Market Shakeup: Binance CEO Sentenced, Bitcoin Plummets, and BlackRock Sets Record

M6 Labs Alpha Bytes🚨: 1st May

GM Anon ☕🐺

In today’s Alpha Bytes,

Changpeng Zhao Sentenced - Binance CEO Changpeng Zhao has been sentenced to four months in prison, a development that's causing ripples across the crypto industry.

Bitcoin Price Tumbles - Bitcoin has dropped below the $60,000 mark, currently trading at $57,668, reflecting a sharp 5.7% decrease. This drop is part of a broader market downturn that's considered the worst since the FTX crash.

BlackRock's BUIDL Achievement - BlackRock's BUIDL has become the world's largest tokenized treasury fund, marking a significant milestone in the adoption of blockchain technology in mainstream financial services.

and much more…👇

BTC $57,668 (-5.7%), ETH $2,901 (-3.6%), SOL $123 (-4.3%)

Crypto News 📰

  • Binance boss Changpeng Zhao sentenced to four months in prison 

  • Bitcoin tumbles below $60,000, risks deeper pullback as markets endure worst month since FTX crash

  • BlackRock’s BUIDL becomes the world’s largest tokenized treasury fund 

  • BONK surpasses Floki to become the fifth-largest meme coin 

  • Probe agency seizes 90 crore kept in crypto wallets in ‘e-nugget gaming app’ scam 

  • Raoul Pal signals ‘Banana Zone’ rally, predicts strong crypto summer for digital assets. 

  • Cryptocurrencies, stocks side ahead of Fed rate decision 

  • Bitcoin sinks below $58,000 as crypto market tumbles 9% in run up to Fed decision 

  • Crypto analyst reveals why $59,000 is an important level for Bitcoin

  • Meme coin protocol raises $5.5 million, VC calls it Ethereum’s Ordinal moment 

  • Crypto markets see significant decline as markets slip 

  • What will it take to push Solana back to its high of $260 

  • House’s McHenry accuses Securities and Exchange Commission’s Gensler of misleading Congress on Ethereum 

  • Indonesia’s election results could be good for the crypto industry

  • Bitcoin Jesus charged with evading nearly $50 million in taxes 

  • Bitcoin set to become more dominant even as it stares at first monthly loss since August 

  • ETH holds up despite market correction 

  • Web3 in the Middle East  

  • Web3 gaming won’t exist in 5 years 

  • No sign of Bitcoin miner capitulation despite plummeting revenue 

  • EigenLayer sees over 12,000 queued withdrawal, how far will the TVL fall?

  • Nigeria restricts fintech onboarding to stop KYV-evading crypto investors 

  • What happens to all the lost Bitcoin?

  • Changpeng Zhao’s 4-month sentence a general deterrence 

  • XRP, SOL, DOGE open interest falls 51% over the past month

  • Vitalik Buterin breaks down Binius as a way to speed up zero-knowledge proofs 

  • RWA protocols are closing in on $8 billion total value locked: Messari

  • Fantom bets on safer meme coins with the launch of $6.5 million dev fund 

  • Traders seem unfazed by Bitcoin’s recent price correction 

  • Bitcoin’s euphoria phase cools, but bottom could be near 

  • US Court to hear proposed remedies from Terraform Labs, Do Kwon

  • A chronology of Binance’s legal battles in the US

  • Physical version of gold-backed token replaces Zimbabwe Dollar 

  • Bitcoin ecosystem is thriving despite market correction 

  • Coinbase integrates Lightning Network for Bitcoin transactions 

  • April sees $25 million in exploits and scams, a historic low. 

  • Renzo plummets 43% after Binance listing and airdrop 

  • Circle-backed Pike Finance loses $1.6 million due to USDC vulnerability 

  • Crypto community reacts to Changpeng Zhao’s sentence 

  • Germany’s Bundesbank says households appear open to CBDCs 

  • NYC woman sentenced to 19 years in prison for funding terrorism using Bitcoin

  • Why did Bitcoin ditch Ordinals?

  • The best crypto apps for beginners 

  • US stablecoin bill may trump Bitcoin ETF impact: Bitcoin CIO

  • EigenLayer airdrop draws criticism amidst transferability concerns, allocations 

  • Liquid restaking protocol Renzo bags $150 million volume following airdrop 

  • Ripple eyes $1 while meme coins prepare for potential gains in Q2

  • HAQQ Network expanding Islamic Web3 initiative with Gold token and RWA 

  • Ethereum overtakes Solana by DEX trading volume 

  • Omnity reveals first interoperability solution for Runes 

  • BlackRock Bitcoin ETF attracts no inflows for 4th consecutive day 

  • Hong Kong ETF Day 1 flows 

  • Ripple announces partnership with Hashkey Group and SBI Group to bring supply chain finance to Japan 

  • MicroStrategy announces Q1 financial results 

  • FTX estate concludes second tranche of locked Solana sales with bids averaging around $100

  • Milky Way announces $5 million seed round led by Polygon and Binance Labs 

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That's a wrap for today, anon. Remember, true decentralization could lead to equal wealth distribution. Wealth is built on sharing crucial information at the right time—and acting on it. Stay informed and proactive. Embrace your inner Crypto Pragmatist.

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