First Mover Americas: Bitcoin Holds $67K, CRV Slides

Jamie Crawley is a CoinDesk news reporter based in London.

The U.S. central bank left rates unchanged on Wednesday and predicted just one reduction this year, which sent bitcoin lower. Following a dip toward $67,000 during the Asian morning, BTC ticked back upward swiftly before trading between $67,200-$67,800. At time of writing, bitcoin is sitting above $67,900, up 0.16% 24 hours ago. The CoinDesk CD 20, meanwhile, is down 0.34% in that time. Ether has fluctuated either side of $3,500, currently 1.1% down in the last 24 hours.

CEO Charles Cascarilla said that the layoffs “allows us to best execute on the massive opportunity ahead in tokenization and stablecoin" and the company is in a"very strong financial position to succeed." Paxos intends to gradually discontinue its settlement services in commodities and securities. Instead, it will concentrate more on asset tokenization and stablecoins, Bloomberg reported.

Data tracked by Lookonchain and Arkham show Egorov’s addresses have taken out a cumulative loan of nearly $100 million worth of stablecoins, mostly crvUSD, against $140 million in CRV collateral. A Debank profile tracking Egorov’s wallet shows he has borrowed from Inverse, UwU Lend, Fraxlend, and Curve’s LlamaLend using CRV tokens as collateral. Total holdings across tracked wallets are down 50% in the past 24 hours.

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