Mando Minutes

Macro drop takes crypto lower, Germany selling nears end, Biden makes more gaffs

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Crypto

• BTC: 57.6k (-1%), ETH: 3100 (-1%), SOL: 138 (-4%)

• Top Gainers: XRP, TRX, XLM, MKR

• BTC ETF Flows: +$79m

• BTC & stocks recouple correlation to the downside

• Germany state has $300m BTC left to sell

• Genesis has sold $760m BTC in last month

• ETFs see 5 straight days of inflows

• Stablecoin market cap hits cycle high

• ETH ETF inflows ‘could hit $5-10bn’ in 2024

• Over $100bn of ETH now staked

• House fails to override Biden crypto veto

• Supreme Court softens SECs power in crypto

• SEC drops BUSD lawsuit, says it was mistake

• Crypto trading volume set to exceed $108T in 2024

• Coinbase criticised for wanting Gensler’s emails

• Nearly $2bn crypto options expire today

• Scaramucci’s SkyBridge limits client exits

• Compound CEO & CTO quit to create new project

• SquareSpace DNS attack harms crypto projects

Macro & General

• NASDAQ: 18.3k (-2%), Gold: 2400 (0%)

• PPI rises more than expected, US futures fall

• Tesla drops 8% after delay to robotaxis

• Yen bounces after suspected intervention

• S&P 500 ‘most overbought’ since late 2023

• S&P still trading at just 17.7x earnings

• US spent $140bn on debt interest in June

• Biden calls Harris ‘Trump’ & Zelensky 'Putin’ in gaffs

• Biden will take neurological test if doctors ask

• French parties scramble to form coalition

• US senators push to ban lawmaker stock trading

• AT&T hack exposed all calls & texts

• EU charges X with ‘deceptive’ blue checks

• X is building a ‘dislike’ button

• AI chips need to generate $600m to cover CAPEX

Left-Curve Corner

• Hot coins: MOB, BRO, FML, BARRON

• Hot NFTs: Frogana, Mocaverse, Milady, Retardio

• BLUR drops as MachiBigBrother liquidates

• CRV, ENS, PEOPLE to get Coinbase perp listing

• MOCA launches at $1.1bn, likely to get UPbit listing

• MOG launches app to MOG any photo

• PORTAL introduces Portal Play

• Andreessen gives $50k to AI agent, plans memecoin

• Sorare to launch season with $15m cash prizes

• FRIEND decline raises questions on tokenomics

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The information does not constitute financial advice or recommendation and should not be considered as such. Full Disclaimer.