The Fed raised rates for the first time in 3 years, and crypto news became macro news. Macro went from 7.8% of crypto coverage in August to 20.6% last week. Regulatory roughly doubled in the same week the Senate's cloture vote on the CLARITY Act failed. Something had to give. SEC filings fell from 14.8% to 5.6%, prediction markets from 2.8% to 1.6%.
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