1. BEER once fell 80%, and insiders may have cashed out more than $15 million
Insiders/teams may control more than 50% of the supply. Suspected insider address clusters such as Ba1rZt…yVhiTo, 2MLQtr…qzMGmg, GcFPrQ…89C8CGc and 9xxHpC…uEURcJ have all made millions of dollars by selling single addresses at the top, and some addresses such as CTL62f…ZqbFaX have sold and repurchased and speculated that Bybit Perpetual may be used to manipulate prices. Wazz said that the wallets shown in the picture alone sold a total of $15 million during the sell-off in the past few days, and the actual number may be 2-3 times higher because there are more wallets that sold their tokens for hundreds of thousands of dollars.
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2. QCP Capital: Gensler expects approval of spot ETH ETF to occur in late summer
QCP Capital wrote that despite the strong performance of the US stock market, BTC still has difficulty recovering after the FOMC meeting. This is because BTC miners are experiencing a setback period after the halving, which directly suppresses the price. There will be no immediate major changes in ETH, and Gensler expects the approval of the spot ETH ETF to occur in late summer. Now is an ideal time to make accumulation transactions in advance, especially for ETH.
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3. SlowMist @evilcos: Be aware of the risks associated with cryptocurrency funds
Recently, we have received several requests from victims of U-coin freezing. All of them are outsiders of the cryptocurrency industry. After investigation, we found that the U-coins we received were related to the pig-killing case, and were frozen on the chain by law enforcement. This kind of freezing will not be discovered until it is about to be transferred out, and as a result, you will "passively" become a member of the U-coin laundering process, and the so-called decentralized anti-censorship cryptocurrency will also be frozen. Please pay attention to this risk, and the funds you receive may have associated risks.
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4. Paradigm announces it has raised its third $850 million venture capital fund
Paradigm announced that it has raised its third $850 million venture capital fund, focusing on early-stage crypto projects. Paradigm was founded in 2018, and co-founder Matt Huang said that his belief in the importance of crypto technology has become stronger over the past six years. Paradigm will continue to focus on early work through its entrepreneur-in-residence and incubation programs, and plans to promote the development of more open source projects in the next few years.
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5. Swiss Financial Market Supervisory Authority announces closure of cryptocurrency-related FlowBank
The Swiss Financial Market Supervisory Authority (FINMA) announced the closure of cryptocurrency-related FlowBank and the initiation of bankruptcy proceedings. FINMA said FlowBank's minimum capital requirements had been "seriously and significantly breached" and the bank was currently at risk of insolvency with no prospect of restructuring. Founded in 2020, FlowBank has strong ties to crypto asset manager CoinShares, which bought a 9% stake in the bank in 2021. All FlowBank pages are now redirected to letters informing customers of the bank's closure, and its Twitter account has been deactivated.
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