Mando Minutes

Things I’m looking at today…

Crypto

• Majors weak, were down 3-5% but have bounced

• Bitcoin daily RSI hits lowest level since Covid

• Base L2 transactions outpace ETH, Friend Tech crosses 100k users

• Balancer vulnerability causes $150m outflows

• Binance deal with Moonpay for US on-ramp to USDT, $BNB up 5%

• Binance Russian money laundering links lead to speculation of DoJ intervention

• Bitcoin core dev reignites side-chains debate

• ETH staking in focus, $18bn ETH now in LSDs

• Eigen Layer fills 100k limit for ETH staking in hours

• DWF and Wintermute move $CRV to Binance despite hand-shake "lock-up" agreement

• Tether burns $1.2bn $USDT on Tron (more $USDT is on Tron than ETH)

• Thailand plans 10k Bhat crypto "airdrop" to citizens

Macro & General

• Stock futures higher ahead of Nvidia earnings today

• Weak PMI data causes rates to fall from recent highs

• Global stocks set for worst month since Sep 2022

• BRICS summit begins, lots of anti-US rhetoric

• Some Covid FUD as restrictions begin to re-emerge

• US existing home sales weakest since 2010

• US government shutdown likely to happen in 2023 due to budget disagreements says Goldman Sachs

• Trump would impose huge new tariffs if elected

• Republican candidate debate tonight, crypto policies in focus

NFTs & Low-Cap

• Most low-cap narratives rekt as majors fall

• $HMX up 15% as perp volumes outpace $GMX

• $UNIBOT dev says will be usable on Base this week, ATH in trading volume

• Whale buy $1m of BAYC, floor up to 24 ETH

• 75% of most major NFT collections haven't traded once this year despite crash

• Mercedes-Benz unveils next NFT project

• OpenSea employee jailed 3 months for insider trading

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