4.27% relative to UTC 0, with boson (18.3%), hello (15.9%), and blur (12.8%) leading the rise.
DeFi sector has risen 3.7%, with APTR (45.9%), CETUS (19.5%), and sca (18.6%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The U.S. Securities and Exchange Commission has settled charges against TrueCoin LLC and TrustToken Inc. for the sale of stablecoin TrueUSD. Both companies agreed to pay penalties and disgorgement for engaging in unregistered offers and sales of investment contracts. The SEC found that TrueCoin and TrustToken falsely marketed the investment opportunity as safe and trustworthy, while a large portion of the assets was invested in a risky offshore fund.
Next news:

According to SoSoValue, as of September 24th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $135.95M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $0.00 , bringing GBTC's total historical net outflow to $20.11B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 2.85M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $419.44M.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $98.89M, with IBIT's total historical net inflow reaching $21.03B.

Following that, Bitwise's ETF BITB had a daily net inflow of $17.41M, with BITB's total historical net inflow reaching $2.08B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $58.67B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.62%. The historical cumulative net inflow has reached $17.83B.

Source: https://sosovalue.com/assets/etf

Next news:Former co-CEO of Alameda Research Caroline Ellison has been sentenced to two years for her role in the collapse of crypto exchange FTX, causing consumers to lose billions of dollars. Ellison pleaded guilty to multiple counts of fraud and money laundering. She will also forfeit about $11 billion. Ellison cooperated with the government and testified against former FTX CEO Sam Bankman-Fried. Bankman-Fried was sentenced to 25 years in prison earlier this year.
Next news:The U.S. Department of Justice has accused Visa of illegally monopolizing the debit card market. The Department has filed an antitrust lawsuit against the payment giant Visa, alleging that it has monopolized debit card payments. U.S. Attorney General Merrick Garland stated that Visa has unlawfully accumulated the power to charge fees that exceed what could be charged in a competitive market. Visa responded that the lawsuit is baseless and will defend itself in court. Visa claims it faces increasingly fierce competition, especially online.
Next news:U.S. spot Ethereum ETFs experienced the largest outflows since late July, with $79.21 million flowing out on Monday. The Grayscale Ethereum Trust (ETHE) saw the largest outflow of $80.55 million, while Bitwise's ETHW reported net inflows of $1.34 million. The total trading volume of these ETFs reached $167.35 million. In contrast, spot bitcoin ETFs recorded net inflows of $4.56 million on Monday.
Next news:Farcaster client Warpcast has launched a new feature called mini apps, which allows users to develop apps for the decentralized social media protocol. Mini apps are similar to the existing Farcaster Frames feature and can be used for various activities such as minting NFTs, building games, and creating polls. The feature is currently supported by Warpcast-specific URLs, but the team may introduce a new Frame button type in the future. The system is also utilizing Neynar, a Farcaster developer platform.
Next news:According to Wu, Coinbase Assets announced that Coinbase will add support for ZKsync (ZK) on the ZKsync network, with trading set to begin on September 25 at 9 AM PT or later. ZKsync is an Ethereum Layer 2 scaling solution launched by Matter Labs.
Next news:America's oldest bank, BNY Mellon, is drawing closer to offering custodial services to exchange-traded fund clients, according to Bloomberg. The progress towards being in a position to offer the services comes after a review enabled the company to avoid treating the assets as a balance-sheet liability. BNY Mellon has publicly expressed interest in being involved in digital assets since at least January 2023, when CEO Robin Vince said on an earnings call that digital assets are the bank's 'longest-term play.'
Next news:Sky (formerly MakerDAO) is reportedly preparing to pause its plan to remove WBTC as collateral, following extensive discussions with BitGo CEO Mike Belshe on the Sky discussion forum. Influential Sky advisor BA Labs had previously expressed concerns about Sun's involvement in the project, and last week, members of the Sky community overwhelmingly voted to initiate a five-step process to remove WBTC as collateral, in line with the advisor's recommendations, starting in early October. However, even after the vote, discussions on the matter continued, with Belshe posting extensively on the forum in recent days, stating that the new custody arrangements had been misunderstood and that Sun would not be able to unilaterally change the structure. On Tuesday, BA Labs indicated that additional details and clarifications had reassured us about the current operation and key management of WBTC. While we still have concerns regarding BitGlobal as a WBTC signer, we find that the situation no longer warrants an immediate removal of collateral and therefore recommend an indefinite suspension of the collateral removal procedure.
Next news:According to the latest regulatory documents, the U.S. SEC has postponed its decision on the Ethereum spot ETF trading applications from BlackRock and Bitwise, with the new deadlines set for November 10 and November 11, respectively. The SEC stated that it needs more time to consider the proposals and has extended the initial 45-day review period. Since Nasdaq submitted the iShares Ethereum Trust ETF rule change on July 22, this review period will end on September 26. Previously, it was reported that the SEC had approved the listing of BlackRock's Bitcoin spot ETF (IBIT) options.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.