Exchanges: 'Where's My BTC?' 👀

In today’s edition: 🌊 Memecoins flood Crypto.com, 🔺 ZRO defies airdrop slump, 📊 BUIDL crosses half-billion, 💰 Secure Ethereum and win $2M, and more!

Jul 09, 2024

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What’s Poppin’?

by Sage Young, Juan Aranovich and Sam Sriram

BTC on Exchanges at More Than Five-Year Low Amid German Government Selling

While the German government has been transferring large sums of bitcoin to exchanges and market makers, exchanges are holding a multi-year record low of BTC, suggesting that people are self-custodying their assets or using custodial entities.

More Than 15% of Crypto.com’s Token Reserves Stem From Memecoins

According to blockchain analytics firm Nansen, Crypto.com has a total onchain portfolio of nearly $6 billion, with memecoins — including SHIB, PEPE, FLOKI, LADYS, and MOG — making up more than 15% of the exchange’s token reserves held for customers.

LayerZero’s ZRO Token Defies the Trend of Recent Airdrops, Surges 40% Over Weekend

After a sharp sell-off, LayerZero’s ZRO token has climbed significantly, outperforming other recently airdropped tokens. Here’s a potential reason.

BlackRock’s BUIDL Crosses $500 Million in Tokenized Treasuries

BlackRock’s tokenized treasury fund is the first of its kind to reach the $500 million market cap milestone.

Ethereum and Immunefi Launch ‘Attackathon’ With Plans to Raise $2 Million Reward Pool

The crowd-sourced security audit competition will reward security researchers for identifying vulnerabilities in Ethereum’s code.

Daily Bits… ✍️✍️✍️

🗳️ The Republican National Committee's new policy platform includes supporting cryptocurrency innovation and opposing a central bank digital currency.
💼 VanEck and 21Shares are set to launch Solana-based ETFs on the Cboe Exchange, pending SEC approval, following their 19b-4 filings.
⛓️ Paxful co-founder Artur Schaback faces up to five years in prison after pleading guilty to failing to implement an effective anti-money laundering program on the platform.
💥 Crypto bridge Multichain owes the Fantom Foundation $2 million, due to a $125 million exploit last year, following a Singapore court ruling that could lead to the return of stolen assets.
🚨 Former Crypto.com compliance officer Jose Luis Alonso Melchor was charged with money laundering and extortion in Malta after allegedly threatening to expose sensitive company information unless compensated.
📈 Solana DEX Raydium surpassed Uniswap in weekly fees with $12.86 million, driven by millions of low-value spam transactions, despite Uniswap maintaining higher total volume.
⚽ Lionel Messi's Instagram unexpectedly promoted the Solana memecoin WATER, causing its price to surge before quickly correcting, without confirmation from Messi or his team.
💻 ZKM announced the launch of GOAT Network, a Bitcoin layer 2 solution, which has already secured 5,000 BTC in commitments from institutional node operators.
👔 Bitfarms promoted Ben Gagnon to CEO amid a takeover attempt by Riot Platforms, which continues to acquire more of Bitfarms' stock and push for board changes.
⏳ Bitstamp plans to distribute Mt. Gox bitcoin repayments quickly once received, despite having up to 60 days to disburse, as two other exchanges have already begun their distributions.
⚖️ Former Northern Data executives filed a lawsuit accusing the Tether-owned company of securities fraud and tax evasion.

Today in Crypto Adoption...

🇳🇬 Nigeria's National Information and Technology Development Agency plans to develop an indigenous blockchain, nicknamed Nigerium, to enhance data security and transparency.

What Do You Meme?

📈 Your Market Update 📉

BTC is up 0.1%, trading at $57,430
ETH is up 1.1%, trading at $3,083
BTC dominance: 50.96%
Crypto market cap: $2.22T

*All data as of today, 06:33 am ET. Source: CoinGecko

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