In a delightfully reassuring post, GMGN’s co-founder Haze—the self-proclaimed savior of the innocent—announced that, in light of the increasing malicious attacks (courtesy of those devilish Maximal Extractable Value bots), they’ve installed a shiny new MEV protection feature. No doubt this will protect us all from the wolves of the crypto wilderness. 🦊
On a blustery Wednesday, Associate Justice Minister Nicole McKee—who probably does not own a golden ticket, nor a crypto wallet—announced that the government would “expand police powers” with new laws to tackle the crime parade. Sounds serious, but if you squint you might imagine her wielding an Oompa-Loompa-sized mallet to bop money-laundering scoundrels on the noggin. She promises: “We’re hunting down every last dodgy dollar, and crypto crooks won’t know what hit ’em!”
According to data from crypto.news, Cardano (ADA) was trading at $0.58, marking a 6.6% gain over the past week that pushed its market cap over $21 billion.
In a CryptoQuant Quicktake post, an analyst has talked about the latest trend in the Binance Exchange Reserve for Bitcoin and the stablecoins. The “Exchange Reserve” here refers to an on-chain metric that keeps track of the total amount of a given asset that’s sitting on the wallets attached to a centralized exchange.
First up: Song Kum Hyok, a North Korean national with more secret connections than a New York City subway map. This guy’s linked to the Reconnaissance General Bureau (think: North Korea’s version of Bond villains), and their cybercrime side hustle, Andariel. Song’s idea of a good time? Swiping U.S. citizen info, creating fake IDs, and handing out remote IT jobs to his buddies, mostly in crypto firms. I mean, it’s an employment agency and an episode of “Catch Me If You Can,” all rolled into one! 🎭
Market makers: part magician, part accountant, fully committed to making your crypto dreams as stable as a table with three legs and no instruction manual. They’re the ones pinning BTC between $108K and $110K like a dollar-store Joan Rivers on the red carpet, according to some tea spilled by Deribit and Amberdata (yes, it’s a thing, don’t ask). Their trick? Buy low, sell high, repeat ad infinitum until everybody forgets why they cared in the first place.
In a move that can only be described as “surprising” (perhaps to the point of causing a few double-takes), the SEC dropped new disclosure guidance for crypto-related exchange-traded products. Translation: the agency’s thinking about saying “yes” to those long-overdue ETF applications. You know, the ones for Solana [SOL], XRP, and even those Trump-themed memecoins that make us all question our life choices.
Brad Garlinghouse, the CEO of Ripple, is trading in his lawyer’s hat for a Senate testimony gig. On July 9, he’ll be telling the U.S. Senate that XRP is not, in fact, a security (no, really, it’s not 🙅♂️). He’ll also casually mention that Ripple has over 60 global licenses, because who’s counting, right? 🤷♀️ And, of course, he’ll be lamenting the fact that U.S. crypto policy is forcing innovation to sail off into the sunset (or at least to more crypto-friendly shores 🏖️). The hearing, aptly titled “From Wall Street to Web3,” will be the perfect opportunity for Garlinghouse to urge Congress to get its crypto act together. After all, as he so eloquently puts it, “Money should move like information and XRP is the key” 🔑. This could be the turning point for Ripple, placing XRP firmly at the center of crypto legislation debates.
XRP price started a fresh increase after it settled above the $2.2620 level, beating Bitcoin and Ethereum. It’s like the underdog of the crypto world decided to have a moment in the sun. The price was able to climb above the $2.280 resistance level, much to the surprise of everyone, including the price itself.
Recently, top analyst (and part-time magician) Darkfost revealed the kind of numbers that would make an accountant faint: ERC-20 stablecoin supply hit a jaw-dropping $121 billion. That’s a lot of stability! At this point, stablecoins are so “reliable,” even my ex trusts them. Take that, market volatility!