Data from SoSoValue — yes, that’s the name, no, it’s not a typo — showed that investors dumped a hefty $812 million from 12 US-listed Bitcoin ETFs in one fell swoop on August 1st. A grand day for a run-on, the worst since five months ago when everyone thought the sky was falling and the pigs were flying. Second-worst this year, just to keep things interesting like a soap opera.
Sir Brian Quintenz, a former CFTC commissioner with ties to the financial elite, finds himself the subject of scrutiny by Messrs. Tyler and Cameron Winklevoss, proprietors of the esteemed Gemini exchange. One might liken their critique to a well-aimed arrow striking the bullseye of complacency 🎯.
With historical resonance and forward-looking ambition, the speech placed digital assets squarely at the center of the next chapter in American financial innovation. “We are at the threshold of a new era,” Atkins declared, noting that the United States must not merely keep pace with crypto development abroad—it must lead it. 🤖
The Cathie Wood-led establishment—whose name is oft whispered in the corridors of Wall Street—has acquired no fewer than 94,678 shares of Coinbase (fondly abbreviated as COIN), distributed amongst three of its funds: the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF). This intelligence, gleaned from the discreet channels of trade notifications observed by CryptoMoon, has surely set tongues wagging among the discerning. One cannot help but remark that acquiring nearly one hundred thousand shares is as bold as it is calculated.
But oh, the pity – while Bitcoin and its feeble brethren bleed red like a sunset on a grim evening, another tragedy unfolds! Altcoins, oh those fickle friends, join the fray, with Pi hitting a new pitiful low. With a market cap suffering a staggering loss of nearly $250 billion, one might wonder if the crypto world is staging its own version of “Survivor,” only with fewer rewards and more regrettable decisions.
More than $2 billion worth of XRP was shifted in three moves—like a magician pulling rabbits out of a hat, but with digital coins. Meanwhile, XRP, the stubborn little donkey, has managed to regain the $3 level after a 4.17% gallop backward. 🐴
On the first day of August, a remarkable proclamation was issued: the creation of an AI task force designed, no doubt, to sprinkle a bit of silicon-based magic into the staid halls of regulation. Leading this venture is Madame Valerie Szczepanik, appointed as the first-ever Chief AI Officer—an appointment that surely *impressed* those who believe in the progress of human-machine collaboration. 🌟
In a dizzying twist of irony, just days after scooping up $450 million in fresh cash, Mill City announced it’s the first ‘official’ public company to set sail on the Sui blockchain—a digital frontier that promises to redefine AI, gaming, and all things shiny and new—probably before it becomes obsolete. They purchased a hefty 76.2 million SUI tokens worth $276 million, making them the purported “pioneers” of this shiny new treasure hunt. 🤡🔥
Billions vanished faster than my will to diet after seeing a cake. Bitcoin? Down to $114,322. Long positions? Liquidated to the tune of $577 million. Ouch. 🥴💸 (Source: CoinGlass, because who doesn’t love a good glass of data?)
The whispers started, as they always do, through the digital ether. Coinbase, that exchange of fleeting fortunes, has dared to accumulate more Bitcoin than Elon Musk’s company. Yes, that Tesla. The Q2 report spilled the beans – another 2,509 Bitcoins added to the coffers, a cool $222 million diverted from… well, from somewhere. Armstrong, that staunch believer, chirped on X, “Coinbase is long bitcoin.” As if we hadn’t already noticed. A bold proclamation, really, considering the inherent instability of it all. 😅
