Strive buys $169M as leveraged crypto trading expands
Key Summary
Strive, a crypto trading firm, has made a $169 million investment in bitcoin and ethereum, expanding its leveraged trading offerings. The Securities and Exchange Commission has approved the first 3X leveraged bitcoin and ethereum funds, and the Commodity Futures Trading Commission has proposed a framework for retail crypto trading. This move is seen as a significant development in the crypto market, with implications for price volatility and market dynamics.
Scott Melker breaks down Strive’s (ASST) purchase of 2,000 bitcoin (BTC-USD) for roughly $169 million, the Securities and Exchange Commission’s approval of the first 3X leveraged bitcoin and ethereum (ETH-USD) funds, and the CFTC’s new proposal outlining a framework for leveraged retail crypto trading. "The Daily Wolf with Scott Melker" airs every day at 12:00 p.m. Tune in for your daily dose of all things crypto.