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Good Morning,

Here's a quick preview of today’s content: Garlinghouse goes after Lummis for ditching him, Coinbase is working with the DOJ, Solana technology advancement could be forever changed, Circle could consider acquisition exit over IPO, GENIUS stablecoin legislation trends positively in the Senate, Russian Binance exec arrested, and so much more.

Happy Tuesday – bringing more pro-crypto content today! Let’s dive in.

Also, we had a couple people reach out that their email yesterday went to their ‘promotion folder’ – make sure to move this email into your primary inbox and mark as important to not have that happen moving forward. Thanks for the huge help 🤝

Market Snapshot

• Bitcoin is currently priced around $105,000, showing a +2.0% increase in the last 24 hours, with analysts predicting a potential breakout

  • A converging triangle pattern indicates that Bitcoin may soon experience significant price swings, with a target of $116,000 suggested by traders.

  • Critical resistance at $106,500 could determine Bitcoin's next move, with a successful breakout potentially leading to a rise towards $120,000

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Senate votes to move forward on landmark stablecoin legislation known as the 'Genius Act' – the bills next steps here

• Jamie Dimon will allow the firm to buy crypto but does not want JPMorgan to take on custody responsibilities (TB)

• Bitcoin has officially recorded its highest-ever weekly candle close, finishing the week at $106,516 (BM)

• Coinbase confirms it is working with the DOJ in official hack investigation (TB)

• Michael Saylor hit by a class action lawsuit regarding federal securities law violations – here’s a breakdown of the allegations here

• A new Bitcoin Improvement Proposal seeks to rebrand the top cryptocurrency's base unit 'satoshi' to something more non crypto friendly (DC)

• Drama ensues between Ripple CEO Brad Garlinghouse and Senator Cynthia Lummis over a cancelled meeting (BG)

• Ripple signs two more massive payment system customers in UAE expansion (CD)

• Tornado Cash dev Roman Storm's defense team wants to know if the DOJ is withholding any information that may help the Tornado Cash developer's case (CD)

• Anza Solana developer studio publishes whitepaper on Alpenglow to improve speed and scalability for core protocol – read full whitepaper here

• Chicago Mercantile Exchange sees $15M volume for newly listed XRP futures (CS)

• Leading crypto exchange BitMEX hints at partnership with Ripple (BM)

• Strategy spends $765M accumulating more bitcoin, nearing 580,000 bitcoin treasury (TB)

• SEC delays Bitwise and 21Shares Solana ETF applications (TB)

• Metaplanet nears 8k BTC holdings after $104M purchase this week (TB)

• Ethereum co-founder Vitalik Buterin has submitted a new proposal to make the blockchain network’s nodes more efficient and accessible (CS)

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Launches

• Pudgy Penguins kicks off launch for Telegram game 'Pengu Clash' (BW)

• Bybit has launched a feature enabling users to trade 78 major global stocks directly with USDT becoming the first major cryptocurrency exchange to offer such a service (TD)

• BitMine launches new Bitcoin Treasury Advisory Practice and secures a $4M deal with its first client (BM)

• The publicly traded Bitcoin financial services company Fold has recently announced its 'Fold Bitcoin Gift Card' (CN)

• SOON rollup launches on mainnet and commits 8% of token supply to airdrop following $22M NFT fundraise (TB)

• Zand Bank, Mamo, and Ripple partner to launch cross-border payments system in UAE (CT)

Regulation

• $640M of Bitcoin capital gains tax could be refunded from an upcoming Australian court decision (CT)

• SEC Chair Paul Atkins reemphasizes unified framework for crypto regulation ending harsh crypto enforcement (CS)

Cybersecurity

• Former Head of Russia at Binance arrested in connection to fraud case (CD)

• Chinese printer manufacturer Procolored distributed Bitcoin-stealing malware alongside its official drivers (CT)

• European authorities arrest 17 individuals to take down $23M crypto banking scandal (DT)

• AI-generated deepfake scam utilizing Polygon’s founder Sandeep Nailwal targets tech startups (CS)

• All Stars Elite whitehat program started by ImmuneFi will bring together the best web3 researchers and blockchain auditors for rising cybercrimes (TB)

Extra Reads

• US President Donald Trump is expected to host up to 220 people who had purchased the most significant quantities of his memecoin at a private event in Washington, DC – here’s what might be going down

• 'Vibe coding' is a phrase that has caught fire – a breakdown of the rise of vibe coding on Solana

• Amid the shifting regulatory landscape, crypto firms are expanding their US footprint and ramping up hiring across policy, compliance, and go-to-market roles – here’s a look at the crypto hiring landscape

Chart of the Day

DeFi activity surges with Arbitrum chain seeing largest net 7 day inflow

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