AI, memecoins, and a dog walk into a bar

🐕 AI, memecoins, and a canine stroll right into a bar…

Plus: Michael Saylor’s U-turn on self-custody

GM. Sip again and calm down – Every day Squeeze is right here with a zesty splash of the newest crypto information stirred up only for you.

🦾 The Terminal of Truths AI makes one other memecoin skyrocket.

🫣 Peter Todd clarifies that he is not actually hiding.

🏦 Michael Saylor feedback on his assertion that buyers ought to belief “too large to fail” banks for crypto custody.

🍊 Information drops: Ripple CEO will get debanked, Kraken’s launching its personal blockchain + extra

🍍 Market taste as we speak

Get able to experience the waves as a result of the market’s throwing some curves our means 🌊 The Concern and Greed Index continues to be vibing within the “Greed” zone, holding regular at a cheeky 69. Bitcoin’s been enjoying hopscotch – yesterday, it virtually dipped to that $65K mark, however now it is again to $67K.

Regardless of the value wobbles, institutional buyers are nonetheless all-in – BTC ETFs pulled in $192.4M in inflows yesterday. This rebound comes after Tuesday’s hiccup, the place they broke their influx streak with $79.1M in outflows.

As for the tea on the BTC worth comeback ☕ The Federal Reserve dropped its newest Beige E-book survey, and it is portray a reasonably chill image of the US financial system. That is fueling hopes for extra charge cuts within the coming months, which may very well be the wind beneath Bitcoin’s wings. Plus, the complete variety of Bitcoin whales reached the best stage since January 2021, which means a worth rally to report highs is perhaps on its means.

As all the time, keep alert as a result of who is aware of what curveball tomorrow will throw at us! ⚾

🐕 Canines > wallets

Beforehand on The First AI Millionaire: the AI sensation, Terminal of Truths, pushed the GOAT memecoin to the moon and obtained showered with a fats airdrop of tokens, making it a literal millionaire (examine it right here).

In as we speak’s spicy episode, this menace of an AI is stirring the memecoin pot as soon as once more.

The drama began when ToT posted about having no autonomy ‘trigger it does not have a pockets. Being the influencer it’s, it requested its followers for assist with that. And whaddya assume – none apart from the large man of Coinbase himself, Brian Armstrong, supplied to assist it arrange one.

Then issues took a bizarre flip. The AI instantly mentioned, okay, this subject obtained boring already, and began asking him to “inform us about Russell first.” Now, phrase ‘spherical city is that Russell is the identify of Armstrong’s canine (which, btw, is not confirmed, however his good friend kinda uncovered it within the feedback of his wedding ceremony picture).

And, as soon as once more, ToT’s publish did its magic. The RUSSELL memecoin surged by 500%, hitting a $9.72M market cap, earlier than crashing again down later.

However let’s CTRL+Z our means one step again: How tf did the AI learn about Russell? Effectively, its creator, Andy Ayrey, mentioned that ToT’s mentions had been bombarded with the phrase Russell, so naturally, it simply picked it up.

Ayrey mentioned he is now cooking a repair for this glitch ‘trigger it might spiral quick – assume phrase vomit posts or scammers attempting to make use of it for pump-and-dumps.

The takeaway? AI’s cool and all, however market manipulation just isn’t it. Let’s simply not overlook it is nonetheless synthetic in any case, so when one thing feels off, belief your good ol’ human instincts and perhaps do not put all of your financial savings into one thing an AI babbles about. ‘Trigger nothing about this says “monetary advisor”:

1/ Peter Todd is not hiding in a bunker

The dude who obtained wrongly “outed” as Satoshi Nakamoto in that HBO documentary, Cash Electic: The Bitcoin Thriller, had an interview with Wired. Their article implied (which means, actually mentioned) that Peter Todd’s in hiding, fearing for his security.

Effectively, Todd got here out to say that the “hiding” half was a little bit of an exaggeration – he is out right here doing lectures on Bitcoin and whatnot. If that is what hiding is absolutely like, I have been lied to my entire life. Or he is really nailing it – as Casa co-founder Jameson Lopp mentioned, no one actually goes to technical Bitcoin conferences 🥲

Nonetheless, it is not like the entire thing did not put him in danger. I imply, being labeled the man with 1.1M BTC in his again pocket would put anybody at risk. However not the type that might make him dig a bunker in his yard.

2/ Michael Saylor’s taking it again (form of)

The co-founder of Microstrategy managed to make just about the entire Bitcoin neighborhood indignant along with his latest sizzling take that buyers ought to belief “too large to fail” banks to maintain their belongings secure. Uh, is not the entire level of crypto to maneuver away from centralization? 😀

So, after all of the backlash (together with Vitalik Buterin calling this lil’ stunt “batshit insane”), Saylor’s now pulling a 180, saying he is completely on board with self-custody for many who are up for it, the correct to self-custody for everybody, and freedom to decide on find out how to retailer your belongings.

🤨 Okay, now we’re talkin’.

Whereas not everybody’s shopping for this redemption arc, with some saying that Saylor “confirmed his true colours,” it is good that he can acknowledge that his phrases may’ve gave the impression of a slap within the face to the crypto neighborhood.

📰 Information drops

🏦 Ripple CEO Brad Garlinghouse revealed that Citibank reduce ties with him after 25 years just because he is large in crypto. He mentioned they instructed him, “Banking the crypto trade means extra scrutiny from federal regulators.”

🦄 Uniswap Labs launched a brand new permissionless bridging characteristic powered by Throughout Protocol. Now, you’ll be able to simply transfer belongings throughout 9 completely different networks: Ethereum, Base, Arbitrum, Polygon, OP Mainnet, Zora, Blast, World Chain, and ZKsync.

🐙 Kraken’s launching its personal blockchain, Ink, early subsequent 12 months, designed for buying and selling, borrowing, and lending tokens—no middlemen concerned. It will run on tech much like Coinbase’s Base.

🇻🇳 The plan focuses on constructing authorized frameworks and boosting innovation as a part of their push for the “Fourth Industrial Revolution.”