5. Extreme Fear
This week, crypto’s Fear & Greed Index a hit 10, it’s lowest number on record since June 2022, when the Terra/LUNA & 3AC implosion rocked the markets. Bitcoin is now hovering around $84k, after falling all the way to $78k overnight. Did we find the floor!? To be determined, but this weekend’s price action will speak volumes.
4. Crypto Trading Platform BitMEX Is Looking for a Buyer
BitMEX, the infamous crypto and derivatives trading platform co-founded in 2014 by Arthur Hayes, is looking for a buyer according to CoinDesk. Crypto derivatives are so hot right now, with BitMEX not alone in looking for a buyer. As we covered in January, Deribit was rumored to be in talks with Kraken for acquisition at a ~$5 billion price.
3. Memecoins Get A Regulatory Pass
The SEC just declared that memecoins “aren’t securities,” effectively taking them off the agency’s enforcement radar. Officials say these tokens behave more like collectibles than investments, a shift that could open the door for more exchanges to list memecoins without fears of more lawsuits. Conversely, this also means that your degenerate trading habits aren’t protected by the federal securities laws. All systems go, team $TRUMP!
2. Trump Enters Metaverse
In your worthless news of the week, attorneys for President Trump have filed a trademark application for a “TRUMP”-branded metaverse that claims to offer immersive entertainment, economic, and educational experiences. Please, we beg of you, ignore anything that emerges from this.
1. BlackRock Adds Its Bitcoin ETF to Model Portfolio for First Time
The world’s biggest asset manager is finally allowing Bitcoin into its $150 billion model-portfolio universe. In model portfolios that allow for alternatives, the company is adding a 1–2% allocation of the iShares Bitcoin Trust ETF ($IBIT). An unthinkable move only a few years ago.