🎙️ SBF's Hail Mary? 😯
In today's edition: ⚠️ Technical glitch affects Binance, 💸 FTX and Alameda move $10M, 📈 Crypto stocks soar, 🚀 Polygon launches POL token on Ethereum, and more!
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📚 The Cryptopians - Out in Paperback!
Find out the inside story of the rise of Ethereum in Laura’s book, “The Cryptopians.”
The Chopping Block: Are We Back? The 'Low IQ' Response to the Potential Spot Bitcoin ETF
This week, Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner discuss Bitcoin’s price surge over the past week amid growing optimism that a spot BTC exchange traded fund would win regulatory approval, an erroneous Wall Street Journal story about crypto funding to the terrorist group Hamas and AI, and crypto illiteracy among leading U.S. lawmakers.
What’s Poppin’?
by Sam Sriram, Brandy Betz, and Juan Aranovich
Sam Bankman-Fried Will Testify in His Criminal Trial: Reports
The former FTX CEO will take the stand in his own defense. He faces multiple fraud and conspiracy charges.
Binance Experiences Temporary Issue Affecting Crypto Withdrawals
Binance, the world’s largest cryptocurrency exchange, briefly suspended crypto withdrawals due to a technical issue.
FTX and Alameda Wallets Transfer $10 Million in Crypto to Binance, Coinbase
Blockchain wallets tied to the bankrupt crypto exchange and trading firm sent a large quantity of cryptocurrencies to exchanges.
Crypto Stocks Rallying After Bitcoin Surges
MicroStrategy and bitcoin miners have been the largest gainers this week.
Polygon Deploys POL Token Contract on Ethereum
Polygon Labs intends for the next-generation POL token to replace its existing native token MATIC and power an ecosystem of ZK-based Layer 2 chains.
Daily Bits…✍️✍️✍️
🔒 Elliptic claimed that the scale of crypto-based terrorism funding is misrepresented, countering earlier reports that suggested Hamas raised millions in crypto. Meanwhile, 🏛️ Senator Elizabeth Warren gained support in the U.S. House for her efforts to regulate crypto in the context of financing terrorism.
🏦 JPMorgan's JPM Coin reportedly processes $1 billion daily for large companies, a fraction of the bank's $10 trillion daily transactions through traditional platforms.
💰 Bitcoin's recent volatility has led to over $147 million in liquidations, affecting both long and short positions.
📰 SEC's Gensler criticized the crypto industry for fraud and scams in a recent speech.
🗳️ Rep. Mike Johnson became new Speaker of the House, after a failed attempt from crypto-friendly Rep. Tom Emmer.
Today in Crypto Adoption...
💳 Mastercard partnered with MoonPay to integrate Web3 technologies and enhance consumer loyalty.
🤝 Circle collaborated with Taiwan's BitoGroup and FamilyMart to offer a "points-to-crypto" service, enabling the conversion of FamilyMart loyalty points into cryptocurrencies like USDC.
The $$$ Corner…
🎮 Crypto video game Shrapnel secured $20 million in funding.
🩺 Web3 healthcare platform Rymedi closed $9 million in a Series A funding.
🌐 Nocturne Labs, aiming to bring private accounts to the Ethereum ecosystem, garnered $6 million in seed funding led by Vitalik Buterin, Bain Capital Crypto and Polychain Capital, among others. (Learn more about Nocturne here).
💰 Hong Kong-based Anboto Labs raised $3 million in funding and launched an institutional-grade non-custodial trading platform.
What Do You Meme?
Recommended Reads
The Periphery by Arthur Hayes
📈 Your Market Update 📉
BTC is up .03%, trading at $34,252
ETH is up 2.7%, trading at $1,830
BTC dominance: 51.13%
Crypto market cap: $1.31T
*All data as of today, 7:00 am ET
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