🔔 News from the past week


💎 Cryptocurrency

🟢 Banks PNC Financial Services and Bank Of Montreal bought Bitcoin ETFs for $10 million and $6.7 million

🟢 American hedge fund Bracebridge Capital invested $363 million in Bitcoin ETF

🟢 25% of the Bybit crypto exchange traffic comes from users from the Russian Federation

🟢 El Salvador launched a website for monitoring government balances in Bitcoin. Now there are already 5,748 BTC and every day they buy 1 BTC

🟢 Chinese police arrested 6 people who helped conduct transactions between China and South Korea using cryptocurrencies


💼 Financial news

🟢 The US will increase significantly this week duties on Chinese goods, on electric cars can be raised to 102.5%

🟢 China will sell bonds worth $138 billion to stimulate the economy


🔄 Regulation

🟢 Tether CEO Paolo Ardoino said that the company is cooperating with regulators and fulfilling all requirements


⚙️ Technologies

🟢 OpenAI has released a new GPT-4 AI model with improved work with text, video and audio


#weeklynews

How does the Fed's monetary policy affect cryptocurrencies❔

➡️Fed's monetary policy impacts cryptocurrencies more than commonly believed. Despite the notion that the crypto market operates independently from traditional finance, the influx of cheap money from the Fed, both through direct and shadow quantitative easing (QE), fuels speculation across various trading platforms, including cryptocurrencies.

📌Let's examine the so-called liquidity chart, which encompasses the Fed's balances, reverse repo operations, and the U.S. Treasury's operational account.

🔶The red line represents liquidity or the amount of money injected/withdrawn by the Fed. The yellow line represents the S&P 500 index. The blue line represents the price of Bitcoin.

✔️Since the beginning of 2020, when the Federal Reserve initiated QE, a clear correlation has emerged among these charts. Nearly every injection or withdrawal of liquidity has had an impact on both the index of major traditional companies and the leading cryptocurrency. The commencement of quantitative tightening (QT) and the withdrawal of money from the markets also affected the prices of traded assets.

Despite Bitcoin's genesis as an alternative to the "broken" financial system, the growth of the crypto market has attracted players from the old system, operating under the same rules and objectives, hence the correlation.

#Guides

🌐 Wisconsin State Investment Board disclosed $163 million investment in ETFs 🌐

💰According to the filing submitted to the SEC, the Wisconsin State Investment Board (SWIB) held shares of spot Bitcoin ETFs totaling $163 million as of the end of March.

The assets in the portfolio structure include:

➡️2,450,400 shares of IBIT from BlackRock valued at $99.1 million
➡️1,013,000 shares of GBTC from Grayscale ($63.7 million)
➡️Securities of various cryptocurrency firms, including Coinbase, Marathon Digital, Riot Platforms, Block, Cipher Mining, CleanSpark, and MicroStrategy.

Established in 1951, the organization manages investments for public pension and other trust funds.

📈Bloomberg analyst Eric Balchunas wrote in X that SWIB's interest in the new asset class manifested earlier than expected. In his opinion, this is a good sign, as "institutions typically move in herds."


#infopost

🔔 News from the past week


💎 Cryptocurrency

🟢 937 institutions invested in Bitcoin ETF $11.06 billion in the first quarter of 2024

🟢 Bloomberg: The chances of Ethereum spot ETF adoption in the US are practically zero

🟢 Tether announced a partnership with Toncoin to develop an end-to-end solution for crypto payments

🟢 Wisconsin Investment Board owns $99 million Bitcoin ETF

🟢 Hedge fund Millennium Management invested 3% of funds or $1.94 billion in spot Bitcoin ETFs

🟢 25% of the Bybit crypto exchange traffic comes from users from the Russian Federation

🟢 Binance introduced a tool to protect against fraudulent spam transactions


💼 Financial news

🟢 Inflation in the US decreased in April by 0.1% to 3.4%

🟢 China will sell bonds for $138 billion to stimulate the economy and will buy back $42 billion worth of unsold homes

🟢 Vanguard will become the new CEO of the top 2 investment company in the world Samil Ramji, who launched a Bitcoin ETF at BlackRock

🟢 Warren Buffett secretly bought shares of the insurance company Chubb for three quarters in a row for $6.72 billion


🔄 Regulation

🟢 The Venezuelan authorities decided to ban cryptocurrency mining to protect the country’s energy system

🟢 Tether CEO Paolo Ardoino said that the company is cooperating with regulators and fulfilling all requirements

🟢 The developer of the cryptomixer Tornado Cash, Alexey Pertsev, was put on 5 years for money laundering

🟢 Chinese authorities closed an illegal exchanger with a turnover of $1.9 billion, which was engaged in withdrawing funds abroad using USDT

🟢 The US Senate voted to repeal the SEC rule on accounting for crypto assets on company balance sheets


⚙️ Technologies

🟢 OpenAI has released a new GPT-4 AI model with improved work with text, video and audio

🟢 Elon Musk's Neuralink company is looking for a second volunteer to implant a chip in the brain

🟢 Bloomberg: Hacked cryptocurrency hedge fund BlockTower Capital with assets $1.7 billion, extent of damage unknown

🟢 Crypto trader lost $1.26 million after clicking on a phishing link

🟢 DeFi Alex Labs on the Bitcoin network was hacked for $4.3 million

🟢 DeFi Sonne Finance hacked for $20 million


#weeklynews

🍕 May 22 — Bitcoin Pizza Day

On this day in 2010, programmer Laszlo Hanyecz bought two pizzas for 10,000 BTC. This purchase with virtual currency became the first in the real world.

🔥At today's exchange rate, the price of that pizza is approximately $700 million.

™ Laszlo Hanyecz went down in crypto history as "the man who lost millions because of pizza," but his sacrifice helped kickstart the global acceptance of cryptocurrency.

Happy Bitcoin Pizza Day! 🥳

🌐Gary Gensler Criticizes the "Undermining" FIT21 Regulation Bill🌐

📌U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler opposed the FIT21 bill just hours before the vote, CoinDesk reports.

"[The document] will create new regulatory gaps and dismantle decades of precedents regarding oversight of investment contracts, exposing investors and capital markets to immeasurable risk," he stated.

The proposal introduces the term "digital commodity" for assets that do not meet the definition of a security and places these assets under the jurisdiction of the CFTC.

#infopost

🔔 News from the past week


💎 Cryptocurrency

🟢 SEC approved spot ETFs on Ethereum

🟢 VanEck has filed Form S-1 with the SEC necessary to launch ETH ETF trading

🟢 Grayscale CEO Michael Sonnenshein has resigned and will be replaced by Peter Mintzberg from Goldman Sachs

🟢 The London Stock Exchange has opened ETP trading for Bitcoin and Ethereum

🟢 The Notcoin crypto project presented a continuation of the game, launching new missions for farming tokens

🟢 Bankrupt exchange FTX completed sale from the auction of its SOL reserves and gained $2.6 billion

🟢 Over the past 6 months, there have been 31 listings on Binance and only five coins are trading in profit

🟢 Cryptobankrupt Genesis will return to clients $3 billion or 77% of funds

🟢 Ukrainian crypto exchange Kuna is looking for a buyer for its local business due to complex regulation


💼 Financial news

🟢 Nvidia reported an increase in quarterly revenue by 262% and profit by 628%

🟢 The EU Council agreed the use of income from frozen assets of the Russian Federation in favor of Ukraine

🟢 Apple will sell iPhone in China with a $318 discount

🟢 Bloomberg: In April they withdrew from China $29.5 billion, the largest outflow of funds since 2016


🔄 Regulation

🟢 The US House of Representatives passed laws banning the release CBDC and cryptocurrency regulation

🟢 The court convicted fake Craig Wright of giving false testimony regarding his involvement in the creation of BTC

🟢 Hong Kong authorities banned the work of the Worldcoin crypto project

🟢 The Supreme Court of the Russian Federation ordered to check the owners of crypto wallets when considering cases related to cryptocurrencies


⚙️ Technologies

🟢 Microsoft presented Copilot AI laptop with GPT-4o support


#weeklynews

🟢Solana validators will receive full fee priority as a result of voting on proposal SIMD-0096

🟢Russian citizens have 4.5 trillion rubles in cryptocurrency in their hands - Central Bank

🟢JPMorgan does not expect SEC to approve other crypto ETFs after spot ETH ETFs

🟢Solana plans to release the full Firedancer update in 2025. The update is aimed at improving the overall reliability and scalability of Solana, which is necessary in the face of increasing network activity associated with decentralized infrastructure protocols


#crypto_tweets

🔔ENS Developers to Expand Service to L2 Networks🔔

💲ENS Labs, the company developing the Ethereum Name Service, announced the expansion of its service to second-layer protocols in a new update.

"We have long been monitoring the state of the L2 ecosystem, and we also contribute through internal innovations such as CCIP-Read and the EVM gateway. We believe now is the perfect time to start migrating some components of ENS, such as .eth name registration, to L2," the developers wrote.

🟠In February, the largest decentralized exchange, Uniswap, introduced subdomains in the uni.eth format based on ENS infrastructure.


#infopost

What is Runes in the Bitcoin network❔

➡️Over the past two years, the Bitcoin ecosystem has significantly expanded due to new assets—interchangeable and non-interchangeable tokens like BRC-20 and Ordinals. The total market capitalization of such coins has surpassed the $2 billion mark.

✔️However, shortly after their emergence, new assets faced fierce criticism from "Bitcoin purists" like developer Luke Dash Jr., who called for "banning" BRC-20 and "inscriptions" through a "spam filter."

📌In September 2023, the creator of Ordinals, Casey Rodarmor, introduced a new standard of interchangeable tokens—Runes. According to the developer, this format leaves less "junk" in the Bitcoin network compared to BRC-20.

What are the differences between Runes and BRC-20❔

👍Like BRC-20, Runes allows for token creation on the Bitcoin blockchain. However, "runes" are positioned as an improved system that is less resource-intensive for the network of the first cryptocurrency.


#Guides

🔔 News from the past week

🟢 On June 30, Binance will close access to a number of stablecoins in the EU that are not regulated by MiCA

🟢 There was a massive outage on New York Stock Exchange, due to which shares of many companies showed minus 99%

🟢 The Ministry of Finance of the Russian Federation increased the budget deficit forecast for 2024 from 1.6 trillion rubles. up to 2.1 trillion rubles.

🟢 Twitter user RoaringKitty revealed a $180 million position in GameStop shares, sending them up +70%

🟢 Binance announced delisting of OMG, WAVES and XEM from June 17

🟢 OPEC+ extended voluntary reduction in oil production until 2025. Will he comply?..

🟢 Forecast: Billionaire Chamath Palihapitiya is waiting in the fall of 2025 Bitcoin at $500k

🟢 Media: Binance user lost $1 million due to a vulnerability in the AggrTrade plugin for the Chrome browser

🟢 Research: After the ETF was approved, 800,000 ETH ($3 billion) were transferred to ether from crypto exchanges

🟢 DEX Velocore on the Linea network was hacked for $6.8 million


#weeklynews

💰Bitcoin recorded its best May growth since 2019💰

📈On June 1, Bitcoin was trading at $67,700. Throughout May, the leading crypto asset grew by an average of 11%.

✔️This growth occurred despite concerns about a major hack of the Japanese cryptocurrency exchange DMM Bitcoin, from which approximately $300 million worth of Bitcoin was stolen, and despite the "predatory" actions of traders towards the end of the month.

#infopost

📈 Robert Kiyosaki Named the Date When Bitcoin's Price Will Reach $350,000

🆎The author of the bestseller "Rich Dad Poor Dad" and entrepreneur Robert Kiyosaki has forecasted the price of the first cryptocurrency to reach $300,000 by August 25.

"BITCOIN will be $350,000 by August 25, 2024, is not a lie. It’s a prediction. It’s speculation, it’s an opinion, but it’s not a lie. It’s suckers bait, but it’s not a lie because any prediction about the future is not a lie. I want $350,000 BITCOIN to be a fact, and I want it to…"

🪙 He added that he continues to buy "more Bitcoin, Ethereum, and Solana" because he is "absolutely confident" in the continued growth of their prices.

🌐 At the same time, Kiyosaki bets not on the properties of the assets themselves, but on the "incompetence" of US leaders, including President Joe Biden, Treasury Secretary Janet Yellen, and Federal Reserve Chairman Jerome Powell.


#infopost