2024-06-07

Author

Fernando Fierro
June 07, 2024

Howdy folks,

🔷📈 The "Stand with Crypto" advocacy group just hit a milestone, amassing one million members.

Led by Coinbase CEO Brian Armstrong, this movement is championing pro-crypto policies ahead of the U.S. elections. The group's rapid growth, particularly in states like Georgia and Arizona, highlights the crypto community's increasing political clout.

In other news:

💼📉 Coinbase experienced a significant Bitcoin outflow of $500 million, linked to the rising popularity of Bitcoin ETFs. Institutional investors now favor ETFs for Bitcoin exposure, shifting capital away from exchanges.

This trend suggests a transformation in how institutions engage with the crypto market, possibly reshaping exchange activity.

🌟🔗 Celebrity crypto tokens are booming, with figures like Iggy Azalea launching their own tokens.

Despite their popularity, concerns over scams and pump-and-dump schemes are rising. Ethereum's Vitalik Buterin and other insiders have voiced their concerns, questioning the utility of these celebrity-endorsed tokens.

💣🏦 Hulk Hogan's Solana meme coin recently crashed, wiping out $17 million. Hogan denies involvement, but the incident highlights the volatility and risks associated with celebrity-backed tokens.

This rug pull is part of a broader trend of celebrity crypto ventures going awry, prompting calls for greater scrutiny and regulation.

DailyCoin Daily Meme

How Polygon (MATIC) Brings the Cloud to Builders With Fleek

Polygon has joined hands with Fleek in a move that promises to allow projects to cut costs, reduce latency, and improve user experience. Read more on DailyCoin.

Binance Enables Mastercard Payment as It Restores Card Feature

Binance has re-enabled its Mastercard payment option, allowing users to make easier asset purchases.

Kraken Prepares to Raise Over $100M Ahead of IPO

As market conditions improve, Kraken's passion for going public has resurged. The exchange is potentially looking to raise more capital.

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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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