Trump Tells USA To HODL, Europe’s Fourth Largest Hedge Fund Has Half A Billion In Bitcoin ETFs!

GM anon ☕🐺

In today’s Alpha Bytes👇

Trump warns against selling US Bitcoin holdings and defends crypto innovations. Binance challenges an $86M tax notice in India. SEC urges court to reject Coinbase subpoena for documents. Hedge fund giant Capula reports owning $464M in spot bitcoin ETF shares.

BTC $56,004 (+10.38%), ETH $2,533 (+13.79%), SOL $143.05 (+23.95%)

Crypto News 📰

• Ethena's USDe sees nearly $100M in redemptions this week in 'stress test' for synthetic dollar

• Justin Sun pledges to create $1B fund to ‘combat FUD’ after facing $280M in losses

• Xapo Bank to offer interest-bearing bitcoin accounts in UK after 'passporting' its license

• Swan Bitcoin cancels conference amid staff reduction, mining shutdown

• South Korean crypto market maker to face trial in $59.6M 'scam coin’ case

• Polymarket sees $1.4M bet on federal interest rate cut after market crash

• Robinhood says its 24-hour trading ‘currently operating’

• Ex-Ripple board member, Biden adviser joins Harris campaign

• Bill proposes to give Secret Service more power to pursue crypto crime

• Bitcoin bill gains support, thousands push US senators to back it

• Defi giant Aave raises $6M in revenue as crypto market plunges

• South Korean regulators probe altcoin AVAIL Bithumb price spike

• Japan-focused hedge funds drop 3.7%, biggest daily loss in Goldman Sachs' records

Project Updates 🔥 

• Zircuit launches initial mainnet phase, rolls out ZRC token airdrop claims

• Circle to discontinue USDC support on Flow blockchain

• Next Generation partners with Decta to launch Euro-Pegged stablecoin EURT

• ZetaChain mainnet Beta now supports Polygon and its active wallets

• Ordinals and Runes Protocols upgrade to beta version

• Optimism announces upcoming OP stack chains reaching Stage 1

• Binance Labs Incubation Program announced the second batch of projects for the seventh season

Threads 🧵 

• Some thoughts about crypto by Joel John

• Current market thoughts

• Why are markets crashing?

• Here’s how abstraction minimizes fragmentation in DeFi, making it more fluid

• How the Bank of Japan wrecked the yen carry trade — and crypto markets

• The bull market has not started yet

• Bitcoin dominance hits 58% amid altcoin, stock market bloodbath

• Bitcoin decline is similar to the start of the 2016 bull run — Peter Brandt

• Inflow and outflow report

Launches 🚀 

• NAVI Pro launch: A new generation of liquidity management on Sui

• Grok V2 is set to launch on the X Platform for iOS

• Hybrid crypto exchange X10 launches mainnet on StarkEx

• GRVT launches a public testnet to evaluate key features

• Caitlyn Jenner to launch MEDAL token on Ethereum Layer-2 network Base

Fundraise 💰

• Cartridge secures $7.5M in Series A funding led by Bitkraft Ventures

• Solana-Based Elmnts secures $2M in pre-seed funding

• Zoth secures $4M in strategic funding for tokenized liquidity notes

That's a wrap for today!

Join our smol research channel to share crypto insights and help us empower the crypto community👇