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⌐◪-◪ → FriendTech v2 went live overnight and so far it’s been a dumpster fire.

Why you might ask, well…

• they launched in the middle of the night

• with one token in the liquidity pool

• the app is basically non-functioning

• people are unsure/unable to claim

As somebody who never signed up for Friend.Tech, I’ve gotta say it’s pretty entertaining to watch this all unfold on Twitter.

The best part is simply watching people claim their airdrops and how they react on-chain. Quality social experiment.

⌐◪-◪ → $4.8 trillion asset manager Fidelity says pension funds are exploring Bitcoin and crypto.

This comes on the heels of BlackRock, a $9.1 trillion asset manager, said the same thing.

Combine this with the fact that the US M2 money supply just registered its first positive shift since late 2022, and you have a pretty bullish situation for Bitcoin.

For reference, the last time the M2 increased, the Bitcoin bull market ripped.

Money printer go BRRR → US Dollar weakens → BTC goes up

⌐◪-◪ → Hong Kong-based asset managers report buying $112 million worth of US-based spot Bitcoin ETFs.

• $38M by Yong Rong

• $74M by Ovata

While these are the largest holdings by an asset manager in a quarterly filing so far, the move is a bit of a knock to Hong Kong’s new Bitcoin ETFs.

For context, Hong Kong just launched 3x Bitcoin ETFs on May 1st, which hold a total of 4,000 BTC ($246M) in AUM.

This is minuscule compared to the US, which boasts nearly $80B in total AUM across the 11x ETFs.

With that said, it’s still very early days for Hong Kong’s ETFs, and as they say…size isn’t everything.

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