Bitcoin breaks $67k barrier: What's driving the surge?

GM anon ☕🐺

In today’s Alpha Bytes👇

Bitcoin surged past the $67,000 mark over the weekend, hitting this level for the first time in almost a month. The recent price bump is mainly thanks to the hype around spot Bitcoin ETFs and a bit of relief on the US inflation front. It's not just Bitcoin that's riding the wave – Solana (SOL), Ethereum (ETH), and Chainlink (LINK) are also seeing some solid gains.

BTC $67,020 (+0.28%), ETH $3,089 (+0.37%), SOL $177.48 (+5.05%)

Project Updates 

• @XLinkbtc exploited for $4.3 million 

• Pumpdotfun releases post mortem following major exploit 

• FrankResearcher breaks down @pumpdotfun exploit 

• Synthetix’s sUSD depegged 

• LineaBuild launches Linea Surge Volt 1 program 

• @Backpack introduces Mad Lads VIP Program 

• @Rabby_io first round of points claim ends on May 31st 

• Spectral Labs unveils SYNTAX 2024 roadmap 

• Bitfinity EVM launches as BTC L2, supports Runes 

• @zkSync teases v24 upgrade and airdrop rumors 

• A proposal by @ThanefieldRes for GnosisDAO to conduct a $30 million buyback 

• Arbitrum DAO potentially creating an M&A unit using their treasury 

• LayerZero Labs releases list of Sybils

• FantomFDN reveals Sonic Network and token migration 

• AITProtocol revamped tokenomics 

Threads 

• @Tradetheflow recap on VC+CEX cartel coins 

• A thread by Binance Research on low float high FDV coins 

• The United States Senate voted 60-38 to overturn SAB 121: An explainer by @avichal 

• A thread by @DistilledCrypto on exit strategies for the bull run 

• New article by Vitalik Buterin regarding ETH’s permissionlessness and decentralization 

• @omeragoldberg explains LayerZero’s Sybil Detector 

• @Taran_ss shares recent OTC prices for projects 

• @cobie releases article about private capture and phantom prices 

• A thread on Fantom’s migration 

• A list of 100x AI gems 

• Airdrop farming with points is losing its hype 

• Understanding the Meta game - An attempt at adding structure to a dynamic concept 

• Catalysts for ZK-Proofs 

• Introducing Hourglass Boost 

• Unlocking universal connectivity: How WiFi Map can revolutionize the internet 

• What is Polygon zkEVM

• How does zkSharding work? 

Crypto News 

• Gamestop files to sell up to $45 million worth of shares.

• OpenAI announces partnership with Reddit 

• Kraken is actively reviewing @Tether_To’s status under new EU rules 

• Genesis gets approval to repay creditors billions 

• Dolce & Gabbana NFT loses 97% value, brand sued 

• @drakefjustin discloses EigenFoundation advisory information 

• The @pumpdotfun exploiter has been arrested by law enforcement 

• 60 crypto firms pitch support for large market structure bill ahead of next week’s vote 

• Crypto industry donors have poured over $94 million into federal political committees since 2023 

• Resurgent crypto prices must not overshadow the lessons of FTX 

• Venture Capital funding in crypto rises to $2.4 billion 

• Bitcoin in bear zone as whales take a step back 

• Binance-backed Bitcoin restaking startup BounceBit unveils roadmap 

• Linux investor says he does not believe in crypto 

• Analysts consider possible short squeeze ahead of spot Ethereum ETF deadline 

• Imaginary Ones and HUGO launch Web3-enabled customizable denim jacket 

• Bitmain-backed cloud mining company BitFuFu’s revenue up by 1590% in Q1 

• DOJ charges two Chinese nationals in $73 million crypto scam 

• Dragonfly Capital managing partner challenges VC token dumping theories 

• Ripple advocates for quantum-resistant cryptography following expert warning 

• Venezuela cracks down on crypto mining to tackle growing energy crisis 

• AntPool mines 7 consecutive blocks, centralization trend continues 

• Tornado Cash verdict has chilling implications for the crypto industry 

• Captain Tsubasa NFT soccer game debuts on Oasys blockchain 

• Ethereum devs’ paid EigenLayer role sparks debate regarding conflicted incentives 

• DeFi Technologies CEO on the industry’s first Bitcoin yield-bearing ETP 

• Crypto Security: EQIFI to refine on-chain safety with MatterFi 

• Stake DAO’s sdYFI platform fee switch has been activated 

Launches 

• TLX Protocol 

• FANTV

• Eternal AI TGE 

• Natix Coinlist Sale 

• Planar Finance IDO 

• Subsquid TGE 

• ShibaSwap 

• AlienZone 

• LayerZero Sybil Hunt 

• PEW TGE 

Fundraise 

• @Fanta_Goal raises $3 million

• ParamLaboratory raises $7 million in round led by Animoca Brands

• @multipoolfi (DeFi) raises $659k 

• Marginal DEX announces pre-seen raise led by NLH and Baboon 

That's a wrap for today!

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