Plus: DOGE dreams vs. Musk’s reality check
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GM. Grab your cryptocurrency blender – we’re releasing today’s juiciest updates for a smooth, market-ready mix.
🏦 Standard Chartered obtained a digital asset license in Luxembourg.
🍋 News drops: James Howells took a legal L in his battle over $770 million of BTC he accidentally threw away, Elon Musk’s plans for DOGE came true, and more
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🍍 Taste of the market today
The cryptocurrency market feels like that friend that always has “a crazy business idea” – They are unpredictable, even scary, but every time you go out it is very exciting. (and you still want to start that podcast with them) 💡
The fear and greed index just moved into the neutral zone (50) for the first time since October. bitcoin fell about $91 thousand yesterday.
And that’s not all US Spot Bitcoin ETF On Wednesday there was an outflow of $578.8 million.
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This fall is linked to a lot of things. we already talked about yesterday: A stronger US dollar, inflation anxiety, fading hopes for interest rate cuts, and rumors about the US government possibly selling a huge stockpile of BTC.
CryptoQuant’s Mac_D Noted that short-term holders are now selling at a loss – Historically, that has been a time when long-term investors stepped in to get their hands on cheaper coins. So Mac_D thinks this is just a correction in a longer rally.
And of course Raoul Pal from Real Vision brought bananas into the conversation 🍌 Use the term “Banana Zone” to describe a time when prices skyrocket quickly and things get busy.
Here’s how Pal breaks it down:
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Phase one: The initial breakup;
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Phase two: The “Banana Singularity” (aka altcoin season), where lots of coins go up;
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Phase three: The concentration phase, during which major cryptocurrencies reached incredible new highs.
Pal says the market is currently in Phase Oneso the “Banana Singularity” could be just around the corner.
So yeah, whether the market is next “crazy idea” Whether it’s pure genius or just another wild detour, one thing’s for sure: it definitely won’t be boring, and we’re definitely here for it 😛
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🥝 Harvest of memecoins
The mood of these memecoins today? All the jokes, all the profits, no regrets.
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Name |
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24H change |
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StealthSDK STEALTH |
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ai16zterminalfartARCzereLLMswarm THE GUDS |
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AIWS AIWS |
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Autonomous virtual beings ABV |
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Data as of 07:50 am EST.
Check out these memecoins and many more here.
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One of the basic principles of cryptocurrencies is: “Let’s stop depending on these banks and TradFi, we have to take the power back into our own hands, LFG!! 🗣🔈”. (There are also things like Butthole Coin, but let’s not get into that today.)
But… at the same time… when that institutional money starts pouring in… Let’s say the drinks could be on me. 👀
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The latest update in that department: Chartered StandardA banking giant with over $870 billion in total assets, is getting even more comfortable with cryptocurrencies.
They obtained a digital asset license in Luxembourg, which is basically their VIP pass to get started. offering digital asset custody services in the EU.
At launch, they will start with the OGs: Bitcoin and Ethereum – but they have promised more assets in 2025.
While they will only offer escrow services (no trading for now), the ripple effect of this could be huge. For a start:
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Trade validation– another proof that cryptocurrencies are not just some internet monopoly money;
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More liquidity: When trusted entities like Standard Chartered enter the industry, people take notice. Translation: wider adoption and therefore more effective in the system;
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Setting a trend: Banks and asset managers are realizing that they cannot sit on the sidelines of the crypto wave. And especially with Trump’s pro-cryptocurrency stance, we can expect even more institutions to get on board.
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So yeah, if this keeps up, maybe, just maybe, next time couple of rounds could be in me 😎 …But don’t get used to it.
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🍋 News drops
🗑 James Howells, the guy who accidentally dumped $770 million worth of Bitcoin into a landfill, lost his legal battle to dig it up. Newport City Council closed it over environmental concerns, and now a judge has ruled that its case has no chance at trial.
💸 Elon Musk’s goals of cutting DOGE from US government spending have been put to the test. It turns out that Cutting $2 trillion is not in the cards; Now, his goal is half that number.
👀 Coinbase received a subpoena from the CFTC. Apparently, they want client information in their case against Polymarket, a cryptocurrency prediction platform.
⚡️ Thai police and electricity officials arrested a company for operating 996 Bitcoin mining rigs with stolen power. They allegedly stole electricity worth hundreds of millions of baht.
🇷🇺 Russian officials confiscated 103 Bitcoin (worth $10 million) from Marat Tambiev, a former ICRF employee. Apparently it’s all part of a massive crypto bribery scandal.
🚀 CleanSpark has just joined the Bitcoin 10K Club – they now have 10,097 BTC in their treasury. That makes them the fourth publicly traded miner to unlock this achievement.
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🧃 Sip of knowledge
Learn about Vanilla Finance with BitDegree’s latest mission, “Sweeten your DeFi experience with Vanilla Finance”:
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🍌 Juicy memes
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