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  • 5/28/24: Movement On The Mountaintop 🏔️🇬🇧🗳️

5/28/24: Movement On The Mountaintop 🏔️🇬🇧🗳️

Author

Valko
May 28, 2024

Top News

  1. Mt. Gox moves $9B BTC in preparation to pay back creditors

  2. Bitcoin ETPs begin trading on the London Stock Exchange

  3. 33% of US voters will weigh candidates’ views on Bitcoin

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Specs’ Breakdown

1. Mt. Gox moves $9B BTC in preparation to pay back creditors

⌐◪-◪ → Mt. Gox just moved over $9B Bitcoin to an unknown wallet in preparation to pay back creditors ahead of their Oct. 31st deadline.

For context: this is the first time Mt. Gox has moved funds in 5 years.

This was confirmed by Mark Karpeles, the former Mt. Gox CEO and current trustee of the Mt. Gox estate.

While the markets are spooked due to the implied sell-side pressure, I’m not that worried. — I just see this as another opportunity to accumulate more BTC.

2. Bitcoin ETPs begin trading on the London Stock Exchange

⌐◪-◪ → Today the London Stock Exchange launched its first Bitcoin exchange-traded notes (ETNs) from WidomTree and 21Shares.

This comes after last week’s green light from the Financial Conduct Authority (FCA).

While the ETNs are currently only accessible to professional investors under the FCA rules, the head of 21Shares is optimistic the ban on retail will be lifted soon.

This is a major milestone for Bitcoin as the UK is one of the deepest, most liquid capital markets in the world.

Gradually, then suddenly.

3. 33% of US voters will weigh candidates’ views on Bitcoin

⌐◪-◪ → A Harris Poll paid for by Grayscale concluded that:

→ 33% of voters will weigh candidates’ views on crypto
→ 77% of voters think candidates should know about crypto

For context: that’s over 80M potential votes leaning toward Trump.

Meanwhile, Trump’s lead over Biden on Polymarket has widened, with their respective chances of winning at 56% and 37%.

Love or hate the guy, if crypto is a priority for you — then Trump is the obvious choice.

The first Bitcoin election is here.

Everything Else

⛓️ Crypto & DeFi

  • Vitalik’s EIP-7702 proposal to go live in next ETH upgrade

  • Notcoin touches $1B market cap after 'earnings missions' Launch

  • Solana passes proposal to give validators 100% priority fees

  • SWIFT to co-present with Chainlink at Consensys, $LINK surges 10%

  • Trump’s crypto wallet hits 10M in value, mainly driven by $TRUMP

  • Uniswap Foundation shares balance sheet as fee vote nears

  • Floki developers launch Telegram-based trading bot

  • Polkadot-backed Indy 500 racer Conor Daly secures top 10 finish

🏦 Wallstreet & VC

🏛️ Legal & Regulatory

  • Trump’s lead over Biden widens on Polymarket, 56% to 37%

  • JPMorgan doubts the SEC will approve a Solana ETF

🌎 Rest of the World

  • Hong Kong SFC to conduct on-site inspection for 18 license applicants

  • Binance sells South Korean affiliate’s Genesis claims at steep discount

🖼️ NFTs & Metaverse

  • Memecoins $DOGE, $FLOKI, $WIF surge as Gamestop jumps 19%

  • ChatGPT memecoin $TURBO surges 1,460% over the past 30 days

  • Luca Netz bets Pudgy Penguins can hit $100k floor in 12 months

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