“Failure is not the opposite of success, it is part of success.”
-Unknown
Happy Saturday Folks! What a volatile week in the Crypto Market? Top Digital Assets that received the most media coverage was $BTC (Shocker), $ADA, $ETH, $APE. Peter Brandt was the most covered Analyst with his $28K call but let's see if that plays out; Bitcoin continues to struggle around $35K-36K range.
Web 3 absolutely dominance the news cycle due to the vast areas in which it impacts: NFTS, Metaverse, DAOs, etc. Gucci accepting Digital Assets for payments is a game changer because the more these big brands open up to Digital Assets it will help speed up adoption. LFG is just like Michael Saylor - they will never stop buying Bitcoin until they reach $10B. This should keep the buy side pressure on for the rest of this year hopefully and helps us avoid Peter's $28K call.
Lots continue to happen around Legislation globally and Gov Gavin Newsom signing and EO continues to show the US is more about regulating the space vice banning it. What we are seeing from the Regulators is that they are going after bad actors and that is a good thing.
Notable voices included non other than the infamous Buffett and Munger, Paul Tudor Jones, Arthur Hayes, Vitalik Buterin, and Joe Rogan. All of these received significant media coverage which is more bullish than bearish. Argentinian Banks wanted to allow Crypto trading but the Central Bank put the breaks on that.
With the good comes the bad with the Rari Capital $80M hack and the OpenSea Discord server hack - be vigilant if you are playing in the world of Digital Assets. Aight folks - the news is below, dive in and enjoy!
CRYPTO MARKET WATCH
- Bitcoin Plunge (UToday | BIC | Blockworks | Cointelegraph | Bitcoinist | Bitcoinist | NewsBTC)
- Bitcoin drops to $35.5K as 1,000 point Dow correction marks the worst trading day since 2020 (Cointelegraph | Trustnodes | Cointelegraph | Decrypt | TB | Cointelegraph)
- Bitcoin Jumps on Powell Hike (Trustnodes | Cointelegraph | Blockworks | Decrypt | ZyCrypto)
- Bitcoin funds saw largest single week of outflows since June 2021 (Cointelegraph | BIC | TDH | NewsBTC | NewsBTC)
- Cardano (ADA) Whales Gained Over 190 Million ADA Since March: Details (UToday | CryptoPotato | Finbold | NewsBTC | Cryptoglobe)
- Almost $1 billion flows into ApeCoin’s market cap in 1 hour as Musk adds BAYC Twitter pic (Finbold | EWN | TB | Trustnodes | Cointelegraph | Bitcoinist)
- Smart money is accumulating Ethereum even as traders warn of a drop to $2.4K (Cointelegraph | TDH | Cointelegraph | CryptoPotato)
- Cardano ($ADA) (Cryptoglobe | Cryptoglobe | EWN)
- Ethereum ($ETH) (Cointelegraph | NewsBTC | Finbold)
- ApeCoin slides 40% in three days despite Otherside metaverse land sale — here's why (Cointelegraph | Decrypt | BIC)
- Peter Brandt: Analyst Who Accurately Called Massive Bitcoin Crash Has Bad News for Crypto Traders – His New Target $28K (TDH | Cryptoglobe | ZyCrypto)
WEB 3
- Bored Apes Yuga Labs Team Otherside Mint (Coindesk | Decrypt | BIC | TB | Cryptoglobe | Cointelegraph | EWN | Decrypt | Bitcoinist | Cointelegraph | Decrypt | NewsBTC | Finbold | TDH)
- Investment management firm VanEck launches NFT collection (TB | EWN | Blockworks | Decrypt | CryptoPotato | Cointelegraph)
- Shanghai Residents Vent Lockdown Frustrations Into NFT Collections (Decrypt | Bitcoinist | Cointelegraph | BIC | Bitcoinist)
- Dubai’s crypto regulator to launch metaverse headquarters in The Sandbox (TB | EWN | Blockworks | Cointelegraph)
- Kraken opens waitlist for forthcoming NFT platform (TB | Cointelegraph | EWN | Decrypt)
- Square Enix Sells Off Tomb Raider and Three Studios to Fund NFT Games (Decrypt | BIC | Cointelegraph | Blockworks)
- Sony and Theta Labs Launch 3D NFTs That You Can (Almost) Touch (Decrypt | Cointelegraph | Bitcoinist)
- Shiba Inu Can Now Be Used to Purchase Land in SHIB's Metaverse: Details (UToday | Cryptoglobe | Cointelegraph)
- Coinbase's NFT marketplace beta is now open to everyone (TB | BIC | Decrypt)
ACCEPTANCE/ADOPTION
- Select Gucci stores to accept bitcoin, dogecoin and more as part of ongoing experiments in web3 (TB | Decrypt | Cointelegraph | UToday | Cryptoglobe | Bitcoin Magazine | Bitcoinist)
- Wikipedia halts crypto donation payments after 8 years of service (Finbold | BIC | CryptoPotato | UToday | TB | TDH)
- House Sold In Portugal For 3 Bitcoin In Country's First-Ever Direct Transaction (Bitcoin Magazine | CryptoPotato | Finbold | Cryptoglobe)
- Luna Foundation Guard acquires additional 37,863 BTC as part of reserve strategy (Cointelegraph | TB | Decrypt | BM)
- Luna Foundation Guard Buys $1.5B More Bitcoin to Boost Stablecoin Reserve (BIC | Blockworks | TDH)
- Virginia county looks to crypto yield farming for pension system investments (TB | BIC | Cointelegraph)
- New York Luxury Gym Club to Accept Membership Payments in Crypto: Report (CryptoPotato | TB | Cryptoglobe)
- Cuban residents turn to crypto in the face of U.S. sanctions and collapsing currency (Finbold | Bitcoin Magazine | CryptoPotato)
LEGISLATION/REGULATION
- California Gov. Gavin Newsom Signs Crypto Executive Order (Decrypt | Cointelegraph | CNBC | Blockworks | TB | BIC)
- SEC nearly doubles crypto unit staff to crack down on abuses in the booming market (CNBC | Cointelegraph | TB | CryptoPotato | BIC | TDH)
- SEC Fines Nvidia For Being Crypto Shy (Trustnodes | Cointelegraph | UToday | Finbold)
- US adds Blender.io crypto mixing service to North Korean sanctions list (TB | UToday | Bitcoinist | Decrypt)
- Bitcoin Mining Council rebuts House Democrats in letter to EPA (TB | Cointelegraph | BIC | Bitcoinist)
- IMF says CAR's adoption of bitcoin as legal tender raises legal and economic concerns (TB | BIC | EWN)
NOTABLE VOICES
- Warren Buffet & Charlie Munger: Open Fire at Crypto; Is It “Stupid and Evil?” (BIC | TB | Finbold | Cryptoglobe | ZyCrypto | Bitcoinist | Finbold | TDH)
- Paul Tudor Jones: Billionaire Warns of Economic Disaster, Says Hard Not To Be Crypto Bull Currently (Cointelegraph | CryptoPotato | Bitcoinist | TDH | Cryptoglobe)
- Arthur Hayes: Former BitMEX Chief Asks Court for Probation, Not Jail (UToday | BIC | TB)
- Vitalik Buterin: L2 transaction fees need to be under $.05 to be ‘truly acceptable’ (Cointelegraph | BIC | EWN)
- Joe Rogan: Government ‘is freaking out’ over Bitcoin’s viability as a currency (Finbold | Cointelegraph | BIC)
BANKS/EXCHANGES
- Two Argentina-based banks add crypto trading to their platforms (TB | Decrypt | Cointelegraph | Bitcoinist | BIC | Blockworks | ZyCrypto)
- World’s Largest Family-Owned Private Bank Now Offers ‘Direct Investments’ in Crypto (Cryptoglobe | Cointelegraph | CryptoPotato | BIC)
- Argentinian central bank puts its foot down on crypto trading in major banks (Finbold | CryptoPotato | BIC)
- Coinbase Research (TDH | Cointelegraph | CryptoPotato)
ATTACKS/HACKS/SCAMS
- Hackers steal $80 million from Rari Capital's lending pools (TB | UToday | Decrypt | BIC | Cointelegraph | Blockworks)
- OpenSea Discord server hacked to promote scam NFT pass (TB | Finbold | UToday | EWN | CryptoPotato | Cointelegraph | Decrypt | Blockworks)
- Mining Capital Coin CEO indicted in DOJ fraud case (TB | UToday | Cointelegraph | TDH | Bitcoinist)
- Dfinity Foundation Sues ‘Sordid’ Meta Over Infinity Logo (BIC | Decrypt | Bitcoinist)
CEFI/DEFI
- Crypto.com Revises Card Staking Rates Following Backlash (EWN | Decrypt | Cointelegraph | BIC)
- MicroStrategy to Receive Margin Call If Bitcoin Reaches $21,000, But It Will Never Happen for Them (UToday | Cointelegraph | Trustnodes)
MINING
- Uzbekistan Legalizes Crypto Mining – but Only if Powered by Solar Energy (BIC | Blockworks | Decrypt | CryptoPotato | Bitcoinist)
- Argo's Texas 'flagship' bitcoin mining facility has been energized (TB | Cointelegraph | Blockworks)
PARTNERSHIPS
- Algorand (ALGO) Soars 19% on FIFA Partnership (UToday | Cointelegraph | BIC | Cryptoglobe | Blockworks | Cointelegraph | Bitcoinist | TDH)
ETFs/FUNDS
- Crypto Asset Manager Valkyrie Launches Avalanche Trust for Accredited Investors (Blockworks | TB | UToday)
