- Crypto Journal
- Posts
- 🚔️ Robinhood vs SEC
Today’s edition is brought to you by MEXC. A revolutionary exchange that let’s you trade new coins before they 100x.
Markets
Back to extreme greed past $65K? 5 things to know in Bitcoin this week (5 minute read)
Bitcoin kicks off the week after a strong weekend, reclaiming $64,000 after a solid rebound from last week's nosedive. Surging nearly $8,000, it's a slap in the face to recent lows. We can already detect greed is creeping back, but can this rally hit new highs?
With leverage flushed out, traders are eyeing sustainability. Exchanges paint a promising picture with neutral funding rates and tepid longing. The weekly close also looked bullish.
Grayscale's Bitcoin ETF Sees First Inflow After Billions Lost Since January (2 minute read)
The Grayscale Bitcoin Trust (GBTC) is getting a little love after a dry spell. There were finally net inflows of $63 million on Friday, the first uptick since January.
GBTC's been taking hits lately. With sky-high fees and fierce competition from new ETFs, it's been bleeding billions. Holding less than half its former Bitcoin.
SEC issues Robinhood Crypto with Wells Notice, citing alleged securities violations (2 minute read)
Robinhood Crypto just got slapped with a Wells Notice from the SEC, signaling trouble on the horizon. Accused of securities violations, the crypto unit's feeling the heat. Robinhood's not taking it lying down, though. They're firing back, claiming their assets aren't securities and gearing up for a legal showdown. This isn't their first tango with the SEC either, having faced investigative subpoenas last year. With Bitcoin, Ether, Dogecoin, and even Shiba Inu in the mix.
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Misc
Less Than 10% of Stablecoin Transaction Volume Coming from Real Users: Report (3 minute read)
Visa and Allium Labs reveal that less than 10% of the $2.2 trillion April transactions in stable coins are legit, with just $149 billion coming from real folks. Tether and USD Coin hog the spotlight, commanding 97% of the market.
While bots and big-time traders dominate the scene, monthly active users are still on the rise, hitting 27.5 million.
The future of tokenization? Permissioned blockchains (3 minute read)
BlackRock's $100 million Ethereum bet sparks excitement about institutional tokenization on public blockchains. While BlackRock's move signals trust in public networks, the reality is most institutions still choose private blockchains.
Companies like JPMorgan and Goldman Sachs have been dabbling for a while. BlackRock's leap to Ethereum is a headline-grabber, sure, but private platforms still reign supreme.
Our Recommendations:
💻️ MEXC - Where we find and trade new coins with low fees
📈 TradingView - Software we use to chart Crypto.
🔐 Trezor - Our favorite hardware wallet to keep our Crypto secure.
🦑 Kraken - Where we buy crypto with cash / withdraw profit to our bank.
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