Real defense or “trust me, bro

GM. Seize your crypto juice field – the Every 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 wanting energetic ⚓️ The Worry 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, discuss of pro-crypto insurance policies, and rising hopes that the Fed may 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 largest dip we have seen since 2018. Usually, 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 aspect, 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 printed an article claiming that the corporate’s underneath 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 Japanese terrorist teams. You recognize, the common villains.

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

So, what I am listening to:

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

– USDT’s backed by “belief me, bro”.

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

Naturally, such claims have raised a number of eyebrows, and Tether’s CEO, Paolo Ardoino, stated, sufficient with this bs. He referred to as the WSJ report “regurgitated outdated noise” and clarified that there’s actually no investigation occurring. And even when there have been, Tether would know – in any case, they have been working with regulation enforcement to maintain the dangerous guys off USDT. In actual fact, 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 price about $5.6B, and 48.2 tons of gold.

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

🪙 Code Meets Coin

Bear in mind once we talked about Terminal of Truths, the AI agent that took X and the memecoin market by storm? Effectively, seems Coinbase wasn’t simply waiting for leisure functions – they had been taking notes.

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

These AI brokers will have the ability to deal with trades, swaps, staking, and even register their very own Base identify. 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 that may not even know what a greenback is? Effectively, I suppose there’s just one solution 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 aim? 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 aspect, whereas a entrance or rear view provides a trippy see-through impact.

📝 Ethereum co-founder Vitalik Buterin dropped half 5 of his weblog sequence 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 sooner.

🤖 Hong Kong’s Monetary Companies 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 group settled a lawsuit with Bybit for $228M, aiming to get better funds for former prospects 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 business is shifting gears from retail to institutional, says Binance Thailand’s CEO. The SEC has proposed new guidelines to let mutual and personal funds put money into digital property, setting the stage for larger acceptance and progress available in the market.

🍌 Juicy memes