ArkotNews

Longer-term narratives matter, argues Noelle Acheson, but they don’t set the price. That is set by short-term sentiment, which is both contagious and fickle.

ALSO: Asia-Based Traders Push Bitcoin Past $30K

ALSO: In his latest Money Reimagined column, CoinDesk Chief Content Officer Michael Casey ties the recent political and regulatory backlash toward the crypto industry to the alleged misdeeds of disgraced FTX CEO Sam Bankman-Fried. Will the current climate drive digital-asset innovation and leadership away from the U.S.?

MonkeDAO, a decentralized autonomous organization formed by owners of the Solana Monkey Business NFT project, will purchase all intellectual property rights to the collection from its current owner HadesDAO.

The firm started its fund as more crypto projects seek non-U.S. jurisdictions.

The market cap has increased by 20% this year mainly on account of aggressive issuance on Ethereum's rival, Tron.

The new stablecoin-like token, OMMF, will be backed by conventional money market funds and is available only to qualified purchasers and accredited investors. But retail investors can lend against the tokens via Ondo’s DeFi protocol Flux to indirectly access the yield.

The high court's "major questions doctrine" could be used to limit the regulator's actions against crypto, said Jason Gottlieb, a partner at Morrison Cohen LLP.

It would ban a future terraUSD, at least temporarily, and create licensing rules for fiat-backed stablecoin issuers.

Liquid staking tokens also rise on Wednesday. Bitcoin holds steady above $28,000.