With bitcoin’s silver lining and Ribbit’s $350 million “Blank Check,” CoinDesk’s Markets Daily is back for your latest crypto news roundup!

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today’s stories:

Bitcoin Drop Squeezes Out Weak Derivatives Positions – And That May Be a Good Thing

Bitcoin’s latest price drop may have a silver lining.

Crypto and Fintech VC Ribbit Capital Seeks $350M in ‘Blank Check’ IPO

While it’s unclear how much Ribbit Leap will focus on crypto or blockchain acquisitions, it comes at a time of renewed exuberance in the sector.

FTX Exchange’s $150M Deal for Mobile-First Blockfolio Is a Retail Trading Play

The deal is a strategic play for FTX, whose clientele consists largely of quants and professional traders, to attract more retail customers.

Brazilian Lawmaker Proposes Crypto Regulations for a Country Devoid of Any

Brazil’s crypto scene has been unbanked, unregulated and awash in legal uncertain for its entire history.