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Memecoins Steal The Show
Good Morning,
Here's a quick preview of today’s content: Countless memecoins were listed on major exchanges sending the speculative markets into a sheer frenzy, Trump anointed Musk and Vivek as leaders of the 'DOGE' movement, Binance sees record breaking inflows, Tensor teases a social trading app, and more
Happy Thursday Let’s dive in.
Before The Bell
As of 10/22/2024. Data per CoinMarketCap.
Market Snapshots
Memecoins stole the show after Bitcoin finally rested after a week of breaking all time highs - Bitcoin is still hovering around high 80s and didn’t do much in the day
PEPE got listed on Coinbase and Robinhood which allowed it to fly to all time highs, even breaking a $10B market cap
PNUT continues to defy gravity after being listed on Binance - the coin currently sits at a $2B market cap
Other major memecoins, such as POPCAT, are rising as traders try to front run the next potential token coming to Coinbase - rising well over 35% at one point in the day
Headline Roundup
The major headlines driving crypto markets
Polymarket CEO Shayne Coplan had his home raided by the FBI (CD)
Robinhood added Solana, Pepe, Cardano, and XRP to its cryptocurrency offerings for US investors (CD)
VanEck launches a SUI network based financial product (CS)
BlackRock’s Bitcoin ETF climbs up top 1% in record-breaking 211 days (CS)
Uniswap Labs’ upcoming Layer 2 blockchain, Unichain, is in controversy as early developer access gets leaked (TD)
Trump appointed Elon Musk and Vivek Ramaswamy to lead a new government agency, the Department of Government Efficiency or simply 'D.O.G.E.' (CT)
Binance sees $7B inflow after US elections amid crypto rally (CS)
Solana’s Tensor teases social trading app to rival Pump.fun (DC)
Bitcoin’s correlation to gold dropped to an 11-month low (TB)
Coinbase CEO announces listing of Solana WIF and PEPE coin (TD)
The BlackRock USD Institutional Digital Liquidity Fund, which initially launched on Ethereum, is expanding to the Aptos, Arbitrum, Avalanche, Optimism, and Polygon networks (TB)
Canadian police identified a body found in a Montreal park as belonging to the 25-year-old cryptocurrency influencer Kevin Mirshahi (TB)
Japan’s Metaplanet reported a $28M jump in its Bitcoin holdings (DC)
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M&A Announcements
Digital asset financial institution Arca and crypto investment firm BlockTower Capital agreed to merge (TB)
Bitwise acquires Attestant in expanding Ethereum staking push (DC)
Arca and Blocktower Capital to merge into unified crypto platform (CT)
Coinbase acquired Utopia Labs to build out its on-chain payments infrastructure (CT)
Launches
Venture Capital
Regulation
Cybersecurity
South Korea arrested 215 individuals linked to a massive cryptocurrency investment scam ring that has defrauded victims of $232M (TB)
DeltaPrime sets deadline for attacker to resolve $4.8M hack (CN)
Key suspect linked to the $230M WazirX Hack arrested in India (BC)
DOJ seeks seizure of $16M in FTX-linked crypto following year-long probe (D
Extra Reads
Worth the watch: Content creator ‘Ginotheghost’ breaks down an unbelievable story of how an AI model launched its own crypto coin and made millions.
Watch video here
Chart of the Day
Below you will see the exact moment in time when the $PEPE Coinbase listing announcement was made
Meme Dump
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