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- 6/10/24: The Self-Dubbed Knight 🇺🇸🌎⚙️
6/10/24: The Self-Dubbed Knight 🇺🇸🌎⚙️
Valko
June 10, 2024
Top News
Trump dubs himself the first 'Crypto President' in San Francisco
Spot Bitcoin ETFs hold over $70B in Bitcoin, 5% of the supply
Ethereum’s Pectra upgrade may be split into two hard forks
Specs’ Breakdown
1. Trump dubs himself the first 'Crypto President' in San Francisco
⌐◪-◪ → In classic Trump fashion, he proclaimed himself the first "crypto president" at a San Francisco fundraising event.
He also criticized the Biden administration's stance on crypto, promising to halt their anti-crypto actions if re-elected.
Trump’s pro-crypto stance landed him $12M in donations from top crypto executives — well-played ser.
Trump’s heavy focus on crypto highlights its growing importance in modern-day politics.
The world’s first Bitcoin election is here.
2. Spot Bitcoin ETFs now hold over $70B in Bitcoin
⌐◪-◪ → Global Bitcoin ETFs have accumulated over $70B. For context that’s about 5% of the total Bitcoin supply.
This coincides with Bitcoin's second-highest weekly close ever and $2B in just 7 trading days for the U.S. BTC ETFs.
While this milestone is certainly exciting from a mass adoption standpoint, it’s a double-edged sword — Wall Street is in control.
Remember kids — not your keys, not your crypto.
3. Ethereum’s Pectra upgrade may be split into two hard forks
pectra is shaping up to a BIG upgrade, possibly the largest in ethereum's history, so let's review all the code changes that are going into pectra so far and what is still TBD: ⚡️🧵
— Christine Kim (@christine_dkim)
6:50 PM • Jun 6, 2024
⌐◪-◪ → The upcoming Pectra upgrade for Ethereum is so expansive that developers are considering splitting it into two separate hard forks. It includes nine EIPs, here are some of them:
EIP-7702 (replaces EIP-3074/account abstraction)
EIP-7594 / PeerDAS (huge upgrade for rollup scalability)
EIP-7251 / MaxEB (stake more than 32 ETH per validator and have EL triggerable exits)
EOF-related EIPs (finally!)
EIP-2537 (BLS precompiles)
EIP-7549 (reduces consensus overhead)
The potential staged approach will allow for greater flexibility and thorough testing before full deployment.
Vitalik says Pectra is one of the last upgrades to introduce disruptive changes to Ethereum.
Everything Else
⛓️ Crypto & DeFi
ETH Pectra upgrade could be split into two hard forks
Bitcoin sees 2nd highest weekly close of all time
ETH leaders face 'massive contradiction', says Wintermute CEO
Arbitrum DAO approves $215M gaming fund
Base TVL surges to $8B after overtaking OP Mainnet
Gemholic accused of rug pull after moving $3.3M in recovered funds
BTC ETFs give crypto lending sector a second wind
SOL Foundation removes operators over malicious sandwich attacks
Orbit Chain exploiter moves $48M via Tornado Cash
Io.net CEO resigns days before token launch
Loopring suffers $5M hack due to compromised auth service
Taiko is spending $100K daily on blobs
Attacker sends 24,000 phishing emails from CoinGecko leak
🏦 Wall Street & VC
Bitcoin ETFs see $2B net inflows in just 7 trading days
GameStop dives 30% after early Q1 report
Spot ETH ETFs could capture 20% of BTC ETF flows
QCP Capital saw ‘bullish flows’ during recent BTC dip
Polkadot allocates $14.4M to bolster DeFi project Hydration
🏛️ Legal & Regulatory
Trump secures $12M in donations from crypto industry leaders
Craig Wright to pay plaintiffs' legal bills for posing as Satoshi
NY AG pushes back against DCG motion to dismiss fraud case
🌎 Rest of the World
Hong Kong considers staking for Ethereum ETFs
Bybit opens trading to Chinese users abroad
HSBC China rolls out e-CNY service for corporate clients
South Korea to treat certain NFTs as regular crypto
Paraguay to sell excess hydro-energy to BTC miners
🖼️ NFTs & Metaverse
Notcoin pumps 6% as players hit 40M
Friend.Tech token down 22% after deciding to leave Base
UniSat wallet hits 9,600 daily users amid PIZZA airdrop
🤑 Meme Coins
Iggy Azalea’s $MOTHER can soon be used to buy phones
GME + memecoins fall amid Roaring Kitty’livestreamam
$BRETT meme coin market cap hits $1.5B
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