🐶📰 Weekend Update

BTC $69,382 (4.8%) | ETH $2,057 (7.3%) | SOL $86 (6.2%)

Welcome to the Daily Bone Weekend Update where we recap the top stories from the week. Be sure to check out our daily newsletter to get all of your news hot off the press each and every weekday!

Headlines

• The total crypto market cap shed $500B and the fear and greed index dropped to 8, the lowest recorded level since the FTX crash

• Polymarket filed a trademark for the POLY token

• Bitcoin wicked to $55k on Bithumb as they accidentally airdropped 620,000 BTC to users

• Vitalik released X post saying that L2’s do not make sense anymore

Crypto News

• News broke that a senior UAE royal purchased 49% of Trump’s World Liberty Financial for $500M days before his inauguration

• HYPE/BTC ratio hit new all time high

• Perp DEXes recorded the 2nd highest day of trading volume on Thursday

• Strategy announced a new Bitcoin security program to address quantum threat

• xAI looks to hire crypto experts to teach AI models how to trade onchain

Macro News

• SpaceX acquired xAI in a deal that values the new company at $1.25T

• China resumed rare metals exports to Japan

• China banned unapproved CNY stablecoins

• Software equities crashed after fears stemming from AI growth

• Kyle Samani stepped back from Multicoin capital

• US House passed bill to end government shutdown

Tokens and NFTs

• Rainbow Wallet’s RNBW token and airdrop went live

• Flying Tulip allowlist sale went live

• Truth social added the $DJT ticker to their user name

• CyberKongz announced DEATHSTR token that flips NFT collections for a loss

• Elon Musk said he will put DOGE on the moon

Ray’s Crypto Toolkit

Must Follow X Account of the Week: Matt Schlicht

Memecoin Trading: Padre

Perps Trading: HyperLiquid

Portfolio Tracking: Cerebro

SOL Wallet: Phantom

EVM Wallet: Rabby

BTC Wallet: XVerse