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Crypto Twitter is a world in itself, and many on the outside are missing out on a ton of narratives and information that can make your Crypto journey easier.

We’ve added a more detailed Crypto Twitter section to the newsletter, let us know what you think. 👇️ 

Markets

Bitcoin Registers Biggest Single-Day Loss Since FTX's Collapse (3 minute read)
Bitcoin’s been on a rollercoaster, after months of up only, Tuesday wasn't its day. BTC's price tumbled over 8%, dropping below $62,000, and boy, that's a scene we haven't witnessed since last November. Remember when FTX crashed and burned?

Prices are now down around 15% from last week's all-time high of over $73,500. This isn’t really too unusual in bull markets, where we’ve seen pull backs as large as 30%! It seems the U.S.-listed spot ETFs are getting the cold shoulder, triggering this Bitcoin bungee jump.

BlackRock Launches Digital Asset Fund Backed by $100M on Ethereum
BlackRock's not just dipping its toes into Bitcoin – it's diving into ETH too! They've just unveiled a tokenized digital asset fund, chucking a cool $100 million of USDC stablecoin into the mix on the Ethereum Network. This move isn't just a fling; it's part of a bigger love affair with digital assets. After the smashing success of their Bitcoin spot ETF, BlackRock's got its eyes set on a spot Ethereum ETF too, although the SEC's playing hard to get with the approval. Back in January, BlackRock's CEO Larry Fink gave us a sneak peek, hinting at a shift towards tokenization.

To unseat Tether, upstart stablecoins are sharing the wealth (2 minute read)
Tether's been the big cheese, dominating the stable coin scene with over 100 billion USDT which is a whopping 70% of all stablecoins. Tether's been raking in profits, nearly $1 billion a month in the last quarter of 2023, mainly from playing it safe with US Treasurys investments. 

A bunch of ambitious new stablecoins are creeping up, eyeing a piece of Tether's pie. And their strategy? Offering what Tether doesn't – yield. Yep, these upstarts are wooing traders by dishing out yields from their Treasury investments, trying to outshine Tether, which, by the way, doesn't natively offer yield.

Best of Crypto Twitter

After the recent Solana meme coin craze, many on Crypto Twitter have been eagerly looking to rotate and catch the next wave early. So, where does that leave us?

Multiple big accounts, including Ansem, who has nailed so many calls on Solana, and others, have recently been bullish about Base, the Ethereum L2 owned by Coinbase.

This came alongside dozens of other Crypto Twitter personalities posting about Base, leading some to suspicions.

Our Take:

We’ve been Base users for a while, and the speed and low fees are incredible. Not to mention, many of the meme coins over there, including coins like NORMIE, are already up an incredible amount.

However, I would agree that the most recent round of Tweets does seem rather forced. So far, most of the gains on these Base meme coins have been from PvP – people trying to front-run the meta, trading against each other, rather than a fresh inflow of retail customers as many are hoping for.

Time will tell whether Coinbase succeeds in onboarding retail onto Base.

Other Tweets we like:

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Misc

BlackRock to launch tokenized investment fund with Securitize (2 minute read)
BlackRock's diving even deeper into the digital asset pool, teaming up with Securitize to launch a tokenized private equity fund. Their new venture: the USD Institutional Digital Liquidity Fund. It's not for the small fry – this pool's got a $100,000 minimum buy-in. While the launch date's still under wraps, we do know the fund's aiming to reel in $525,000 in sales commissions with no finders fee.

3AC Co-Founder Kyle Davies Says He Won’t Apologize for Crypto Hedge Fund Going 'Bankrupt' (2 minute read)
Kyle Davies, the co-founder of the now-collapsed crypto hedge fund Three Arrows Capital (3AC), is unapologetically shrugging off the fund's bankruptcy. Chatting on the Unchained Podcast, Davies basically said, "So what if we went bankrupt? It happens."

Let's rewind a bit: Davies, along with Su Zhu, launched 3AC in 2012. Fast forward to 2022, and they're hit hard by the crypto crash, spiraling into insolvency drama stretching from the British Virgin Islands to Singapore and the U.S. The plot thickens with Zhu getting nabbed at Singapore's airport in 2023, landing a four-month jail sentence for not helping to liquidate 3AC. He got out early on good behavior, though. As for Davies? He's chilling outside Singapore, not rushing to face the music like Zhu did. His stance? These legal tangles will sort themselves out eventually.

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