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- 6/3/24: Guess Who's Back 🐱🇺🇸⏸️
6/3/24: Guess Who's Back 🐱🇺🇸⏸️
Valko
June 03, 2024
Top News
Specs’ Breakdown
⌐◪-◪ → Roaring Kitty — the infamous r/WallStreetBets moderator who triggered the infamous GameStop frenzy — just posted on Reddit for the first time in 3 years, outlining a $180M bet on GameStop.
As a result, GameStop is up nearly 100% in pre-market. While his position has not been verified, here’s some napkin math on Roaring Kitty’s potential payouts, and what stock price he clears $1B in gains.
The great meme-stock era is here — poor Charlier Munger is rolling over in his grave.
2. Biden vetoes resolution to repeal SEC’s anti-crypto bill
⌐◪-◪ → President Biden vetoed the House of Representatives resolution to repeal the SEC’s anti-crypto bill, SAB 121.
This is the only pro-crypto bill to ever come across his desk, a layup for his legacy and re-election, and he killed it.
So much for the “significant shift” in tone towards crypto — all talk, no action.
This will cost him in November.
3. Linea pauses block production amid Velocore hack
⌐◪-◪ → Linea, an Ethereum L2 from Consensys, unilaterally decided to halt block production due to the Velocore DEX hack.
The news triggered massive backlash from the crypto community, with some stating Linea is clearly “not crypto” due to the clear lack of decentralization.
The broader issue is other L2s can do what Linea did, at least the ones with centralized sequencers.
The silver lining is that we’re about to see all the serious L2s race to decentralize their sequencers.
Everything Else
⛓️ Crypto & DeFi
Bitcoin recovers back to $70,000
Uniswap postpones vote for token staking and delegation rewards
Ethena’s 'synthetic dollar' USDe crosses $3B supply in 4 months
Velocore addresses $7M hack, offers hacker 10% bounty
Nostr users meet at BTC dive bar in NYC to discuss DeSo
Maple Finance launches Syrup, an institutional lending platform
Base network sees 500k new tokens launched since March
Polymarket did $62M in volume in May, proving product-market fit
🏦 Wall Street & VC
Tether buys $100M Bitdeer shares, with option to buy $50M more
Peter Brandt predicts BTC to rise 230% against gold in 12-18 months
'All In' podcast predicts Bitcoin could hit $500k by October 2025
VanEck, Franklin Templeton, Invesco file amended S-1s for ETH ETFs
Franklin Templeton reveals spot Ethereum ETF fee of 0.19%
ARK Invest no longer a partner with 21 Shares for ETH ETF
🏛️ Legal & Regulatory
Supreme Court decisions in NRA case may have crypto implications
Matter Labs drops 'ZK' trademark applications following backlash
Coinbase accuses SEC of 'purposeful effort to destroy' crypto
Binance founder CZ begins four-month prison sentence
FTX sells all Anthropic shares, bankruptcy costs surpass $500M
Trump partners with OpenNode to accept BTC lightning donations
SEC Commissioner Pierce says US should join UK regulatory sandbox
Coinbase donates $25M to Fairshake PAC, war chest at $161M now
Michael Saylor agrees to $40M settlement in D.C. income case
🌎 Rest of the World
Giant Bitcoin logo project on European Central Bank
Hong Kong lawmaker criticizes 'excessively stringent' crypto rules
Mexico's crypto stance unlikely to change with new female President
Australia’s first spot Bitcoin ETF to go live on Tuesday
Japanese crypto exchange DMM Bitcoin suffers $305M hack
OKX launches trading platform and wallet in the Netherlands
El Salvador’s Bukele begins 2nd term, stays committed to BTC
🖼️ NFTs & Metaverse
Magic Eden hits 51% market share in terms of daily NFT volumes
Yuga Labs faces backlash over legally enforcing 6% royalty
Cobie offers to buy CryptoPunks IP, Yuga declines offer
BitBoy One teases handheld gaming device for Bitcoin ecosystem
Arbitrum is about to unlock $250M in funds for Ethereum games
Ghostface Killah tweets picture of Bitcoin Puppet
🤑 Memecoins
Pump.Fun total revenues surpass $30M on Sunday
$TRUMP memecoin hits new ATH after post-verdict dip
Floyd Mayweather launches memecoin, then deletes tweet
$BRETT becomes first memecoin on Base to reach $1B market cap
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