Institutional Greed vs. Retail Fear

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Welcome to the Crypto Scroll. web3, defi, and crypto news in just one quick scroll. We do the homework so you don't have to.

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gm Scrollers,

Monday and Tuesday combined to a rough start to the week, so we hope your Wednesday treats your wallets much better 🤗

Retailers sold heavy bags Monday and Tuesday while institutions raced to pick up crypto as markets tanked. Plus: Updated info. on BTC ETF inflows; Binance’s $87M tax in India, Ronin Network hit by $12M exploit; and memecoins lead the market rebound 🤡

Until Friday, KEEP ON SCROLLING ⛓

• BTC dropped below $50K for the first time since February (CNBC)

• $1.2B was liquidated from crypto markets in 24 hours on Monday (@WatcherGuru)

• Arkham Intelligence data shows that Blackrock and Fidelity are not selling Bitcoin positions despite major crash (@BitcoinMagazine)

• Bitcoin ETF trading volume surpassed $2B yesterday (BW)

• Capula Management, Europe’s 4th largest hedge fund, discloses $500M of BTC ETF holdings (WG)

• How Japan sent global markets tumbling (TD)

• Justin Sun wants to save crypto with $1B fund (TD)

• Andrena scores $18M led by Dragonfly for a decentralized internet (AX)

• Polygon Ventures, Animoca, Spartan Group and others back web3 entertainment gaming startup Redacted with $10M investment (FMSE)

• Curio raises $5.7M in seed funding for gaming studio TB)

• OKX CVC launches $10M web3 and crypto fund with Aptos (GV)

• U-Topia solidifies partnership with Web3 VC Yellow Capital (CREP)

• Gate Ventures and ACG World collaborate for Web3 Vision VCxIP summit in Tokyo (MBI)

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• Xapo Bank in the UK to bring interest-bearing Bitcoin bank accounts to customers (BLOCK)

• Saudi Arabia is becoming a top destination for web3 tech entrepreneurs as it turns into the ‘digital oil’ industry (CPOL)

• Donald Trump says crypto is a new type of currency that if USA doesn’t lead, China will (@WatcherGuru)

• Binance hit with $87M tax bill in India (NB)

• Hackers return $12M stolen funds to Ronin network following MEV exploit (DT)

• Nexera, a DeFi protocol, hacked for $1.5M+ NXRA tokens via proxy contract exploit (CTI)

• Atari blockchain game reportedly hacked by developer to prove it was not truly on-chain (CT)

• Unstoppable Domains has record breaking hackathon with web3 and AI in the spotlight (PRN)

• Hackers capitalize on market crash to buy discounted ETH (TD)

• Fraudulent activity and hacks increase 112% in Q2 according to Immunefi report (NB)

• India-based fund CoinDCX launches $6M investor protection fund tied to WazirX $235M hack (CD)

• Deeper dive on SEC charges to BitClout founder Nader Al-Naji (CPOT)

• ETH slides 20% with big firms moving funds (CD)

• A wallet reportedly controlled by U.S. government transfers 300 ETH from seized funds to a different wallet (CT)

• Multiple dormant ETH wallets are transferring massive amounts of ETH, over $1B (@lookonchain)

• Jump Crypto unstakes $315M of ETH (CT)

• SOL/ETH ratio reaches new all-time highs (CT)

• Vitalik responds with opinions on cross-L2 interoperability (BLOCK)

• Number of new ETH addresses plunges to lowest level this year (TB)

• Solana memecoin DJT tanks 99.9% in apparent rugpull (@DegenerateNews)

• Stablecoins survive stress test amid extreme volatility (TD)

• Grayscale BTC Trust holdings dropped 55% in first half of 2024 (D)

• Coinbase accused of campaign finance violations (TD)

• Starknet Foundation CEO steps down (TB)

• Binance sees one of biggest trading days in 2024 with $1.2B+ inflows yesterday (CT)

• Solana rebounds 35%+ with memecoins driving activity (CD)

• Grayscale is launching new investment trusts for SUI and TAO (BLOCK)

• Institutional investors scooped up billions in crypto yesterday while retailers sold aggressively (YF)

• What Kamala’s appointed running mate means for U.S. outlook on crypto (WG)

• How crypto was part of the financial wrecking from Bank of Japan (CT)

• Dissecting the intersection of AI and crypto (M)

• What this data-driven marketing platform is doing with web3 under one roof (CT)

• Blockchain can reduce airline costs by 7% (CT)

Now we need a Big Pump 🚀

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