Bitcoin Drops Below $56k, Biden's Exit Odds Soar & Ethereum ETFs Nearing Approval!

M6 Labs Alpha Bytes 🚨: 4th July

GM anon ☕🐺

In today’s Alpha Bytes👇

Bitcoin drops below $56k amid Mt. Gox payout concerns, US economic uncertainty. Biden's odds of dropping out surge to almost 80% on Polymarket after New York Times report. Ethereum ETFs could come as soon as next week as Bitwise files amended S-1 early. 

BTC $56, 980 (-5.48%), ETH $3, 125 (-5.25%), SOL $131.98 (-7.85%) 

Crypto News 📰 

  • Mt Gox wallets make small Bitcoin moves, including to recipient exchange Bitbank, shows Arkham

  • German government transfers additional $175M in Bitcoin, including $75M to crypto exchanges

  • $100M Bitcoin liquidated as BTC drops: Will ETF investors panic sell?

  • Chainlink to handle on-chain NAV for Sygnum’s $50M tokenized Matter Labs treasury

  • Consensys acquires Wallet Guard to help protect MetaMask users against hacks and scams

  • EigenLayer competitor Symbiotic crosses $1B in deposits in under a month

  • US spot Bitcoin ETFs see $20M net outflows while most funds record zero flows

  • Data blockchain Flare connects to over 70 blockchains via LayerZero integration

  • Mantra to tokenize $500M real estate assets for UAE builder MAG Group

  • Obol Labs forms industry group to push for decentralized validator technology

  • Polkadot marketing cost controversy sparks community criticism

  • BitMEX launches new memecoin basket index tracking crypto market’s top 10 memecoins

  • Bittensor proposes burning 10% supply to stabilize TAO following $8M exploit

  • Europe’s largest Bitcoin miner Northern Data to launch IPO in the US

  • Crypto VC investment ‘continued rebound’ in Q2 with $3.2B invested - Galaxy

  • Web3 Foundation, Parity Technologies dismiss Polkadot treasury depletion fears

  • Lido sees around 100k increase in staked Ethereum amid SEC scrutiny

  • Russia contemplating permanently legalizing stablecoins for cross-border payments

  • 'Notcoin' launches accelerator to boost next wave of Telegram Crypto Games

  • Judge sides with CFTC, deems OHM and Klima commodities in case involving crypto ‘Ponzi’-like scheme

  • Indian crypto exchange CoinDCX acquires BitOasis as part of international expansion plan

  • Solana ETF approval odds are better without Gensler at SEC, says VanEck

  • US Courts to decide if NFTs are securities as DraftKings case goes to trial

  • KuCoin to enforce 7.5% VAT on Nigerian trades amid regulatory changes

  • Solana memecoin MEW's Cat character to feature on trending Telegram mini game


Project Updates 🔥 

Threads 🧵 

Launches 🚀 

Fundraise 💰

Calendar 🗓️

  • 2 July : $EGLD - Vega Patch 3

  • 3 July : $RON - Goda Upgrade

  • 3 July : $ETHFI - Cash Card (Pre-order)

  • 4 July : $DESO - Revolution PoS

  • 4 July : Tabi - Early Bird Node Ticket Sale

  • 5 July : $ZIG - Tokenomics Upgrade Proposal

  • 5 July : $MAVIA - Phase 2 Rollout

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Analysis 📊

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