A New Record for Solana 😯
In today’s edition: 📊 BTC and ETH held on exchanges sits at multi-year lows, 🐸 Base memecoin BRETT hits a big milestone, 📈 Ethena’s USDe keeps growing, and more!
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What’s Poppin’?
by Sage Young, Juan Aranovich, and Sam Sriram
455,000 Tokens Launched on Solana in May: Report
Solana saw the highest number of new token launches ever recorded on the blockchain last month, as celebrities joined the cohort of memecoin enthusiasts.
Amount of Bitcoin and Ether on Exchanges Reach Record Multi-Year Lows
The last time exchanges held a comparable record low percentage of the entire bitcoin supply was in Dec. 2017, and for ether, Oct. 2015, the same year Ethereum had its first transaction.
BRETT Becomes First Memecoin on Base to Reach $1 Billion in Market Cap
The memecoin inspired by Matt Furie’s Boys’ club comic has recovered from a local trough after allegations that BRETT’s rollout was dominated by insider activity.
Ethena’s USDe Matches Solana’s Stablecoin Market Cap, Surpassing $3 Billion
USDe’s market cap reached an all-time high, equaling the market cap of all stablecoins on Solana.
Daily Bits… ✍️✍️✍️
⛔ The CFO of Epoch Times was indicted for a $67 million crypto laundering scheme, allegedly using cryptocurrency to buy fraudulently obtained funds.
🏀 Dapper Labs settled the NBA Top Shot Moments lawsuit for $4 million, which alleged the firm violated securities laws by selling digital collectibles.
💰 MicroStrategy's Michael Saylor agreed to a $40 million settlement with the attorney general for the District of Columbia following allegations of evading income taxes while living in the district. Officials say the agreement is the biggest-ever income tax fraud recovery in the district.
🪙 Binance will restrict access to "unauthorized" stablecoins in the EU starting June 30 due to new regulations. Users are urged to switch to regulated stablecoins in a phased approach.
💸 Coinbase donated $25 million to the pro-crypto super PAC Fairshake, aiming to support pro-crypto candidates from both parties to achieve regulatory clarity for cryptocurrencies.
📈 GameStop stock and meme tokens surged as Keith Gill, known for the 2021 GME short squeeze, posted his options positions on Reddit, igniting a speculative frenzy. Gill's bets total over $116 million in shares and $63 million in call options.
Today in Crypto Adoption...
🎻 Galaxy Digital tokenized a 300-year-old Stradivarius violin, valued at $9 million, owned by Animoca Brands co-founder Yat Siu.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 0.3%, trading at $68,894
ETH is down 1.4%, trading at $3,762
BTC dominance: 50.37%
Crypto market cap: $2.69T
*All data as of today, 06:40 am ET. Source: CoinGecko
Recommended Reads
Unchained: What Is SEC 19b-4 Filing and What Does It Mean for Crypto?
Blockworks: What we learned from the latest ETH ETF filing dump
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