Back Up And Running? 🪁
Back Up And Running? 🪁
Signs of recovery after a slowdown last week? Grayscale confident of Ether ETF approval. SEC seeks $2B in Ripple case. SEC calls Terraform Labs a house of cards. Biden’s parody token on Solana.
Hello, y'all. If you think you know your music, then this is for you frens. A complete go. Check out 👉 Asset - Music Nerd
This is The Token Dispatch 🙌 you can hit us on telegram 🤟
After a week of volatility, Bitcoin is back above $70,000.
A 6% hike.
Just 27 days before the halving.
Ethereum and Solana are also excited for the bull run.
ETH up 5% - $3,624
SOL up 3% - $193
Who else?
Coinbase also reaped the benefits on March 25 - 9% surge.
Hit a high of $283.
Up 336% over the past year.
Coinbase isn't at its peak yet, though. Their all-time high was nearly $343 in November 2021.
Bitcoin reserves on Coinbase? Hit a 9-year low.
Bitcoin reserves on all exchanges are at a 3-year low.
Read: How long can GBTC keep dumping Bitcoin? 🥟
Thanks to ETFs?
Another Halving Effect? exodus of old US mining computers abroad:
Outdated machines will be refurbished and sold to buyers in low-cost energy areas.
Luxor estimates that around 600,000 S19 bitcoin rigs are moving primarily out of the U.S. to places like Africa and South America, where energy is cheaper.
Countries like Ethiopia and Paraguay are becoming new players in Bitcoin mining.
Block That Quote 🎙️
US Securities and Exchange Commission (SEC).
“Terra was a house of cards”
SEC presents Terraform Labs as a fraudulent empire in civil trial (U.S. District Court for the Southern District of New York).
Alleges Terra and co-founder Do Kwon orchestrated a multi-billion dollar crypto asset securities fraud.
Do Kwon, co-founder of Terraform Labs, was absent from the trial due to ongoing legal issues in Montenegro.
Grayscale Bullish On Ether ETF
Despite the worries that the SEC hasn't been talking much to applicants.
Grayscale's legal chief, Craig Salm, says the SEC already dealt with similar issues when approving Bitcoin ETFs. So, they shouldn't need much more convincing for Ether ETFs.
Read: Thread by Craig Salm, Grayscale Chief Legal Officer
In the Numbers 🔢
$2 billion
The SEC just threw down the gauntlet in the ongoing Ripple lawsuit, demanding $2 billion in fines and penalties from the company.
Ripple's chief legal officer, Stuart Alderoty, isn't taking this lying down. He accuses the SEC of "wanting to punish and intimidate Ripple" and plans to fight back.
Ripple CEO Brad Garlinghouse calls the fine "unprecedented" and promises to expose the SEC's tactics.
Solana's Memecoin Mania Isn't Slowing Down
The latest to join the party is Jeo Boden (BODEN) - a memecoin parody of US President Joe Biden.
Market Cap surged to $250 million.
Launched on March 9, BODEN surged 54% in just 24 hours as of March 25
Currently 262.5% up in the last 7 days.
The Surfer 🏄
Spain suspends Telegram: Spain's top court temporarily suspended Telegram after media giants accused it of copyright infringement. The move, effective March 25th, targets the country's 4th most popular messaging app, used by nearly 19% of Spaniards.
Worldcoin, the project offering crypto for iris scans, is halted in Portugal for 90 days due to data privacy concerns. Over 300,000 Portuguese citizens have already scanned their eyes with Worldcoin.
Curio Hack: Hacker exploited a voting power flaw in Curio's smart contract, stealing $16 million and minting 1 billion fake tokens. Curio will compensate users with a new token (CGT 2.0) and aims to recover all stolen funds.
If you like us, if you don't like us .. either ways do tell us✌️
If you dig what we do, show us love on Twitter, Instagram & Threads🤞
So long. OKAY? ✋