BTC tests $62,000, how low can it go?
Bitcoin's 17% plunge from $74,000 to $61,556 in merely four days has triggered more than $4.47 billion in crypto liquidations. While some are pointing to the Iran war and MSTR selling BTC as reasons for the drop, there is perhaps a more compelling reason: capital rotation. With Anthropic filing for an IPO, OpenAI’s probably coming soon, and SpaceX going public in 8 days, it’s quite possible hundreds of billions dollars is beginning to move to cash to prepare. Read more →
Crypto devs get a PAC
A new political group called Defend Developers PAC launched this week to support lawmakers who back legal protections for crypto developers, DeFi builders and blockchain technologists. The issue has become a sticking point in the Clarity Act debate, with crypto advocates arguing developers should not be held liable for how others use open-source software, while law enforcement groups worry broad protections could make bad actors harder to prosecute. The PAC plans to raise and spend more than six figures across dozens of midterm races, focusing on incumbent members of Congress already involved in shaping crypto policy. Read more →
Coinbase launches SpaceX Pre-IPO perpetual futures
Coinbase is jumping into the pre-IPO market announcing today the launch of perpetual futures contracts tied to SpaceX. Settled in USDC and available 24/7 with up to 5x leverage, the contracts will allow traders to gain price exposure to private companies before they officially list on Wall Street. Read more →
📥️ Want to advertise in CoinSnacks? Learn More