Crypto-related stocks rallied alongside digital assets amid renewed U.S.-China optimism. Jack Mallers was announced as the head of a new Bitcoin treasury company backed by Tether and Softbank, which is launching with over 42,000 BTC. Bitcoin ETFs saw robust inflows nearing $1 billion, largely driven by BlackRock’s IBIT. In the meme coin space, TRUMP and MELANIA tokens surged following new perks for top holders. Bitcoin itself soared past $94K before a slight pullback.
Crypto-Linked Tickers Jump on US-China Optimism
As digital tokens glittered on Tuesday, equities tethered to the sector followed suit, with Coinbase ending the session… read more.
Editor’s comment: I’d be cautious about the level of enthusiasm markets have exhibited around a U.S.-China resolution.
Jack Mallers to Head New Tether and Softbank Funded Bitcoin Treasury Firm
The firm will launch with more than 42,000 BTC on its balance sheet, worth nearly $4 billion at current prices, and will seek… read more.
Editor’s comment: Yet another company getting into the bitcoin treasury game, this time a company specifically created for it!
Bitcoin ETFs Attract Nearly $1 Billion in New Capital
Bitcoin ETFs added another $917 million in inflows, driven largely by Blackrock’s IBIT and continued investor enthusiasm… read more.
Editor’s comment: Bitcoin spot ETFs do great, but ether spot ETFs struggle. It appears there is no second best.
TRUMP and MELANIA Meme Coins Surge
Following the announcement on Donald Trump’s meme coin portal that the top 220 holders will have the opportunity to dine… read more.
Editor’s comment: The Trump token team looks to be trying to add value to the token. If they’re able to do so, the token could continue to rise, or at least not fall much.
Bitcoin Cracks $94K as Correlation With Stocks Fades
The cryptocurrency surged past $94K on Wednesday morning before retreating to $93K and has shown signs of decoupling… read more.
Editor’s comment: Much has been said about Bitcoin’s decoupling, even Graham and I weighed in on the topic in this week’s Token Narratives. I’m skeptical it’s happening right now.
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