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5/27/24: Trump To Free Ross ⛓️🚀🤑

5/27/24: Trump To Free Ross ⛓️🚀🤑

Valko
May 27, 2024

Specs’ Breakdown

1. Trump vows to free Silk Road creator Ross Ulbricht

⌐◪-◪ → Trump just promised to free Ross Ulbricht if elected, and in doing so probably won over the entire Libertarian voter segment.

Ross Ulbricht has since released a statement on Twitter thanking Trump for his promise.

For context: Ross was sentenced to two consecutive life sentences plus 40 years — effectively life in prison without the possibility of parole.

He’s served 11 years in prison so far, so this would be life-changing.

Imagine if Biden countered by simply freeing Ross Ulbricht right now.

2. Global Bitcoin ETFs surpass 1M BTC under management

⌐◪-◪ → Global Bitcoin ETFs now hold over 1M BTC. These ETFs are distributed across several countries including the US, Sweden, Hong Kong, Germany, Switzerland, Canada, Brazil, and Australia — with Grayscale and BlackRock leading the pack.

For context, 1M Bitcoin is:

5.07% of the circulating supply of 19.7M BTC
4.76% of the hard supply cap of 21M BTC

This means the “money” is back in the hands of banks and private equity funds, the very institutions Bitcoin was designed to get us away from.

Now with the Ethereum ETFs approved, we will probably see similar consolidation on that front — which could lead to serious security risks according to the experts.

3. Caitlyn Jenner’s 𝕏 account promotes $JENNER coin

⌐◪-◪ → Caitlyn Jenner’s 𝕏 account just launched a memecoin via Pump.Fun called $JENNER — but people aren’t sure if it’s legit or if she was hacked.

Despite hacking suspicions, Jenner and her manager released a video to reassure followers of the token’s authenticity. So while the token is “real” it looks like her team got scammed by a developer.

Meanwhile, the token is taking over:

$106M+ volume in 24hrs
19,450 unique holders
293k total transactions
$32M+ market cap

While this is entertaining, things like this are precisely why Gensler and the SEC want to regulate crypto — it’s just not a good look for the space. It legitimately surpassed $USDT’s 24-hr volume…

Also, beware — other celebrity accounts exhibit similar behavior.

Everything Else

⛓️ Crypto & DeFi

Ethereum devs target Q1 2025 for Pectra upgrade
Ethereum Foundation responds to EigenLayer conflict of interest
Phantom becomes #1 finance app in the Google Play app store
Joe Lubin, ETH co-founder says new ETFs 'change everything'
Security experts say Ethereum ETFs could lead to 'serious' risks
TON blockchain total value locked passes $300M
EtherFi sees $1B deposits in 10 days, bringing TVL to $5.4B
Vitalik proposes the first block on Taiko mainnet
Aptos hits ATH all-time high of 115M daily transactions, 3.7x SOL

🏦 Wallstreet & VC

Michael Saylor says ETH approval 'may be better for Bitcoin'
TD Cowen says ETH ETFs clear the way for more crypto funds
MetaLeX raises $2.75M for crypto governance advisory
JPMorgan expects spot ETH ETFs to trade before November
52% of top hedge funds in the US hold Bitcoin ETF shares

🏛️ Legal & Regulatory

Trump gives pro-crypto speech at Libertarian National Convention
Justin Sun urgest community to back a pro-crypto President
FTX Estate sells remaining SOL at a discount to Pantera Capital
Standard Chartered says SOL & XRP ETFs 'likely a 2025 story'
Coinbase makes another push to appeal its case vs. the SEC
Congressional allies aid Coinbase in SEC overreach battle
Tornado Cash legal defense alleges prosecutorial overreach
Delaware Supreme Court says BitGo’s $100M case can proceed
Former SEC Chairman Clayton says ETH ETF trading is inevitable

🌎 Rest of the World

Nomura Bank partners with GMO on stablecoin exploration in Japan
UK courts jail woman for laundering $10M BTC from $5.6B fraud
Kenya partners with Marathon to monetize underused energy
Argentinian officials meet with El Salvador to discuss Bitcoin

🖼️ NFTs & Metaverse

Yuga Labs CEO outlines plans for Bored Ape Yacht Club
FriendTech co-founder expresses a desire to leave Base
Solana Dev who lit himself on fire is alive and wants another dare
Elon tweets about Kabosu’s death, $DOGE and $SHIB surge
Memecoins $PEPE, $MOG, hit new all-time highs on ETH approval
PAC wins Blast lottery for the 3rd time
deBridge wins Jupiter Exchange LFG Launchpad vote round 3
Damien Hirst faces allegations of backdating thousands of paintings
Cristiano Ronaldo announces 4th NFT drop on Binance

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