Plus: Musk vs. Altman – the AI billionaire beef continues
GM. Peeling again in the present day’s information, and it is trying like a messy fruit salad – however don’t fret, we have sorted the juicy bites from the mushy bits.
⚖️ Are the SEC and CFTC altering?
🍋 Information drops: Elon Musk and Sam Altman are beefing once more, crypto dealer escapes kidnappers + extra
🍍 Market taste in the present day
The Worry & Greed Index remains to be hanging out within the impartial zone, whereas
Bitcoin
appears to be getting nearer to $100K.
CryptoQuant analysts observed that long-term Bitcoin buyers have been growing their holdings at a a lot sooner fee in current months.
In previous bull runs, once they went on shopping for sprees, lots of them ended up promoting inside a month – which brought about value pullbacks.
Nonetheless, this time, issues appear to be enjoying out in another way. Even after Bitcoin’s current dip, their urge for food for BTC hasn’t slowed down – matter of reality, they’re shopping for much more.
What does that inform us?
They prolly assume Bitcoin nonetheless has extra room to develop 🚀
And
dealer Jelle thinks
that issues may actually kick off as soon as BTC reclaims $100K.
In the meantime, Michael Saylor’s Technique is busy shopping for the dip. They added one other 7,633 BTC – price $742M – to their stash, which now sits at 478,740 BTC.
And similar to Technique is sticking to Bitcoin, the remainder of the market seems to be doing the identical.
Santiment knowledge reveals
that Bitcoin and main Layer-1s like
Ethereum
,
Solana
, and
Cardano
are taking on 44.2% of all crypto discussions. In the meantime, memecoins like
Dogecoin
and
Shiba Inu
are seeing much less chatter – seemingly due to current value swings all through the market.
Traditionally, memecoins thrive when the market is operating on pure hype, however when issues get extra critical, consideration strikes to initiatives with precise utility. Previous cycles additionally present that memecoin manias usually come earlier than main market pullbacks, whereas stronger initiatives assist preserve stability.
The truth that memecoin hype is cooling suggests we’re in a wholesome consolidation section slightly than an overhyped, overheated market.
Guess we’ll discover out quickly sufficient.
🥝 Memecoin harvest
These tokens are serving charts that appear to be they have been drawn by a caffeinated toddler:
Knowledge as of 06:35 AM EST.
Take a look at these memecoins and lots extra
right here
.
On this US presidential election, many crypto fans have been rooting for Donald Trump like he was their final hope.
That is primarily cuz Biden’s administration handled crypto like your dad treats you if you’re serving to him repair one thing – impatient, even aggressive, and satisfied you make issues worse.
The SEC and the CFTC have been out right here dropping lawsuits like they’re sizzling – every one sued over 100 crypto corporations.
However now, the management at each companies has modified.
So… is crypto lastly catching a break? Is perhaps too early to say, however the indicators are displaying that the crackdown’s easing up:
1/ CFTC
The CFTC simply had their first crypto-related enforcement motion underneath the brand new management, and it is an actual rip-off – not just a few firm that dared to say “crypto” as soon as.
They busted Rashawn Russell, an ex-Deutsche Financial institution funding banker who ran the traditional “100% GUARANTEED RETURNS (NOT CLICKBAIT, NOT A SCAM)” crypto buying and selling scheme.
*Narrator voice* it was, the truth is, a rip-off. He really took individuals’s cash and spent it on private bills, playing, and Ponzi-style payouts.
So, yeah – that is the form of enforcement we prefer to see. Much less nonsense for legit initiatives, and extra complications for precise scammers.
2/ SEC
Over on the SEC, the primary transfer underneath appearing Chair Mark Uyeda was to arrange a Crypto Job Power – a bunch that (watch for it) desires to determine guidelines as a substitute of simply suing every part that strikes.
And it appears like they don’t wanna go all-in on main choices till these guidelines exist.
Living proof: SEC & Binance simply requested to pause their case for 60 days as a result of no matter this activity pressure decides may assist settle issues extra easily.
Sooo… is that this the beginning of crypto’s chill period? We’ll see. However for the primary time in a very long time, it appears like crypto may really get a good shot as a substitute of simply getting sued for present.
Now you are within the know. However take into consideration your folks – they in all probability don’t know. I ponder who may repair that… 😃🫵
Unfold the phrase and be the hero you understand you’re!
🍋 Information drops
🥊 Elon Musk apparently tried to purchase OpenAI for $97.4B – and the corporate’s CEO, Sam Altman, wasn’t having it.
He responded: “No, thanks, however we’ll purchase Twitter for $9.74 billion if you would like.”
⛏ A solo miner struck gold – 3.15 BTC ($300K) for one fortunate block!
💵 Rep. Maxine Waters desires lawmakers to again an previous stablecoin invoice, however Republicans dropped their very own model as a substitute. Their STABLE Act goals for bipartisan help, although Waters says Democrats weren’t included in drafting it.
😳 A UK crypto dealer took a terrifying leap – actually – off a balcony to flee kidnappers in Spain. The three British suspects, who allegedly tried to pressure him into transferring €30K, are actually behind bars.
🔮 Bloomberg analysts James Seyffart and Eric Balchunas have dropped their predictions for 2025 ETF approvals. The estimates appear to be this:
🧃 Sip of knowledge
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