Real defense or “trust me, bro

GM. Seize your crypto juice field – the Each day Squeeze is right here to quench your thirst for the freshest market updates!

💬 Tether CEO Paolo Ardoino responds to the Wall Road Journal’s accusations.

🦾 Coinbase is launching “Primarily based Agent.”

🍊 Information drops: 1inch’s collab with the Bruce Lee Household Firm, a brand new statue honoring Satoshi Nakamoto, Ethereum’s “Purge” + extra

🍍 Market taste immediately

The crypto seas are trying energetic ⚓️ The Concern and Greed Index is anchored within the “Greed” zone at 72, and Bitcoin’s ship sailed previous the $68K mark.

With elections simply across the nook, speak of pro-crypto insurance policies, and rising hopes that the Fed would possibly ease up on rates of interest, Bitcoin bulls are feeling the thrill.

However beware – the copper-to-gold ratio is flashing some warning lights. It is sunk by over 15% this yr – the most important dip we have seen since 2018. Sometimes, when Bitcoin’s on the rise, this ratio climbs, too. So, this dip has us squinting on the charts, questioning what’s on the horizon.

On the intense facet, BTC ETFs pulled in a treasure chest with $402M in inflows on Friday.

So, will we discover clean crusing forward, or are we in for uneven seas? Solely time will inform. Maintain your compass regular and your crew shut ⛵️

🤨 Consider It Or Not: Tether Version

On Friday, the Wall Road Journal tried to tug a traditional gotcha on Tether. They revealed an article claiming that the corporate’s beneath investigation for dodging anti-money laundering and sanctions legal guidelines – mainly portray USDT because the go-to stablecoin for Mexican drug cartels, Russian arms corporations, and Center Jap terrorist teams. You already know, the common villains.

And it is not the primary time that Tether’s been side-eyed: a month in the past, one client advocacy group referred to as out Tether for by no means really delivering a correct impartial audit of its greenback reserves.

So, what I am listening to:

– Tether’s beneficial by 9/10 criminals in your neighborhood; 

– USDT’s backed by “belief me, bro”.

😀👍 There’s nothing I would quite put all my life financial savings into.

Naturally, such claims have raised a number of eyebrows, and Tether’s CEO, Paolo Ardoino, mentioned, sufficient with this bs. He referred to as the WSJ report “regurgitated outdated noise” and clarified that there’s actually no investigation taking place. And even when there have been, Tether would know – in spite of everything, they have been working with regulation enforcement to maintain the dangerous guys off USDT. In reality, they’ve reportedly helped greater than 145 businesses in over 40 nations, reclaimed over $108M in USDT, and even blocked 1.8K wallets tied to shady stuff.

To additional clear the air, Ardoino additionally pulled again the curtain on Tether’s reserves: $100B in US bonds, 82K Bitcoin value about $5.6B, and 48.2 tons of gold.

Ultimately, it is nonetheless form of a your phrase in opposition to mine scenario, so we’re gonna have to attend for some extra proof to choose a facet.

🪙 Code Meets Coin

Keep in mind after we talked about Terminal of Truths, the AI agent that took X and the memecoin market by storm? Nicely, seems Coinbase wasn’t simply awaiting leisure functions – they have been taking notes.

They’re now launching a software referred to as “Primarily based Agent,” constructed utilizing Coinbase’s software program improvement equipment (SDK), ChatGPT, and the software program creation platform Replit. And get this: utilizing this software, you’ll be able to construct your individual AI sidekick together with your crypto pockets in beneath three minutes.

These AI brokers will be capable of deal with trades, swaps, staking, and even register their very own Base title. And yep, you may make it an X bot, too, so brace your self for extra diabolical AI-generated content material clogging your feed.

As we dive into this sci-fi actuality, the massive query looms: are we critically prepared for this? Are we cool with handing over our monetary lives to some code which may not even know what a greenback is? Nicely, I suppose there’s just one option to discover out.

📰 Information drops

🥋 1inch has partnered with the Bruce Lee Household Firm for an advert marketing campaign referred to as “Take Crypto SeriousLee.” Their objective? To shake off crypto’s rep as a speculative funding and convey DeFi nearer to the mainstream.

🗽 Artist Valentina Picozzi’s new statue honoring Bitcoin founder Satoshi Nakamoto simply appeared in Lugano, Switzerland. The faceless determine engaged on a laptop computer can solely be seen clearly from the facet, whereas a entrance or rear view provides a trippy see-through impact.

📝 Ethereum co-founder Vitalik Buterin dropped half 5 of his weblog collection on Ethereum’s future, referred to as “The Purge.” It is all about reducing down on further knowledge storage and ditching outdated options to make the community extra environment friendly and quicker.

🤖 Hong Kong’s Monetary Providers and Treasury Bureau (FSTB) dropped a coverage assertion pushing for sensible, accountable AI use in finance. Secretary Christopher Hui promised shut teamwork with regulators to create a thriving market the place monetary establishments can responsibly faucet into AI’s potential.

⚖️ FTX’s chapter workforce settled a lawsuit with Bybit for $228M, aiming to get better funds for former clients and collectors. The deal lets FTX money out $175M in crypto on Bybit and promote about $53M in BIT tokens to Bybit’s funding arm, Mirana Corp.

🇹🇭 Thailand’s crypto trade is shifting gears from retail to institutional, says Binance Thailand’s CEO. The SEC has proposed new guidelines to let mutual and personal funds spend money on digital belongings, setting the stage for larger acceptance and development out there.

🍌 Juicy memes