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Here's a quick preview of today’s content: JPMorgan begins their crypto journey, A UK asset manager made $300M+ in 1 week with ETH, eToro has a explosive IPO trading day, cartel drug profits are being laundered through crypto, a lobbying firm is onboarding a US regulator, and so much more. 

It’s almost Friday and it’s almost Altcoin Season 😉 let’s dive in

Market Snapshot

• Altcoins outperformed as Bitcoin approached resistance, triggering capital rotation

• ETF flows into BTC and ETH suggest deeper institutional involvement

• Overall market sentiment is optimistic, with signs of further upside if resistance levels break

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

• JPMorgan Chase settled its first transaction on a public blockchain this week on using Ondo Finance and Chainlink – here’s the how it happened

• Crypto and stock trading platform eToro jumps 29% on first trading day on the Nasdaq (TB)

• U.S. spot bitcoin ETFs end 4 day streak and peak inflows with $96.1M net outflow on Tuesday (TB)

• 27 year old chairman of Cantor Fitzgerald personally verified Tether reserves before partnering with the firm (CD)

• Coinbase and marketing firm Marden-Kane decide to pay $2.25M settlement for Dogecoin sweepstakes lawsuit (DT)

• Lyft rideshare platform confirms it is working with Solana-powered Bee Maps for decentralized mapping data (DT)

• JPMorgan shows off innovative web3 use case with first transaction on a public blockchain, Ondo, by means of Chainlink (DT)

• MetaMask founder says a native token is not entirely off the table for the wallet (TB)

• Abraxas Capital withdraws $399M from exchanges in 3-day period after 220k+ Ether purchase last week (DF)

• A tech company with close Chinese ties raises $300M of private capital to purchase TRUMP token (CS)

• Standard Charter to provide crypto offerings to FalconX clients through established strategic partnership (TB)

• A recent report indicates that a majority of UK bitcoin holders have never sold the asset (BM)

• Andrew Peel, formerly head of digital assets at Morgan Stanley, leaves to launch tokenization startup (TB)

• Brian Armstrong offers fast-tracked hiring for former DOGE employees as Coinbase (CD)

• Burger chain Steak ‘n Shake prepares to accept bitcoin payments next week – watch the video of how they are launching this here

• The Blockchain Association brings on CEO Summer Mersinger as he plans to step down from CFTC Commissioner role (TB)

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Venture Capital

• Pi Network Ventures announces $100M to spark ecosystem growth through startups (CN)

• KYD Labs has $7M seed round led by A16Z to disrupt event ticketing with blockchain (CD)

Launches

• 7,000+ new prediction markets launched in April on Polymarket in historic month (TB)

• Pixelmon establishes exclusive deal with the Avalanche blockchain for Warden’s Ascent two mobile app launches (DT)

• Bitcoin Magazine unveils the latest edition of exclusive Bitcoin Crocs – check out the shoe design here

Regulation

• Trump and his cabinet are still on pace to sign crypto legislation by August according to Bo Hines (CD)

• U.S. Treasury Secretary receives demanding letter from House Democrats to reveal all ‘Suspicious Activity Reports’ on Trump-tied crypto ventures (TB)

Cybersecurity

• Leaders of a Sinaloa Cartel faction indicted in California under narco-terrorism statutes with ties to crypto (DT)

• Executives from collapsed firm Cred plead guilty to $150M crypto scheme facing up to 6 year prison sentence (DT)

• Telegram discovers an $8B Chinese illicit crypto marketplace based in Colorado (CD)

Extra Reads

• Robinhood's $179M WonderFi deal has the potential to boost revenue by 10%, analyst says – here’s why

• Ethereum has soared over the past 7 days – here’s why

• The Ethereum Foundation has launched the 'Trillion Dollar Security' initiative – here’s the full rundown here

Chart of the Day

Bitcoin Dominance continues to near 60%, a previous market indicator of ‘altcoin season’

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