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🌙 Bitcoin Hits $66K as Soft Inflation Data Sparks Crypto Rally

Sluggish U.S. retail sales and softer inflation reports have opened the way for the next leg up in the crypto rally, Swissblock said.

Author

Mike Gavela
May 15, 2024

In partnership with

Crypto Roundup - May 15

The crypto markets are experiencing a recovery as core U.S. inflation reports a three-year low, suggesting less aggressive monetary tightening ahead. In separate news, the Department of Justice has charged two brothers for executing a $25 million attack using MEV bots, which manipulated transaction ordering on Ethereum. Meanwhile, S&P Global Rankings is advocating for asset managers to adopt tokenization, citing efficiency and operational benefits of blockchain technology over traditional financial systems.

Top Stories:

  • Crypto markets rebound: As core U.S. inflation hits a record low, cryptocurrency markets see an upswing, potentially due to expectations of a more lenient monetary policy.

  • DOJ charges in MEV bot attack: Two brothers have been indicted for a sophisticated $25 million theft involving manipulation of Ethereum transactions.

  • S&P urges tokenization: S&P Global Rankings highlights the advantages of tokenizing real-world assets to improve efficiency and liquidity in asset management.

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TOP STORIES

Crypto Markets Bounce Back as Core U.S Inflation Hits 3-Year Low - The Defiant

Bitcoin surged 6% to $65,000, with Ether and Solana rallying 3% and 7%, respectively.

thedefiant.io/news/markets/crypto-markets-bounce-back-as-core-u-s-inflation-hits-3-year-low

DOJ charges 2 brothers tied to $25M attack on MEV bots last year

The Department of Justice unsealed charges against Anton Peraire-Bueno and James Peraire-Bueno on Wednesday.

blockworks.co/news/doj-charges-brothers-mev-bot-attack

S&P Global Rankings Urges Asset Managers To Embrace Tokenization - The Defiant

S&P Global Rankings is bullish on tokenization, with a new report urging the asset management industry to embrace on-chain finance.

thedefiant.io/news/tradfi-and-fintech/s-and-p-global-rankings-urges-asset-managers-to-embrace-tokenization

FUNDRAISES

OTHER HEADLINES

Millennium Management holds nearly $2 billion in spot bitcoin ETF shares

As of March 31, Millennium Management held a combined $1.94 billion in shares of five spot bitcoin ETFs, according to its latest filing with regulators.  

www.theblock.co/post/294760/millennium-management-holds-2-billion-in-spot-bitcoin-etf-shares

El Salvador brings total BTC to 5,750

El Salvador's pro-Bitcoin president Nayib Bukele implemented 300 new processors powered by volcanic geothermal energy.

www.theblock.co/post/294741/el-salvador-mined-474-bitcoin-since-2021-using-volcanic-geothermal-power-bringing-total-btc-to-5750-report

Circle to Relocate Legal Domicile from Ireland to U.S. - The Defiant

The move comes ahead of the USDC issuer’s potential IPO, for which it filed paperwork with the SEC in January.

thedefiant.io/news/defi/circle-to-relocate-legal-domicile-from-ireland-to-u-s

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