Bitcoin Resists Sell-Off to Near $23K After Musk Considers More Buys; altcoins retreat up to 11%
Bitcoin’s retreat began late yesterday afternoon, shortly after the release of Tesla’s balance sheet, but appears to have been contained amid Musk’s speech during an investor conference.
On the occasion, the CEO of the electric car maker stated that he does not rule out the possibility of acquiring Bitcoin again in the future, and noted that the sale in the second quarter “should not be taken as a verdict on Bitcoin”.
“We were concerned about the company’s overall liquidity due to the Covid shutdowns in China,” said the billionaire, noting that, given the scenario, he identified the need to increase the company’s dollar reserves.
By selling BTC before the end of the quarter, Tesla also avoided recording a $460 million accounting loss from the depreciation of Bitcoin against its acquisition price. The company sold 75% of the position at an average price of around US$29,000 and pocketed US$936 million.
| cryptocurrency | Price | Change in the last 24 hours |
| Bitcoin (BTC) | US$ 22,967.89 | -2.5% |
| Ethereum (ETH) | US$ 1,509.28 | -2.8% |
| Binance Coin (BNB) | US$ 257.19 | -3.8% |
| XRP (XRP) | US$ 0.357880 | -4.5% |
| Cardano (ADA) | US$ 0.491640 | -7% |
Cryptocurrencies with the biggest gains in the last 24 hours:
| cryptocurrency | Price | Change in the last 24 hours |
| Monero (XMR) | US$ 152.17 | +5.4% |
| Chain (XCN) | US$ 0.093895 | +5.1% |
| THORChain (RUNE) | $2.78 | +1.8% |
Cryptocurrencies with the biggest drops in the last 24 hours:
| cryptocurrency | Price | Change in the last 24 hours |
| Read DAO (LDO) | $1.52 | -11.2% |
| Waves (WAVES) | $5.59 | -10.1% |
| Fantom (FTM) | US$ 0.309319 | -9.6% |
| Internet Computer (ICP) | $6.73 | -9.1% |
| The Graph (GRT) | US$ 0.104778 | -9.1% |
Check out how cryptocurrency ETFs closed in the last trading session:
| ETF | Price | Variation |
| Hashdex NCI (HASH11) | BRL 21.71 | -1.67% |
| Hashdex BTCN (BITH11) | BRL 30.69 | +1.12% |
| Hashdex Ethereum (ETHE11) | BRL 24.97 | -1.13% |
| Hashdex DeFi (DEFI11) | BRL 25.19 | -1.12% |
| Hashdex Smart Contract Platform FI (WEB311) | BRL 22.75 | +1.42% |
| QR Bitcoin (QBTC11) | BRL 8.10 | +1.5% |
| QR Ether (QETH11) | BRL 6.00 | -0.33% |
| QR DeFi (QDFI11) | BRL 4.41 | -7.74% |
| Crypto20 EMPCI (CRPT11) | BRL 6.00 | -0.66% |
| Invest NFTSCI (NFTS11) | BRL 33.00 | -1.1% |
See the main news from the crypto market this Thursday (21):
Stablecoin Issuers Will Be Regulated Like US Banks
Companies that issue stablecoins will be regulated as banks and must back the tokens with conservative assets, according to a source familiar with legislation on the topic discussed in the Financial Services Committee of the US House of Representatives.
Lawmakers leading the talks have tentatively agreed that stablecoins should be bolstered directly with assets such as dollars and U.S. Treasuries, which are not “vulnerable in times of panic,” the source told CoinDesk.
Also according to the person, companies that issue stablecoins must also guarantee capital and liquidity, as well as open themselves up to regulatory oversight.
SkyBridge plans new fund focused on Web 3.0
SkyBridge Capital, owned by investor Anthony Scaramucci, is planning a fund dedicated to investing in Web 3 and cryptocurrencies, according to Business Insider sources.
CoinDesk reached out to SkyBridge Capital, but a representative declined to comment.
Scaramucci – who was former President Donald Trump’s chief communications officer for 11 days – will launch the venture capital and growth fund to invest in Web 3 fintech companies as well as late-stage crypto companies.
According to Business Insider, an official announcement is expected on September 12 at SkyBridge’s annual Salt conference.
Crypto platform Vauld asks for bankruptcy protection
Crypto lending platform Vauld, which has recently blocked withdrawals, has filed for protection against creditors in Singapore – the law resembles bankruptcy in Brazil.
The company, which counts Peter Thiel, Pantera Capital and Coinbase Ventures among its investors, owes its creditors $402 million, with 90% of that debt originating from individual deposits from retail investors.
Vauld is the third to legally recognize its own insolvency amid the crisis in the crypto sector. before, the hedge fund Three Arrows Capital and Voyager exchange have filed for bankruptcy in the United States.
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