Memecoins Steal The Show

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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

  • MoonPay officially introduced MoonPay Balance, a new payment tool enabling users to store and spend fiat balances on MoonPay (CD)

  • Digital assets platform Fireblocks signed a ‘Memorandum of Understanding’ with NongHyup Bank, a large South Korean bank, to launch a prototype for tax refunds (CT)

Venture Capital

  • Zero Gravity Labs raised $40M in seed funding from crypto investors including Hack VC, Delphi Digital, and OKX Ventures, to develop a decentralized AI operating system (CD

  • $115M AUM crypto fund Hyla Fund Management is launching a $30M crypto fund focused on Latin America (CD)

Regulation

  • Lower House approved bill regulating crypto asset brokers (VI)

  • Trump could clear hurdles for Circle and Kraken to go public: ARK Invest (DC)

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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