SOTM October 10 – October 16, 2024

Welcome to our 193rd issue of State of the Market, where we provide an overview of crypto market activity from October 10 – October 16, 2024. 

This week in crypto markets:

• Stripe reintroduced cryptocurrency support with a new stablecoin payment option, adopted across 70 countries on its first day.
• TD Bank faced a $3 billion penalty for failing to report $1 billion in suspicious cryptocurrency transactions, highlighting regulatory challenges in the sector.
• The UAE granted in-principle approval for AE Coin, a regulated stablecoin pegged to the Dirham, aligning with their Digital Government Strategy 2025.
• Kraken introduced ETH restaking through EigenLayer, reflecting the growth in liquid restaking tokens’ total value locked increasing over 3000% this year.

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