07-08-2024

Author

Fernando Fierro
August 07, 2024

Howdy folks,

💰📈 Metaplanet is significantly boosting its Bitcoin holdings with a new plan to acquire BTC worth $69.6 million, funded by a ¥10.08 billion Gratis Allotment of Stock Acquisition Rights. Despite the recent dip in Bitcoin prices, the company believes in its long-term value and potential to hedge against yen depreciation.

Metaplanet's broader strategy includes leveraging Bitcoin through covered call options and transforming its hotel business to serve Bitcoin enthusiasts.

In other news:

📉💰 Bitcoin ETFs have seen notable outflows, losing $168 million amid the recent crypto market turmoil. Leading the outflows were Grayscale’s GBTC and mini ETF BTC, while major issuers like Fidelity and ARK 21Shares followed suit.

Despite the downturn, Morgan Stanley plans to recommend Bitcoin ETFs to wealthy clients, marking a significant shift in policy, while Ethereum ETFs witnessed major inflows, reflecting hopeful market sentiment for recovery.

🔥📉 The recent market crash tested the resilience of both traditional financial platforms and blockchain networks, with the latter faring better. Solana, despite past network outages, remained robust while major banks like Schwab and Fidelity experienced significant downtime.

The crash highlights the ongoing debate over the reliability of blockchain versus traditional financial infrastructures during periods of high volatility.

🕵️‍♂️💥 Investigative YouTuber Coffeezilla faces a defamation lawsuit from Logan Paul after probing Paul's controversial CryptoZoo project. Coffeezilla contends the lawsuit aims to silence his ongoing investigation into Liquid Marketplace, another Paul co-founded venture.

Meanwhile, the Ontario Securities Commission (OSC) has opened an investigation into Liquid Marketplace, alleging multi-layered fraud and misuse of $5.7 million in investor funds.

DailyCoin Daily Meme

Ether ETFs See Second Highest Inflow Day Despite Market Crash

Instead of discouraging investors, the recent market crash appears to have incentivized ether ETF investors.

Crypto Crash Sparks Justin Sun’s $1B Anti-FUD Initiative

Justin Sun unveils $1B fund to combat crypto FUD amid market crash, echoing Binance's post-FTX recovery initiative.

U.S. Govt Moves ETH Worth $700K: Another Sell-off Panic?

The U.S. government stirs concern with an ETH transfer amid a recent market crash.

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DISCLAIMER: The content provided does not constitute financial advice. This newsletter is purely educational and should not be considered as investment advice or a recommendation to buy or sell any assets or make any financial decisions. Please exercise caution and do your own research.

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