Crypto Market in Limbo

M6 Labs Alpha Bytesūüö®: 13th May

GM anon ‚ėēūüźļ

In today‚Äôs Alpha BytesūüĎá

The crypto market finds itself in a weird place recently. The market is sort of ranging sideways without much of a clear direction on what the next narrative rotation will be. Most previous narratives have seemingly exhausted themselves for now. 

Teams continue building and the regulatory landscape continues to develop at a snail’s pace. The U.S presidential elections should provide some clearer insight later this year into how the regulatory front will shape up.

In the meantime, the most productive use of crypto participants’ time would be continuing to research new and upcoming projects (check the threads section for what crypto natives have their eyes on now)  

BTC $62,863 (+2.73%), ETH $2,964(+1.18%), SOL $145.87 (+0.43%)

Project Updates ūüĒ•ūüĎ∑ūüŹľ‚Äć‚ôāÔłŹ¬†

Threads ūüßĶ¬†

Crypto News ūüďį

  • Mastercard, JPMorgan, Visa, Wells Fargo, and other top US banks are testing shared ledger technology for tokenized asset settlements¬†

  • Binance fined by Canadian regulators for $6 million CAD¬†

  • BlockFi planning to shut down web platform this month

  • Eclipse CEO responds to multiple sexual assault allegations¬†

  • ARK 21Shares to remove staking from their spot Ethereum ETF applications¬†

  • JPMorgan Chase discloses spot Bitcoin ETF holdings¬†

  • Wells Fargo discloses spot Bitcoin ETF holdings¬†

  • @RevolutApp‚Äôs crypto exchange, Revolut X, is now available for professional traders¬†

  • 1157 wBTC hacker begins sending funds back to the victim after agreeing 10% bounty¬†

  • Bittensor to begin expanding the number of subnets every week (To add four until the next limit of 64)¬†

  • US inflation reports are expected to shake the crypto markets

  • Chinese authorities arrest six suspects in $300 million crypto fraud case¬†

  • Bitcoin Cash eyeing partnership with Cardano as investors flock to Rollblock

  • Bitcoin Runes registers steep drop in activity just weeks after generating $135 million in fees¬†

  • Crypto VCs returning to ‚ÄėProfessor Coins‚Äô as funding rebounds¬†

  • Ethereum becoming increasingly inflationary as fees hit an all-time low

  • MetaPlanet adopts Bitcoin as reserve asset¬†

  • Uniswap founder Hayden Adams urges President Biden to change anti-crypto stance¬†

  • Parity wallet hacker begins laundering $150k in Ethereum after 7 years of inactivity¬†

  • Over 50% of spot trading pairs on Poloniex appear to be dead¬†

  • US court orders the freezing of 270 crypto accounts tied to North Korea

  • El Salvador launches transparent Bitcoin investment data platform¬†

  • Kspersky confirms North Korean hackers are targeting crypto firms with ‚ÄėDurian‚Äô malware¬†

  • Its clear the US government is going after Tether: Ripple CEO¬†

  • Franklin Templeton CEO says all ETFs and mutual funds will be on the blockchain¬†

Fundraise 

  • @ArchNtwrk raises $7 million in round led by Multicoin Capital¬†

  • @GlacisLabs raises $2.1 million in round led by Arrington Capital and Paper Ventures¬†

  • ArciumHQ raises $5.5 million in strategic round led by Greenfield Capital¬†

  • BacGames raises $1.5 million in seed round¬†

Launches 

That's a wrap for today!

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