The 7 days
What's Coming & What Happened
What's Coming:
Macro
BOC Meeting on 5
ECB Meeting on 6
US Non-Farm Payrolls on 7
Apple WWDC on 10
Crypto:
Coinbase Derivatives will launch retail-sized futures contracts for oil and gold on 3
Taiko Bybit Listing on 5
zkSync airdrop checker rumours
What Happened:
Crypto:
After three years of work, PayPal’s stablecoin $PYUSD is finally coming to Solana.
Winklevoss crypto firm customers will get back triple the value of their frozen assets.
Biden vetoes congressional disapproval of SEC accounting bulletin on crypto assets.
ETH spot ETFs to see much lower demand than Bitcoin ETFs: JPMorgan — expected $3B of net inflows this year, $6B if staking allowed — The market’s initial reaction to the launch of spot ETH ETFs is likely to be negative — ETHE investors are expected to take profit.
SEC told spot Ethereum ETF issuers to get first round of draft S-1 forms in by Friday: sources
The New York Stock Exchange Announces Collaboration with CoinDesk Indices to Launch Financial Products Tracking Spot Bitcoin Prices.
Pudgy Penguins to release mobile game in 2025
Crypto Bridge LayerZero Connects to Solana Blockchain
Biden campaign ramps up crypto industry outreach in surprising tone 'shift'.
ARK Invest no longer a partner with 21 Shares for proposed spot Ethereum fund.
Tether Buys $100M Worth of Bitdeer Shares With Option to Purchase $50M More.
FTX lawyers and advisors charged over $500 million in bankruptcy process so far
OpenAI's Sam Altman and Argentinian President Javier Milei discuss Worldcoin investment.
Worldcoin extend term of the trading firms loan agreements for one year, until June 14, 2025.
Terraform Labs, Do Kwon agree to settle SEC civil fraud case.
Binance’s billionaire founder Changpeng Zhao has reported to a low-security federal prison in Lompoc, California.
Mastercard launches P2P crypto network, vanity address system.
Ethereum Name Service proposes migration to Layer 2.
Solana validators to receive full priority fees as SIMD-0096 proposal gains approval.
Ethereum targets Q1 2025 for Pectra upgrade rollout, following Dencun.
Matter Labs Drops All ‘ZK’ Trademark Applications After Being Slammed for ‘Oppressive Behavior’
FTX offloads remaining Anthropic shares as bankruptcy cost surpasses $500 million
Japan's DMM Bitcoin says over $300 mln of cryptocurrency lost.
Decentralized exchange Velocore addresses $7 million hack in postmortem, offers bounty to hacker.
Uniswap postponed voting to implement fee mechanism.
Hidden Road Stops Offering Clients Access to Crypto Venue Bybit.
Hong Kong crypto exchange licence applicants with ties to mainland China withdraw from city.
A malicious ‘Aggr’ extension from the Chrome Store stealing all cookies from websites visited by the user
U.S. Treasury Describes NFTs as 'Highly Susceptible to Use in Fraud and Scams'
Ethena's 'synthetic dollar' USDe crosses $3 billion supply just four months after launch
Macro:
FED Speakers tldr: no Urgency to cut rates rn.
US GDP Growth Was Slower Last Quarter on Soft Consumer Spending.
April PCE inflation not too hot, or cool.
OPEC+ extends deep oil production cuts into 2025.
RBI moves 1 lakh kg of gold from UK back to India, first such move of this quantum since 1991.
Japan Spent Record $62 Billion to Prop Up Yen in Past Month.
Investors flock to Aramco share sale that could raise $13 billion.
China vs USA
Inflation May Not Come Back to Normal Levels Until 2025/2026
Top 5 holdings in S&P 500 (MSFT, AAPL, NVDA, AMZN, & GOOG) now = 27%+ of index's weighting That's highest % going back to 1980.
Fundraises:
Coinbase and Haun Ventures invest $11 million in Neynar, a toolbox for Web3 social networks
Bitcoin Staking Project Babylon Raises $70M Led by Paradigm
Banking giant HSBC leads Series A funding in Marketnode.
Tokenization platform Fortunafi raises funds at $48 million valuation, unveils stablecoin protocol Reservoir
Oracle developer Switchboard raises $7.5 million in Series A funding.
Decentralized AI project GaiaNet raises $10 million in funding round.
RWA stablecoin issuer Anzen Finance raises $4 million in seed funding.
Reads:
How Researchers Cracked an 11-Year-Old Password to a $3 Million Crypto Wallet.
One of the biggest hacks of the year may have started to unfold.
Evaluating token economics for DePINs: cost estimation.
DOJ shut down the world's largest botnet, '911 S5,' and arrested the man [Yunhe Wang] behind it.
Binance research: Scaling Bitcoin.
Inside the Google algorithm.
“I'm done with this crap. It's 2024, and L2s are still spewing the same bullshit about their core values being "permissionless" and "censorship-resistant" after being live for over a year but are still running centralised sequencers”
How VCs killed the meaning of work.
“Nothing more dangerous than somebody who thinks they’re going to save the world”: Naval
"99.99% of the projects at this conference are complete and utter bullshit"
bitcoin power law
OTC prices:
The World:
Keith Gill Reddit account shows $116 million position in GME stock.
Taiwan separatists will be 'crushed': China defense minister.
Nato has just 5% of air defences needed to protect eastern flank.
Nvidia unveils next generation of AI chips.
Germany allows Ukraine to strike targets inside Russia with German weapons after Biden administration allowed Ukrainian forces to use U.S.-provided weapons to strike targets inside Russia near the city of Kharkiv in Ukraine's east.
Trump found guilty in hush money trial.
El Salvador's pro-Bitcoin President Nayib Bukele sworn in for second term
Claudia Sheinbaum Makes History, as First Woman Elected to Lead Mexico.
Exit polls predict a decisive Modi election win in India.
OpenAI’s vice-president of global affairs: “I would not say our mission is to build superintelligence”
China lands a spacecraft on the moon’s far side to collect rocks for study.
Shein set to file for £50bn UK flotation.
Bill Ackman Eyes IPO of Pershing Square.
Boeing executives unlikely to be charged over 737 MAX crashes, source says
Rumours:
Argentina and El Salvador are reportedly in talks about possible cooperation agreements on Bitcoin adoption.
Andreessen Horowitz and other investors / partners in Synapse, the just-collapsed fintech, were aware of recordkeeping discrepancies for years.
Market Move:
BTC $67.7k
GOLD $2,326
Nvidia $1096
Coinbase $226
SPX $5,277
NDX $18,536